Press release
Global Market For Usage Insurance Market Will Surge At A CAGR Of Over 17% From 2022 To 2031
The latest market analysis published by Fact.MR estimates that the overall usage insurance market will reach US$ 150 Bn by 2031, expanding at a whopping CAGR exceeding 17% across the forecast period. Increased demand for paying optimum insurance rates based on actual usage is spurring sales to a very large extent.According to the historical performance of the market, usage insurance uptake registered an impressive 10% CAGR to be valued at US$ 30 Bn from as of 2020. Prospects took a temporary dip in the first half of 2020, as the COVID-19 pandemic halted automotive manufacturing and distribution operations. Fortunately, the ever surging EV popularity sustained demand.
Request Free Sample: https://www.factmr.com/connectus/sample?flag=S&rep_id=5352
Key Takeaways from the Market Study
Global usage insurance market to surge 5x until 2031 as compared to 2021
Demand for pay-as-you-drive (PAYD) to account for 55% of global market revenue
Smartphone-based usage insurance likely to expand at a CAGR of 9% through 2031
By vehicle, commercial usage insurance to garner significant momentum, growing at 7% CAGR
U.S to capture half of the global usage insurance demand across the decade
Europe likely to register an expansion rate of 10% in value CAGR terms through 2031
Asia to account for a growth rate of a staggering 15% from 2021 to 2031
Competitive Landscape
Strategic collaborations enable insurance industries to increase revenue and market share. New products and technologies will enable the growth of usage-based insurance in the insurance industry.
To accelerate expansion across Europe, insurance tech company bolttech acquired i-surance, a next-generation B2B2C digital insurance platform. Boltech now covers 26 countries across North America, Asia, and Europe following the acquisition of i-surance - including Switzerland, Belgium, Germany, France, Liechtenstein, Monaco, Luxembourg, Netherlands, Portugal, Poland, Spain, and the United Kingdom.
Bolttech intends to expand its insurance exchange services in Europe to provide both partners and customers with more choices.
Connect To Expert: https://www.factmr.com/connectus/sample?flag=AE&rep_id=5352
Key Companies Profiled
Insure the Box Limited
Allstate Insurance Company
State Farm
Uniqa Insurance Group AG
Groupama
Generali Group
UnipolSai Assicurazioni S.p.A
Liberty Mutual Group
Allianz SE
Progressive Corporation
Key Segments Covered
Policy Type
Pay-how-you-drive(PHYD)
Pay-as-you-drive(PAYD)
Manage-how-you-drive(MHYD)
Product
Black Box
OBD Dongle
Smartphone
Others
Vehicle
Passenger Vehicle
Commercial Vehicle
Buy Now: https://www.factmr.com/checkout/5352
Key Data Points Covered in the Report:-
Elaborated scenario of the parent market
Transformations in the market dynamics
Detailed segmentation of the target market
Historical, current and forecast market size based on value and volume
Latest industry developments and trends
Competition landscape
Strategies adopted by the market players and product developments made
Potential and niche segments, along with their regional analysis
Unbiased analysis on performance of the market
Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness
Why Opt For Fact.MR?
Various analysis methods to deliver precise market information.
Digital technologies to facilitate clients with updated market solutions.
Multi-disciplinary approach to provide accurate insights of different industries.
Data collection from extensive primary and secondary research.
Round-the-clock availability to serve clients across the world.
For More Insights of Fact.MR Trending Report: https://www.newswire.co.kr/newsRead.php?no=943298
US Sales Office :
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com
Blog URL: https://blog.factmr.com/
Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
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. We have offices in US and Dublin, whereas our global headquarter is in Dubai. 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 analysed. 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 Global Market For Usage Insurance Market Will Surge At A CAGR Of Over 17% From 2022 To 2031 here
News-ID: 2683784 • Views: …
More Releases from Fact.MR
EuropeanLead Acid Battery Market Forecast 2025-2035: Trends and Growth Insights
The European lead-acid battery market is poised for continued relevance and moderate growth between 2025 and 2035. Despite the rising popularity of lithium-ion technologies, lead-acid batteries remain a critical component of Europe's energy ecosystem due to their cost-efficiency, recyclability, and established infrastructure.
Market Size & Growth Forecast
The lead-acid battery market in Europe is forecast to expand steadily, driven by demand in automotive, industrial backup, and energy storage applications.
