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Insurance Telematics Market by Deployment Type, End User (Small and Medium Enterprises, and Large Enterprises), and by Region (North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America) - Global Forecast and Analysis to 2020

December 2015 | 107 pages | ID: ID58FE59A69EN
MarketsandMarkets

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“Smartphone penetration and consumer’s enthusiasm for in-car connectivity to drive the insurance telematics market”

The insurance telematics market size is expected to grow from USD 857.2 million in 2015 to USD 2.21 billion in 2020, at a Compound Annual Growth Rate (CAGR) of 20.9%. Consumer’s enthusiasm for in-car connectivity and growth of smartphone penetration in insurance and automobile sector are among the factors driving the insurance telematics market. The other factor driving the growth of the insurance telematics market is the increase in regulatory compliances and regulations. Furthermore, the market is expected to be driven by opportunities such as the growth in IoT and increased demand for telematics solutions in insurance and automotive sector.

“Large enterprises are estimated to contribute the largest market share duing the forecast period”

Owing to the emergence of digital channels and evolution of technological advancement in cloud and mobile business operations, data infringement issues, and operational risks, large enterprises are investing heavily in these solutions to simplify their insurance process and sustain competitive advantage. Insurance telematics cloud deployment is expected to grow with the highest rate from 2015 to 2020. However, on-premises deployment is expected to contribute the largest market share during the forecast period.

Asia-Pacific (APAC) is expected to be the fastest growing market in the insurnace telematics market

In terms of regions, the insurance telematics market is segmented into five major regional segments, namely, North America, APAC, Europe, Latin America, and Middle East and Africa (MEA). Out of the five major regions, APAC is likely to lead the market in terms of market growth, followed by Latin America. Whereas, North America will continue to have the largest market share during the forecast period. However, the increased need to introduce innovative insurance plans such as UBI, PAYDAYS, and PHYD and induce control and visibility mechanisms has led to a wider demand among insurance and automotive enterprises for insurance telematics applications in the APAC region.

Breakdown of Primaries:

In the process of determining and verifying the market size for several segments and sub-segments gathered using secondary research, extensive primary interviews were conducted. Various key people in Tier 1, Tier 2, and Tier 3 companies were contacted for primary interviews. The interviews were conducted with CEOs, CIOs, vice presidents, marketing directors, insurance telematics technologists, and other innovation and technology directors and executives from various key organizations operating in the insurance telematics marketplace. Primary interviews were conducted worldwide covering North America, Europe, APAC, MEA, and Latin America.

Distribution of primary interviews is as follows

By Company Type: Tier 1- 55%, Tier2-20%, and Tier 3-25%

By Designation: C-Level-60%, Director Level-25%, and Others-15%

By Region: North America-10%, Europe-20%, Asia-Pacific-40%, and RoW-30%

Note: Others include sales managers, marketing managers, and product managers

The tier of the companies is defined on the basis of their total revenue, as of 2013: Tier 1 = >USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion and Tier 3 = USD 1 billion

Various key insurance telematics vendors and service providers profiled in the report are as follows:

1. Octo Telematics
2. Sierra Wireless, Inc.
3. Agero Inc.
4. Telogis
5. TomTom Telematics.
6. Trimble Navigation
7. Verizon Enterprise Solutions
8. Aplicom
9. MiX Telematics
10. Masternaut Limited

The report will help the market leaders/new entrants in this market in the following ways:

1. This report segments the insurance telematics market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub-segments across different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, mergers and acquisitions.
1 INTRODUCTION

1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 MARKET SCOPE
  1.3.1 MARKETS COVERED
  1.3.2 YEAR CONSIDERED FOR THE STUDY
1.4 CURRENCY
1.5 STAKEHOLDERS
1.6 LIMITATION

2 RESEARCH METHODOLOGY

2.1 RESEARCH DATA
  2.1.1 SECONDARY DATA
    2.1.1.1 key data from secondary sources
  2.1.2 PRIMARY DATA
    2.1.2.1 key data from primary sources
    2.1.2.2 Key industry insights
    2.1.2.3 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
2.2 MARKET SIZE ESTIMATION
  2.2.1 BOTTOM-UP APPROACH
  2.2.2 TOP-DOWN APPROACH
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS

3 EXECUTIVE SUMMARY

4 PREMIUM INSIGHTS

4.1 ATTRACTIVE MARKET OPPORTUNITIES IN INSURANCE TELEMATICS MARKET
4.2 INSURANCE TELEMATICS MARKET, 2015-2020
4.3 INSURANCE TELEMATICS MARKET, BY DEPLOYMENT TYPE AND BY REGION, 2015
4.4 LIFECYCLE ANALYSIS, BY REGION, 2015

