Press release
Usage-Based Insurance Market Size Reach US$ 123.4 Billion by 2027 | CAGR of 24.47%
Usage-based insurance refers to a specialized automobile insurance policy that is widely available in pay-how-you-drive (PHYD) and pay-per-mile (PPM) formats. It calculates the premium of the vehicle on the basis of the usage of the vehicle and the consumer driving behavior that can be analyzed via the readings obtained from the telematics device installed in the automobile for monitoring the speed, time and distance covered.
Request for a free sample copy of this report: https://www.imarcgroup.com/usage-based-insurance-market/requestsample
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The global market is majorly driven by considerable growth in the automotive sector. With the increasing adoption of remote diagnostics to monitor consumer driving patterns, there has been a significant rise in the demand for usage-based insurance across the globe. The market is further driven by the widespread integration of advanced telematics-based platforms in light-duty vehicles (LDV). Their deployment assists in replacing an additional black-box in vehicles for recording relevant data, which is creating a positive outlook for the market. Some of the other factors contributing to the market growth include the rising concerns for driver safety and the continual reductions in the premium rates of usage-based insurance.
Breakup by Type:
Pay-As-You-Drive (PAYD)
Pay-How-You-Drive (PHYD)
Manage-How-You-Drive (MHYD)
Others
Breakup by Technology:
OBD II
Black box
Smartphones
Others
Breakup by Vehicle Type:
Light-duty Vehicle (LDV)
Heavy-duty Vehicle (HDV)
Breakup by Vehicle Age:
New Vehicles
Used Vehicles
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
Aioi Nissay Dowa Insurance UK Ltd
Allianz SE
Allstate Insurance Company
American International Group Inc.
Assicurazioni Generali SpA
AXA
Liberty Mutual Insurance Company
Mapfre SA
Progressive Casualty Insurance Company
State Farm Automobile Mutual Insurance Company
TomTom International BV.
UnipolSai Assicurazioni SpA (Unipol Gruppo SpA).
Ask Analyst for Customization and Browse full report with TOC & List of Figure: https://www.imarcgroup.com/usage-based-insurance-market
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Related Reports
Real-Time Bidding Market Report: https://www.imarcgroup.com/real-time-bidding-market
Glycerol Market Report: https://www.imarcgroup.com/glycerol-market
Silicone Elastomers Market Report: https://www.imarcgroup.com/silicone-elastomers-market
Oscilloscope Market Report: https://www.imarcgroup.com/oscilloscope-market
Electric Boat And Ship Market Report: https://www.imarcgroup.com/global-electric-boat-ship-market
Feminine Hygiene Products Market Report: https://www.imarcgroup.com/feminine-hygiene-products-market
Luxury Footwear Market Report: https://www.imarcgroup.com/luxury-footwear-market
Durable Medical Equipment DME Market Report: https://www.imarcgroup.com/durable-medical-equipment-market
Ambulance Services Market Report: https://www.imarcgroup.com/ambulance-services-market
Contact US
IMARC Group
30 N Gould St Ste R
Sheridan, WY 82801 USA - Wyoming
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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 Usage-Based Insurance Market Size Reach US$ 123.4 Billion by 2027 | CAGR of 24.47% here
News-ID: 2749912 • Views: …
More Releases from IMARC Group
Glass Fiber Reinforced Polymer (GFRP) Manufacturing Plant Setup 2025: Machinery …
Setting up a glass fiber reinforced polymer (GFRP) manufacturing facility necessitates a detailed market analysis alongside granular insights into various operational aspects, including unit processes, raw material procurement, utility provisions, infrastructure setup, machinery and technology specifications, workforce planning, logistics, and financial considerations.
IMARC Group's report titled "Glass Fiber Reinforced Polymer (GFRP) Manufacturing Plant Project Report 2025: Industry Trends, Plant Setup, Machinery, Raw Materials, Investment Opportunities, Cost and Revenue" offers a comprehensive…
Plastic Manufacturing Plant 2025: Project Report, Business Plan, and Cost Analys …
Setting up a plastic manufacturing facility necessitates a detailed market analysis alongside granular insights into various operational aspects, including unit processes, raw material procurement, utility provisions, infrastructure setup, machinery and technology specifications, workforce planning, logistics, and financial considerations.
IMARC Group's report titled "Plastic Manufacturing Plant Project Report 2025: Industry Trends, Plant Setup, Machinery, Raw Materials, Investment Opportunities, Cost and Revenue" offers a comprehensive guide for establishing a plastic manufacturing plant cost,…
Chicken Processing Plant Cost 2025: Setup Details, Capital Investments, and Busi …
Setting up a chicken processing facility necessitates a detailed market analysis alongside granular insights into various operational aspects, including unit processes, raw material procurement, utility provisions, infrastructure setup, machinery and technology specifications, workforce planning, logistics, and financial considerations.
IMARC Group's report titled "Chicken Processing Plant Project Report 2025: Industry Trends, Plant Setup, Machinery, Raw Materials, Investment Opportunities, Cost and Revenue" offers a comprehensive guide for establishing a chicken processing plant, covering…
Solar Cables Manufacturing Plant Project Report 2025: Business Plan, and Setup R …
Setting up a solar cables manufacturing facility necessitates a detailed market analysis alongside granular insights into various operational aspects, including unit processes, raw material procurement, utility provisions, infrastructure setup, machinery and technology specifications, workforce planning, logistics, and financial considerations.
IMARC Group's report titled "Solar Cables Manufacturing Plant Project Report 2025: Industry Trends, Plant Setup, Machinery, Raw Materials, Investment Opportunities, Cost and Revenue" offers a comprehensive guide for establishing a solar cables…
More Releases for Insurance
Renters Insurance Market Dazzling Worldwide with Major Giants Travelers Insuranc …
According to HTF Market Intelligence, the Global Renters Insurance market to witness a CAGR of xx% during the forecast period (2024-2030). The Latest research study released by HTF MI "Renters Insurance Market with 120+ pages of analysis on business Strategy taken up by key and emerging industry players and delivers know-how of the current market development, landscape, technologies, drivers, opportunities, market viewpoint, and status. Understanding the segments helps in identifying…
Renters Insurance Market to See Competition Rise | Travelers Insurance, Geico In …
HTF MI introduces new research on Renters Insurance covering the micro level of analysis by competitors and key business segments (2023-2029). The Renters Insurance explores a comprehensive study of various segments like opportunities, size, development, innovation, sales, and overall growth of major players. The research is carried out on primary and secondary statistics sources and it consists of both qualitative and quantitative detailing. Some of the major key players profiled…
Insurance Road Assistance Services Market Is Booming Worldwide | Travelers Insur …
Insurance Road Assistance Services Market: The extensive research on Insurance Road Assistance Services Market, by Qurate Research is a clear representation on all the essential factors that are expected to drive the market considerably. Thorough study on Insurance Road Assistance Services Market helps the buyers of the report, customers, the stakeholders, business owners, and stockholders to understand the market in detail. The updated research report comprises key information on the…
Agriculture Crop Insurance Market Type (MPCI Insurance, Hail Insurance, Livestoc …
Agriculture Crop Insurance market worldwide Agriculture is an important contributor to any economy. The extensive use of crops for direct human consumption and industrial processes has resulted in increasing the pressure on the existing supply demand gap. Increasing need for food security is expected to augment the demand for insurance policies. The two major risks in agricultural sector are price risk, caused due to volatility in prices in the market…
Household Insurance Market By Key Players: Discount Insurance Home Insurance, On …
Household Insurance Industry Overview
The Household Insurance market research study relies upon a combination of primary as well as secondary research. It throws light on the key factors concerned with generating and limiting Household Insurance market growth. In addition, the current mergers and acquisition by key players in the market have been described at length. Additionally, the historical information and current growth of the market have been given in the scope of the research report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Household Insurance market…
Life Insurance Market in Kuwait By Warba Insurance Company, Al Ahleia Insurance …
GlobalData’s 'Life Insurance in Kuwait, Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Kuwaiti life insurance segment, and a comparison of the Kuwaiti insurance industry with its regional counterparts.
It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2012-2016) and forecast period (2016-2021).
The report also…
