The global insurance telematics market size is expected to reach USD 14.74 billion by 2030, registering a CAGR of 22.2% from 2025 to 2030. Insurance telematics provide accurate data about driver behavior and vehicle operations, which provides visibility and actionable data for claim processes. Additionally, the device helps in minimizing fraudulent claims and minimizes losses in this area. These factors are expected to boost the growth of the market over the forecast period. In addition, decline in the cost of supporting technologies such as wireless sensor network, GPS, and computer analytics is another factor contributing to the market growth.
Factors such as OpenStreetMap (OSM) project, plug-and-play devices, rising adoption of smartphone, and ability of smartphones to connect with on-board vehicles wirelessly using Bluetooth is further expected to propel the market growth. Advanced generation of telematics devices work effectively with fleets, business processes, and fleet managers. Therefore, it becomes easy for insurers to choose within a broad spectrum of data and feedback sources. Considering the long-term gains in the auto insurance sector, the market encourages mutual partnerships with telematics service providers that helps in eliminating the design and deployment complexities pertaining to IT and analytics services. Furthermore, logistics and support hold equal importance from the implementation perspective that offers high assurance in long-term maintenance.
Europe represents a steady market growth owing to significant presence of the telematics industry in Italy and U.K. Moreover, other regional markets in Europe such as Spain, Austria, France, Switzerland, and Germany have exhibited lucrative growth opportunities and resulted in a considerable market share owing to the growing automotive sector. The Europe market spans independent insurers as well as collaborative insurers that offer incentive programs based on varying degrees. Therefore, the value chain for insurance telematics in Europe beholds notable presence of key players with effective insurance programs to offer to their clients.
This product will be delivered within 1-3 business days.
Factors such as OpenStreetMap (OSM) project, plug-and-play devices, rising adoption of smartphone, and ability of smartphones to connect with on-board vehicles wirelessly using Bluetooth is further expected to propel the market growth. Advanced generation of telematics devices work effectively with fleets, business processes, and fleet managers. Therefore, it becomes easy for insurers to choose within a broad spectrum of data and feedback sources. Considering the long-term gains in the auto insurance sector, the market encourages mutual partnerships with telematics service providers that helps in eliminating the design and deployment complexities pertaining to IT and analytics services. Furthermore, logistics and support hold equal importance from the implementation perspective that offers high assurance in long-term maintenance.
Europe represents a steady market growth owing to significant presence of the telematics industry in Italy and U.K. Moreover, other regional markets in Europe such as Spain, Austria, France, Switzerland, and Germany have exhibited lucrative growth opportunities and resulted in a considerable market share owing to the growing automotive sector. The Europe market spans independent insurers as well as collaborative insurers that offer incentive programs based on varying degrees. Therefore, the value chain for insurance telematics in Europe beholds notable presence of key players with effective insurance programs to offer to their clients.
Insurance Telematics Market Report Highlights
- The Pay-how-you-drive (PHYD) segment is anticipated to witness highest growth rate over the forecast period. PHYD insurance policies are behavior based and provide accurate estimation of risk involved in the driving, which will increase its demand in connected cars over the forecast period
- The flexible and scalable infrastructure of cloud-based telematics allows the analysis of large volumes of data generated from multiple sensors installed on vehicles and for handling multiple devices
- The large enterprises segment accounted for largest market share in 2024 in terms of revenue and is expected to maintain its dominance over the forecast period owing to high adoption of smartphones and mobile telematics
- The commercial vehicle segment is expected to emerge as the fastest-growing end use segment over the next six years as the prominent market players are offering exclusive package of telematics services including driver behavior assessment, mobile app for fleet drivers, data feeds, and vehicle enablers for commercial units
- North America held the largest share in 2024 owing to significant presence of technology providers and robust infrastructure for installing the device
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
This product will be delivered within 1-3 business days.
Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Insurance Telematics Market Variables, Trends, & Scope
Chapter 4. Insurance Telematics Market: Offering Estimates & Trend Analysis
Chapter 5. Insurance Telematics Market: Type Estimates & Trend Analysis
Chapter 6. Insurance Telematics Market: Deployment Estimates & Trend Analysis
Chapter 7. Insurance Telematics Market: Enterprise Size Estimates & Trend Analysis
Chapter 8. Insurance Telematics Market: End Use Estimates & Trend Analysis
Chapter 9. Insurance Telematics Market: Regional Estimates & Trend Analysis
Chapter 10. Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
- Agero, Inc.
- Aplicom
- Trak Global Solutions Holdings (Canada) Inc.
- Masternaut Limited
- META SYSTEM S.P.A.
- MiX by Powerfleet
- Octo Group S.p.A
- Bridgestone Mobility Solutions B.V.
- Trimble
- Sierra Wireless S.A.
Methodology
LOADING...
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 120 |
Published | November 2024 |
Forecast Period | 2024 - 2030 |
Estimated Market Value ( USD | $ 4.45 Billion |
Forecasted Market Value ( USD | $ 14.74 Billion |
Compound Annual Growth Rate | 22.2% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |