Market Overview:
The global automotive telematics insurance market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for connected cars and the rising number of road accidents across the globe. The global automotive telematics insurance market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into hardwired, on-board device, smartphone app-based, and embedded systems. The passenger vehicle segment is expected to account for a major share of this market in terms of revenue during the forecast period owing to an increase in sales of passenger vehicles globally. In terms of application, this market can be classified into commercial vehicles and passenger vehicles segments.
Product Definition:
Telematics insurance is a type of automobile insurance that uses GPS tracking and other sensors to monitor a vehicle's location and driving habits. This information is used to calculate premiums, provide discounts, and assess risk.
Hardwired:
Hardwired telematics is a system that enables the transfer of data and information from an electronic device to another location using cables. The cable can be connected to both ends, one end being fixed and other end being attached to the vehicle’s electrical system. This wired technology is used in automotive telematics insurance as well as in automotive electronics for safety features such as anti-theft alarm systems, adaptive cruise control, lane departure warning systems etc.
On-Board Device:
On-board devices are the electronic devices that are mounted on a vehicle for facilitating operations such as driving, safety and security, diagnostics, entertainment and information. They constitute a significant portion of the cost of automotive telematics insurances. The average size of an OBD is 2.1 inches in length and 1 inch in width with mounting locations for up to 8 sensors or diagnostic modules along with it's power source (12Volt).
Application Insights:
The passenger vehicle segment accounted for the largest revenue share in 2016 and is anticipated to continue its dominance over the forecast period. The rising number of fatalities and injuries caused by road accidents has led to an increase in demand for safety features, such as airbags, anti-lock braking systems (ABS), electronic stability control (ESC) and tire pressure monitoring systems (TPMS). Automotive telematics insurances cover these safety features under one roof through on-board device integration with a smartphone application that provides real-time tracking information about vehicle status.
Commercial vehicles are expected to witness significant growth over the forecast period owing to increasing investments by companies such as Daimler AG; Mercedes Benz; International trucks Inc.; Volvo AB; Foton Motor Group Co., Ltd.; Iveco S.p.A.
Regional Analysis:
North America accounted for the largest revenue share in 2017. The region is expected to maintain its lead throughout the forecast period owing to factors such as technological advancements, high vehicle penetration, and stringent regulations regarding road safety. Europe is also estimated to witness considerable growth over the coming years due to increasing R&D investments by various companies and rising demand for connected cars with enhanced safety features.
Asia Pacific telematics insurance market is anticipated to grow at a lucrative rate over the forecast period owing to increasing disposable income of consumers coupled with growing automotive industry in countries such as China, India, Japan and South Korea among others.
The Middle East & Africa (MEA) market has huge potential due both positively.
Growth Factors:
- Increasing demand for safety and security features in vehicles
- Rising number of accidents and fatalities due to road mishaps
- Proliferation of connected cars and autonomous vehicles
- Government regulations mandating the use of telematics systems in automobiles
- Growing popularity of car-sharing services
Scope Of The Report
Report Attributes
Report Details
Report Title
Automotive Telematics Insurances Market Research Report
By Type
Hardwired, On-Board Device, Smartphone, Embedded
By Application
Passenger Vehicle, Commercial Vehicle, Others
By Companies
Octo Telematics, CalAmp, Agero, AXA, Intelligent Mechatronic Systems, Trakm8, TrueMotion
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
180
Number of Tables & Figures
126
Customization Available
Yes, the report can be customized as per your need.
Global Automotive Telematics Insurances Market Report Segments:
The global Automotive Telematics Insurances market is segmented on the basis of:
Types
Hardwired, On-Board Device, Smartphone, Embedded
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
Passenger Vehicle, Commercial Vehicle, Others
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:
- Octo Telematics
- CalAmp
- Agero
- AXA
- Intelligent Mechatronic Systems
- Trakm8
- TrueMotion
Highlights of The Automotive Telematics Insurances 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:
- Hardwired
- On-Board Device
- Smartphone
- Embedded
- By Application:
- Passenger Vehicle
- Commercial Vehicle
- Others
- 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 Automotive Telematics Insurances 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?
Automotive telematics insurances are a type of insurance that covers losses or damages to vehicles and their components as a result of accidents. Automotive telematics insurances can help protect drivers and vehicle owners from financial losses in the event of an accident.
Some of the major players in the automotive telematics insurances market are Octo Telematics, CalAmp, Agero, AXA, Intelligent Mechatronic Systems, Trakm8, TrueMotion.
The automotive telematics insurances market is expected to grow at a compound annual growth rate of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Automotive Telematics Insurances Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Automotive Telematics Insurances Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Automotive Telematics Insurances Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Automotive Telematics Insurances Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Automotive Telematics Insurances Market Size & Forecast, 2020-2028 4.5.1 Automotive Telematics Insurances Market Size and Y-o-Y Growth 4.5.2 Automotive Telematics Insurances Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Hardwired
5.2.2 On-Board Device
5.2.3 Smartphone
5.2.4 Embedded
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Passenger Vehicle
6.2.2 Commercial Vehicle
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Automotive Telematics Insurances Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Automotive Telematics Insurances Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Hardwired
9.6.2 On-Board Device
9.6.3 Smartphone
9.6.4 Embedded
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Passenger Vehicle
9.10.2 Commercial Vehicle
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Hardwired
10.6.2 On-Board Device
10.6.3 Smartphone
10.6.4 Embedded
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Passenger Vehicle
10.10.2 Commercial Vehicle
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Hardwired
11.6.2 On-Board Device
11.6.3 Smartphone
11.6.4 Embedded
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Passenger Vehicle
11.10.2 Commercial Vehicle
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Hardwired
12.6.2 On-Board Device
12.6.3 Smartphone
12.6.4 Embedded
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Passenger Vehicle
12.10.2 Commercial Vehicle
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size 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 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Hardwired
13.6.2 On-Board Device
13.6.3 Smartphone
13.6.4 Embedded
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Passenger Vehicle
13.10.2 Commercial Vehicle
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Automotive Telematics Insurances Market: Competitive Dashboard
14.2 Global Automotive Telematics Insurances Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Octo Telematics
14.3.2 CalAmp
14.3.3 Agero
14.3.4 AXA
14.3.5 Intelligent Mechatronic Systems
14.3.6 Trakm8
14.3.7 TrueMotion