5 MARKET OVERVIEW

5.1 INTRODUCTION
  5.1.1 BY DEPLOYMENT TYPE
  5.1.2 BY END USER
  5.1.3 BY REGION
5.2 MARKET DYNAMICS
  5.2.1 DRIVERS
    5.2.1.1 Consumer’s enthusiasm for in-car connectivity
    5.2.1.2 Growth of smartphone penetration
    5.2.1.3 Decreasing cost of connectivity solutions
    5.2.1.4 Increase in regulatory compliance and regulations
    5.2.1.5 Increased traction for risk assessment and management
  5.2.2 RESTRAINTS
    5.2.2.1 Privacy concerns associated with private data of individuals
    5.2.2.2 Lack of standardized system
  5.2.3 OPPORTUNITIES
    5.2.3.1 Growing impetus to IoT
    5.2.3.2 Increased demand of insurance telematics across the insurance and automotive sector
  5.2.4 CHALLENGES
    5.2.4.1 Educating consumers about insurance telematics
    5.2.4.2 Security issues associated with cloud and mobile technologies

6 INDUSTRY TRENDS

6.1 INTRODUCTION
6.2 VALUE CHAIN ANALYSIS
6.3 PORTER’S FIVE FORCES ANALYSIS
  6.3.1 THREAT OF NEW ENTRANTS
  6.3.2 THREAT OF SUBSTITUTES
  6.3.3 BARGAINING POWER OF SUPPLIERS
  6.3.4 BARGAINING POWER OF BUYERS
  6.3.5 INTENSITY OF COMPETITIVE RIVALRY

7 INSURANCE TELEMATICS MARKET ANALYSIS, BY DEPLOYMENT TYPE

7.1 INTRODUCTION
7.2 CLOUD
7.3 ON-PREMISES

8 INSURANCE TELEMATICS MARKET ANALYSIS, BY END USER

8.1 INTRODUCTION
8.2 SME
8.3 LARGE ENTERPRISES

9 GEOGRAPHIC ANALYSIS

9.1 INTRODUCTION
9.2 NORTH AMERICA
9.3 EUROPE
9.4 ASIA-PACIFIC
9.5 MIDDLE EAST AND AFRICA
9.6 LATIN AMERICA

10 COMPETITIVE LANDSCAPE

10.1 OVERVIEW
10.2 COMPETITIVE SITUATION AND TRENDS
  10.2.1 NEW PRODUCT LAUNCHES
  10.2.2 PARTNERSHIPS, AGREEMENTS, AND COLLABORATIONS
  10.2.3 MERGERS AND ACQUISITIONS
  10.2.4 NEW CONTRACTS

11 COMPANY PROFILES

(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*

11.1 INTRODUCTION
11.2 VERIZON ENTERPRISE SOLUTIONS
11.3 TOMTOM TELEMATICS (TOMTOM)
11.4 TRIMBLE NAVIGATION
11.5 MIX TELEMATICS
11.6 SIERRA WIRELESS
11.7 TELOGIS
11.8 MASTERNAUT LIMITED
11.9 AGERO INC.
11.10 APLICOM OY
11.11 OCTO TELEMATICS

*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.

12 APPENDIX

12.1 INDUSTRY EXCERPTS
12.2 MORE DEVELOPMENTS
  12.2.1 NEW PRODUCT DEVELOPMENTS
  12.2.2 PARTNERSHIPS, AGREEMENTS AND COLLABORATIONS
12.3 DISCUSSION GUIDE
12.4 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
12.5 AVAILABLE CUSTOMIZATIONS
12.6 RELATED REPORTS

