Usage-Based Insurance Market forecast to 2027: Anticipated to Garner Revenue of US$ 84.7 Bn at a CAGR of 27.7% from 2020-2027 | UnipolSai Assicurazioni S.p.A, Progressive Casualty Insurance Company, Allstate Insurance Company

Usage-Based Insurance Market is valued at approximately USD 15.3 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 27.7 % over the forecast period 2021-2027.

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The global Usage-Based Insurance Market report is one of the most helpful resources for business leaders seeking guidance on transforming their companies. This transformation depends on these opportunities to gain insights. This report also provides an estimate of market size and revenue forecast in US dollars. Research into Usage-Based Insurance Market trends is also beneficial to understanding future trends. Furthermore, the study will help companies considering entering the global Usage-Based Insurance Market to make efficient business decisions, which will provide momentum for their companies and businesses as a whole.

There is a comprehensive analysis of the factors affecting the Usage-Based Insurance Market in this report. In essence, they determine the direction of the market by identifying trends, restraints, and drivers. The report also examines restraints in detail, contrasting them with drivers and highlighting their potential in strategic planning. The expanding market offers numerous opportunities for deriving lucrative business opportunities despite its rapid growth. Taking these factors into account is essential in different strategies for capturing lucrative opportunities. The study also included an expert's opinion to provide a deeper understanding.

Covid-19 Impact on the Global Usage-Based Insurance Market

• Coronavirus (Covid-19) and its impact on Usage-Based Insurance Market appear in market reports.

• In response to the Covid-19 outbreak in December 2019, the virus has spread in a number of countries around the world, which has prompted the WHO to declare a public health emergency. Coronavirus has already begun to wreak havoc on the global market and the industry will be severely affected.

• The effects of this crisis have been many, including travel bans and quarantines, flight cancellations, indoor event restrictions, restaurant, and business closures, emergency declarations in many countries, falling business confidence, stock market volatility, escalating panic among residents, and an uncertain future.

Regional Analysis of the Usage-Based Insurance Market

The report covers the following regions: North America, Asia Pacific, Europe, Middle East, and Africa, and South America. Additionally, the study includes country-specific analyses of 25+ leading countries, such as the US, Germany, UK, Japan, China, India, UAE, South Korea, South Africa, and Brazil. This segmentation provides regional and country-level information about the market, highlighting the market dynamics by various segments described in the report.

Key Players in the Usage-Based Insurance Market

This study analyzes several prominent competitors in the Usage-Based Insurance Market are:

UnipolSai Assicurazioni S.p.A
Progressive Casualty Insurance Company
Allstate Insurance Company
State Farm Automobile Mutual Insurance Company
Liberty Mutual Insurance Company
Mapfre S.A.
Nationwide Mutual Insurance Company
Progressive Corporation
Insurethebox
AXA

Market Segment Analysis of the Usage-Based Insurance Market

The global Usage-Based Insurance Market segmentation focuses on:

By Package Type:
Pay-As-You-Drive (PAYD)
Pay-How-You-Drive (PHYD)
Manage-How-You-Drive (MHYD)

By Technology:
OBD-II
Smartphone
Black Box
Embedded
Other technologies

By Vehicle Type:
Light-duty Vehicle (LDV)
Heavy-duty Vehicle (HDV)

By Vehicle Age:
New Vehicle
Old Vehicle

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