North America Automotive Usage-Based Insurance (UBI) Market Will Hit Big Revenues In Future | Metromile, Octo Telematics S.p.A, Vodafone Automotive S.P.A.

Automotive UBI market in North America is expected to grow from US$ 7.24 Bn in 2018 to US$ 44.45 Bn by the year 2027 with a CAGR of 22.4% from the year 2019 to 2027.

The increase in Acceptance of Mobility-as-a-Service (MaaS) is fueling the growth of the Automotive Usage-Based Insurance market. Moreover, the increase in collaborations among telematics companies and insurance companies is anticipated to boost Automotive UBI market growth in the forecast period. Mobility-as-a-Service aims to provide consumer an end-to-end transportation with the use of different modes of transportation, thereby, making substantial use of the existing transportation infrastructure in an area. The increasing traction of MaaS among the consumers is leading the third party service providers to procure increased count of vehicles to enhance the customer experience.

This factor is also increasing the number of service providers across the globe; some of the prominent mobility-as-a-service providers are Uber, Lyft, Zipcar, Car2go, Beeline Singapore, UbiGo AB, and Smile Mobility among others. The increasing procurement of vehicles by these car service providers is further influencing the telematics technology providers (TTP), telematics service providers (TSP), and auto insurers to develop advanced insurance solutions. Moreover, several telematics providers and insurance companies are partnering with each other to introduce advanced and robust insurance solutions. This is expected to ramp up the market growth of telematics insurance or automotive UBI.

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Top Leading Companies and Type

• Allstate Insurance Company
• Allianz SE
• Metromile, Inc.
• Octo Telematics S.p.A
• Vodafone Automotive S.P.A.
• AXA SA
• Liberty Mutual Insurance Company
• TomTom Telematics BV
• Sierra Wireless, Inc.
• Unipolsai Assicurazioni S.p.A.

Our expert team is consistently working on updated data and information of key player’s related business processes which values the market. For future strategies and predictions, we provide special section regarding covid-19 situation.

The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of life science industries.

Trade barriers are further restraining the demand- supply outlook. As government of different regions have already announced total lockdown and temporarily shutdown of industries, the overall production process being adversely affected; thus, hinder the overall North America Automotive Usage-Based Insurance (UBI) Market globally. This report on ‘North America Automotive Usage-Based Insurance (UBI) Market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The report also showcase market trends and forecast to 2027, factoring the impact of Covid -19 Situation.

North America Automotive Usage-Based Insurance (UBI) Market Lucrative Regional Markets

Like any other research material, the report has covered key geographical regions such as Europe, Japan, United States, India, Southeast Asia and Europe. Researchers have given their opinion or insights of value, product sales, and industry share besides availability opportunities to expand in those regions. As far as the sub-regions, North America, Canada, Medico, Australia, Asia-Pacific, India, South Korea, China, Singapore, Indonesia, Japan, Rest of Asia-Pacific, Germany, United Kingdom, France, Spain, Italy, Rest of Europe, Russia, Central & South America, Middle East & Africa are included.

The objective of the researchers is to find out the sales, value, and status of the North America Automotive Usage-Based Insurance (UBI) Market at the international levels. While the status covers the years of 2020 – 2027, the forecast is for the period 2020 – 2027 that will enable market players to not only plan but also execute strategies based on the market needs.

The study wanted to focus on key manufacturers, competitive landscape, and SWOT analysis for the North America Automotive Usage-Based Insurance (UBI) Market. Apart from looking into the geographical regions, the report concentrated on key trends and segments that are either driving or preventing the growth of the industry. Researchers have also focused on individual growth trends besides their contribution to the overall market.

NORTH AMERICA AUTOMOTIVE UBI MARKET SEGMENTATION

By Technology Fitted
• Smartphones
• Black Box
• Dongles
• Others

By Policy Type
• Pay-As-You-Drive (PAYD)
• Pay-How-You-Drive (PHYD)

Major queries related Global North America Automotive Usage-Based Insurance (UBI) Market with covid-19 effect resolves in the report:
• How market players are performing in this covid-19 event?
• How the pricing of essential raw material and related market affects North America Automotive Usage-Based Insurance (UBI) Market.
• Is covid-19 pandemic already affected on projected region or what will be the maximum impact of covid-19 in region?
• What will be the CAGR growth of the North America Automotive Usage-Based Insurance (UBI) Market during the forecast period?
• In 2027 what will be the estimated value of North America Automotive Usage-Based Insurance (UBI) Market?

Note: Access insightful study with over 150+ pages, list of tables & figures, profiling 10+ companies.

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