Press release
Insurance Telematics Market to Reach $13.78 billion by 2030: Top players are
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Increasing need for insurance telematics across the insurance & automotive sector, growing demand for regulatory compliance, and rise in adoption of IoT drive the growth of the global insurance telematics market. However, lack of awareness toward insurance telematics and privacy & security concerns restrain the market to some extent. On the other hand, increasing innovation in the automotive industry and untapped potential in emerging economies present new opportunities in the upcoming years.
Based on offering, the software segment held the highest market share in 2020, holding more than half of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, this segment is estimated to register the highest CAGR of 21.4% from 2021 to 2030.
Based on technology, the black box segment held the largest market share in 2020, holding more than three-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the smartphone segment is projected to register the highest CAGR of 25.1% from 2021 to 2030.
Based on region, the global insurance telematics market across Europe contributed to the highest share in terms of revenue in 2020, holding nearly two-fifths of the total market share, and is estimated to continue its dominant share by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 23.8% during the forecast period.
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Top impacting factors
Growth in Need for Regulatory Compliances and Regulations
Privacy & Security Concerns
Increase in Innovation in the Automotive Industry
Key Benefits for Stakeholders
The study provides in-depth analysis of the global insurance telematics market share along with current trends and future estimations to illustrate the imminent investment pockets.
Information about key drivers, restrains, and opportunities and their impact analysis on the global insurance telematics market size are provided in the report.
Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the insurance telematics market.
An extensive analysis of the key segments of the industry helps to understand the insurance telematics market trends.
The quantitative analysis of the global insurance telematics market forecast from 2021 to 2030 is provided to determine the market potential.
Key Market Segments
By Offering
Hardware
Telematics Control Unit (TCU)
Navigation System (GPS)
Standalone Tracker
Advanced Tracker
Satellite
Cellular
Communication Devices
Others
Software
Services
Consulting
Implementation
Maintenance
By Technology
OBD-II
Smartphone
Hybrid
Black-box
By Deployment
On-Premise
Cloud
By Type
Pay-As-You-Drive (PAYD)
Pay-How-You-Drive (PHYD)
Manage-How-You- Drive (MHYD)
By Vehicle Age
New Vehicles
Used Vehicles
By Vehicle Type
Light-Duty Vehicles (LDV)
Heavy-Duty Vehicles (HDV)
By Organization Size
Large Enterprises
Small & Medium-sized Enterprises
By Region
North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Belgium
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Singapore
Thailand
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Agero Inc.
IMS
Masternaut Limited
Meta System S.p.A.
MiX Telematics
Octo Group S.p.A
Sierra Wireless
TomTom International BV.
Trimble Inc.
Verizon
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