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Usage-Based Insurance Market Industry Analysis, Size, Share, Trends, Growth And Forecast 2022 - 2031
Usage-Based Insurance Market
https://www.thebusinessresearchcompany.com/global-market-reports
The global usage-based insurance market size reached a value of nearly $28,845.1 million in 2021, having grown at a compound annual growth rate (CAGR) of 13.6% since 2016. The global usage-based insurance market size is expected to grow from $28,845.1 million in 2021 to $110,130.1 million in 2026 at a rate of 30.7%. The global usage-based insurance market size is then expected to grow at a CAGR of 20.7% from 2026 and reach $281,966.0 million in 2031.
The growing global automotive industry is expected to be the key driver of the usage-based insurance market. Usage-based insurance policies are basically motor insurances. They offer lower insurance premiums, as compared to other automotive insurance.
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The usage-based insurance market is segmented -
•By Vehicle Type: Light-Duty Vehicle (LDV), Heavy-Duty Vehicle (HDV)
•By Technology: On-Board Diagnostic (OBD)-II-Based UBI Programs, Smartphone-Based UBI Programs, Black-Box-Based UBI Programs, Other Technologies
•By Package Type: Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD), Manage-How-You-Drive (MHYD)
Major competitors in the usage-based insurance market include Progressive Corporation, Allstate Corporation, UNIPOLSAI ASSICURAZIONI S.P.A, Allianz SE, Liberty Mutual Insurance
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The usage-based insurance (UBI) market consists of sales of usage-based insurance services by entities (organizations, sole traders, and partnerships) that provide automobile insurance policy to calculate premium based on the usage of the vehicle or driving behavior by using monitoring devices. UBI is powered by telematics technology, which is accessible in vehicles via a plug-in device or pre-installed in the car system. UBI can also be accessed via mobile apps to deliver insurers with a variety of data, including how far vehicle is driven, how it is driven, and where it is driven.
The Table Of Content For The Usage-Based Insurance Market Include:
1. Usage-Based Insurance Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
……
20. Key Mergers and Acquisitions In The Market
21. Market Opportunities And Strategies
22. Usage-Based Insurance Market, Conclusions And Recommendations
23. Appendix
The Business Research Company's "Global Usage-based insurance Opportunities And Strategies Market Report - Forecast To 2030" is the most comprehensive report available in market, providing data and statistics from over 60 geographies analyzed in more than 2500 market segments. The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country. Additionally, it evaluates the market's historic and projected growth and identifies significant trends and strategies that can be used to outperform the competitors in the sector.
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