Press release
How will Changing Trends Impact the Usage Based Insurance Market? Explores Fact.MR Report
Usage based insurance models are getting increasingly popular especially since the model provides its clients with a scope to incur lesser expenses on their insurance policies.Click here to Get Complete Synopsis of the Report – https://www.factmr.com/report/5352/usage-insurance-market
The model utilizes vehicle communication systems to monitor driving behavior and mileage, based on which insurance premiums are calculated. Against this backdrop, Fact.MR sees the rising sales of connected vehicles to be a chief driver of the usage based insurance market.
In a recent study, Fact.MR has forecast to market to surge exponentially between 2020 and 2030. The adoption of the telematics technology for accurate feedback on driving behavior will emerge as a chief growth driver. Coupled with this, demand for more customizable vehicle insurance services will bode well for the overall market.
For detailed insights on enhancing your product footprint, request for a sample here – https://www.factmr.com/connectus/sample?flag=S&rep_id=5352
Fact.MR offers an all-inclusive study on the market, highlighting the chief growth driver and key restraints. It also uncovers the hidden prospects for market players. Some of the key takeaways from the report are:
• Adoption of novel technologies are expected to unfold attractive business prospects for the usage brand insurance market. Taking cue from customer preference, insurers are expected to launch various value added services and offer premium discounts to customers, which will bode well for the overall market
• Regionally, North America will continue to lead the global market, trailed by Europe. The large number of vehicles plying on road of North America and willingness of vehicle owners to spend on more rewarding insurance models will aid growth in the region
For critical insights on this market, request for methodology here - https://www.factmr.com/connectus/sample?flag=RM&rep_id=5352
• Among products available, black box will continue leading the market. The device offers greater accuracy and long term connectivity, which is aiding the expansion of the segment
• On the basis of policy type, the pay-as-you-drive model will emerge dominant. However, over the forecast period the growth witnessed in the pay-how-you-drive model too is likely to be impressive
Advancements in Automotive Sector Supporting Growth
The evolution of insurance available for automotive usage corresponds directly to the advancements witnessed in the automotive sector. It is also directly proportional to sale of connected vehicles. The rising focus on remotely monitoring driving behavior by car insurance providers is expected to bode well for the market.
For in-depth competitive analysis, buy now – https://www.factmr.com/checkout/5352
The demand for usage based insurance is expected to surge in the coming years in response to the rising use of advanced onboard communication devices in vehicles. This will also help in improving real-time connectivity between vehicle and the insurance providers, enabling the latter to accurately diagnose breakdown issues.
With insurance providers launching various lucrative models to gain competitive advantage, the market for usage based insurance is likely to gain significant traction in the coming years.
Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2018/03/01/1409113/0/en/Global-Tractors-Market-to-Reflect-High-Volume-Growth-of-Hydraulic-Tractors-during-2017-2026-Fact-MR-Forecast.html
Who is winning?
Companies operating in the market are focusing on strategic collaborations to gain competitive advantage. Besides this, they are also likely to customize their models as per customer requirement to stay relevant. Fact.MR’s report on the market profiles some of the leading companies operating in the usage based insurance market and studies key strategies they have adopted over the years.
Some of the companies profiled in the report are Uniposai, State Farm, Insure the Box, AllState Insurance Company, Generalli, Uniqa, Groupama, and Liberty Mutual.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
E: sales@factmr.com
Website: https://www.factmr.com
Content Source: https://www.factmr.com/media-release/1727/global-usage-based-insurance-market
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release How will Changing Trends Impact the Usage Based Insurance Market? Explores Fact.MR Report here
News-ID: 2302931 • Views: …
More Releases from Fact.MR
Plasma Fractionation Market Projected to Reach US$ 65 Billion by 2032, With 7.3% …
The plasma fractionation market is projected to be valued US$ 32 billion in 2022. Moreover, growth is anticipated to pick up speed at a 7.3% CAGR over the assessment period of 2022-2032 and reach US$ 65 billion. The primary driver of the market's growth is the aging of the global population, which makes people more vulnerable to rare illnesses that call for the usage of blood derivatives.
