Insurers Driving Big Growth In Telematics

The global telematics market is expected to grow an estimated one-third every year between 2016 and 2022, according to a new study by consulting firm P&S Market Research. The study, "Global Telematics Market Size, Share, Development, Growth and Demand Forecast to 2022", projects the telematics market will grow from a reported $26 million in 2015 to $140 million in six years at a compounded annual growth rate of nearly 29%. A key trend in P&S’ study is the increasing use of telematics in the auto insurance industry, expected to grow at a CAGR of 24% through 2022.