Global Usage-Based Insurance Market Size, Share, Forecast Report, 2020-2027

Warning: DOMDocument::loadHTML(): htmlParseEntityRef: no name in Entity, line: 4 in /home/multiwpmr/public_html/report-details.php on line 448

Warning: DOMDocument::loadHTML(): htmlParseEntityRef: no name in Entity, line: 25 in /home/multiwpmr/public_html/report-details.php on line 448
The report provides rational insights along with historical and forecast data to aid in better understanding of the Global Usage-Based Insurance Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of the Usage-Based Insurance market. This study also provides a detailed overview of the opportunities along with the current trends observed in the target market.

Estimated at USD 24.0 billion in 2019, the usage-based insurance market size is projected to reach USD 125.7 billion by 2027, growing at a CAGR of 23.0% during the forecast period. Factors such as lower insurance premium compared to regular insurance, government regulations on telematics, high adoption of connected car services, and growing on-road vehicles are expected to drive the demand for usage-based insurance market.

The report covers major players operating in the market along with the key strategies implemented to achieve a competitive edge against a majority of the vendors which provides a competitive outlook of the industry. The competitive landscape further includes details about different players and their position on a global and a local level is also explained in detail in this compiled study. These insights were prepared through mapping business strategies and products that offer high revenue generation capacities. Key players of the global Usage-Based Insurance market are included as given below:

The usage-based insurance market is led by globally established players such as UnipolSai Assicurazioni S.p.A (Italy), Progressive Casualty Insurance Company (US), Allstate Insurance Company (US), State Farm Automobile Mutual Insurance Company (US), and Liberty Mutual Insurance Company (US). These companies have strong distribution networks at a global level and offer an extensive product range. They have adopted strategies of new product development, acquisition, and contracts & partnerships to sustain their market position.

The global Usage-Based Insurance market has been segmented as below:

Based on Package Type, the market has been segmented as follows:

Pay-As-You-Drive (PAYD)

Pay-How-You-Drive (PHYD)

Manage-How-You-Drive (MHYD)

Based on Technology, the market has been segmented as follows:

OBD-II

Smartphone

Black Box

Embedded

Other technologies

Based on Vehicle Type, the market has been segmented as follows:

Light-duty Vehicle (LDV)

Heavy-duty Vehicle (HDV)

Based on Vehicle Age, the market has been segmented as follows:

New Vehicle

On-Road Vehicle

Based on Device Offering, the market has been segmented as follows:

Bring Your Own Device (BYOD)

Company Provided

Based on Electric & Hybrid Vehicle, the market has been segmented as follows:

Battery Electric Vehicle (BEV)

Hybrid Electric Vehicle (HEV)

Plug-in Hybrid Vehicle (PHEV)

Based on region, the market has been segmented as follows:

Asia Oceania

China

India

Japan

South Korea

Rest of Asia Oceania

North America

US

Canada

Mexico

Europe

France

Germany

Italy

Spain

UK

Russia

Rest of Europe

Rest of the World

Brazil

UAE

Rest of RoW

Reasons to Purchase this Report:

Estimates Usage-Based Insurance development trends with SWOT analysis

� Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players

� Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market's expansion

� Market dynamics scenario, along with growth opportunities for players in the years to come

� Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the mentioned forecast period

� Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects