How big is the Insurance Telematics Market?

The Insurance Telematics Market size is expected to reach 166.72 million active premiums in 2024 and grow at a CAGR of 29.60% to reach 609.12 million active premiums by 2029. Read More

What is the current Insurance Telematics Market size?

In 2024, the Insurance Telematics Market size is expected to reach 166.72 million active premiums. Read More

Who are the key players in Insurance Telematics Market?

GEICO (Berkshire Hathaway Inc.), UnipolTech SpA (UNIPOL GRUPPO SpA), Octo Telematics SpA, DriveQuant and Imertik Global Inc are the major companies operating in the Insurance Telematics Market. Read More

Which is the fastest growing region in Insurance Telematics Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Insurance Telematics Market?

In 2024, the North America accounts for the largest market share in Insurance Telematics Market. Read More

What years does this Insurance Telematics Market cover, and what was the market size in 2023?

In 2023, the Insurance Telematics Market size was estimated at 117.37 million active premiums. The report covers the Insurance Telematics Market historical market size for years: 2022 and 2023. The report also forecasts the Insurance Telematics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Insurance Telematics Market - Size, Share & Companies

Insurance Telematics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Telematics Insurance Market Companies and the Market is Segmented by Usage Type (Pay-As-You-Drive, Pay-How-You-Drive, Manage-How-You-Drive), by Geography (North America, Europe, Asia-Pacific, and the Rest of the World). The Market Sizes and Forecasts are Provided in Terms of the Number of Active Premiums for all the Above Segments.

Insurance Telematics Industry Overview

The insurance telematics market is highly fragmented due to the presence of global players and small and medium-sized enterprises. Some of the major players in the market are GEICO (Berkshire Hathaway Inc.), UnipolTech SpA (UNIPOL GRUPPO SpA), Octo Telematics SpA, DriveQuant, and Imertik Global Inc. Players in the market are adopting strategies such as partnerships and acquisitions to enhance product offerings and gain sustainable competitive advantage.

• In February 2024, Kia announced that it entered into a strategic partnership with the company to make Kia connected vehicle (CIV) data available to auto insurers in the United States through the company’s Telematics Exchange (“LexisNexis”).

• In December 2023, the Green Insurer partnered with Cambridge Mobile Telematics to launch car insurance that rewards responsible driving. The Green Insurer calculates a driver’s carbon footprint by analyzing driving data and fusing it with information about the vehicle. Cambridge Mobile Telematics (CMT) powers the service with driving data captured from smartphone sensors, transforming into driving and sustainability insights with artificial intelligence.