The market is projected…
European Sweet Corn Seeds Market Outlook 2025-2035: Key Developments and Future …
The European sweet corn seed market is entering a strong growth phase between 2025 and 2035, driven by evolving consumer trends, sustainable farming, and continued innovation in seed breeding.
Market Size & Growth Forecast
The sweet corn seed market in Europe is forecast to grow at a compound annual growth rate (CAGR) of approximately 6.4% between 2025 and 2035. With sales steadily increasing, the market is projected to nearly double in value…
European Baking Mixes Market Outlook 2025-2035: Key Developments and Future Scop …
The European baking mixes market is on course for strong, data-backed growth over the next decade (2025-2035), driven by evolving consumer lifestyles, demand for clean-label convenience, and rising home‐baking trends.
Market Size & Growth Forecast
The European bakery mixes market is expected to expand significantly, reflecting a growing demand in both retail and commercial segments. The region is projected to see steady value growth driven by rising adoption of premixes in homes,…
European Yeast Derivatives Market Outlook 2025-2035: Key Developments and Future …
The European yeast derivatives market is poised for robust, data-backed growth over the next decade (2025-2035), as demand surges across food & beverages, animal nutrition, pharmaceuticals, and the clean-label sector. Market dynamics are being reshaped by sustainability trends, plant-based diets, and advances in biotechnology.
Market Size & Growth Forecast
The European yeast derivatives market is expected to grow steadily through 2035, reflecting increasing demand in key industries. The yeast ingredients market in…
More Releases for CAGR
[CAGR of 6.7%] Nanocoatings Market Size, Industry Share, CAGR, Regional Forecast …
The global Nanocoatings Market generated $10.7 billion in 2020, and is projected to reach $20.1 billion by 2030, growing at a CAGR of 6.7% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Download sample PDF @ https://www.alliedmarketresearch.com/request-sample/2064
According to the report published by Allied Market Research,…
[CAGR of 5.3%] Pigments Market Size, Industry Share, CAGR, Regional Forecast, 20 …
A recent report by Allied Market Research provides a detailed analysis of the pigments market, highlighting its robust growth. The industry was valued at $27.2 billion in 2022 and is projected to surge to $45.4 billion by 2032, exhibiting an impressive CAGR of 5.3% from 2023 to 2032.
This research report identifies the growth drivers behind the market's expansion and delves into the market dynamics using advanced analytical frameworks…
Enzymes Market Expansion CAGR of 4.9% CAGR Anticipated 2025-2034
The Enzymes Market report is an in-depth examination of the global Enzymes Market's general consumption structure, development trends, sales techniques, and top nations' sales. The research looks at well-known providers in the global Enzymes Market industry, as well as market segmentation, competition, and the macroeconomic climate. A complete Enzymes Market analysis takes into account a number of aspects, including a country's population and business cycles, as well as market-specific microeconomic…
Waterproofing Membranes Market is Projected Grow at CAGR of 8% CAGR by 2033
The waterproofing membranes market is anticipated to witness a Compound Annual Growth Rate (CAGR) of 8.0% over the forecast period. By 2023, the estimated market value for waterproofing membranes is substantial, reaching US$ 31.5 billion.
These waterproofing materials comprise thin, impermeable membranes designed to collaborate with asphalt, providing a protective shield for the structural integrity of buildings. The asphalt component in these membranes acts as a safeguard, preserving the underlying membrane…
Electric Bed Market CAGR, Size, Share Grow USD 2,063 Million by 2030 CAGR 13.70%
Global electric bed market size is expected to be worth roughly USD 2,063 million by 2030, growing at a CAGR of more than 13.7% during the projected timeframe of 2022-2030, according to Ameco Research
A significant portion of the population over the age of 60, who often have reduced immunity levels and are more susceptible to neurological disorders, cardiac issues, tumors, and spinal cord compression, is anticipated to have a substantial…
Pediatric Radiology Market Size will Grow at CAGR 7.7% CAGR during 2017-2026
Pediatric Radiology Market:Overview
The pediatric radiology market is likely to register robust growth in the near future. Chronic illnesses among children including neurological disorders such as ADHD are on the rise. According to the US labor bureau, the demand for pediatrician is expected to grow by 24% on average by 2020. This is the highest average growth among all professionals in the United States.
Despite challenges such as training for new…