Furthermore, it is anticipated…
Chemical Pulp Market Predicted to Garner US$ 19.5 Billion by 2033, At CAGR 7.4% …
According to the most recent data from market research and competitive intelligence provider Fact.MR, the global chemical pulp market is projected to grow at a compound annual growth rate (CAGR) of 7.4% between 2023 and 2033, reaching US$ 19.5 billion by the end of 2033.
Large tanks called digesters are used to combine chemicals and wood chips to create chemical pulp. Lignin, which helps hold cellulose fibers together without seriously harming…
Hemodialysis Market to Grow at 4.5% CAGR, Crossing US$ 149.92 Billion by 2033 | …
The hemodialysis market is expected to reach US$ 149.92 billion by 2033, from its estimated US$ 96.54 billion in 2023, according to a recent industry analysis by Fact.MR, a supplier of competitive intelligence and market research.
Dialysis is a process that removes waste products from the blood, like creatinine and urea, which are created when the kidneys don't work properly. For people with chronic renal disorders, dialysis is required. Hemodialysis is…
Agricultural Film Market is forecasted to reach US$ 21 billion with 5.9% CAGR by …
Fact.MR, a market research and competitive intelligence service, states that historically, the use of Agricultural Films grew at a 3.5% CAGR from 2016 to 2020, with the United States, China, India, and Japan holding a sizable portion of the global market. by 2021, the greenhouse film industry is expected to have grown to a valuation of over US$ 10 billion, largely due to price increases in agricultural films.
For More Insights…
More Releases for Unit
Glycol Dehydration Unit Market Glycol Dehydration Unit Market 2028
Persistence Market Research delivers key insights on the global glycol dehydration unit market, in its report titled, 'Glycol Dehydration Unit Market: Global Industry Analysis 2013-2017 and Forecast 2018-2028'. Over the forecast years, the global glycol dehydration unit market is expected to show a positive outlook.
The market value is expected to increase at a healthy pace over the forecast period. Based on the glycol type segment, the triethylene glycol segment is…
Biodiesel Processing Unit
While reserves of petroleum are decreasing every passing day, energy consumption is increasing at 6.5% per annum. And for solving this issue many countries are implementing new policies for minimizing the usage of fossil fuels and increase the use of alternative sources like solar power and Biodiesel. Biodiesel is a diesel fuel substitute made from a variety of oils, fats, and greases which can become a cheaper alternative to fossil…
Jackfruit Processing Unit
The fruit processing sector has some undoubtedly potential Business Ideas, and Jackfruits processing is highly recommended because jackfruits are highly perishable tropical fruits, which helps in improving the immunity, replenishes the energy, cardiovascular health, regulates Blood Pressure, Digestion, treats the skin diseases, prevent/control asthma and many more awesome advantages of jackfruit consumption.
Rising demand for processed fruit product for secondary preparations, rising income, and resultant increased spending on food items is…
Pomegranate Processing unit
India is the second largest producer of Pomegranates in the world after Iran, still contributes only 5% pomegranate related international trades. India produces the finest edible Pomegranates, which are available almost throughout the year, which provides a tremendous potential for export of Pomegranate and its products from India.
Processing of the Pomegranates becomes essential in order to increase the utilization and reduce the wastage of the fruit. Pomegranates being rich in…
Coconut Processing Unit
Coconut is an important fruit in the Indian economy as the country is listed among the top Coconut producing countries in the world. The contribution of Coconut is about ₹27900 crore to India’s Gross Domestic Product (GDP).
Today's improved economic stability, spending power, nutritional requirements, and awareness are pushing consumers to shift their preferences.
Currently, Coconut water, Coconut milk/cream and Virgin Coconut Oil (VCO) are expected to be main growth drivers for…
Telematics Control Unit
Publisher's Telematics Control Unit (TCU) market research report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability.
The industry report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.
The report includes the forecasts, Analysis and discussion of important industry trends, market size, market share estimates and profiles of…
