Telematics Market in Insurance Industry: A Deep Dive Into Factors that will Help Vendors Stay Ahead of Competitors - Technavio

Vendors are deploying growth strategies such as price, quality, innovation, reputation, brand identity, and distribution to compete in the market

NEW YORK, Sept. 14, 2022 /PRNewswire/ -- One of the key vendors operating in the telematics market in insurance industry is Agero inc. The company offers telematic solutions that make handling a vehicle breakdown or accident easy. It is also involved in engaging a curated network of background-checked service providers covering every zip code in the US. The market also has the presence of a few other major players, such as Aplicom Ltd., Aviva Plc, AXA Group, Masternaut Ltd., and Mercedes Benz Group AG, Meta System S.p.A.

The telematics market share in the insurance industry is fragmented, characterized by the presence of a few large, medium, and small-scale vendors. The rivalry among vendors is intense, which poses a risk to their operations. High product differentiation among vendors further intensifies the competition in the market. Small vendors will find it difficult to compete with large vendors based on quality, technology, and price. Moreover, global vendors are expected to increase their market share by acquiring regional or local players

Key strategies used by vendors to overcome the above challenges have been identified by Technavio. Vendors compete based on parameters such as price, quality, innovation, reputation, brand identity, and distribution. To thrive in such a competitive environment, it becomes imperative for vendors to differentiate their product offerings through a clear and unique value proposition.

Technavio's reports provide key strategic initiatives used by vendors, along with key news and the latest developments. View our FREE PDF Sample Report Now

The size of the telematics market share in the insurance industry is expected to grow by USD 3.96 billion from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 19.36% during the forecast period.

Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format

Vendors in the telematics market share in the insurance industry can take advantage of a few factors that will work in their favor. One of these factors include cost savings due to the adoption of telematics-enabled UBI. With the help of UBI, insurers can create risk profiles based on real-time driving behavior tracked by onboard units (OBU) for individual customers. Factors such as low insurance premium amount and high awareness about the risks of unsafe driving behavior encourage consumers to upgrade their vehicles with UBI.

Technavio has identified key trends, drivers, and challenges in the market, which will help vendors improve their strategies to stay ahead of their competitors. View our FREE PDF Sample Report

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Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Deployment
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Deployment

• 5.1 Market segments
• Exhibit 24: Chart on Deployment - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Deployment - Market share 2021-2026 (%)

• 5.2 Comparison by Deployment
• Exhibit 26: Chart on Comparison by Deployment
• Exhibit 27: Data Table on Comparison by Deployment

• 5.3 On-premise - Market size and forecast 2021-2026
• Exhibit 28: Chart on On-premise - Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on On-premise - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on On-premise - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on On-premise - Year-over-year growth 2021-2026 (%)

• 5.4 Cloud - Market size and forecast 2021-2026
• Exhibit 32: Chart on Cloud - Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Cloud - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Cloud - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Cloud - Year-over-year growth 2021-2026 (%)

• 5.5 Market opportunity by Deployment
• Exhibit 36: Market opportunity by Deployment ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview
• Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation
• Exhibit 38: Chart on Market share by geography 2021-2026 (%)
• Exhibit 39: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison
• Exhibit 40: Chart on Geographic comparison
• Exhibit 41: Data Table on Geographic comparison

• 7.3 North America - Market size and forecast 2021-2026
• Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.4 APAC - Market size and forecast 2021-2026
• Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.5 Europe - Market size and forecast 2021-2026
• Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.6 South America - Market size and forecast 2021-2026
• Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.7 Middle East and Africa - Market size and forecast 2021-2026
• Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 7.8 US - Market size and forecast 2021-2026
• Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.9 China - Market size and forecast 2021-2026
• Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.10 Germany - Market size and forecast 2021-2026
• Exhibit 70: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 7.11 Japan - Market size and forecast 2021-2026
• Exhibit 74: Chart on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on Japan - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on Japan - Year-over-year growth 2021-2026 (%)

• 7.12 UK - Market size and forecast 2021-2026
• Exhibit 78: Chart on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on UK - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on UK - Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography
• Exhibit 82: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges
• Exhibit 83: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape
• Exhibit 84: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption
• Exhibit 85: Overview on factors of disruption

• 9.4 Industry risks
• Exhibit 86: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered
• Exhibit 87: Vendors covered

• 10.2 Market positioning of vendors
• Exhibit 88: Matrix on vendor position and classification

• 10.3 Agero Inc.
• Exhibit 89: Agero Inc. - Overview
• Exhibit 90: Agero Inc. - Product / Service
• Exhibit 91: Agero Inc. - Key offerings

• 10.4 Masternaut Ltd.
• Exhibit 92: Masternaut Ltd. - Overview
• Exhibit 93: Masternaut Ltd. - Product / Service
• Exhibit 94: Masternaut Ltd. - Key offerings

• 10.5 Mercedes Benz Group AG
• Exhibit 95: Mercedes Benz Group AG - Overview
• Exhibit 96: Mercedes Benz Group AG - Business segments
• Exhibit 97: Mercedes Benz Group AG - Key offerings
• Exhibit 98: Mercedes Benz Group AG - Segment focus

• 10.6 Meta System S.p.A
• Exhibit 99: Meta System S.p.A - Overview
• Exhibit 100: Meta System S.p.A - Product / Service
• Exhibit 101: Meta System S.p.A - Key offerings

• 10.7 Octo Group S.p.A
• Exhibit 102: Octo Group S.p.A - Overview
• Exhibit 103: Octo Group S.p.A - Product / Service
• Exhibit 104: Octo Group S.p.A - Key offerings

• 10.8 Sierra Wireless Inc.
• Exhibit 105: Sierra Wireless Inc. - Overview
• Exhibit 106: Sierra Wireless Inc. - Business segments
• Exhibit 107: Sierra Wireless Inc. - Key offerings
• Exhibit 108: Sierra Wireless Inc. - Segment focus

• 10.9 TomTom International BV
• Exhibit 109: TomTom International BV - Overview
• Exhibit 110: TomTom International BV - Business segments
• Exhibit 111: TomTom International BV - Key offerings
• Exhibit 112: TomTom International BV - Segment focus

• 10.10 Trak Global Group
• Exhibit 113: Trak Global Group - Overview
• Exhibit 114: Trak Global Group - Product / Service
• Exhibit 115: Trak Global Group - Key news
• Exhibit 116: Trak Global Group - Key offerings

• 10.11 Trimble Inc.
• Exhibit 117: Trimble Inc. - Overview
• Exhibit 118: Trimble Inc. - Business segments
• Exhibit 119: Trimble Inc. - Key offerings
• Exhibit 120: Trimble Inc. - Segment focus

• 10.12 Verizon Communications Inc.
• Exhibit 121: Verizon Communications Inc. - Overview
• Exhibit 122: Verizon Communications Inc. - Business segments
• Exhibit 123: Verizon Communications Inc. - Key offerings
• Exhibit 124: Verizon Communications Inc. - Segment focus

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist
• Exhibit 125: Inclusions checklist
• Exhibit 126: Exclusions checklist

• 11.3 Currency conversion rates for US$
• Exhibit 127: Currency conversion rates for US$

• 11.4 Research methodology
• Exhibit 128: Research methodology
• Exhibit 129: Validation techniques employed for market sizing
• Exhibit 130: Information sources

• 11.5 List of abbreviations
• Exhibit 131: List of abbreviations

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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