Press release
Global Usage Based Insurance Market Trends, shares and business Growth Strategies By 2026 - Key Players are Allianz, AXA, Progressive Insurance, Allstate, Desjardins, Generali, MAPFRE, Metromile, Aviva, Admiral Group Plc,Ageas Group, Aviva Canada, AXA US
Global Usage Based Insurance Market – Industry Trends and Forecast
The Usage-Based Insurance industry is largely based on the driver and the usage of his vehicle and the way he drives. The premium is calculated on these factors which induces lower insurance premium and motivates the user to drive safer. These factors are driving the market and growing the market value from an estimated value of USD 21 billion in 2017 to an estimated value of USD 87.32 billion by 2025, also registering a CAGR of 19.5%.
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Key Players/Companies: Global Usage-Based Insurance
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
Allianz, AXA, Progressive Insurance, Allstate, Allstate Canada, Desjardins, Generali, MAPFRE, Metromile, Aviva, Admiral Group Plc,Ageas Group, Octo Telematics, TomTom Telematics, Liberty Mutual Insurance, Intelligent Mechatronic Systems – IMS, Mitsui Sumitomo Insurance Co. (Europe) Ltd, Watchstone Group plc, Allianz Australia, Aviva Canada, Allianz Asia Pacific, AXA Insurance Company, AXA US, Aviva Asia, AXA Italia, AXA UK, Ageas UK, Liberty Mutual Insurance Europe Limited
Research Methodology: Global Usage Based Insurance Market
• Primary Respondents: OEMs, Manufacturers, Engineers, Industrial Professionals.
• Industry Participants: CEO’s, V.P.’s, Marketing/Product Managers, Market Intelligence Managers and, National Sales Managers
Global Usage-Based Insurance: Table of Contents
1. Executive Summary
2. Scope/opportunities of the Report
3. Research Methodology
4. Market Landscape
• Market ecosystem
• Market characteristics
• Market segmentation analysis
5. Pipeline Analysis
• Pipeline analysis
6. Market Sizing
• Market definition
• Market sizing
• Market size and forecast
7. Porter’s Five Forces Analysis
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition
8. Market Segmentation
• Segmentation
• Comparison
• Market opportunity
9. Customer Landscape
10. Regional Landscape
• Geographical segmentation
• Regional comparison
• Europe
• MEA
• APAC
• North America
• South America
• Market opportunity
11. Business Decision Framework
12. Drivers And Challenges
• Market challenges
• Market drivers
13. Market Key Trends
14. Players Landscape
• Overview
• Landscape disruption
15. Players Analysis
• Players covered
• Players classification
• Market positioning of Players
16. Appendix
• List of abbreviations
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Market Drivers and Restraints: Global Usage-Based Insurance
• Reduced Premium costs in comparison to normal automotive insurance, also increase in the vehicle sales has raised the demand for insurance of vehicles.
• Government regulations are not clear on Usage-Based Insurance, which makes the whole process complicated as no clear regulations are set for the users.
• Technology is projected to advance in the coming years and hence, Usage-Based insurance which is majorly dependent on the technological aspect is projected to register significant market growth.
• Usage-Based Insurance is dependent on the driving score. The technology used to calculate these driving scores is expected to be expensive in future; therefore, increasing the cost of the insurance will be a major restraining factor.
Market Segmentation: Global Usage-Based Insurance
Based on region, the market split into
• North America,
• Europe,
• Asia-Pacific, and
• Middle East & Africa, and
• South America
The geographical regions are further segmented into 24 major countries such as U.S. Canada, Mexico, Germany, France, U.K., Belgium, Switzerland, Belgium, Turkey, Japan, China, Singapore, Brazil, India, Russia, South Africa and many others.
U.S. is expected to dominate the market due to the rising pool of elderly population and chronic disease patient pool. Telehealth will help to U.S. healthcare model to shift from episodic model to dynamic continuous monitoring, leading to betterment of healthcare.
By Package Type
• Pay-As-You-Drive (PAYD)
• Pay-How-You-Drive (PHYD)
• Manage-How-You-Drive (MHYD)
By Electric & Hybrid Vehicles
• Hybrid Electric Vehicle (HEV)
• Plug-In Hybrid Electric Vehicle (PHEV)
• Battery Electric Vehicle
By Technology
• On-board Diagnostics-II
• Smartphone
• Embedded System
• Black Box
By Device
• Bring Your Own Device
• Company Provided
By Vehicle Age
• New Vehicles
• On-Road Vehicles
By Vehicle Type
• Light-Duty Vehicle
• Heavy-Duty Vehicle
Customization of the Report
This report can be customized to meet the client’s requirements. Please connect with our sales team (sopan.gedam@databridgemarketresearch.com), who will ensure that you get a report that suits your needs.
About Data Bridge Market Research:
Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavors to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process.
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Email: sopan.gedam@databridgemarketresearch.com
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