Self-driving Car Insurance Market to Reach $88.1 billion, by 2032 at 15.3% CAGR: Allied Market Research
Advancement in autonomous technology is the main significant factor that drives the growth of self-driving car insurance market.
WILMINGTON, Del.,
According to the report, the global self-driving car insurance industry generated
(We are providing report as per your research requirement, including the Latest Industry Insight's Evolution, Potential and COVID-19 Impact Analysis)
400 – Pages
152 – Table
49 – Charts
Prime determinants of growth
Advancement in autonomous technology is the main significant factor driving the growth of self-driving car insurance market. Furthermore, regulatory complexities hamper the self-driving car insurance market growth. Moreover, the increase in purchase of vehicles provides significant opportunity for self-driving car insurance market growth.
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Report coverage & details:
Report Coverage |
Details |
Forecast Period |
2023–2032 |
Base Year |
2022 |
Market Size in 2022 |
|
Market Size in 2032 |
|
CAGR |
15.3 % |
Segments Covered |
Application, Insurance Coverage, Distribution Channel, and Region |
Drivers |
Advancement in autonomous technology |
Opportunities |
Regulatory complexities |
Restraints |
Increase in purchase of vehicles |
COVID-19 scenario
- The COVID-19 pandemic had a negative impact on the global self-driving car insurance market size. Owing to the virus's quick spread, businesses were compelled to hold their activities and movements. Automotive manufacturing activities were kept on hold.
The personal segment to maintain its leadership status throughout the forecast period
By application, the personal segment held the highest market share in 2022, accounting for three-fourths of the self-driving car insurance market revenue and is estimated to maintain its leadership status throughout the forecast period. This is due to increasing business activities and increasing vehicle usage for the same. However, from 2023 to 2032, the personal segment is expected to grow at the fastest rate of 17.5%. This is due to increasing purchasing power of the people
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The third-party liability coverage segment to maintain its leadership status throughout the forecast period
On the basis of insurance coverage, the third-party liability coverage segment attained more than four-fifths of the market-share and is expected to continue to dominate the market during the forecast period because of growing number of vehicles and accidents. However, from 2023 to 2032, the comprehensive plan segment is expected to grow at the fastest rate of 16.3%. This is due to the additional benefits offered by the segment as compared to the standard plan.
The independent agents/brokers segment to maintain its leadership status throughout the forecast period
By distribution channel, the independent agents/brokers segment held the highest market share in 2022, accounting for nearly two-fifths of the self-driving car insurance market revenue and is estimated to maintain its leadership status throughout the forecast period. This is due to the advancements in automotive technology, which demands the need for experts to provide information to the consumers regarding the technology. However, from 2023 to 2032, the others segment is expected to grow at the fastest rate of 17.9%. This is due to increasing technology companies, automobile manufacturers and corporate partnerships.
The
By region,
Leading Market Players: -
- Tesla
- Nissan
Adrian Flux Insurance Services - Ford
- Audi
Mercedes Benz Volkswagen - General Motors
- Mobile Eye
- Allianz
- TuSimple
China Pacific Group Insurance Company Limited - Industrial and Commercial Bank of China Limited (ICBC)
- GEICO
The report provides a detailed analysis of these key players of the global self-driving car insurance market. These players have adopted different strategies such as new product launches, partnerships, and other strategies to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the self-driving car insurance market analysis from 2022 to 2032 to identify the prevailing opportunity.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of self-driving car insurance market opportunity segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global self-driving car insurance market trends, key players, market segments, application areas, and market growth strategies.
𝐀𝐜𝐜𝐞𝐬𝐬 𝐀𝐕𝐄𝐍𝐔𝐄 - 𝐀 𝐒𝐮𝐛𝐬𝐜𝐫𝐢𝐩𝐭𝐢𝐨𝐧-𝐁𝐚𝐬𝐞𝐝 𝐋𝐢𝐛𝐫𝐚𝐫𝐲 (𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐎𝐧-𝐃𝐞𝐦𝐚𝐧𝐝, 𝐒𝐮𝐛𝐬𝐜𝐫𝐢𝐩𝐭𝐢𝐨𝐧-𝐁𝐚𝐬𝐞𝐝 𝐏𝐫𝐢𝐜𝐢𝐧𝐠 𝐌𝐨𝐝𝐞𝐥) @ https://bit.ly/3ULFjLi
Self-Driving Car Insurance Market Report Highlights
By Application
- Personal
- Commercial
By Insurance Coverage
- Third Party Liability Coverage
- Comprehensive Coverage
By Distribution Channel
- Independent Agents/ Brokers
- Direct Sales
- Banks
- Others
By Region
North America (U.S. ,Canada )Europe (UK ,Germany ,France ,Italy ,Spain , Rest ofEurope )Asia-Pacific (China ,Japan ,India ,Australia ,South Korea , Rest ofAsia-Pacific )Latin America (Brazil ,Argentina , Rest ofLatin America )Middle East andAfrica (Gcc Countries,South Africa , Rest of Middle East And Africa)
Key Market Players
General Motors, Audi,
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