Global Insurance Telematics Strategic Business Report 2023: Market to Reach $13.1 Billion by 2030 - Shift Towards Recurring Revenue Streams Makes 'Software' an Indispensable Platform
Friday, October 13, 2023
DUBLIN, Oct. 5, 2023 /PRNewswire/ -- The "Insurance Telematics - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
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Global Insurance Telematics Market to Reach $13.1 Billion by 2030
The global market for Insurance Telematics estimated at US$3 Billion in the year 2022, is projected to reach a revised size of US$13.1 Billion by 2030, growing at a CAGR of 20% over the analysis period 2022-2030.
Software, one of the segments analyzed in the report, is projected to record 20.8% CAGR and reach US$9 Billion by the end of the analysis period. Growth in the Hardware segment is estimated at 18.4% CAGR for the next 8-year period.
The U.S. Market is Estimated at $1 Billion, While China is Forecast to Grow at 18.4% CAGR
The Insurance Telematics market in the U.S. is estimated at US$1 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.4 Billion by the year 2030 trailing a CAGR of 18.4% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 19.1% and 17.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 22.7% CAGR.
What's New?
-- Special discussions on the global economic climate and market sentiment
-- Coverage on global competitiveness and key competitor percentage market
shares
-- Market presence analysis across multiple geographies -
Strong/Active/Niche/Trivial
-- Online interactive peer-to-peer collaborative bespoke updates
-- Access to digital archives and trademarked research platform
-- Complimentary updates for one year
-- Access to curated YouTube video transcripts of market sentiments shared
by CEOs, domain experts and market influencers via interviews, podcasts,
press statements and event keynotes
MARKET OVERVIEW
-- COVID-19 Pandemic Accelerates Insurance Digitization
-- Challenges for Digital Acceleration
-- Pandemic Impact: Financial Challenges & Digital Opportunities for
Insurance Industry
-- Rise of Insurtechs Threatens Technologically Inefficient, Traditional
Insurance Companies
-- Insurtech: Playing Key Role in Digital Innovation during Pandemic
-- Impact of the Pandemic on the Automotive Industry
-- Passenger Car Production YoY % Growth in Major Regional Markets in 2020
-- Competitive Scenario: Insurance Companies Eye Emerging Technologies
-- Insurance Telematics - Global Key Competitors Percentage Market Share in
2023 (E)
-- Competitive Market Presence - Strong/Active/Niche/Trivial for Players
Worldwide in 2023 (E)
-- Global Insurance Telematics Market Set to Gallop & Move Ahead
Break-Free: Prospects & Outlook
-- Eye-Catching Dynamics Adding to Velocity of Global Insurance Telematics
Market
-- Analysis by Offering
-- World Insurance Telematics Market by Offering (2023 & 2030): Percentage
Breakdown of Revenue for Software, and Hardware
-- Analysis by Type
-- World Insurance Telematics Market by Type (2023 & 2030): Percentage
Breakdown of Revenue for Pay-As-You-Drive, Pay-How-You-Drive, and
Pay-As-You-Go
-- Analysis by End-Use
-- World Insurance Telematics Market by End-Use (2023 & 2030): Percentage
Breakdown of Revenue for Passenger Cars, and Commercial Vehicles
-- Regional Analysis
-- World Insurance Telematics Market by Region: Percentage Breakdown of
Revenues for Developed and Developing Regions (2023 & 2030)
-- World Insurance Telematics Market - Geographic Regions Ranked by CAGR
(Value) for 2022-2030: USA, Europe, Japan, China, Asia-Pacific, Canada,
and Rest of World
-- Insurance Telematics: A Prelude
-- Benefits of Insurance Telematics
-- Applications
-- Telematics to Disrupt Other Insurance Sectors
-- Challenges
-- Recent Market Activity
MARKET TRENDS & DRIVERS
-- Need to Reduce Vehicle Insurance Costs & Risks Drives Interest in
Telematics Usage-Based Insurance
-- Effect of Telematics on the Insurance Industry
-- Insurance Sector & Technological Sophistication: The Evolution over
Years
-- Prioritizing Digital Engagement: Adapting to a New Normal
-- Vehicle Telematics: A Boon for Fleet Management Function
-- Growing Lenience towards Digital Lifestyles Widens Prospects
-- Global Market for Smartphones in Billions: 2016-2021
-- Smartphone Penetration Rate as Share of Total Population: 2016-2021
-- V2X Technology Improves Vehicle Telematics
-- Shift towards Recurring Revenue Streams Makes "Software" an
Indispensable Platform for Insurance Service Provisioning
-- Automobile Industry's Migration towards New Recurring Revenue Streams to
Make Software the Platform for Enabling In-Car Services: Global %
Breakdown of Automobile Industry's Profits by Revenue Streams for the
Years 2017 & 2030
-- Telematics Software: A Key Component in Modern Automotive Vehicles
-- Global Vehicle Telematics Market Size (in US$ Billion) for the Years
2020, 2023 and 2026
-- Cloud Environment Offers the Benefit of Reduced Development Cycle Times
for Automotive Software Solutions
-- Adoption of On-Board Vehicle Health Monitoring & Diagnostic System
Drives Growth
-- Digital Drive Across Sectors Forces Telematics Penetration in Insurance
Sector
-- Insurance Telematics Adoption on the Rise in Automotive Industry
-- Usage Based Insurance (UBI) and Telematics: Future Trends
-- Delving into Upsides & Downsides of Telematics Insurance
-- Insurance Industry: A Cradle of Innovation
-- Healthy Trajectory in IoT Vertical to Steer Insurance Telematics
-- Global Number of IoT Connected Devices (In Billion Units) for the Years
2016, 2018, 2020, 2022 & 2025
-- Global IoT Spending: Percentage Breakdown by Industry Vertical for the
Year 2022E
-- Pocket-Full of Lucrative Opportunities in Commercial Telematics Market
-- Telematics Comes with Bundle of Perks for Commercial Auto Insurance
-- Notable Merits of Telematics for Commercial Auto Insurance
-- Telematics for Commercial Auto Insurance: Key Challenges
-- Smart Cities Poised to Drive Demand
-- World Smart Cities Market Revenues (in US$ Million) by Geographic Region
for the Years 2020 & 2025E
-- Traditional Insurance: A Major Challenge for the Telematics Vertical
-- Hacking Emerges Into a Potent Threat to Privacy & Data Security
FOCUS ON SELECT PLAYERS (Total 66 Featured)
-- Agero Inc.
-- AllState Insurance Co.
-- Axa SA
-- Cambridge Mobile Telematics
-- DriveQuant
-- Imertik Global Inc
-- IMS (Insurance & Mobility Solutions)
-- LexisNexis Risks Solutions
-- Masternaut Limited
-- Meta System S.p.A.
-- Octo Group S.p.A
-- Sierra Wireless
-- The Floow Limited
-- Unipolsai Assicurazioni SpA
-- Verizon
-- Vodafone Automotive SpA
For more information about this report visit https://www.researchandmarkets.com/r/77s02v
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