Global Automotive Usage Based Insurance Market is expected to grow from US$ 15.62 Bn in 2018 to US$ 105.12 Bn in 2027 at a CAGR of 23.6% between 2019 and 2027.
Latest market study “Automotive Usage Based Insurance Market to 2027- by Technology Fitted (Smartphones, Black Box, and Dongles); and Policy Type (Pay-As-You-Drive and Pay-How-You-Drive) – Global Analysis and Forecast”. The Automotive Usage Based Insurance Market is estimated to reach US$ 105.12 Bn by 2027 from US$ US$ 15.62 Bn in 2018. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
The Automotive Usage Based Insurance Market is among the fastest-growing branches of economy. To be successful in this rapidly evolving, highly competitive sector, companies need high-quality, up-to-date information and insight. The Insight Partners Research Publications have been providing research and market analysis services for the Automotive Usage Based Insurance Market sectors.
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The key players profiled in the automotive usage based insurance market report includes Vodafone Automotive, Liberty Mutual Insurance Company, Allianz Insurance, TomTom Telematics, Allstate Insurance, Octo Telematics, Metromile, Siera Wireless, Ingenie Service Ltd., AXA Insurance, UnipolSai Assicurazioni S.p.A., and MetaSystems among others.
Automotive Usage Based Insurance Market report aims to provide a 360-degree view of the market in terms of cutting-edge technology, key developments, drivers, restraints and future trends with impact analysis of these trends on the market for short-term, mid-term and long-term during the forecast period. Further, the report also covers key players profiling with detailed SWOT analysis, financial facts and key developments of products/service from the past three years.
Automotive Usage Based Insurance Market – Global Analysis to 2027 is an expert compiled study which provides a holistic view of the market covering current trends and future scope with respect to product/service, the report also covers competitive analysis to understand the presence of key vendors in the companies by analyzing their product/services, key financial facts, details SWOT analysis and key development in last three years. Further chapter such as industry landscape and competitive landscape provides the reader with recent company level insights covering mergers and acquisitions, joint ventures, collaborations, new product developments/strategies taking place across the ecosystem. The chapters also evaluate the key vendors by mapping all the relevant products and services to exhibit the ranking/position of top 5 key vendors.
Presently, insurance providers are inclined to follow either the two routes, i.e. installation of hardware devices, where devices are equipped to the policyholders’ cars or the low-priced smartphone app route. Both of these methods of tracking information have their advantages and disadvantages, however, they are not commonly exclusive. An insurance provider might want a customer to download an app and later shift to a plug-in device. To stay competitive in the market, the insurance providers need to build internal capability, i.e. significant investment and efforts are required to establish liaison with telematics service providers. Before selecting an appropriate method to track information, an insurance provider needs to make several considerations. Most of the insurance providers use on-board diagnostics systems, i.e. OBDII (black boxes or dongles). However, other providers offer smartphone apps that are easier to access and economical. Comparatively very few of the insurance providers offer both the hardware and smartphone app.
Also, key immersive virtual reality market players influencing the market are profiled in the study along with their SWOT analysis and market strategies. The report also focuses on leading industry players with information such as company profiles, products and services offered, financial information of last 3 years, key development in past five years.
The report segments the Global Automotive Usage Based Insurance Market as follows:
Global Automotive UBI Market – By Technology Fitted
Global Automotive UBI Market – By Policy Type
Global Automotive UBI Market – By Geography
Rest of Europe
Asia Pacific (APAC)
Rest of Asia-Pacific
Rest of World (RoW)
Rest of RoW
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