Press release
Usage Based Insurance Market is Set To Fly High in Years to Come: Allstate Insurance, Liberty Mutual, Nationwide
Usage Based Insurance Market
According to HTF Market Intelligence, the Global Usage Based Insurance market to witness a CAGR of 25.1% during forecast period of 2023-2028. The market is segmented by United States Usage Based Insurance Market Breakdown by Application (OBD-ll, Smartphone, Embedded System, Black Box, Others) by Type (Passenger Vehicle, Commercial Vehicle) by Technology (OBD-II, Smartphone, Embedded System, Black Box, Other) and by Geography (West, South, Midwest, Southwest, Northeast). The Usage Based Insurance market size is estimated to increase by USD 47.2 Billion at a CAGR of 25.1% from 2023 to 2028. The report includes historic market data from 2017 to 2022E. Currently, market value is pegged at USD 19.6 Billion.
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Definition:
Usage-Based Insurance (UBI) is a type of auto insurance policy that uses telematics technology to track and analyze a driver's behavior, such as their speed, acceleration, braking, and distance traveled. This data is then used to calculate the driver's insurance premiums based on their actual usage patterns, rather than relying on general demographic and statistical information. UBI policies are also commonly referred to as Pay-As-You-Drive (PAYD) or Pay-How-You-Drive (PHYD) policies, as they offer a more personalized approach to auto insurance pricing. The UBI market has been growing rapidly in recent years, driven by advances in telematics technology and a growing demand for more affordable and flexible auto insurance options.
Market Trends:
Trend of Try-Before-You-Buy (TBYB) Insurance Model
Market Drivers:
Significant Growth in the Automotive Industry
Market Opportunities:
Rising Penetration of Smartphones Integrated With Vehicle Connectivity Systems
The titled segments and sub-section of the market are illuminated below:
The Study Explore the Product Types of Usage Based Insurance Market: Passenger Vehicle, Commercial Vehicle
Key Applications/end-users of Usage Based Insurance Market: OBD-ll, Smartphone, Embedded System, Black Box, Others
Book Latest Edition of Global Usage Based Insurance Market Study @ https://www.htfmarketintelligence.com/buy-now?format=1&report=2052
With this report you will learn:
• Who the leading players are in Usage Based Insurance Market?
• What you should look for in a Usage Based Insurance
• What trends are driving the Market
• About the changing market behaviour over time with strategic view point to examine competition
Also included in the study are profiles of 15 Usage Based Insurance vendors, pricing charts, financial outlook, swot analysis, products specification &comparisons matrix with recommended steps for evaluating and determining latest product/service offering.
List of players profiled in this report: Allstate Insurance, Progressive Corporation, State Farm, Liberty Mutual, Nationwide, Verizon, Travellers, Vodafone, Octo Telematics, AXA, Sierra Wireless, TomTom, Allianz, Intellimec
Who should get most benefit from this report insights?
• Anyone who are directly or indirectly involved in value chain cycle of this industry and needs to be up to speed on the key players and major trends in the market for Usage Based Insurance
• Marketers and agencies doing their due diligence in selecting a Usage Based Insurance for large and enterprise level organizations
• Analysts and vendors looking for current intelligence about this dynamic marketplace.
• Competition who would like to benchmark and correlate themselves with market position and standings in current scenario.
Make an enquiry to understand outline of study and further possible customization in offering https://www.htfmarketintelligence.com/enquiry-before-buy/united-states-usage-based-insurance-market
Quick Snapshot and Extracts from TOC of Latest Edition
Overview of Usage Based Insurance Market
Usage Based Insurance Size (Sales Volume) Comparison by Type (2023-2028)
Usage Based Insurance Size (Consumption) and Market Share Comparison by Application (2023-2028)
Usage Based Insurance Size (Value) Comparison by Region (2023-2028)
Usage Based Insurance Sales, Revenue and Growth Rate (2023-2028)
Usage Based Insurance Competitive Situation and Current Scenario Analysis
Strategic proposal for estimating sizing of core business segments
Players/Suppliers High Performance Pigments Manufacturing Base Distribution, Sales Area, Product Type
Analyse competitors, including all important parameters of Usage Based Insurance
Usage Based Insurance Manufacturing Cost Analysis
Latest innovative headway and supply chain pattern mapping of leading and merging industry players
Get Detailed TOC and Overview of Report @ https://www.htfmarketintelligence.com/report/united-states-usage-based-insurance-market
Contact Us:
Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Phone: +1 4342990043/ +1 4343220091
sales@htfmarketintelligence.com
About Us:
HTF Market Intelligence is a leading market research company providing end-to-end syndicated and custom market reports, consulting services, and insightful information across the globe. HTF MI integrates History, Trends, and Forecasts to identify the highest value opportunities, cope with the most critical business challenges and transform the businesses. Analysts at HTF MI focuses on comprehending the unique needs of each client to deliver insights that are most suited to his particular requirements.
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