Dublin, Oct. 05, 2023 (GLOBE NEWSWIRE) — The “Insurance Telematics – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.

Global Insurance Telematics Market to Reach $13.1 Billion by 2030

The global market for Insurance Telematics estimated at US$3 Billion in the year 2022, is projected to reach a revised size of US$13.1 Billion by 2030, growing at a CAGR of 20% over the analysis period 2022-2030.

Software, one of the segments analyzed in the report, is projected to record 20.8% CAGR and reach US$9 Billion by the end of the analysis period. Growth in the Hardware segment is estimated at 18.4% CAGR for the next 8-year period.

The U.S. Market is Estimated at $1 Billion, While China is Forecast to Grow at 18.4% CAGR

The Insurance Telematics market in the U.S. is estimated at US$1 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$1.4 Billion by the year 2030 trailing a CAGR of 18.4% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 19.1% and 17.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 22.7% CAGR.

What`s New?

• Special discussions on the global economic climate and market sentiment
• Coverage on global competitiveness and key competitor percentage market shares
• Market presence analysis across multiple geographies – Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and trademarked research platform
• Complimentary updates for one year
• Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

MARKET OVERVIEW

• COVID-19 Pandemic Accelerates Insurance Digitization
• Challenges for Digital Acceleration
• Pandemic Impact: Financial Challenges & Digital Opportunities for Insurance Industry
• Rise of Insurtechs Threatens Technologically Inefficient, Traditional Insurance Companies
• Insurtech: Playing Key Role in Digital Innovation during Pandemic
• Impact of the Pandemic on the Automotive Industry
• Passenger Car Production YoY % Growth in Major Regional Markets in 2020
• Competitive Scenario: Insurance Companies Eye Emerging Technologies
• Insurance Telematics – Global Key Competitors Percentage Market Share in 2023 (E)
• Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
• Global Insurance Telematics Market Set to Gallop & Move Ahead Break-Free: Prospects & Outlook
• Eye-Catching Dynamics Adding to Velocity of Global Insurance Telematics Market
• Analysis by Offering
• World Insurance Telematics Market by Offering (2023 & 2030): Percentage Breakdown of Revenue for Software, and Hardware
• Analysis by Type
• World Insurance Telematics Market by Type (2023 & 2030): Percentage Breakdown of Revenue for Pay-As-You-Drive, Pay-How-You-Drive, and Pay-As-You-Go
• Analysis by End-Use
• World Insurance Telematics Market by End-Use (2023 & 2030): Percentage Breakdown of Revenue for Passenger Cars, and Commercial Vehicles
• Regional Analysis
• World Insurance Telematics Market by Region: Percentage Breakdown of Revenues for Developed and Developing Regions (2023 & 2030)
• World Insurance Telematics Market – Geographic Regions Ranked by CAGR (Value) for 2022-2030: USA, Europe, Japan, China, Asia-Pacific, Canada, and Rest of World
• Insurance Telematics: A Prelude
• Benefits of Insurance Telematics
• Applications
• Telematics to Disrupt Other Insurance Sectors
• Challenges
• Recent Market Activity

MARKET TRENDS & DRIVERS

• Need to Reduce Vehicle Insurance Costs & Risks Drives Interest in Telematics Usage-Based Insurance
• Effect of Telematics on the Insurance Industry
• Insurance Sector & Technological Sophistication: The Evolution over Years
• Prioritizing Digital Engagement: Adapting to a New Normal
• Vehicle Telematics: A Boon for Fleet Management Function
• Growing Lenience towards Digital Lifestyles Widens Prospects
• Global Market for Smartphones in Billions: 2016-2021
• Smartphone Penetration Rate as Share of Total Population: 2016-2021
• V2X Technology Improves Vehicle Telematics
• Shift towards Recurring Revenue Streams Makes “Software” an Indispensable Platform for Insurance Service Provisioning
• Automobile Industry’s Migration towards New Recurring Revenue Streams to Make Software the Platform for Enabling In-Car Services: Global % Breakdown of Automobile Industry’s Profits by Revenue Streams for the Years 2017 & 2030
• Telematics Software: A Key Component in Modern Automotive Vehicles
• Global Vehicle Telematics Market Size (in US$ Billion) for the Years 2020, 2023 and 2026
• Cloud Environment Offers the Benefit of Reduced Development Cycle Times for Automotive Software Solutions
• Adoption of On-Board Vehicle Health Monitoring & Diagnostic System Drives Growth
• Digital Drive Across Sectors Forces Telematics Penetration in Insurance Sector
• Insurance Telematics Adoption on the Rise in Automotive Industry
• Usage Based Insurance (UBI) and Telematics: Future Trends
• Delving into Upsides & Downsides of Telematics Insurance
• Insurance Industry: A Cradle of Innovation
• Healthy Trajectory in IoT Vertical to Steer Insurance Telematics
• Global Number of IoT Connected Devices (In Billion Units) for the Years 2016, 2018, 2020, 2022 & 2025
• Global IoT Spending: Percentage Breakdown by Industry Vertical for the Year 2022E
• Pocket-Full of Lucrative Opportunities in Commercial Telematics Market
• Telematics Comes with Bundle of Perks for Commercial Auto Insurance
• Notable Merits of Telematics for Commercial Auto Insurance
• Telematics for Commercial Auto Insurance: Key Challenges
• Smart Cities Poised to Drive Demand
• World Smart Cities Market Revenues (in US$ Million) by Geographic Region for the Years 2020 & 2025E
• Traditional Insurance: A Major Challenge for the Telematics Vertical
• Hacking Emerges Into a Potent Threat to Privacy & Data Security

FOCUS ON SELECT PLAYERS (Total 66 Featured)

• Agero Inc.
• AllState Insurance Co.
• Axa SA
• Cambridge Mobile Telematics
• DriveQuant
• Imertik Global Inc
• IMS (Insurance & Mobility Solutions)
• LexisNexis Risks Solutions
• Masternaut Limited
• Meta System S.p.A.
• Octo Group S.p.A
• Sierra Wireless
• The Floow Limited
• Unipolsai Assicurazioni SpA
• Verizon
• Vodafone Automotive SpA

For more information about this report visit https://www.researchandmarkets.com/r/prq7iq

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