An analysis of the motor insurance market in Germany from 2013 to 2023 reveals a steady decline in value, starting from 96 units in 2013 to 82 units in 2023. There were notable drops in 2016 (-4.26%) and 2020 (-17.95%), followed by a recovery in 2021 (+11.8%). Over the last five years (2019-2023), the CAGR stood at -1.4%. Forecasts indicate a continuing decline at a 5-year CAGR of -1.25%, leading to 75.41 units by 2028. Analyzing year-on-year data, variation saw both negative and positive changes, but overall, there's a downward trend.
Future trends to watch for include the impact of technological advancements like autonomous driving, the shift towards electric vehicles, and evolving consumer preferences that may influence motor insurance demand. Regulatory changes and increasing competition from digital insurance providers are also key factors that could reshape the market landscape.
