Asia Pacific Automotive Usage-Based Insurance (UBI) Market 2020 Recovering From Covid-19 Outbreak | By Allianz SE, Assicurazioni Generali S.p.A., AXA SA, Liberty Mutual Insurance Company

Automotive UBI market in the Asia Pacific is expected to grow from US$ 1.71 Bn in 2018 to US$ 13.57 Bn by the year 2027 with a CAGR of 25.9% from the year 2019 to 2027.

The Business Market Insights provides you regional research analysis on “Asia Pacific Automotive Usage-Based Insurance (UBI) Market” and forecast to 2027. The research report provides deep insights into the regional market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of the Asia Pacific Automotive Usage-Based Insurance (UBI) market during the forecast period, i.e., 2020–2027.

Browse Full Report URL: https://www.businessmarketinsights.com/reports/asia-pacific-automotive-usage-based-insurance-ubi-market?utm_source=OpenPR&utm_medium=10466

Major Key players covered in this report:

• Allianz SE
• Assicurazioni Generali S.p.A.
• AXA SA
• Liberty Mutual Insurance Company
• MS&AD Insurance Group Holdings, Inc.
• Octo Telematics S.p.A
• Sierra Wireless, Inc.
• TomTom Telematics BV
• Unipolsai Assicurazioni S.p.A.
• Vodafone Automotive S.P.A

The increasing demand for mobility-as-a-service (MaaS) and various type of insurance premium policies are boosting the growth of the automotive UBI market. Moreover, the strategic partnerships among insurance companies and telematics companies are anticipated to propel automotive UBI market growth in the forecast period. In the last few years, the consumer behavior towards intercity and intracity transit has been transformed to a newer level. A significant percentage of travelers across the globe are no more willing to drive their own vehicles with an objective to avoid traffic. This has given rise to various other transit practices such as car sharing and ride-hailing in developed countries and developing countries. These practices are known as mobility as a service as the consumer avails the vehicle and the driver from a third party service provider.

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The growth of the Asia Pacific Automotive Usage-Based Insurance (UBI) market is attributed to the increasing demand for tumor modelling and biobanking, increasing adoption of personalized drugs and growing focus on developing alternatives for animal testing models. However, issues related to the incorporation of organoids into existing workflows. leading to restraining the growth of the market.

ASIA PACIFIC 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)

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The report profiles the key players in the industry, along with a detailed analysis of their individual positions against the regional landscape. The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Asia Pacific Automotive Usage-Based Insurance (UBI) market. The researcher provides an extensive analysis of the Asia Pacific Automotive Usage-Based Insurance (UBI) market size, share, trends, overall earnings, gross revenue, and profit margin to accurately draw a forecast and provide expert insights to investors to keep them updated with the trends in the market.

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This release was published on openPR.