Pune, Maharashtra -- (SBWire) -- 09/05/2023 --HTF MI introduces new research on Insurance Telematic covering the micro level of analysis by competitors and key business segments (2023-2029). The Insurance Telematic explores a comprehensive study of various segments like opportunities, size, development, innovation, sales, and overall growth of major players. The research is carried out on primary and secondary statistics sources and it consists of both qualitative and quantitative detailing. Some of the major key players profiled in the study are Octo Telematics S.p.A, Aplicom, Intelligent Mechatronic System, Meta System S.p.A, Agero, Masternaut Ltd., Verizon, MiX Telematics Ltd., TomTom Telematics BV, IMS, TRIMBLE, Sierra Wireless.

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According to HTF Market Intelligence, the Global Insurance Telematic market to witness a CAGR of 21.6% during forecast period of 2023-2029. The market is segmented by Application (Large Enterprises, Small and Medium Organizations) by Type (Cloud, On-premises) and by Geography (North America, South America, Europe, Asia Pacific, MEA).

Definition:
Insurance Telematic is referred to as a mode of ensuring the majority of a business with future security, the demand of the market is anticipated to rise in the coming years. Insurance telematics devices are mainly used by the company of automobile insurance to track the driving behavior of the customer, and depending on the driving behavior of a driver there can be changes in the insurance premiums. The telematics market for the insurance industry is grow in the next few years steadily, The reason behind this is the decrease in the cost of connectivity solutions, like wireless and cellular modes, and the use of predictive analysis which enables the users to produce the drive risk score from telematics data

Market Trends:
- Increased Traction for Risk Assessment and Management

Market Drivers:
- Consumer’s Enthusiasm for In-Car Connectivity
- Growth of Smartphone Penetration
- Decreasing Cost of Connectivity Solutions
- Increase in Regulatory Compliance and Regulations

Market Opportunities:
- Growing Impetus to IoT
- Increased Demand for Insurance Telematics Across the Insurance and Automotive Sector

Which market aspects are illuminated in the report?
Executive Summary: It covers a summary of the most vital studies, the Insurance Telematic market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.

Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Insurance Telematic market, the years measured, and the study points.

Company Profile: Each Firm well-defined in this segment is screened based on a product's, value, SWOT analysis, ability, and other significant features.

Manufacture by region: This Insurance Telematic report offers data on imports and exports, sales, production, and key companies in all studied regional markets

Highlighted of Insurance Telematic Market Segments and Sub-Segment:
Insurance Telematic Market by Key Players: Octo Telematics S.p.A, Aplicom, Intelligent Mechatronic System, Meta System S.p.A, Agero, Masternaut Ltd., Verizon, MiX Telematics Ltd., TomTom Telematics BV, IMS, TRIMBLE INC., Sierra Wireless

Insurance Telematic Market by Types: Cloud, On-premises

Insurance Telematic Market by End-User/Application: Large Enterprises, Small and Medium Organizations

Insurance Telematic Market by Geographical Analysis:
- APAC (Japan, China, South Korea, Australia, India, and the Rest of APAC; the Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (U.S., Canada, and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, UAE, South Africa)

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The study is a source of reliable data on Market segments and sub-segments, Market trends and dynamics Supply and demand Market size Current trends/opportunities/challenges Competitive landscape Technological innovations Value chain, and investor analysis.

Interpretative Tools in the Market: The report integrates the entirely examined and evaluated information of the prominent players and their position in the market by methods for various descriptive tools. The methodical tools including SWOT analysis, Porter's five forces analysis, and investment return examination were used while breaking down the development of the key players performing in the market.

Key Growths in the Market: This section of the report incorporates the essential enhancements of the marker that contains assertions, coordinated efforts, R&D, new item dispatch, joint ventures, and associations of leading participants working in the market.

Key Points in the Market: The key features of this Insurance Telematic market report includes production, production rate, revenue, price, cost, market share, capacity, capacity utilization rate, import/export, supply/demand, and gross margin. Key market dynamics plus market segments and sub-segments are covered.

Research Objectives:
- Focuses on the key manufacturers, to define, pronounce and examine the value, sales volume, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
- To share comprehensive information about the key factors influencing the growth of the market (opportunities, drivers, growth potential, industry-specific challenges and risks).
- To analyze the with respect to individual future prospects, growth trends and their involvement to the total market.
- To analyze reasonable developments such as agreements, expansions new product launches, and acquisitions in the market.
- To deliberately profile the key players and systematically examine their growth strategies.

FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
- Political (Political policy and stability as well as trade, fiscal, and taxation policies)
- Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
- Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
- Technological (Changes in digital or mobile technology, automation, research, and development)
- Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
- Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)

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