Press release
Automotive Usage-Based Insurance Market May See a Big Move | Major Giants ::: Octo Telematics, Metromile, Cambridge Mobile Telematics
Automotive Usage-Based Insurance
Some of the companies listed in the research study are Allstate, Progressive, State Farm, AXA, Zurich, Liberty Mutual, Octo Telematics, Metromile, Cambridge Mobile Telematics, others. etc.
The Automotive Usage-Based Insurance Market have seen a market size of USD 40 billion in 2023 and estimated to reach USD 80 billion by 2030, growth at a CAGR of 9 %. Pre Covid, back in 2019 it was ranging ~ USD 25 billion and since then market have recovered completely and showing robust growth.
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Definition:
Usage-Based Insurance (UBI) for vehicles calculates premiums based on driving behavior, such as mileage, speed, and time, offering discounts for safer driving.
Market Trends:
Integration of AI and IoT, growth in vehicle telematics, and data-driven insurance products.
Market Drivers:
Increasing adoption of telematics, demand for cost-effective insurance, and government regulations for road safety.
Market Challenges:
Data privacy concerns, technical challenges in telematics, and user adoption.
Fastest-Growing Region:
Asia-Pacific
Dominating Region:
North America, Europe
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What to Expect from this Report On Automotive Usage-Based Insurance Market:
1. A comprehensive summary of several area distributions and the summary types of popular products in the Automotive Usage-Based Insurance Market.
2. You can fix up the growing databases for your industry when you have info on the cost of the production, cost of the products, and cost of the production for the next years.
3. Thorough Evaluation of the break-in for new companies who want to enter the Automotive Usage-Based Insurance Market.
4. Exactly how do the most important companies and mid-level companies make income within the Market?
5. Complete research on the overall development within the Automotive Usage-Based Insurance Market that helps you select the product launch and overhaul growths.
Focus on segments and sub-sections of the Market are illuminated below:
Based on Product Types of Automotive Usage-Based Insurance Market: Pay-as-You-Drive, Pay-How-You-Drive, Pay-as-You-Go
The Study Explores the Key Applications/End-Users of Automotive Usage-Based Insurance Market: Personal Vehicles, Commercial Fleets
Regional Analysis for Automotive Usage-Based Insurance Market:
• APAC (Japan, China, South Korea, Australia, India, and the Rest of APAC; the Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, UAE, South Africa)
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Resource and Consumption - In extension with sales, this segment studies Resources and consumption for the Automotive Usage-Based Insurance Market. Import-export data is also provided by region if applicable.
Free Customization based on client requirements on Immediate purchase:
1- Free country-level breakdown of any 5 countries of your interest.
2- Competitive breakdown of segment revenue by market players.
3 - Additional company profiles and Qualitative analysis subject to feasibility check.
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Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like APAC, LATAM, North America, Europe, or Southeast Asia.
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Nidhi Bhavsar (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Phone: +15075562445
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About Author:
HTF Market Report is a wholly owned brand of HTF Market Intelligence Consulting Private Limited. HTF Market Report global research and market intelligence consulting organization is uniquely positioned to not only identify growth opportunities but also empower and inspire you to create visionary growth strategies for futures, enabled by our extraordinary depth and breadth of thought leadership, research, tools, events and experience that assist you for making goals into a reality. Our understanding of the interplay between industry convergence, Mega Trends, technologies, and market trends provides our clients with new business models and expansion opportunities. We are focused on identifying the " Accurate Forecast" in every industry, we cover so our clients can reap the benefits of being early market entrants and accomplish their " Goals & Objectives"
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