This Global Usage Based Insurance Market report is a great source of information about the Automotive industry, important facts and figures, expert opinions, and the most recent developments across the globe. Such perfect and wide-ranging market report brings into focus primary and secondary drivers, market share, leading segments, possible sales volume, and geographical analysis. The report contains reviews about key players in the market, major collaborations, merger and acquisitions along with trending innovation and business policies. The report also gives CAGR value fluctuations during the forecast period of 2018-2025 for the market.
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Global Usage Based Insurance Market, By Package type (pay-as-you-drive (PAYD), pay-how-you-drive (PHYD), manage-how-you-drive (MHYD)), vehicle type (light-duty vehicle (LDV), heavy-duty vehicles (HDV)), Device offering (company provided, bring your own device (BYOD)), Technology (OBD-II, smartphone, embedded system, black box and others), Vehicle age (new vehicles, on-road vehicles), Electric and hybrid vehicle (hybrid electric vehicle (HEV), plug-in hybrid vehicle (PHEV), battery electric vehicle (BEV)), Geography (North America, Europe, Asia Pacific, South America, Middle East And Africa) – Industry Trends and Forecast to 2026.
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Global usage based insurance market is register a healthy CAGR of 19.1% in the forecast period of 2019 to 2026.
Competitive Analysis: Global Usage Based Insurance Market
Some of the prominent participants operating in Global Usage Based Insurance Market are Intelligent Mechatronic Systems Inc., TrueMotion, Cambridge Mobile Telematics, Insure The Box Limited, Progressive Casualty Insurance Company, Modus Group, LLC, Inseego Corp, Metromile Inc., The Floow Limited, Vodafone, Allstate Insurance Company, Octo Group, , TomTom International, Allianz, AXA Equitable Life Insurance Company, , Liberty Mutual Insurance, Verizon, Sierra Wireless, , Mapfre, Movitrack Viasat, Inc., ASSICURAZIONI GENERALI S.P.A., and UNIPOLSAI ASSICURAZIONI S.P.A.
As name suggested usage based insurance is calculated by how corresponding vehicle is driven. In other words, usage based insurance is a kind of auto-insurance which totally depends on vehicle used, measured against time, distance, behaviour, place and others. These all usages can be measure using telematics technology; the technology is available in from of mobile application, pre-installed in the car’s network or it can be installed in USB port of the vehicle. Usage based insurance and telematics technology has wide range of benefits such as reverse gear indication, tracking of speeding, seat belt use, harsh braking, acceleration control, driver coaching by voice and others. These all benefits have potential to reduce road accidents.
Segmentation: Global Usage Based Insurance Market
Global usage-based insurance market is segmented into six notable segments which are package type, vehicle type, device offering, technology, vehicle age, and electric & hybrid vehicle.
- On the basis of package type, the market is segmented into pay-as-you-drive (PAYD), pay-how-you-drive (PHYD), and manage-how-you-drive (MHYD). In 2019, the pay-as-you-drive (PAYD), market is growing at the CAGR of 19.3% in the forecast period of 2019-2026.
- On the basis of vehicle type, the market is segmented into light-duty vehicle (LDV) and heavy-duty vehicles (HDV). In 2018, light-duty vehicle (LDV) market is growing with the highest CAGR of 19.6% in the forecast period of 2019 to 2026.
- On the basis of device offering, the market is segmented into company provided and bring your own device (BYOD). The company provided market is growing at the CAGR of 18.5% in the forecast period of 2019-2026.
- On the basis of technology, the market is segmented into OBD-II, smartphone, embedded system, black box and others. In 2018, embedded system market is growing with the highest CAGR of 19.7% in the forecast period of 2019 to 2026.
- On the basis of vehicle age, the market is segmented into new vehicles and on-road vehicles. In 2018, on-road vehicles market is growing with the highest CAGR of 19.5% in the forecast period of 2019 to 2026.
- On the basis of electric and hybrid vehicle, the market is segmented into hybrid electric vehicle (HEV), plug-in hybrid vehicle (PHEV) and battery electric vehicle (BEV).In 2018 Battery Electric Vehicle (BEV) market is growing with the highest CAGR of 19.8% in the forecast period of 2019 to 2026.
- In September 2018, Allstate launched a product for life insurance which will pay on monthly basis rather than lump sum amount. This is consumer driven product which will help the company to cover more market share and to aware the people about life insurance.
- In October 2018, The Floow launches FlowFleet for the insurer who deals in commercial line. This helped the insurance company to better manage the risk and to provide the optimal premium price to their customer in the high premium rising market.
- In June 2018, Allstate launched pay per mile i.e. usage based insurance in New Jersey. This insurance gives more control to customer about their insurance premium and plans for using telematics services for better management in their insurance segment.
- In March 2018, Octo Telematics entered into partnership with Renault finance company to provide data analytics and services to its customer globally. This will increase the global market share of the company.
Table of Contents: Global Usage Based Insurance Market
Part 01: Executive Summary
Part 02: Scope of The Report
Part 03: Research Methodology
Part 04: Market Landscape
Part 05: Pipeline Analysis
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation
Part 09: Customer Landscape
Part 10: Regional Landscape
Part 11: Decision Framework
Part 12: Drivers And Challenges
Part 13: Market Trends
Part 14: Vendor Landscape
Part 15: Vendor Analysis
Part 16: Appendix
FREE Table Of Contents Is Available [email protected]https://www.databridgemarketresearch.com/toc?dbmr=global-usage-based-insurance-market
This reports includes the following deliverable
- Macro Indicator Analysis
- Global Usage Based Insurance Market Overview
- Global Usage Based Insurance Market Dynamics, Drivers, Restraints, Opportunities and Challenges
- Global Usage Based Insurance Market Competitive Landscape, Product Launches and Pipeline Analysis
- Value Chain Analysis
- Market Mergers, Acquisitions and Agreements
- Company Profiles
This report scope includes a holistic study of the current dynamics of the market, industry growth and restraints of the Global Usage Based Insurance Market. It provides the market forecast to 2025, recent developments in the market and pipeline analysis of the major players. The report also includes a review of micro and macro forecasts, new entrant strategies, and market penetration strategies with a comprehensive value chain analysis.
Key Questions Answered in This Report
- What will the Global Usage Based Insurance Market size be in 2025 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
Key reason to Purchase the report
- To describe and forecast the Global Usage Based Insurance Market, in terms of value, by process, product type, and industry.
- To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, and detail the competitive landscape for market leaders
- To describe and forecast the market, in terms of value, for various segments, by region North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
- To provide detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the Global Usage Based Insurance Market growth
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various trocars across geographies.
- To strategically analyze micro markets with respect to individual growth trends, prospects, and contribution to the overall market
Key focus of the report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward-looking perspective on different factors driving or restraining market growth
- It provides five-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
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Customization of the Report
- The report includes the complete segmentation displayed above across all above mentioned countries
- All products covered in the Global Usage Based Insurance Market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)
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