Exploring the Growth Trajectory of the Usage-Based Insurance Market and its Future Prospects | at a CAGR of 25.1% from 2021 to 202

Usage-Based Insurance Market by Policy Type [Pay-As-You-Drive Insurance (PAYD), Pay-How-You-Drive Insurance (PHYD), and Manage-How-You-Drive Insurance (MHYD)], Technology (OBD-II-Based UBI Programs, Smartphone-Based UBI Programs, Hybrid-Based UBI Programs, and Black-Box-Based UBI Programs), Vehicle Age (New Vehicles and Used Vehicles), Vehicle Type (Light-Duty Vehicle (LDV) and Heavy-Duty Vehicle (HDV)): Global Opportunity Analysis and Industry Forecast, 2020-2027

The global usage-based insurance market size was valued at $28.7 billion in 2019, and is projected to reach $149.2 billion by 2027, growing at a CAGR of 25.1% from 2020 to 2027.

Report Sample PDF
https://www.alliedmarketresearch.com/request-sample/1742

The key players profiled in the usage-based insurance market analysis are Allianz SE, Allstate Corporation, Aviva, AXA, Insurethebox, Liberty Mutual Insurance, Mapfre S.A., Nationwide Mutual Insurance Company, Progressive Corporation and UNIPOLSAI ASSICURAZIONI S.P.A. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

Segment review
The global usage-based insurance market is segmented into type, technology, vehicle age, vehicle type and region.

On the basis of technology, the black-box segment held the largest share in 2019, contributing to more than three-fifths of the market. However, the smartphone segment is projected to portray the highest CAGR of 30.3% during the forecast period.

Based on vehicle age, the new vehicles segment held the lion's share in 2019, accounting for nearly three-fifths of the market. However, the used vehicle segment is anticipated to manifest the highest CAGR of 25.9% from 2020 to 2027.

On the basis of vehicle type, the light-duty vehicle (LDV) segment held the largest share in 2019, contributing to around three-fourths of the market. However, the heavy-duty vehicle (HDV) segment is expected to register the highest CAGR of 26.3% during the forecast period.

Inquire Before Buying
https://www.alliedmarketresearch.com/purchase-enquiry/1742

Key Benefits For Stakeholders

The study provides an in-depth analysis of global usage-based insurance market forecast along with the current & future trends to elucidate the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on global usage-based insurance market is provided in the report.
Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the market from 2020 to 2027 is provided to determine the market potential.

Usage-Based Insurance Market Report Highlights

Aspects Details

By POLICY TYPE
PAY AS YOU DRIVE
PAY HOW YOU DRIVE
MANAGE HOW YOU DRIVE

By TECHNOLOGY
OBD II
SMARTPHONE
HYBRID
BLACK BOX

By VEHICLE AGE
NEW VEHICLES
USED VEHICLES
MANAGE HOW YOU DRIVE

By VEHICLE TYPE
LIGHT DUTY VEHICLE
HEAVY DUTY VEHICLE

By Region
North America (U.S., Canada, Mexico)
Europe (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)

Request Customization
https://www.alliedmarketresearch.com/request-for-customization/1742

Key Market Players ALLIANZ SE, ALLSTATE CORPORATION, AVIVA, AXA, INSURETHEBOX, LIBERTY MUTUAL INSURANCE, MAPFRE SA, NATIONWIDE MUTUAL INSURANCE COMPANY, PROGRESSIVE CORPORATION, UNIPOLSAI ASSICURAZIONI SPA

More Reports:
Factoring Services Market : https://www.alliedmarketresearch.com/factoring-services-market-A17187

Virtual Cards Market : https://www.alliedmarketresearch.com/virtual-cards-market-A17176

Mortgage Lending Market : https://www.alliedmarketresearch.com/mortgage-lending-market-A17282

Financial Consulting Software Market : https://www.alliedmarketresearch.com/financial-consulting-software-market-A17212

Accounting & Budgeting Software Market : https://www.alliedmarketresearch.com/accounting-&-budgeting-software-market-A17180

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.