Market Share of North America Insurance Telematics Industry
The North American insurance telematics market is fragmented, with major players like Octo Telematics SpA, IMERTIK Global Inc., AXA SA, The Floow Limited, and LexisNexis Risks Solutions (RELX Group). Market participants employ partnerships and acquisitions to improve their product offerings and secure a lasting competitive edge.
- In October 2023 - OCTO Telematics announced a partnership with Flexcar, the smart alternative to car ownership, focused on adding OCTO’s connected vehicle capabilities to Flexcar’s fleet across the United States.
- In October 2023 - PowerFleet Inc. intends to merge with MiX Telematics Ltd, a fleet management tech firm based in South Africa, creating a single company with a combined subscriber base of some 1.7 million users. The deal is expected to close in the first quarter of 2024, and the combined business will be branded as PowerFleet. Its primary listing will be on Nasdaq, and its headquarters will be in Woodcliff Lake, New Jersey.
North America Insurance Telematics Market Leaders
Octo Telematics SpA
IMERTIK Global Inc.
AXA SA
The Floow Limited
LexisNexis Risks Solutions (RELX Group)
*Disclaimer: Major Players sorted in no particular order
