Insurance Telematics Market Precise Outlook 2021- TomTom Telematics BV, Trimble Inc., Verizon Enterprise Solutions Inc., Meta System SpA, Intelligent Mechatronic Systems

MarketInsightsReports has published a report entitled Global Insurance Telematics Market Research Report 2021 that is a detailed observation of several aspects, including the rate of growth, technological advances and various strategies implemented by the main current market players. The report is based on a collective analysis of data, which is obtained through primary and secondary research. It provides a systematic approach to the current and prospective scenario of this market.

The Insurance Telematics market is expected to grow at a CAGR of 18.5% over the forecast period (2021 - 2026).

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Key Players:

Agero Inc., Aplicom Oy, Masternaut Ltd, MiX Telematics Ltd, Octo Telematics SpA, Sierra Wireless Inc., Telogis Inc., TomTom Telematics BV, Trimble Inc., Verizon Enterprise Solutions Inc., Meta System SpA, Intelligent Mechatronic Systems and others.

Key Market Trends

Insurance Telematics Cloud Deployment Enables Better Data and Device Management

- The rising incorporation of the internet of things (IoT) into passenger and commercial vehicles is propelling the utilization of cloud services in insurance telematics. Cloud enables the tapping of various data related to the device on the go. For instance, a parent can monitor their childrens driving behavior. Furthermore, cloud services can be connected through third-party applications, enabling enhanced customer experience, which is propelling the market growth over the forecast period.
- Additionally, it empowers live sharing of data with the concerned person, which is likely to boost the segments growth. Incorporating cloud through insurance telematics also offers insights and risks associated with the drivers driving style, which helps in keeping track of the cars running activity.
- In addition, it reduces the extra cost related to data storage, which, compared to on-premise, is expected to fuel the adoption of cloud-based service, thereby, propelling the segments growth over the forecast period.

Europe Enjoys a Dominant Position in the Insurance Telematics Market

- The European insurance telematics market is largely dominated by hardwired aftermarket black boxes, while self-install OBD devices represent the vast majority of the active policies in North America. However, several major US insurers have recently shifted to solutions based on smartphones.
- The Italian insurers, UnipolSai and Generali, together accounted for around 50% of the telematics-enabled policies in Europe. Moreover, insurers with a strong adoption of telematics-enabled policies in the United Kingdom include Admiral Group, Insure, The Box, and Direct Line. Several insurers in the rest of Europe have also shown a substantial uptake of telematics in 2016-2017.
- Consumer engagement is now the focus of most insurance telematics programs and will continue to be an important topic in the near term in Europe. The European insurance telematics market is still controlled and dominated by insurers in Italy and the United Kingdom, with an estimated 4.3 million and 540,000 policies, respectively. Uptake on all other markets is considerably lesser, with between 50,000 and 100,000 policies in Spain, Austria, and France, and between 10,000 to 20,000 policies in Benelux, Switzerland, Scandinavia, and Germany.

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Important Features that are under Offering and Key Highlights of the Reports:

– Detailed overview of Insurance Telematics Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Insurance Telematics Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth.

Finally, the Insurance Telematics Market report is the believable source for gaining Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and Market development rate and figure, and so on. This report additionally Present a new task SWOT examination, speculation attainability investigation, and venture return investigation.

Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information, and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

This release was published on openPR.