In 2017, the Global Automotive Telematics Insurance Market volume was estimated 24.7 million units and is anticipated to witness a steep rise by generating an estimated revenue of US$ XX.XX over the forecast period. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 40.1% during the forecast period, i.e. 2017-2025.

Worldwide Automotive Telematics Insurance Market Growth Opportunities (Revenue, Growth) By 2017-2025

The new technology up gradation in the automotive sector is led by connected car development process which is the basic part of the smart vehicle architecture. The research and development activities is increased in automotive industry particularly connected car, autonomous car and driverless car which has resulted in collective demand for new and emerging technology in the coming years.  In that Telematics one of the smart solutions for connects a motors or vehicle to data/ analytics center which is helping us to track or enable to monitor its condition during various operations. Latest up gradation in telematics that is integration of human psychology or human nature with data collected in real scenario. In that automotive telematics industry is the major sector for insurance industry in the coming years.

Market Dynamics

The Worldwide Automotive Telematics Insurance Market is projected to cross 169 million units by 2022, According to industry experts telematics insurance market was valued very low level in 1990, but after 2000 industry activities, government support to new research and development, emerging technological players in North America and Europe show significant progress during forecast period due to its advancement of smartphone capabilities, low cost of networking and communication which will helping the market growth.

Telematics insurance is estimated to grow into a conventional automotive insurance option. In the current industry eco-process, the major drivers for the global automotive telematics insurance industry are dominated by the growth in new technology reforms in automotive or vehicle design; it’s allowed the integration of various smart services.

Segment Analysis

Some of the application for the market are highly customer engagement through usage-based insurance (UBI), which offers better pricing and feature flexibility for end users, the market has calculated number of fraud claims, and increasing insurance premium that another challenges to industry. Misconceptions about the industry such as the insurance claim process, data recording and tracking methods, and privacy issues these are also major challenges for telematics insurance market.

Regional Analysis

The Industry report statistics show the geographical dividend into the Americas, EMEA, APAC, Middle East & Africa and Latin America. It is analysis details and individual drives and restrain factors, growth boosting forces etc. also global key players roles in the industry growth.  North America is anticipated to hold the major market share in the global automotive telematics insurance market. The United States recorded an installed automotive telematics insurance policy of 14 million units in 2017, and is estimated to increase by five times in 2025. Additionally, EMEA is second largest region which holds the majority of technology companies, emerging countries such as U.K. and Italy. In 2025, EMEA is projected to lead the industry share, and the APAC region is estimated to calculate the highest CAGR for the forecast time period. Major countries which have deployed automotive telematics insurance are the U.S., the U.K., Italy, Canada, Singapore, and Japan, others.

Worldwide Automotive Telematics Insurance Market Size, Share Analysis By Region 2017

Key Players

Major players operating in global automotive telematics insurance market include Octo Telematics, CalAmp, Agero Inc, AXA Group, Cambridge Mobile Technology, Intelligent Mechatronic System, The Floow Ltd, The Progressive Corporation, TomTom, Trakm8 Group, and TrueMotion Inc, among others.

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