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Telematic Insurance is a smart solution which is used to monitor real-time driving behaviors for the drivers.
Global Telematics Insurance Market Analysis, 2020 research report depicts a deep dive market analysis of statistics of Global Telematics Insurance market which consists of regional and country-wise market size, forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end-users, applications, product type, technologies, competitive benchmarking, etc.
Market Opportunities
According to MarkNtel Advisors’ research report “Global Telematics Insurance Market Analysis, 2020”, the Global Telematics Insurance market is anticipated to grow at a CAGR of around 34% during 2021-26F. The growth of the market is attributed to escalating traction of connected devices in the passenger vehicle, rising awareness among customer in the emerging economies along with burgeoning adoption of telematic services and connected car and escalation use of in-vehicle communication systems in order to track driving behavior of the driver. Moreover, significant surge in the fleet size of passenger car in both developed and developing countries, increasing safety concern and surging number of insurance companies for the auto sector are the factors placing a lucrative opportunity for the growth of the market in the forthcoming timeline.
Market Segmentation
Passenger Vehicle Segment Acquired the Considerable Market Share
Based on End-User, Passenger Vehicle acquired the considerable market share in the Global Telematic Insurance market in 2020. The growth of the segment is accredited to growing concern of safety among drivers in passenger vehicles, rise in the number of passenger vehicle due to increasing per capita income of the customer and surging demand for custom-designed apps for passenger vehicles. Besides this, commercial vehicle is also anticipated to grow at a significant rate owing to the factors such as increase in the fleet size of the commercial vehicle, rise in the number of market player in the commercial insurance telematics and growing adoption of telematics among public transport and commercial fleet owners to reduce operational cost. Thus, this is anticipated to drive the growth of the Telematics Insurance market globally in the near future as revealed by the MarkNtel Advisors’ research report “Global Telematics Insurance Market Analysis, 2020”.
Competitive Landscape
According to MarkNtel Advisors’, the key players with a considerable market share in the Global Telematics Insurance market include 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 etc.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics
Frequently Asked Questions:
Q. What is the historical year, base year and forecast year considered in the research report on Global Telematics Insurance Market?
A. The historical data has been provided since 2016, while the base year is 2020 and the data is forecast up-to 2026.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million.
Q. What would be the growth rate or CAGR of Global Telematics Insurance Market during 2021-26F?
A. The Global Telematics Insurance Market is forecast to grow at a CAGR of 34% during 2021-26F.
Q. Who are the key competitors or players operating in Global Telematics Insurance Market?
A. 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 are few of the leading players in the Global Telematics Insurance Market.
Q. Which deployment type segment would emerge as an opportunity area for players in Global Telematics Insurance Market?
A. Cloud is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which region would emerge as an opportunity area for players in Global Telematics Insurance Market?
A. Asia-Pacific continue to grow at a highest CAGR, presenting immense opportunities for market players of Global Telematics Insurance Market.
