The Global Automotive Usage-Based Insurance (UBI) market was valued US$ 28.1 billion in 2021 and is projected to reach US$ 145.8 billion by 2030, growing at a CAGR of 27.9% from 2022 to 2030.
The flexible insurance premium, lower accident & vehicle theft possibilities, accurate & timely data collection, and lower fuel consumption are the major factors driving the market.
Major market player included in this report are:
Allianz SE
Allstate Insurance Company
ASSICURAZIONI GENERALI SPA
AXA
Cambridge Mobile Telematics
Danlaw Inc.
Desjardins Group
Insure The Box Limited
Intelligent Mechatronic Systems Inc.
Liberty Mutual Insurance
Mapfre, S.A.
Metromile Inc.
Nationwide
Octo Technology
Progressive Casualty Insurance Company
Sierra Wireless
State Farm Mutual Automobile Insurance Company
TomTom International BV
UnipolSai Assicurazioni S.p.A.
Vodafone Automotive SpA
Zubie, Inc
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Insurance Type
Pay-how-you drive (PHYD)
Pay-as-you drive (PAYD)
Distance based insurance
Manage-how-you drive (MHYD)
By Vehicle Type
Passenger Cars
Light Commercial Vehicle
Heavy Commercial Vehicle
By Technology
OBD-II
Smartphone
Blackbox
Embedded Telematics
By Vehicle Age
New Vehicles
On-Road Vehicles
By Region:
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Spain
Italy
Rusia
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of MEA
Furthermore, years considered for the study are as follows:
Historical year 2017, 2020
Base year 2021
Forecast period 2022 to 2030.
Target Audience of the Global Automotive Usage-based Insurance Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
