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The telematics market in insurance industry size is forecast to increase by USD 4.35 billion at a CAGR of 20.6% between 2023 and 2028. The telematics market in the insurance industry is experiencing significant growth due to the adoption of telematics-driven Usage-Based Insurance (UBI) and the optimization of customer communication. Telematics enables vehicle detection, fleet management, and data tracking through microcontroller hardware platforms and Wi-Fi connectivity. This data is processed through cloud-based servers and used to provide customized insurance policies based on individual risk profiles. Moreover, the integration of IoT-enabled telematics solutions in transportation, building, and site trenching industries is expanding the market's reach. Aftermarket solutions, surveillance systems, video feeds, and other advanced features are enhancing the safety and security concerns associated with telematics in the insurance industry.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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