Insurance Telematics Market Perspective and Forecast 2017-2025 | Key Players: TOMTOM Telematics, Trimble Navigation, Verizon Enterprise Solutions, Mix Telematics, Sierra Wireless, Octo Telematics, Masternaut Limited, Agero Inc, Aplicom OY, Telogis

Flairinsights has announced the addition of the “Global Insurance Telematics Market Size Status and Forecast 2025”, The report classifies the Global Insurance Telematics Market in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth.

Global Insurance Telematics Market

By Organization Size (Large Enterprises, Small and Medium Organizations), Deployment Model (Cloud, On-premise), and Regional Market Size, Status and Forecast to 2025

Market Overview:

The Global Insurance Telematics Market was valued at USD 1047.17 million in 2016 and is projected to reach USD 5826.52 million by 2025, growing at a CAGR of 21.01% from 2017 to 2025.

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Telematics insurance is a way for insurers to analyze the way you drive that allows insurers to calculate risk on the kind of driver you are and adjust the price of your policy accordingly. When fitted in your vehicle, the telematics box will record things like speed, braking patterns and distance travelled, all with the aim to calculate how safe you re driving. Telematics insurance benefits the insurers in several ways including to find the safe drivers, have new and value-added services, improved underwriting, reduced costs, and helps with claim management.

Market Dynamics:
1. Market Drivers
1.1 Emergence and adoption of IoT
1.2 Rising need of insurance telematics across the insurance and automotive sector
1.3 Rising demand for risk assessment and management
1.4 Reduction in the costs of connectivity solutions
1.5 Increasing usage of Smartphone
1.6 Growing need of regulatory compliance and regulations
2. Market Restraints
2.1 No standardized system available
2.2 Concerns for data privacy of end user
2.3 Rising security issues related to cloud and mobile technologies
2.4 Lack of awareness among end users about insurance telematics

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Market Segmentation:
The Global Insurance Telematics Market is segmented on the organization size, deployment model, and region.

1. Organization Size:
1.1 Large Enterprises
1.2 Small and Medium Organizations

2. By Deployment Mode:
2.1 Cloud
2.2 On-premises

3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa

Competitive Landscape:
The major players in the market are as follows:
1. TOMTOM Telematics
2. Trimble Navigation
3. Verizon Enterprise Solutions
4. Mix Telematics
5. Sierra Wireless
6. Octo Telematics
7. Masternaut Limited
8. Agero Inc.
9. Aplicom OY
10. Telogis

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This release was published on openPR.