Usage-Based Insurance Market Size is Expected to Reach $149.2 Billion by 2027
Usage-based insurance (UBI) is a telematics-based, auto insurance service that monitors cars, trucks, and other commercial or private vehicles, by keeping track of distance covered. The first successfully used telematics was initiated by long-distance truck fleet operators to track and coordinate vehicle movements for operational, maintenance, and other purposes. The premiums are calculated according to the data assessed by the telematics device, which includes miles driven, time of day, where the vehicle is driven, rapid acceleration, and hard braking. Moreover, growing adoption of usage-based insurance among the end user owing to its various features such as providing accurate and timely data collection methods and flexible insurance premiums, boosts the growth of the global usage-based insurance market.
As per the study published by
Download Sample Report (Get Full Insights in PDF – 250+ Pages) @ https://www.alliedmarketresearch.com/request-sample/1742
The latest technological developments and surge in demand are the prime factors behind the rapid usage-based insurance market growth. The report includes a detailed study of the major market trends, driving factors, top 10 market players, and prime investment pockets.
Major market players
The report covers a comprehensive study of the major market players that are currently operating in the Usage-based insurance market. These market players are
The competitive analysis of these organizations includes a thorough business overview, portfolio analysis of services and products. The companies have adopted several strategies including joint ventures, partnerships, new product launches, mergers & acquisitions, and collaboration to continue their dominant position in the market.
The report offers a comprehensive study of the dynamic driving and restraining factors, major challenges, and lucrative opportunities. Furthermore, the report provides a SWOT analysis that aids to understand the restraining and driving factors in the industry. The report outlines market segmentation and covers the study of major market players. Moreover, the report provides an in-depth study of the impact of the Covid-19 outbreak on the global Usage-based insurance market growth with an overview, definition and scope highlights.
The Usage-based insurance market report provides a detailed analysis of the market based on multiple parameters such as sales, sales analysis, market size, and major driving factors. Furthermore, the report provides Porter's five forces analysis, SWOT analysis, portfolio and financial analysis, and business overview of services and products. Such statistical tools offer essential information about leading market players and help recognize lucrative opportunities in the industry. The report helps market players and new industry entrants to formulate sound business strategies and leverage the upcoming opportunities in the market.
Interested to Procure the Data? Inquire Here @ https://www.alliedmarketresearch.com/purchase-enquiry/1742
The report provides a detailed study of the major market trends and driving factors that increase the growth of the Usage-based insurance market. The study of drivers and opportunities helps in understanding the dynamic industry trends and how companies can leverage such trends. On the other hand, the study of challenges and restraints included in the report helps in recognizing lucrative market investments. The global usage-based insurance market report offers both quantitative and qualitative analyses of the market. The qualitative study covers the value chain analysis, pain point analysis, and key regulations.
The report includes a detailed analysis of the impact of the Covid-19 pandemic on the market. The prolonged lockdown across the globe and stringent restrictions on international trade has a significant impact on the global Usage-based insurance market. The Covid-19 outbreak has resulted in a disrupted supply chain and increased the prices of raw materials. The report provides consumer preferences, trends, and budget impact on the market due to the Covid-19 pandemic.
The global Usage-based insurance market offers detailed segmentation based on types, applications, and region. The Usage-based insurance market is segmented on the basis of geography. The regions studied in the report are
The report includes a comprehensive study of market trends, major market players, and top investment pockets that help understand strategies and make informed decisions. The study involves a detailed analysis of the top impacting factors and major investment pockets that affect the overall market growth.
Get Detailed COVID-19 Impact Analysis on the usage-based insurance market @ https://www.alliedmarketresearch.com/request-for-customization/1742?reqfor=covid
Key Benefits For Stakeholders
- The study provides an in-depth analysis of global usage-based insurance market forecast along with the current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on global usage-based insurance market is provided in the report.
- Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- A quantitative analysis of the market from 2020 to 2027 is provided to determine the market potential.
Key Market Segments
- Pay-as-you-drive (PAYD)
- Pay-how-you-drive (PHYD)
- Manage-how-you-drive (MHYD)
- OBD-II-based UBI programs
- Smartphone-based UBI programs
- Hybrid-based UBI programs
- Black-box-based UBI programs
By Vehicle Age
- New Vehicles
- Used Vehicles
By Vehicle Type
- Light-Duty Vehicle (LDV)
- Heavy-Duty Vehicle (HDV)
North America U.S. Canada
Europe Germany France UK Italy Spain Belgium
- Rest of
Asia-Pacific China Japan Australia Singapore Thailand
- Rest of
Latin America Middle East Africa
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research
As Well-Being Declines, Workers Look To Employers For More Support
Health/Employee Benefits News
Life Insurance News