Global Insurance Telematics Market - By Solution (OEM Installed Black Box, OBD, OEM Solution, Hybrid Solutions, Smartphones), Application (Personal line, Commercial Life, Fleet Level), Type (Pay AS You Drive, Pay How You Drive, Pay As You Go), Geography, Trends, Forecast - (2017 - 2022)
The insurance telematics market was valued at USD XX.XX billion in 2016 and is projected to reach USD XX.XX billion by 2022, growing at a CAGR of XX.XX% during the forecast period 2017-2022.
Insurance telematics helps the insurance providers to access the information related to driving behavior, thereby enabling them to charge premiums accordingly. Telematics serves multiple functions by providing information of vehicle\'s speed, location, distance traveled, brake quality and general vehicle condition. Insurance telematics not only offers solutions to insurance providers, but it also helps drivers and government in terms of safety and driving behavior. This market is driven by a number of factors, such as greater market penetration of smartphones, increased safety and also an overall reduction in the connectivity costs. However, privacy concerns and lack of awareness about the product in developing countries may act as a roadblock to the growth of the market.
The Insurance Telematics market is segmented on the basis of Solution (OEM installed Black Box, on-board diagnostics (OBD), OEM Solution (line-fit), hybrid solutions, and smartphones), end-user (personal line, commercial life, fleet level), and type (pay-as-you-drive, pay-how-you-drive, and pay-as-you-go). The insurance telematics market has been geographically segmented into North America, Europe, Asia Pacific and rest of the world, with North America occupying the largest consumer base in the world, followed by Europe. There are immense potential and a lot of opportunities in Asia Pacific region because of the rapid growth of the automobile industry.
This insurance telematics market report describes a detailed study of the Porter\'s five forces analysis of the market. All the five major factors in these markets have been quantified using the internal key parameters governing each of them. It also covers the market landscape of these players which includes the key growth strategies, geographical footprint, and competition analysis. The report also considers key trends that will impact the industry and leading suppliers of insurance telematics market.Some of the key players mentioned in the report are Agero Inc. Aplicom Masternaut ltd Mix Telematics Octo Telematics Sierra Wireless Telogis Tom Tom Telematics Trimble navigation Verizon Enterprise Solutions
What the report offers
Market definition for insurance telematics along with identification of key drivers and restraints for the market. Market analysis for the insurance telematics market, with region specific assessments and competition analysis on a global and regional scale. Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share. Identification and analysis of the macro and micro factors that affect the insurance telematics market on both global and regional scale. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
Published By: Mordor Intelligence
Published Date: Q1 2017