LIST OF TABLES

Table 1 INSURANCE TELEMATICS MARKET, 2013–2020 (USD MILLION, Y-O-Y %)
Table 2 DRIVERS: IMPACT ANALYSIS
Table 3 RESTRAINTS: IMPACT ANALYSIS
Table 4 OPPORTUNITIES: IMPACT ANALYSIS
Table 5 CHALLENGES: IMPACT ANALYSIS
Table 6 INSURANCE TELEMATICS MARKET SIZE, BY DEPLOYMENT TYPE, 2013–2020 (USD MILLION)
Table 7 CLOUD: INSURANCE TELEMATICS MARKET SIZE, BY END USER, 2013–2020 (USD MILLION)
Table 8 CLOUD: INSURANCE TELEMATICS MARKET SIZE, BY REGION, 2013–2020 (USD MILLION)
Table 9 ON-PREMISES: INSURANCE TELEMATICS MARKET SIZE, BY END USER, 2013–2020 (USD MILLION)
Table 10 ON-PREMISES: INSURANCE TELEMATICS MARKET SIZE, BY REGION, 2013–2020 (USD MILLION)
Table 11 INSURANCE TELEMATICS MARKET SIZE, BY END USER, 2013–2020 (USD MILLION)
Table 12 SME: INSURANCE TELEMATICS MARKET SIZE, BY DEPLOYMENT TYPE, 2013–2020 (USD MILLION)
Table 13 SME: INSURANCE TELEMATICS MARKET SIZE, BY REGION, 2013–2020 (USD MILLION)
Table 14 LARGE ENTERPRISE: INSURANCE TELEMATICS MARKET SIZE, BY DEPLOYMENT TYPE, 2013–2020 (USD MILLION)
Table 15 LARGE ENTERPRISE: INSURANCE TELEMATICS MARKET SIZE, BY REGION, 2013–2020 (USD MILLION)
Table 16 INSURANCE TELEMATICS MARKET SIZE, BY REGION, 2013–2020 (USD MILLION)
Table 17 NORTH AMERICA: INSURANCE TELEMATICS MARKET SIZE, BY END USER, 2013–2020 (USD MILLION)
Table 18 NORTH AMERICA: INSURANCE TELEMATICS MARKET SIZE, BY DEPLOYMENT TYPE, 2013–2020 (USD MILLION)
Table 19 NORTH AMERICA: INSURANCE TELEMATICS MARKET SIZE, BY COUNTRY, 2013–2020 (USD MILLION)
Table 20 UNITED STATES: INSURANCE TELEMATICS MARKET SIZE, BY END USER, 2013–2020 (USD MILLION)
Table 21 CANADA: INSURANCE TELEMATICS MARKET SIZE, BY END USER, 2013–2020 (USD MILLION)
Table 22 EUROPE: INSURANCE TELEMATICS MARKET SIZE, BY END USER, 2013–2020 (USD MILLION)
Table 23 EUROPE: INSURANCE TELEMATICS MARKET SIZE, BY DEPLOYMENT TYPE, 2013–2020 (USD MILLION)
Table 24 EUROPE: INSURANCE TELEMATICS MARKET SIZE, BY COUNTRY, 2013–2020 (USD MILLION)
Table 25 UNITED KINGDOM: INSURANCE TELEMATICS MARKET SIZE, BY END USER, 2013–2020 (USD MILLION)
Table 26 GERMANY: INSURANCE TELEMATICS MARKET SIZE, BY END USER, 2013–2020 (USD MILLION)
Table 27 OTHERS: INSURANCE TELEMATICS MARKET SIZE, BY END USER, 2013–2020 (USD MILLION)
Table 28 ASIA-PACIFIC: INSURANCE TELEMATICS MARKET SIZE, BY END USER, 2013–2020 (USD MILLION)
Table 29 ASIA-PACIFIC: INSURANCE TELEMATICS MARKET SIZE, BY DEPLOYMENT TYPE, 2013–2020 (USD MILLION)
Table 30 ASIA-PACIFIC: INSURANCE TELEMATICS MARKET SIZE, BY COUNTRY, 2013–2020 (USD MILLION)
Table 31 CHINA: INSURANCE TELEMATICS MARKET SIZE, BY END USER, 2013–2020 (USD MILLION)
Table 32 JAPAN: INSURANCE TELEMATICS MARKET SIZE, BY END USER, 2013–2020 (USD MILLION)
Table 33 OTHERS: INSURANCE TELEMATICS MARKET SIZE, BY END USER, 2013–2020 (USD MILLION)
Table 34 MIDDLE EAST AND AFRICA: INSURANCE TELEMATICS MARKET SIZE, BY END USER, 2013–2020 (USD MILLION)
Table 35 MIDDLE EAST AND AFRICA: INSURANCE TELEMATICS MARKET SIZE, BY DEPLOYMENT TYPE, 2013–2020 (USD MILLION)
Table 36 LATIN AMERICA: INSURANCE TELEMATICS MARKET SIZE, BY END USER, 2013–2020 (USD MILLION)
Table 37 LATIN AMERICA: INSURANCE TELEMATICS MARKET SIZE, BY DEPLOYMENT TYPE, 2013–2020 (USD MILLION)
Table 38 NEW PRODUCT DEVELOPMENTS, 2013–2015
Table 39 PARTNERSHIPS, AGREEMENTS, AND COLLABORATIONS, 2013–2015
Table 40 MERGERS AND ACQUISITIONS, 2013–2015
Table 41 NEW CONTRACTS, 2013–2015
Table 42 NEW PRODUCT DEVELOPMENTS, 2012-2014
Table 43 PARTNERSHIPS, AGREEMENTS AND COLLABORATIONS, 2012–2014

