What's driving the Usage Based Insurance Market Growth? Prominent Players Liberty Mutual Insurance, TomTom, Allianz, Verizon, Mapfre, Zf Group, Faurecia, Valeo,

As name suggested usage based insurance is calculated by how corresponding vehicle is driven. In other words, usage based insurance is a kind of auto-insurance which totally depends on vehicle used, measured against time, distance, behaviour, place and others. These all usages can be measure using telematics technology; the technology is available in from of mobile application, pre-installed in the car's network or it can be installed in USB port of the vehicle. Usage based insurance and telematics technology has wide range of benefits such as reverse gear indication, tracking of speeding, seat belt use, harsh braking, acceleration control, driver coaching by voice and others. These all benefits have potential to reduce road accidents.Global usage based insurance market is register a healthy CAGR of 19.1% in the forecast period of 2019 to 2026.

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Competitive Analysis: Global Usage Based Insurance Market

Some of the prominent participants operating in this market are Intelligent Mechatronic Systems Inc., TrueMotion, Cambridge Mobile Telematics, Insure The Box Limited, Progressive Casualty Insurance Company, Modus Group, LLC, Inseego Corp, Metromile Inc., The Floow Limited, Vodafone, Allstate Insurance Company, Octo Group, , TomTom International, Allianz, AXA Equitable Life Insurance Company, , Liberty Mutual Insurance, Verizon, Sierra Wireless, , Mapfre, Movitrack Viasat, Inc., ASSICURAZIONI GENERALI S.P.A., and UNIPOLSAI ASSICURAZIONI S.P.A.

Segmentation: Global Usage Based Insurance Market

Global usage-based insurance market is segmented into six notable segments which are package type, vehicle type, device offering, technology, vehicle age, and electric & hybrid vehicle.

o On the basis of package type, the market is segmented into pay-as-you-drive (PAYD), pay-how-you-drive (PHYD), and manage-how-you-drive (MHYD). In 2019, the pay-as-you-drive (PAYD), market is growing at the CAGR of 19.3% in the forecast period of 2019-2026.
o On the basis of vehicle type, the market is segmented into light-duty vehicle (LDV) and heavy-duty vehicles (HDV). In 2018, light-duty vehicle (LDV) market is growing with the highest CAGR of 19.6% in the forecast period of 2019 to 2026.
o On the basis of device offering, the market is segmented into company provided and bring your own device (BYOD). The company provided market is growing at the CAGR of 18.5% in the forecast period of 2019-2026.
o On the basis of technology, the market is segmented into OBD-II, smartphone, embedded system, black box and others. In 2018, embedded system market is growing with the highest CAGR of 19.7% in the forecast period of 2019 to 2026.
o On the basis of vehicle age, the market is segmented into new vehicles and on-road vehicles. In 2018, on-road vehicles market is growing with the highest CAGR of 19.5% in the forecast period of 2019 to 2026.
o On the basis of electric and hybrid vehicle, the market is segmented into hybrid electric vehicle (HEV), plug-in hybrid vehicle (PHEV) and battery electric vehicle (BEV).In 2018 Battery Electric Vehicle (BEV) market is growing with the highest CAGR of 19.8% in the forecast period of 2019 to 2026.

Recent developments:

o In September 2018, Allstate launched a product for life insurance which will pay on monthly basis rather than lump sum amount. This is consumer driven product which will help the company to cover more market share and to aware the people about life insurance.
o In October 2018, The Floow launches FlowFleet for the insurer who deals in commercial line. This helped the insurance company to better manage the risk and to provide the optimal premium price to their customer in the high premium rising market.
o In June 2018, Allstate launched pay per mile i.e. usage based insurance in New Jersey. This insurance gives more control to customer about their insurance premium and plans for using telematics services for better management in their insurance segment.
o In March 2018, Octo Telematics entered into partnership with Renault finance company to provide data analytics and services to its customer globally. This will increase the global market share of the company.

Usage Based Insurance Reports Includes the Following Deliverable

o Macro Indicator Analysis
o Usage Based Insurance Overview
o Market Dynamics
o Drivers, Restraints, Opportunities and Challenges
o Market sizing and growth analysis
o Global Usage Based Insurance forecasting to 2025
o Market Competitive Landscape
o Product Launches and Pipeline Analysis
o Value Chain Analysis
o Market Mergers, Acquisitions and Agreements
o Company Profiles

This report scope includes a holistic study of the current dynamics of the market, industry growth and restraints of the Global Usage Based Insurance. It provides the market forecast to 2025, recent developments in the market and pipeline analysis of the major players. The report also includes a review of micro and macro forecasts, new entrant strategies, and market penetration strategies with a comprehensive value chain analysis.

Table of Contents: Global Usage Based Insurance

Part 01: Executive Summary
Part 02: Scope of the Report
Part 03: Research Methodology
Part 04: Market Landscape
Part 05: Pipeline Analysis
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation
Part 09: Customer Landscape
Part 10: Regional Landscape
Part 11: Decision Framework
Part 12: Drivers and Challenges
Part 13: Market Trends
Part 14: Vendor Landscape
Part 15: Vendor Analysis
Part 16: Appendix

Table Of Contents Is Available Here https://www.databridgemarketresearch.com/toc/?dbmr=global-usage-based-insurance-market

Key Questions Answered in Usage Based Insurance Report

o What will the Global Usage Based Insurance size be in 2025 and what will the growth rate be?
o What are the key market trends?
o What is driving this market?
o What are the challenges to market growth?
o Who are the key vendors in this market space?
o What are the market opportunities and threats faced by the key vendors?

Important Features of the Global Usage Based Insurance Market Report:
What all companies are currently profiled in the report?

** List of companies mentioned may vary in the final report subject to Name Change / Merger etc.
What all regional segmentation covered? Can specific country of interest be added?
Currently, research report gives special attention and focus on following regions:
North America, Europe, Asia-Pacific etc.
** One country of specific interest can be included at no added cost. For inclusion of more regional segment quote may vary.

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