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Usage-based Insurance is a type of vehicle insurance whereby the costs are dependent upon type of vehicle used, measured against time, distance, behavior and place.
According to our (Global Info Research) latest study, the global Automotive Usage-based Insurance market size was valued at USD 155.1 million in 2022 and is forecast to a readjusted size of USD 231.2 million by 2029 with a CAGR of 5.9% during review period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
The Americas region is projected to be the largest market for usage-based insurance during the forecast period. The Americas has the highest adoption rate of usage-based insurance as compared to other regions owing to higher regular insurance premiums and high sales of premium D segment and light-duty vehicles. Apart from this, vehicles with telematics and connected car services are acting as a driving factor for the usage-based insurance market.
This report is a detailed and comprehensive analysis for global Automotive Usage-based Insurance market. Both quantitative and qualitative analyses are presented by company, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2023, are provided.
Key Features:
Global Automotive Usage-based Insurance market size and forecasts, in consumption value ($ Million), 2018-2029
Global Automotive Usage-based Insurance market size and forecasts by region and country, in consumption value ($ Million), 2018-2029
Global Automotive Usage-based Insurance market size and forecasts, by Type and by Application, in consumption value ($ Million), 2018-2029
Global Automotive Usage-based Insurance market shares of main players, in revenue ($ Million), 2018-2023
The Primary Objectives in This Report Are:
To determine the size of the total market opportunity of global and key countries
To assess the growth potential for Automotive Usage-based Insurance
To forecast future growth in each product and end-use market
To assess competitive factors affecting the marketplace
This report profiles key players in the global Automotive Usage-based Insurance market based on the following parameters - company overview, production, value, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Progressive, Allstate, Octo Telematics, MetroMile and Allianz, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, COVID-19 and Russia-Ukraine War Influence.
Market Segmentation
Automotive Usage-based Insurance market is split by Type and by Application. For the period 2018-2029, the growth among segments provide accurate calculations and forecasts for consumption value by Type and by Application. This analysis can help you expand your business by targeting qualified niche markets.
Market segment by Type
- Pay-As-You-Drive(PAYD)
- Pay-How-You-Drive(PHYD)
- Manage-How-You-Drive(MHYD)
Market segment by Application
- Light-Duty Vehicle(LDV)
- Heavy-Duty Vehicle(HDV)
Market segment by players, this report covers
- Progressive
- Allstate
- Octo Telematics
- MetroMile
- Allianz
- AXA
- Liberty Mutual
- Verizon
- Movitrack Viasat
- Nationwide
- Esurance
- Safeco
- Travellers
- Liberty Mutual Insurance
- AIOI
- QBE
- Modus Group
- Intelligent Mechatronic Systems
- Inseego
- Truemotion
- Cambridge Mobile Telematics
Market segment by regions, regional analysis covers
- North America (United States, Canada, and Mexico)
- Europe (Germany, France, UK, Russia, Italy, and Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Australia and Rest of Asia-Pacific)
- South America (Brazil, Argentina and Rest of South America)
- Middle East & Africa (Turkey, Saudi Arabia, UAE, Rest of Middle East & Africa)
The content of the study subjects, includes a total of 13 chapters:
Chapter 1, to describe Automotive Usage-based Insurance product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top players of Automotive Usage-based Insurance, with revenue, gross margin and global market share of Automotive Usage-based Insurance from 2018 to 2023.
Chapter 3, the Automotive Usage-based Insurance competitive situation, revenue and global market share of top players are analyzed emphatically by landscape contrast.
Chapter 4 and 5, to segment the market size by Type and application, with consumption value and growth rate by Type, application, from 2018 to 2029.
Chapter 6, 7, 8, 9, and 10, to break the market size data at the country level, with revenue and market share for key countries in the world, from 2018 to 2023.and Automotive Usage-based Insurance market forecast, by regions, type and application, with consumption value, from 2024 to 2029.
Chapter 11, market dynamics, drivers, restraints, trends, Porters Five Forces analysis, and Influence of COVID-19 and Russia-Ukraine War
Chapter 12, the key raw materials and key suppliers, and industry chain of Automotive Usage-based Insurance.
Chapter 13, to describe Automotive Usage-based Insurance research findings and conclusion.