Global Telematics Insurance

Global Telematics Insurance Market Research Report: Forecast (2023-2028)

By Deployment Type (Cloud, On-Premises), By Offering (Hardware, Software), By Type (Pay-as-you-drive, Pay-how-you-drive), By Enterprise Size (Large Enterprises, Small & Medium Enterprises), By End-Use Read more

  • ICT & Electronics
  • Nov 2022
  • 211
  • IT44003

Market Definition

In order to track the real-time driving behavior of drivers telematics insurance is a solution used by motor insurance companies and accordingly decide their policy premiums. It works by setting up a device, known as a Black Box, in the vehicle, which monitors & stores its different parameters like speed, braking pattern, driving style, distance, and the type of road one travels. Telematics insurance is a potential system to evaluate the ongoing situation of motor insurance and positively impact policy claims, risk selection, & fraud detection. Numerous research & developments are being conducted toward expanding its utilization globally.

Market Insights

The Global Telematics Insurance Market is anticipated to grow at a CAGR of around 34% during the forecast period, i.e., 2023-28. Reduced costs of connected car solutions, stringent norms imposed by governments of different countries worldwide associated with driver safety, growing consumer inclination toward in-car connectivity, and the mounting penetration of smartphones worldwide are the prime aspects likely to drive the market through 2028. Besides, various technological advancements in the automotive insurance sector, such as the integration of telematics into vehicles are also fueling the market growth.

Report Coverage Details
Study Period Historical Data: 2018-21
Base Year: 2022
Forecast Period: 2023-28
CAGR (2023-2028) 34%
Regions Covered North America: USA, Canada, Mexico
South America: Brazil, Argentina
Europe: The UK, Germany, France, Spain, Italy, Rest of Europe
Asia-Pacific: China, India, Japan, South Korea, Australia
Middle East & Africa: Saudi Arabia, UAE, South Africa
Key Companies Profiled Agero Inc., Aplicom, Intelligent Mechatronic System, Masternaut Ltd., Meta System S.p.A, MiX Telematics Ltd., Octo Telematics S.p.A, Sierra Wireless Inc., Trimble Inc., Webfleet Solutions GB, Verizon Enterprise Solutions, Telogis, Admiral, Achmea, AXA Assistance
Unit Denominations USD Million/Billion

 

Automotive telematics aid in improving driving behavior & road safety, positioning insurance premiums with actual requirements through UBI (Usage-Based Insurance), and enhancing the profitability of motor insurance companies. Besides insurance & road safety improvements, telematics offers added benefits to individuals, governments, & organizations, including driving-style improvements to foster fuel economy, location-based services like real-time tracking, vehicle maintenance alerts, & recovery of stolen vehicles, among others.

The mounting demand of customers for extraordinary connectivity & intellect in their vehicles and several government initiatives for encouraging telematics services in their respective countries would create profitable prospects for the market in the coming years. Furthermore, low policy premiums and providing personalized & value-added services in insurance to effectively suffice consumer requirements are other prominent advantages of telematics insurance that would fuel the expansion of the industry during 2023-28.

