Press release
Usage Based Insurance Market to witness growth opportunities worth USD 135.16 Bn by 2029 at a CAGR of 27.3 percent
Usage Based Insurance Market
Usage Based Insurance Market Report Scope and Research Methodology
The report includes an analysis of the impact of the COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. The report has covered the current short-term and long-term impact on the market, which will help decision-makers prepare the outline for short-term and long-term strategies for companies by region.
The report also presents a comprehensive analysis of the Global Usage Based Insurance Market, including all stakeholders of the industry. It covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants by region. PORTER, SVOR, and PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report.
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Usage Based Insurance Market Dynamics
UBI is a way for auto insurance companies to set premiums based on a driver's safe driving habits. The usage-based insurance market is driven by the increase in lower accident and vehicle theft possibilities and detection of stolen vehicles through a telematics device installed in the vehicle. However, the high installation cost of telematics and its lengthy process may hamper the growth of the market.
The UBI market is segmented by type, technology, vehicle, and geography. In terms of type, the Manage-How-You-Drive (MHYD) segment is expected to grow faster as it provides fast-moving advances in technology and has higher flexibility and freedom for consumers. In the technology segment, the black box is expected to grow faster as the increase in the accounting number of total market revenue and customer preference for its accurate and timely data collection capabilities will boost demand in the market.
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Usage Based Insurance Market Regional Insights
A rise in the production of vehicles and their safety is creating revenue opportunities in the region. Growing awareness among consumers and technological advancement are boosting the UBI market in Europe. Italy currently dominates the segment by one-third usage-based insurance market, generating the maximum revenue in the Europe region.
Usage Based Insurance Market Segmentation
By Type:
• Pay-As-You-Drive (PAYD)
• Pay-How-You-Drive (PHYD)
• Manage-How-You-Drive (MHYD)
• Distance-based-Insurance (DBI)
By Technology:
• OBD-II
• Smartphone
• Hybrid
• Black Box
• Metal Forming Market for Automotive
By Vehicle Type:
• Passenger Vehicle
• Commercial Vehicle
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Usage Based Insurance Market Key Competitors include:
• Octo Telematics S.p.A.
• Intelligent Mechatronic Systems
• Allianz SE
• Insure the Box Ltd
• Progressive Corporation
• Allstate Corporation
• Desjardins Insurance
• Generali Group
• Mapfre S.A.
• Metromile
• Aviva plc
• Watchstone Group
• Sierra Wireless
• Mechatronic Systems Inc.
• TrueMotion
• Cambridge Mobile Telematics
• Modus Group, LLC
• Inseego Corp
• The Floow Limited
• Vodafone
• TomTom International
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Table of Content for Usage Based Insurance Market
Global Usage Based Insurance Market: Research Methodology
Global Usage Based Insurance Market: Executive Summary
Market Overview and Definitions
Introduction to Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
Global Usage Based Insurance Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
Global Usage Based Insurance Market Segmentation
Global Market, by Type (2021-2029)
Global Market, by Technology (2021-2029)
Global Market, by Vehicle Type (2021-2029)
Regional Usage Based Insurance Market (2021-2029)
Regional Market, by Type (2021-2029)
Regional Market, by Technology (2021-2029)
Regional Market, by Vehicle Type (2021-2029)
Regional Market, by Country (2021-2029)
Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
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Key Offerings:
Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Type, Technology, and Vehicle Type
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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