LIST OF FIGURES

Figure 1 GLOBAL INSURANCE TELEMATICS MARKET: RESEARCH DESIGN
Figure 2 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
Figure 3 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
Figure 4 MARKET BREAKDOWN AND DATA TRIANGULATION APPROACH
Figure 5 INSURANCE TELEMATICS MARKET: ASSUMPTIONS
Figure 6 INSURANCE TELEMATICS MARKET SIZE, BY DEPLOYMENT TYPE (2015 VS. 2020): ON-PREMISES IS EXPECTED TO LEAD THE INSURANCE TELEMATICS MARKET
Figure 7 INSURANCE TELEMATICS MARKET SIZE, BY END USER (2015 VS. 2020): LARGE ENTERPRISES WILL CONTINUE DOMINATING THE MARKET
Figure 8 NORTH AMERICA DOMINATES THE INSURANCE TELEMATICS MARKET WHILE ASIA-PACIFIC AND LATIN AMERICA PROJECTING POTENTIAL GROWTH, 2015
Figure 9 GROWING IMPETUS OF IOT IS EXPECTED TO ACT AS AN ATTRACTIVE MARKET OPPORTUNITY
Figure 10 LARGE ENTERPRISES ARE EXPECTED TO ACCOUNT FOR THE LARGEST MARKET SHARE IN THE INSURANCE TELEMATICS MARKET DURING THE FORECAST PERIOD
Figure 11 NORTH AMERICA IS EXPECTED TO DOMINATE THE INSURANCE TELEMATICS MARKET
Figure 12 ASIA-PACIFC IS EXPECTED TO BE IN THE HIGH GROWTH PHASE IN THE COMING YEARS
Figure 13 INSURANCE TELEMATICS MARKET SEGMENTATION: BY DEPLOYMENT TYPE
Figure 14 INSURANCE TELEMATICS MARKET SEGMENTATION: BY END USER
Figure 15 INSURANCE TELEMATICS MARKET SEGMENTATION: BY REGION
Figure 16 INSURANCE TELEMATICS MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
Figure 17 VALUE CHAIN ANALYSIS
Figure 18 PORTER’S FIVE FORCES ANALYSIS: INSURANCE TELEMATICS MARKET
Figure 19 CLOUD DEPLOYMENT MARKET SIZE IS EXPECTED TO GROW SIGNIFICANTLY DURING THE FORECAST PERIOD
Figure 20 SME SEGMENT IS EXPECTED TO EXHIBIT HIGHER GROWTH RATE IN THE INSURANCE TELEMATICS MARKET DURING THE FORECAST PERIOD
Figure 21 ASIA-PACIFIC IS EMERGING AS A NEW HOTSPOT IN THE INSURANCE TELEMATICS MARKET
Figure 22 GEOGRAPHIC SNAPSHOT: NORTH AMERICA IS EXPECTED TO CONTINUE TO HAVE THE LARGEST MARKET SIZE DURING THE FORECAST PERIOD
Figure 23 ASIA-PACIFIC IS THE FASTEST GROWING MARKET IN THE INSURANCE TELEMATICS MARKET, BY END USER
Figure 24 NORTH AMERICA MARKET SNAPSHOT
Figure 25 ASIA-PACIFIC MARKET SNAPSHOT
Figure 26 COMPANIES ADOPTED NEW PRODUCT DEVELOPMENTS AND PARTNERSHIPS, AGREEMENTS, AND COLLABORATIONS AS THE KEY GROWTH STRATEGIES FROM 2013 TO 2015
Figure 27 MARKET EVALUATION FRAMEWORK
Figure 28 BATTLE FOR MARKET SHARE: NEW PRODUCT LAUNCHES WAS THE KEY STRATEGY ADOPTED BY PLAYERS
Figure 29 GEOGRAPHIC REVENUE MIX OF MAJOR PLAYERS
Figure 30 VERIZON ENTERPRISE SOLUTIONS: COMPANY SNAPSHOT
Figure 31 VERIZON ENTERPRISE SOLUTIONS: SWOT ANALYSIS
Figure 32 TOMTOM TELEMATICS: COMPANY SNAPSHOT
Figure 33 TOMTOM TELEMATICS: SWOT ANALYSIS
Figure 34 TRIMBLE NAVIGATION: COMPANY SNAPSHOT
Figure 35 TRIMBLE NAVIGATION: SWOT ANALYSIS
Figure 36 MIX TELEMATICS: COMPANY SNAPSHOT
Figure 37 MIX TELEMATICS: SWOT ANALYSIS
Figure 38 SIERRA WIRELESS: COMPANY SNAPSHOT
Figure 39 SIERRA WIRELESS: SWOT ANALYSIS


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