Press release
Global Usage-Based Insurance (UBI) Market Outlook | Pay-How-You-Drive & Pay-As-You-Go Models
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According to the WHO, road traffic crashes claim approximately 1.35 million lives each year, while an additional 20-50 million individuals suffer non-fatal injuries, many of which lead to long-term disabilities. In several countries, these crashes account for nearly 3% of their gross domestic product. Meanwhile, Usage-Based Insurance (UBI) solutions, particularly those utilizing OBD dongles, are gaining significant traction. By 2020, OBD dongles were installed in about 27 million vehicles, creating a $475 million annual market for manufacturers a figure projected to rise further, fueling market growth over the forecast period.
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The U.S. leads the market, with projections indicating over 330 million connected vehicles by 2035 through embedded, tethered, or smartphone integration. With an estimated 97% penetration rate, the U.S. is expected to maintain the highest adoption of connected vehicles during the forecast period.
Top Key Players:
Cambridge Mobile Telematics, Allianz SE, AXA, Aviva, Allstate Corporation, Insure The Box Limited, Liberty Mutual Insurance, Progressive corporation, UNIPOLSAI ASSICURAZIONI S.P.A, Nationwide Mutual Insurance Company
Growth Projection:
The Global Usage-Based Insurance Market is set to witness significant growth between 2025 and 2032. While 2024 reflects steady progress, the increasing adoption of innovative strategies by leading players is expected to accelerate growth across the projected horizon. This creates a strong landscape of opportunities for businesses looking to expand, invest, and stay competitive in a rapidly evolving market.
Research Process:
The Usage-Based Insurance Market research report by DataM Intelligence leverages both primary and secondary data sources to deliver deep insights. It explores a wide range of factors shaping the industry from government regulations, market conditions, and competitive dynamics to historical trends, technological advancements, upcoming innovations, and potential challenges. This comprehensive analysis highlights growth prospects while addressing barriers, helping businesses navigate volatility and seize new opportunities
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Market Segmentation:
By Type: (Pay-as-You-Drive (PAYD), Pay-How-You-Drive (PHYD), Manage-How-You-Drive (MHYD), Distance-Based Insurance, Others)
By Vehicle Type: (Passenger Vehicles, Commercial Vehicles)
By Technology: (OBD I-II, Smartphones, Black Box, Hybrid, Others)
By Application: (IoT Based Fleet Management, Semi-Autonomous & Autonomous Car, Artificial Intelligence and HMI in Transportation, Others)
Top Growth Regions:
⇥ North America (U.S., Canada, Mexico)
⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
⇥ South America (Colombia, Brazil, Argentina, Rest of South America)
⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Benefits of the Report:
Chapter 1: Introduces the report with an overview of coverage summarizing key market segments by region, product type, and application. It offers a clear snapshot of market size, segment-wise growth potential, and both short- and long-term industry outlook.
Chapter 2: Brings forward the most valuable market insights and reveals the game-changing emerging trends shaping the industry's future.
Chapter 3: Provides a detailed analysis of the competitive landscape among Usage-Based Insurance covering revenue shares, strategic initiatives, and the latest mergers & acquisitions.
Chapter 4: Delivers comprehensive profiles of top players, including revenue, profit margins, product lines, and company milestones.
Chapters 5 & 6: Break down revenue performance across regions and countries, offering a precise view of market sizes, opportunities, and development prospects worldwide.
Chapter 7: Examines segmentation by type, revealing the size and potential of each category guiding businesses toward untapped, high-impact areas.
Chapter 8: Focuses on applications, evaluating how different downstream markets are growing and identifying promising sectors for expansion.
Chapter 9: Maps the entire industry supply chain, detailing both upstream and downstream activities for a holistic understanding.
Chapter 10: Concludes with key findings and the most critical takeaways giving stakeholders a clear direction for future strategies.
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FAQ's
Q1: How fast is the Usage-Based Insurance Market growing?
A: The Market is on a robust growth path, expected to expand at a CAGR of 24.1% between 2025 and 2032.
Q2: Which Regions dominate the Usage-Based Insurance Market?
A: Currently, North America holds the largest share of the Usage-Based Insurance (UBI) market.
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Company Name: DataM Intelligence
Contact Person: Sai Kiran
Email: Sai.k@datamintelligence.com
Phone: +1 877 441 4866
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About Us -
DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries; catering to the key business research needs that influence the growth trajectory of our vast clientele.
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