Insurance Telematics Market Research Study including Growth Factors, Types and Application to 2025

(MoneyNewsWire.Net, September 14, 2018 ) The Global Insurance Telematics Market was valued at USD 1047.17 million in 2016 and is projected to reach USD 5826.52 million by 2025, growing at a CAGR of 21.01% from 2017 to 2025.

Telematics insurance is a way for insurers to analyze the way you drive that allows insurers to calculate risk on the kind of driver you are and adjust the price of your policy accordingly. Telematics insurance benefits the insurers in several ways such as in determining the safe drivers, value-added services and helps with claiming the insurance.

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The emergence of IoT in insurance telematics has increased the need of assessing risk management and has reduced the costs of connectivity solutions. These characteristics are the potential drivers and have increased the overall growth rate of the global insurance telematics market. Apart from this, the absence of standardized system and concerns regarding data privacy of end-user might hamper the growth of global insurance telematics market.

Competitive Landscape:

The major players in the market are as follows:

TOMTOM Telematics
Trimble Navigation
Verizon Enterprise Solutions
Mix Telematics
Sierra Wireless
Octo Telematics
Masternaut Limited
Agero Inc.
Aplicom OY
Telogis

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