|01-22-2018 06:22 PM CET - Business, Economy, Finances, Banking & Insurance||
+20% CAGR to be achieved by Insurance Telematics Market according to the Market Research Analysis and Regional Forecast
Press release from: qyreports
The Insurance Telematics Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of +20%.
Insurance telematics devices are primarily used by automobile insurance companies in order to track driving behavior of the customer and based on their performance in driving there would be change in the insurance premiums. Life insurance companies are incorporating health tracking devices in order to integrate change premiums and insurance plans based on the customer’s health change patterns. This smart life way of changing insurance offers is an example of how insurance companies are starting to make impact in the daily lives of their customers.
The Insurance Telematics Market size is expected to grow from USD 857 Million in 2018 to USD 2 Billion in 2023.
The study presents a qualitative and quantitative analysis of the market, its key segments, regulatory landscape, and competitive scenario, and recent developments. A detailed analysis of factors expected to drive and challenge the growth of the market as well as the trends that decide consumer inclination are highlighted. The report utilizes a variety of primary and secondary research methodologies for gathering quantitative as well as qualitative data on United States as well as regional fronts. With the help of a number of industry-best analytical methods, the vast amount of market data thus gathered is filtered and narrowed down to the details that matter the most to companies operating in the United States Insurance Telematics Market or aspiring to enter it.
Companies Profiled In This Report:
Agero, Aplicom, Masternaut Limited, Mix Telematics, Octo Telematics, Sierra Wireless, TOMTOM Telematics, Telogis, Trimble Navigation, Verizon Enterprise Solutions
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Insurance telematics market is also driven by the growth in construction industry where insurance companies offer reduced premiums based on the building systems and also react and monitor utilities in order to understand water leakage, fire occupancy trends etc. Insurance companies can use this data findings and can do predictive maintenance by detecting potential problems prior to their occurrence, thereby reducing claims from the customers. These technology enabled products will become necessary across all segments of the insurance industry, as increase in the digital savvy customers. Growth in innovations like IoT and machine learning also increase the adoption of insurance telematics market.
Marketing strategies and marketing channels adopted by key companies are highlighted in the report. Corporations are concentrating on improving direct and indirect advertising strategies and develop various promotion channels, brand strategies, and pricing strategies. This statistical surveying report finds that major corporations functioning in the United States Insurance Telematics Market are concentrating on acquiring a few startup companies in the near future. With this, the key companies will get a chance to focus on adopting new trends and innovations in the market products. Additionally, by merging with startups, leading companies are aiming to maintain their dominance in the United States market.
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Reason to Access Insurance Policy Software Market Research Report:
Analysis of United States Insurance Telematics Market and its upcoming growth prospects is been mentioned with maximum precision. This study includes an elaborative summary of market which also includes snapshots that offer depth of information of various other segmentations. Through qualitative and quantitative analysis of key factors which are responsible for boosting or hampering the market growth and the promising opportunities in market have been provide. Primary and secondary research is been done in detail which helps the readers have a strong understanding of the complete market for the forecast period.
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Table of Contents:
United States Insurance Telematics Market Research Report 2017
Chapter 1: United States Insurance Telematics Market Overview
Chapter 2: United States Economic Impact on Industry
Chapter 3: United States Market Competition by Manufacturers
Chapter 4: United States Production, Revenue (Value) by Region
Chapter 5: United States Supply (Production), Consumption, Export, Import by Regions
Chapter 6: United States Production, Revenue (Value), Price Trend by Type
Chapter 7: United States Market Analysis by Application
Chapter 8: Manufacturing Cost Analysis
Chapter 9: Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10: Marketing Strategy Analysis, Distributors/Traders
Chapter 11: Market Effect Factors Analysis
Chapter 12: United States Insurance Telematics Market Forecast
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This release was published on openPR.
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