Market Overview:
The global digital motor claims management market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The growth of the market can be attributed to the increasing demand for cloud-based solutions and rising adoption of digital technologies by businesses. The global digital motor claims management market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into on-premise, cloud-based, and digital motor claims management. The on-premise segment is expected to hold a major share in the global digital motor claims management market during the forecast period owing to its advantages such as security and control over data.
Product Definition:
Digital Motor Claims Management is the process of managing and settling motor vehicle claims using digital technology. The importance of Digital Motor Claims Management is that it allows for faster and more accurate settlement of claims, which can help to reduce costs and improve customer service.
On-premise:
On-premise software is a type of solution that is installed and used on the end user's own equipment. The software is installed on the end users' computers or servers, which are then used to process claims. On-premise solutions include motor vehicle collision repair centers (CRCs), auto body shops, and other organizations that deal with physical damage vehicles.
Cloud Based:
Cloud Based is a term used to define services, software and technology platforms based on virtual servers that provide shared resources and networked computing. The cloud-based platform offers various advantages such as increased data security, easy accessibility from any location with an internet connection, reduced maintenance & operational costs for businesses along with flexibility in terms of pricing models. These factors are expected to propel the growth of the global Cloud Based Digital Motor Claims Management market over the forecast period.
Application Insights:
In 2017, the small business segment held the largest market share in terms of revenue and is expected to continue dominating the market over the forecast period. The growth of this segment can be attributed to factors such as increasing penetration of digital technologies in various industries such as automotive, manufacturing and construction among others. Furthermore, growing concerns regarding data breaches and online frauds are driving organizations towards adopting robust security solutions that include DMCM.
The large business application segment is anticipated to witness significant growth over the forecast period owing to rising adoption across different industry verticals for managing claims more efficiently resulting in reduced costs & time savings with enhanced customer experience. Large businesses have a global presence which makes them susceptible to cyberattacks leading them towards adopting cloud-based digital motor claims management platform from vendors like IBM Corporation or Infosys Ltd.
Regional Analysis:
Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period. The growth can be attributed to increasing industrialization and rising adoption of on-premise, cloud based digital motor claims management solutions by large enterprises in China and India. Furthermore, growing demand for electric vehicles across countries such as China and Japan is anticipated to drive the regional market further. Europe accounted for more than 25% revenue share in 2017 owing to stringent regulations about carbon emissions from diesel engines coupled with a shift towards electric vehicles by major automotive manufacturers including Volkswagen Group; BMW AG; Daimler AG; Ford Motor Company LLC.; Jaguar Land Rover Limited.; Mercedes Benz A Class B Class C Class AMG CLA CLK GLC GLA GLE GLB ML 63 AMG E class SLS SL 65 AMG CLA 45 AMP Black Series).
Growth Factors:
- Increasing demand for electric vehicles: The global market for electric vehicles is expected to grow at a CAGR of more than 20% during the forecast period. This will lead to an increase in the number of digital motor claims, as electric vehicles are more prone to damage than traditional petrol or diesel-powered cars.
- Proliferation of connected cars: By 2020, it is estimated that there will be more than 250 million connected cars on the road worldwide. This will create new opportunities for digital motor claims management providers as they look to provide innovative solutions that can help car owners and insurance companies manage and process claims quickly and efficiently.
- Rise in online sales of used cars: The online sale of used cars is growing rapidly, with around one-third of all used car transactions now taking place over the internet. This presents a huge opportunity for digital motor claims management providers who can offer their services through online channels and help make the process easier and faster for buyers and sellers alike.
Scope Of The Report
Report Attributes
Report Details
Report Title
Digital Motor Claims Management Market Research Report
By Type
On-premise, Cloud Based, Digital Motor Claims Managemen
By Application
Small Business, Medium-sized Business, Large Business
By Companies
AXA, Ageas, INube, Swiss Post Solutions, Audatex, Openclaims, BSynchro, Xtract, Claim Central, WNS, Davies Company, 360 GlobalNet, Network Insurance Group, Digital Motor Claims Managemen
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
248
Number of Tables & Figures
174
Customization Available
Yes, the report can be customized as per your need.
Global Digital Motor Claims Management Market Report Segments:
The global Digital Motor Claims Management market is segmented on the basis of:
Types
On-premise, Cloud Based, Digital Motor Claims Managemen
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Small Business, Medium-sized Business, Large Business
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- AXA
- Ageas
- INube
- Swiss Post Solutions
- Audatex
- Openclaims
- BSynchro
- Xtract
- Claim Central
- WNS
- Davies Company
- 360 GlobalNet
- Network Insurance Group
- Digital Motor Claims Managemen
Highlights of The Digital Motor Claims Management Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- On-premise
- Cloud Based
- Digital Motor Claims Managemen
- By Application:
- Small Business
- Medium-sized Business
- Large Business
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Digital Motor Claims Management Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Digital Motor Claims Management (DMCM) is a software application that helps organizations manage and track motor vehicle claims. DMCM allows administrators to create, update, and manage claim files; communicate with claimants; and monitor the status of claims.
