Electric Vehicle UBI Market - Global Industry Analysis, Share, Growth, Regional Outlook And Forecasts, 2021-2027

The new study made on Electric Vehicle UBI market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2027. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics.

Factors such as lower insurance premium compared to regular insurance, government regulations on telematics, high adoption of connected car services, and growing trends towards electric vehicles during the forecast period are expected to drive the global electric vehicle usage-based insurance (UBI) market

The European Union has mandated e-assistance systems in case of an accident. The eCall system, mandatory for all new EU vehicles since March 2019, speeds up emergency-response times by 50% to 60%. In Russia a similar system for new cars was implemented at the end of 2017. Numerous countries such as China, Germany, Singapore, and South Africa, have voluntary systems that provide UBI incentives.

COVID-19 Impact:

The industrial report mentions about the influence of the ongoing COVID-19 pandemic. The outbreak has caused disturbances in several industries and has hammered the logistics, resulting in delayed deliveries and cancellation of product demand. The Electric Vehicle UBI report proficiently explains about the resulting factors and concerns of manufacturers. Researchers have also well-explained about how the producers and providers will tackle with the ongoing epidemic and the key strategies to be adopted post pandemic for turning their businesses back to normal.

Regional Insights:

The Electric Vehicle UBI market is segmented as North America, South America, Europe, Asia Pacific, and Middle East and Africa. Researchers have thoroughly studied about the historical market. With extensive research, experts have offered details on the current and the forecast demand made by these regions. The Electric Vehicle UBI report also includes highlights on the prevailing product demanded by end users and end customers for better understanding of product demand by producers. This will help the producers and the marketing executives to plan their production quantity and plan effective marketing strategies to more buyers. Businesses can hence, increase their product portfolio and expand their global presence. Electric Vehicle UBI market research report further offers information on the unexplored areas in these regions to help the producers to plan promotional strategies and create demand for their new and updated products. This will again help the manufacturers to increase their customers and emerge as leaders in the near future.

Major Players Covered in this Report

The updated market research report on Electric Vehicle UBI market allows the buyers and manufacturers to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

• Company Overview
• Company Market Share/Positioning Analysis
• Product Offerings
• Financial Performance
• Recent Initiatives
• Key Strategies Adopted by Players
• Vendor Landscape
• List of Suppliers
• List of Buyers

Significant Market Participants Operational in the Electric Vehicle UBI Market are:

• Allianz
• Allstate Insurance Company
• Amica Mutual Insurance Company
• Assicurazioni Generali S.P.A.
• Cambridge Mobile Telematics
• Insure the Box Limited
• Liberty Mutual Insurance Company
• Mapfre
• Metromile Inc.
• Modus Group, LLC
• Nationwide Mutual Insurance Company
• NTUC Income Insurance Co-operative Limited
• Octo Group S.P.A
• Progressive Casualty Insurance Company
• Sierra Wireless
• State Farm Mutual Automobile Insurance Company
• The Floow
• Trak Global Group
• Unipolsai Assicurazioni S.P.A
• Verizon
• Webfleet Solutions
• Zubie, Inc

Market Segmentation:

The report is divided into major categories comprising product, application, regions and others. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Every segment is studied thoroughly in order to offer a better picture to the buyers and stakeholders to benefit from. Information like highest prevailing product, highly demanded product by the application segment and end users are rightly mentioned in the Electric Vehicle UBI report.

Global Electric Vehicle UBI Market, by Vehicle Type

• Passenger Vehicle
• Light Commercial Vehicles
• Heavy Commercial Vehicles

Global Electric Vehicle UBI Market, by Electric Vehicle Type

• Battery Electric Vehicle (BEV)
• Plug-in Hybrid Vehicle (PHEV)
• Fuel-cell Electric Vehicle (FCEV)

Global Electric Vehicle UBI Market, by Package Type

• Pay-As-You-Drive (PAYD)
• Pay-How-You-Drive (PHYD)
• Manage-How-You-Drive (MHYD)

Global Electric Vehicle UBI Market, by Technology

• OBD-II
• Smartphone
• Black Box
• Embedded
• Others

Global Electric Vehicle UBI Market, by Vehicle Age

• New Vehicle
• Used Vehicle

Global Electric Vehicle UBI Market, by Device Type

• Bring Your Own Device (BYOD)
• Company Offered

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Manufacturers

The report includes comprehensive company profiling of leading and emerging companies competing in the global Electric Vehicle UBI market. It provides a detailed list of players operating at a global level. The players have been listed according to the type of products they offer in the global Electric Vehicle UBI market and other factors. As part of the company profiling, the analysts authoring the report has provided the market entry year of each player considered for the research study. The report also offers extensive price, volume sales, and revenue analysis by the manufacturer at the global level for the period 2016-2021.

In this study, the years considered to estimate the market size of Electric Vehicle UBI are as follows:

• History Year: 2016-2019
• Base Year: 2020
• Estimated Year: 2021
• Forecast Year 2021 to 2027

The Queries answered by Electric Vehicle UBI Market Research Report include:

• What are the key producers, equipment suppliers, raw material suppliers, end users, distributors and traders in the Electric Vehicle UBI Market?
• What are the crucial factors impacting the Electric Vehicle UBI Market Growth?
• What are production processes, major problems or obstacles, and solutions to tone down the development risk?
• What is the contribution made by regional manufacturers to the overall market?
• What are the major market segment, influential trends, market potential, and key challenges that the market is witnessing?

Research Methodology

In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.

Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, National government documents, statistical databases, and market reports.

Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.

OBJECTIVES OF THE STUDY

• To analyze and forecast the Electric Vehicle UBI market, in terms of value and volume
• To provide information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
• To define, segment, and project the size of the global Electric Vehicle UBI market on the product type, and end-use industry
• To project the size of the market, with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America, with their key countries
• To strategically analyze micromarkets with respect to individual growth trends, growth prospects, and their contribution to the total market
• To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
• To strategically profile key players and comprehensively analyze their core competencies
• To track and analyze research & development (R&D) and competitive developments such as joint ventures, mergers & acquisitions, and new product developments in the Electric Vehicle UBI market