Automotive Usage Based Insurance Market Outlook to 2025 - Allianz, Intelligent Mechatronic Systems, Watchstone Group, Octo Telematics, and Sierra Wireless, Hubio, Baseline Telematics, Masternaut, TomTom Telematics, and Progressive
An innovative insurance plan for any automotive owner wherein costs of the insurance premium varies with different parameters that include vehicle usage, distance covered using the vehicle, driving behavior of the driver, and the speed at which the driver drives the vehicle. The usage based insurance system for the automotive industry is supposed to be a highly interactive system that interacts constantly with the vehicle and human behavior. Such an innovative usage based insurance system enables the vehicle owner to save considerable money on the premiums. Within this market, the Pay As You Drive (PAYD) and Manage How You Drive (MHYD) are anticipated to become the most preferred types for the calculation of premiums. Many factors are anticipated to augur in good stead for the growth of automotive usage based insurance market.
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The key players influencing the market are:
2. Intelligent Mechatronic Systems
3. Watchstone Group
4. Octo Telematics
5. Sierra Wireless
7. Baseline Telematics
9. TomTom Telematics
10. Progressive Corporation
High advancements in the vehicle telematics technology coupled with increasing usage of sophisticated electronic components integrated by the Automotive OEMs is touted to be one of the major factors driving the automotive usage based insurance market. The concerns regarding the connectivity of technology in areas where the internet does not work well is one of the factors that would hinder the growth of automotive usage based insurance market. Also, advancements in the internet infrastructures of the telecommunication service providers would provide better opportunities for the market players to invest in the business model and enable a prosperous development in the automotive usage based insurance market.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global automotive usage based insurance Market based on technology, and service type. It also provides market size and forecast till 2025 for overall automotive usage based insurance market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 16 countries globally along with current trend and opportunities prevailing in the region for automotive usage based insurance market.
Besides this, the report analyzes factors affecting market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors affecting the Automotive Usage Based Insurance Market in these regions.
Key automotive usage based insurance market players influencing the market are profiled in the study along with their SWOT analysis and market strategies. The report also focuses on leading industry players with information such as company profiles, products and services offered, financial information for the last 3 years, the key developments in the past five years.
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Reason To Buy
Highlights key business priorities in order to assist companies to realign their business strategies
- Highlights Automotive Usage Based Insurance Market hereby allowing organizations to gain revenues by focusing majorly on select products
- The key findings and recommendations highlight crucial progressive industry trends in the Automotive Usage Based Insurance Market , thereby allowing players across the value chain to develop effective long term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
- Examine the current and future impact of the market and PEST analysis for regions such as North America, Europe, APAC, Middle-East & Africa and South America
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.
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