Dublin, Aug. 13, 2018 (GLOBE NEWSWIRE) -- The "Global Automotive Telematics Insurance Market: Focus on Usage-based Insurance (UBI) , Smartphone, Hardwired, OBD, Aftermarket, OEM Fitment, Supply Chain, Passenger Vehicle, and Commercial Vehicle - Analysis and Forecast, 2018-2022" report has been added to ResearchAndMarkets.com's offering. In 2017, the global automotive telematics insurance market volume was estimated 24.7 million units, which is expected to reach 169.8 million units by 2022. Factors owing to this growth are an increase in the availability of digital technology, growing safety concerns related to driving behavior, and an increase in the competition in the automotive insurance market, among others. The estimated CAGR for the forecast period 2018-2022 is 37.20%.
A major emerging market within the automotive telematics industry is the insurance market. Automotive telematics insurance has been in the market since the 1990's, though its penetration level in the conventional insurance domain has been very low. Since 2005, the market activities such as emerging technology players in Europe and North America, growth in telematics system in vehicles, advancement of smartphone capabilities, and low cost of networking and communication have led to exponential growth. The growth of social media has resulted in a higher application-based online user time, thus widening the scope of app-based smartphone services. Significant countries which have deployed automotive telematics insurance are the U.S., the U.K., Italy, Canada, Singapore, and Japan, among others. An insurer utilizes telematics digital opportunity to enhance its automotive insurance business model. The advantages of automotive telematics insurance are throughout all levels of the supply chain. It can increase the profitability for the insurer and end user, higher customer engagement and feedbacks, and induce a sense of safe driving through various direct/indirect programs. The global automotive telematics insurance market supply chain has the following levels: service/platform solution providers, device manufacturers, insurance companies, system integrators, and end users. The purpose of this research study is to analyze the market and derive answers for the following questions which would impact the future of the automotive telematics insurance market.
The questions are as follows:
- What are the major market drivers, challenges, and opportunities in the global automotive telematics insurance market?
- What is the service flow in the global automotive telematics insurance market?
- What was the market value of the leading segments and sub-segments of the global automotive telematics insurance market in 2017?
- How will each segment of the global automotive telematics insurance market grow during the forecast period 2018-2022?
- What are the factors which influence the market demand for various devices used in the global automotive telematics insurance market?
- How will the industry evolve during the forecast period 2018-2022?
- What are the key developmental strategies that are implemented by the key players to sustain in this market?
- Who are the key players in the automotive telematics insurance market and what are their contributions?
- What are the region-specific key growth factors that would drive the market through the forecast period for the Americas, EMEA, and APAC?
- What is the scope of automotive telematics insurance in the emerging economies of APAC?
The report includes an exhaustive analysis of the geographical split into the Americas, EMEA, and APAC. Each geographical region analysis details the individual driving and restraining forces acting in the market in addition to the key players from that particular region. The report examines the role of the leading market players involved in the industry. The Company Profiles section includes highlights of significant information about the key companies involved along with their financial positions, key strategies, and developmental activities of recent years (2015-2018).
Some of the key players analyzed in the report are 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.
Key Topics Covered:
Executive Summary
1 Market Dynamics 1.1 Global Automotive Telematics Insurance Market Definition 1.1.1 Introduction 1.1.2 Market Drivers 1.1.2.1 High Customer Engagement through UBI Platform 1.1.2.2 UBI Offers Better Pricing and Feature Flexibility for End Users 1.1.2.3 Growing Number of Fraud Claims and Increasing Insurance Premiums 1.1.3 Market Restraints 1.1.3.1 Data Management and Security 1.1.3.2 Automotive Insurance Market Resistance toward Digital Solution 1.1.3.3 Automotive telematics insurance Market has a low penetration 1.1.3.4 Myths about Automotive Telematics Insurance 1.1.4 Market Opportunities 1.1.4.1 Growth in Autonomous Driving Systems 1.1.4.2 Growing Focus on Safe Driving Habits and Vehicle Health Management 2 Competitive Insights 2.1 Introduction 2.2 Key Developments and Strategies 2.2.1 Market Position of Key Players 3 Industry Insights 3.1 Supply Chain 3.2 Business Models 3.2.1 Telematics Data in Usage-based Insurance Business 4 Global Automotive Telematics Insurance Market (by DeviceType) 4.1 Assumptions and Limitations for Market Size Calculations 4.2 Overview 4.2.1 Market Analysis and Forecast 4.3 Hardwired 4.4 On-board Device (OBD) 4.5 Smartphone 4.6 Embedded 5 Global Automotive Telematics Insurance Market (by Distribution Channels) 5.1 Overview 5.1.1 Market Analysis and Forecast 5.2 Aftermarket 5.3 OEM 6 Global Automotive Telematics Insurance Market (by Vehicle Type) 6.1 Overview 6.1.1 Factors Defining Vehicle Type 6.1.2 Market Analysis and Forecast 6.2 Passenger Vehicle 6.2.1 Case Study 6.3 Commercial Vehicle 6.3.1 Case Study 7 Global Automotive Telematics Insurance Market (by Region) 8 Company Profiles
- Agero Inc.
- Amodo Ltd.
- AXA Group
- Baseline Telematics
- CalAmp Corp.
- Cambridge Mobile Telematics
- Insure Telematics Solutions
- Intelligent Mechatronic Systems
- Octo Telematics Ltd
- The Floow Limited
- The Progressive Corporation
- TomTom
- Trakm8 Group
- TrueMotion Inc.
- Verizon Communications, Inc.
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