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Market Segmentation
    4. Assumptions
  2. Preface
  3. Executive Summary
  4. Impact of COVID-19 on Global Telematics Insurance Market
  5. Global Telematics Insurance Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. Revenues
    2. Market Share & Analysis
      1. By Deployment Type
        1. Cloud
        2. On-Premise
      2. By Offering
        1. Hardware
        2. Software
      3. By Type
        1. Pay-as-you-drive
        2. Pay-how-you-drive
      4. By Enterprise Size
        1. Large Enterprises
        2. Small & Medium Enterprises
      5. By End User
        1. Passenger Vehicle
        2. Commercial Vehicle
      6. By Region
        1. North America
        2. South America
        3. Europe
        4. Middle East & Africa
        5. Asia-Pacific
      7. By Company
        1. Competition Characteristics
        2. Market Share & Analysis
        3. Competitive Matrix
  6. North America Telematics Insurance Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. Revenues
    2. Market Share & Analysis
      1. By Deployment Type
      2. By Offering
      3. By Type
      4. By Enterprise Size
      5. By End User
      6. By Country
        1. The US Telematics Insurance Market Outlook, 2018-2028F
          1. Market Size & Analysis
            1. Revenues
          2. Market Share & Analysis
            1. By End User
        2. Canada Telematics Insurance Market Outlook, 2018-2028F
          1. Market Size & Analysis
            1. Revenues
          2. Market Share & Analysis
            1. By End User
        3. Mexico Telematics Insurance Market Outlook, 2018-2028F
          1. Market Size & Analysis
            1. Revenues
          2. Market Share & Analysis
            1. By End User
  7. South America Telematics Insurance Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. Revenues
    2. Market Share & Analysis
      1. By Deployment Type
      2. By Offering
      3. By Type
      4. By Enterprise Size
      5. By End User
      6. By Country
        1. Brazil Telematics Insurance Market Outlook, 2018-2028F
          1. Market Size & Analysis
            1. Revenues
          2. Market Share & Analysis
            1. By End User
        2. Argentina Telematics Insurance Market Outlook, 2018-2028F
          1. Market Size & Analysis
            1. Revenues
          2. Market Share & Analysis
            1. By End User
  8. Europe Telematics Insurance Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. Revenues
    2. Market Share & Analysis
      1. By Deployment Type
      2. By Offering
      3. By Type
      4. By Enterprise Size
      5. By End User
      6. By Country
        1. The UK Telematics Insurance Market Outlook, 2018-2028F
          1. Market Size & Analysis
            1. Revenues
          2. Market Share & Analysis
            1. By End User
        2. Italy Telematics Insurance Market Outlook, 2018-2028F
          1. Market Size & Analysis
            1. Revenues
          2. Market Share & Analysis
            1. By End User
        3. Germany Telematics Insurance Market Outlook, 2018-2028F
          1. Market Size & Analysis
            1. Revenues
          2. Market Share & Analysis
            1. By End User
        4. France Telematics Insurance Market Outlook, 2018-2028F
          1. Market Size & Analysis
            1. Revenues
          2. Market Share & Analysis
            1. By End User
        5. Spain Telematics Insurance Market Outlook, 2018-2028F
          1. Market Size & Analysis
            1. Revenues
          2. Market Share & Analysis
            1. By End User
  9. Middle East & Africa Telematics Insurance Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. Revenues
    2. Market Share & Analysis
      1. By Deployment Type
      2. By Offering
      3. By Type
      4. By Enterprise Size
      5. By End User
      6. By Country
        1. Saudi Arabia Telematics Insurance Market Outlook, 2018-2028F
          1. Market Size & Analysis
            1. Revenues
          2. Market Share & Analysis
            1. By End User
        2. UAE Telematics Insurance Market Outlook, 2018-2028F
          1. Market Size & Analysis
            1. Revenues
          2. Market Share & Analysis
            1. By End User
        3. South Africa Telematics Insurance Market Outlook, 2018-2028F
          1. Market Size & Analysis
            1. Revenues
          2. Market Share & Analysis
            1. By End User
  10. Asia-Pacific Telematics Insurance Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. Revenues
    2. Market Share & Analysis
      1. By Deployment Type
      2. By Offering
      3. By Type
      4. By Enterprise Size
      5. By End User
      6. By Country
        1. China Telematics Insurance Market Outlook, 2018-2028F
          1. Market Size & Analysis
            1. Revenues
          2. Market Share & Analysis
            1. By End User
        2. Japan Telematics Insurance Market Outlook, 2018-2028F
          1. Market Size & Analysis
            1. Revenues
          2. Market Share & Analysis
            1. By End User
        3. India Telematics Insurance Market Outlook, 2018-2028F
          1. Market Size & Analysis
            1. Revenues
          2. Market Share & Analysis
            1. By End User
        4. South Korea Telematics Insurance Market Outlook, 2018-2028F
          1. Market Size & Analysis
            1. Revenues
          2. Market Share & Analysis
            1. By End User
        5. Australia Telematics Insurance Market Outlook, 2018-2028F
          1. Market Size & Analysis
            1. Revenues
          2. Market Share & Analysis
            1. By End User
  11. Global Telematics Insurance Market Policies, Regulations, Product Standards
  12. Global Telematics Insurance Market Trends & Insights
  13. Global Telematics Insurance Market Dynamics
    1. Growth Drivers
    2. Challenges
    3. Impact Analysis
  14. Global Telematics Insurance Market Hotspot & Opportunities
  15. Global Telematics Insurance Market Key Strategic Imperatives for Success & Growth
  16. Competition Outlook
    1. Competition Matrix
      1. Product/ Solution Portfolio
      2. Target Markets
      3. Target End Users
      4. Research & Development
      5. Strategic Alliances
      6. Strategic Initiatives
    2. Company Profiles of Top Companies (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. Agero Inc.
      2. Aplicom
      3. Intelligent Mechatronic System
      4. Masternaut Ltd.
      5. Meta System S.p.A
      6. MiX Telematics Ltd.
      7. Octo Telematics S.p.A
      8. Sierra Wireless Inc.
      9. Trimble Inc.
      10. Webfleet Solutions GB
      11. Verizon Enterprise Solutions
      12. Telogis
      13. Admiral
      14. Achmea
      15. AXA Assistance
  17. Disclaimer
Telematics Insurance Market Segmentation
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