Car Insurance Aggregators market to hit $5b in 2024

It is also forecasted to see a CAGR of 12.2% through 2028.

The car insurance aggregators market is projected to increase from $4.19b in 2023 to $4.87b in 2024, with a compound annual growth rate (CAGR) of 16.3%, according to TBRC Business Research.

Thanks to rising vehicle ownership, greater internet access, heightened awareness of insurance benefits, and increased disposable income alongside urbanisation trends. 

In 2023, North America led the car insurance aggregator market, whilst Asia Pacific is expected to be the fastest-growing region in the forecast period. 

The market is projected to reach $7.72b by 2028, expanding at a CAGR of 12.2%. This forecasted growth is attributed to factors like rising electric vehicle sales, increased use of telematics, enhanced customer experiences, smart city initiatives, and government incentives for insurance.

The anticipated rise in car sales is expected to further drive the car insurance aggregator market. 

Contributing factors to increased car sales include economic growth, technological advancements, attractive financing options, and government support.