Global Telematics Market in Insurance Industry 2022-2026

Global Telematics Market In Insurance Industry 2022-2026

Technavio has been monitoring the telematics market in the insurance industry and it is poised to grow by $ 3.96 bn during 2022-2026, accelerating at a CAGR of 19.36% during the forecast period. Our report on the telematics market in the insurance industry provides a holistic analysis, of market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis of the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by cost savings due to the adoption of telematics-enabled UBI, increasing growth in smartphone penetration, and government initiatives encouraging the use of telematics.

The telematics market in insurance industry analysis includes deployment segment and geographic landscape.

Technavio's telematics market in the insurance industry is segmented as below:

By Deployment

• On-premise
• Cloud

By Geographical Landscape

• North America
• APAC
• Europe
• South America
• The Middle East and Africa

This study identifies optimized customer communication with insurance telematics as one of the prime reasons driving the telematics market in the insurance industry growth during the next few years. Also, the increasing number of vehicle launches featuring connected technologies and the emergence of next-generation telematics protocol will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the telematics market in the insurance industry covers the following areas:

• Telematics market in the insurance industry sizing
• Telematics market in the insurance industry forecast
• Telematics market in insurance industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading telematics market in insurance industry vendors that include Admiral Group plc, Agero Inc., Aplicom Ltd., Aviva Plc, AXA Group, Masternaut Ltd., Mercedes Benz Group AG, Meta System S.p.A, MiX Telematics Ltd., Octo Group S.p.A, Sierra Wireless Inc., The Allstate Corp., TomTom International BV, Trak Global Group, Trimble Inc., Verizon Communications Inc., and Zurich Insurance Co. Ltd. Also, the telematics market in the insurance industry analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.