Global Automotive Telematics Insurance Market 2018-2022 – Growing Focus on Safe Driving Habits and Vehicle Health Management – ResearchAndMarkets.com

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DUBLIN--(BUSINESS WIRE)-- The "Global Automotive Telematics Insurance Market: Focus on Usage-based Insurance (UBI), Smartphone, Hardwired, OBD, Aftermarket, OEM Fitment, Supply Chain, Passenger Vehicle, and Commercial Vehicle - Analysis and Forecast, 2018-2022" report has been added to ResearchAndMarkets.com's offering.

The global volumes of automotive vehicles are expected to grow at a CAGR of 3% during the forecast period.

The global parked vehicle volume is one of the keys to analyze the global potential of the automotive telematics insurance market. The following figure depicts the recorded volume for 2016 and 2017 and expected volume for the forecast 2018-2022. The global parked vehicle volume is expected to increase at a sustained growth rate. A high gradient for Passenger Vehicle (PV) indicates higher growth as compared to Commercial Vehicle (CV).

In 2017, the global automotive telematics insurance market volume was estimated 24.7 million units, which is expected to reach 169.8 million units by 2022. Factors owing to this growth are an increase in the availability of digital technology, growing safety concerns related to driving behavior, and an increase in the competition in the automotive insurance market, among others. The estimated CAGR for the forecast period 2018-2022 is 37.20%.

The market estimation considers a detailed, in-depth analysis of factors impacting various regional markets and industrial trends. The highest growth period is 2017-2019, and the estimated cumulative growth rate for the period would be ~245%, which is led by the surge in the number of new market entrants and automotive telematics insurance product launches.

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