Global Insurance Telematics Industry

Global Insurance Telematics Industry

  • September 2020 •
  • 142 pages •
  • Report ID: 5798919 •
  • Format: PDF
Global Insurance Telematics Market to Reach $6.7 Billion by 2027

Amid the COVID-19 crisis, the global market for Insurance Telematics estimated at US$1.8 Billion in the year 2020, is projected to reach a revised size of US$6.7 Billion by 2027, growing at aCAGR of 20.7% over the period 2020-2027. On-Premises, one of the segments analyzed in the report, is projected to record 19.6% CAGR and reach US$3.9 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cloud segment is readjusted to a revised 22.3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $532.1 Million, While China is Forecast to Grow at 20% CAGR

The Insurance Telematics market in the U.S. is estimated at US$532.1 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.2 Billion by the year 2027 trailing a CAGR of 20% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 18.8% and 17.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 15.2% CAGR.We bring years of research experience to this 7th edition of our report. The 142-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others,
  • Agero, Inc.
  • Aplicom Oy
  • Masternaut Ltd.
  • MiX Telematics
  • Octo Telematics Ltd.
  • Sierra Wireless, Inc.
  • Telogis, Inc.
  • Tomtom Telematics BV
  • Trimble Navigation Ltd.
  • Verizon Enterprise Solutions