Berg Insight, the world’s leading M2M/IoT market research provider, today released new findings about the connected wearables market.
Shipments of connected wearables reached 96,5-million in 2016, up from 75,1-million devices in the previous year, according to Berg Insight.
Growing at a compound annual growth rate (CAGR) of 22,2%, total shipments of smartwatches, smart glasses, fitness & activity trackers, people monitoring & safety devices, smart clothing and medical devices as well as other wearable devices are forecasted to reach 262,5-million units in 2021.
Bluetooth will remain the primary connectivity option in the coming years. A total of 26,8-million of the wearables sold in 2021 are forecasted to incorporate embedded cellular connectivity, mainly in the smartwatch and people monitoring & safety categories.
According to a new research report from the IoT analyst firm Berg Insight, the number of insurance telematics policies in force on the European market reached 12,9-million in Q4-2020. Growing at a compound annual growth rate (CAGR) of 15,2%, this number is expected to reach 26,2-million by 2025.
In North America, the number of insurance telematics policies in force is expected to grow at a CAGR of 17,8% from 15-million in Q4-2020 to reach 34-million in 2025.
The US, Italy, the UK and Canada are still the largest markets in terms of insurance telematics policies.
The insurance telematics value chain spans multiple industries including a large ecosystem of companies extending far beyond the insurance industry players.
“Automotive OEMs such as General Motors, Daimler, Toyota, PSA Group and Tesla are taking an increasingly active role in the insurance market through subsidiaries active as insurance agents or even underwriters,” says Caspar Jansson, IoT analyst at Berg Insight.
Players such as LexisNexis Risk Solutions, Verisk and CCC Information Services partner with OEMs and normalise connected car data in telematics exchanges enabling insurers to utilise telematics data from a vast range of sources as long as the policyholders agree to share their driving data.