Some of the key players operating in the digital motor claims management market are AXA, Ageas, INube, Swiss Post Solutions, Audatex, Openclaims, BSynchro, Xtract, Claim Central, WNS, Davies Company, 360 GlobalNet, Network Insurance Group, Digital Motor Claims Managemen.
The digital motor claims management market is expected to grow at a compound annual growth rate of 10.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Digital Motor Claims Management Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Digital Motor Claims Management Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Digital Motor Claims Management Market - Supply Chain
4.5. Global Digital Motor Claims Management Market Forecast
4.5.1. Digital Motor Claims Management Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Digital Motor Claims Management Market Size (000 Units) and Y-o-Y Growth
4.5.3. Digital Motor Claims Management Market Absolute $ Opportunity
5. Global Digital Motor Claims Management Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Digital Motor Claims Management Market Size and Volume Forecast by Type
5.3.1. On-premise
5.3.2. Cloud Based
5.3.3. Digital Motor Claims Managemen
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Digital Motor Claims Management Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Digital Motor Claims Management Market Size and Volume Forecast by Application
6.3.1. Small Business
6.3.2. Medium-sized Business
6.3.3. Large Business
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Digital Motor Claims Management Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Digital Motor Claims Management Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Digital Motor Claims Management Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Digital Motor Claims Management Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Digital Motor Claims Management Demand Share Forecast, 2019-2026
9. North America Digital Motor Claims Management Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Digital Motor Claims Management Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Digital Motor Claims Management Market Size and Volume Forecast by Application
9.4.1. Small Business
9.4.2. Medium-sized Business
9.4.3. Large Business
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Digital Motor Claims Management Market Size and Volume Forecast by Type
9.7.1. On-premise
9.7.2. Cloud Based
9.7.3. Digital Motor Claims Managemen
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Digital Motor Claims Management Demand Share Forecast, 2019-2026
10. Latin America Digital Motor Claims Management Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Digital Motor Claims Management Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Digital Motor Claims Management Market Size and Volume Forecast by Application
10.4.1. Small Business
10.4.2. Medium-sized Business
10.4.3. Large Business
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Digital Motor Claims Management Market Size and Volume Forecast by Type
10.7.1. On-premise
10.7.2. Cloud Based
10.7.3. Digital Motor Claims Managemen
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Digital Motor Claims Management Demand Share Forecast, 2019-2026
11. Europe Digital Motor Claims Management Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Digital Motor Claims Management Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Digital Motor Claims Management Market Size and Volume Forecast by Application
11.4.1. Small Business
11.4.2. Medium-sized Business
11.4.3. Large Business
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Digital Motor Claims Management Market Size and Volume Forecast by Type
11.7.1. On-premise
11.7.2. Cloud Based
11.7.3. Digital Motor Claims Managemen
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Digital Motor Claims Management Demand Share, 2019-2026
12. Asia Pacific Digital Motor Claims Management Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Digital Motor Claims Management Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Digital Motor Claims Management Market Size and Volume Forecast by Application
12.4.1. Small Business
12.4.2. Medium-sized Business
12.4.3. Large Business
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Digital Motor Claims Management Market Size and Volume Forecast by Type
12.7.1. On-premise
12.7.2. Cloud Based
12.7.3. Digital Motor Claims Managemen
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Digital Motor Claims Management Demand Share, 2019-2026
13. Middle East & Africa Digital Motor Claims Management Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Digital Motor Claims Management Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Digital Motor Claims Management Market Size and Volume Forecast by Application
13.4.1. Small Business
13.4.2. Medium-sized Business
13.4.3. Large Business
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Digital Motor Claims Management Market Size and Volume Forecast by Type
13.7.1. On-premise
13.7.2. Cloud Based
13.7.3. Digital Motor Claims Managemen
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Digital Motor Claims Management Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Digital Motor Claims Management Market: Market Share Analysis
14.2. Digital Motor Claims Management Distributors and Customers
14.3. Digital Motor Claims Management Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. AXA
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Ageas
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. INube
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Swiss Post Solutions
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Audatex
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Openclaims
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. BSynchro
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Xtract
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Claim Central
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. WNS
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Davies Company
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. 360 GlobalNet
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Network Insurance Group
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Digital Motor Claims Managemen
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook