Usage-Based Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $2,499	145 Pages	IMARC Services Pvt. Ltd.	July, 2022	IMRC17301367

Best Price Guarantee
Price	from $2,499
Length	145 Pages
Publisher	IMARC Services Pvt. Ltd.
Published Date	July, 2022
SKU	IMRC17301367

Usage-Based Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

The global usage-based insurance market reached a value of US$ 33.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 123.4 Billion by 2027, exhibiting a CAGR of 24.47% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Usage-based insurance (UBI), or telematics insurance, is a form of a specialized automobile insurance policy that calculates the premium based on the usage of the vehicle or the consumer driving behavior. It is commonly available in the form of pay-how-you-drive (PHYD) and pay-per-mile formats (PPM). The premium is calculated according to the readings obtained from the telematics device installed in the vehicle to monitor the speed, time and distance covered and observe the driving pattern. In comparison to the conventional insurance policies, UBI is more personalized, aids in promoting good driving practices, minimizes the instances of road accidents and offers enhanced satisfaction to the policy holder.

Significant growth in the automotive industry across the globe is one of the key factors creating a positive outlook for the market. Moreover, the widespread adoption of remote diagnostics to monitor consumer driving behavior is providing a thrust to the market growth. Automobile manufacturers are embedding advanced telematics-based platforms in light-duty vehicles (LDV) to monitor driving habits and prevent any sudden failures or accidents on the road. These systems also minimize the requirement of installing an additional black-box in the vehicles to record vehicular data, thereby favoring the market growth. Additionally, the development of connected vehicles and increasing concerns for driver safety, are also contributing to the growth of the market. Other factors, including a significant reduction in UBI insurance premium rates, along with the implementation of favorable government policies promoting the use of telematics, are anticipated to drive the market toward growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global usage-based insurance market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, technology, vehicle type and vehicle age.

Breakup by Type:

Pay-As-You-Drive (PAYD)
Pay-How-You-Drive (PHYD)
Manage-How-You-Drive (MHYD)
Others

Breakup by Technology:

OBD II
Black Box
Smartphones
Others

Breakup by Vehicle Type:

Light-duty Vehicle (LDV)
Heavy-duty Vehicle (HDV)

Breakup by Vehicle Age:

New Vehicles
Used Vehicles

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Aioi Nissay Dowa Insurance UK Ltd, Allianz SE, Allstate Insurance Company, American International Group Inc., Assicurazioni Generali S.p.A., AXA , Liberty Mutual Insurance Company, Mapfre S.A., Progressive Casualty Insurance Company, State Farm Automobile Mutual Insurance Company, TomTom International BV. and UnipolSai Assicurazioni S.p.A. (Unipol Gruppo S.p.A).

Key Questions Answered in This Report:
How has the global usage-based insurance market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global usage-based insurance market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the vehicle type?
What is the breakup of the market based on the vehicle age?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global usage-based insurance market and who are the key players?
What is the degree of competition in the industry?

1 Preface
2 Scope and Methodology: 2.1 Objectives of the Study; 2.2 Stakeholders; 2.3 Data Sources; 2.3.1 Primary Sources; 2.3.2 Secondary Sources; 2.4 Market Estimation; 2.4.1 Bottom-Up Approach; 2.4.2 Top-Down Approach; 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction: 4.1 Overview; 4.2 Key Industry Trends
5 Global Usage-Based Insurance Market: 5.1 Market Overview; 5.2 Market Performance; 5.3 Impact of COVID-19; 5.4 Market Forecast
6 Market Breakup by Type: 6.1 Pay-As-You-Drive (PAYD); 6.1.1 Market Trends; 6.1.2 Market Forecast; 6.2 Pay-How-You-Drive (PHYD); 6.2.1 Market Trends; 6.2.2 Market Forecast; 6.3 Manage-How-You-Drive (MHYD); 6.3.1 Market Trends; 6.3.2 Market Forecast; 6.4 Others; 6.4.1 Market Trends; 6.4.2 Market Forecast
7 Market Breakup by Technology: 7.1 OBD II; 7.1.1 Market Trends; 7.1.2 Market Forecast; 7.2 Black Box; 7.2.1 Market Trends; 7.2.2 Market Forecast; 7.3 Smartphones; 7.3.1 Market Trends; 7.3.2 Market Forecast; 7.4 Others; 7.4.1 Market Trends; 7.4.2 Market Forecast
8 Market Breakup by Vehicle Type: 8.1 Light-duty Vehicle (LDV); 8.1.1 Market Trends; 8.1.2 Market Forecast; 8.2 Heavy-duty Vehicle (HDV); 8.2.1 Market Trends; 8.2.2 Market Forecast
9 Market Breakup by Vehicle Age: 9.1 New Vehicles; 9.1.1 Market Trends; 9.1.2 Market Forecast; 9.2 Used Vehicles; 9.2.1 Market Trends; 9.2.2 Market Forecast
10 Market Breakup by Region: 10.1 North America; 10.1.1 United States; 10.1.1.1 Market Trends; 10.1.1.2 Market Forecast; 10.1.2 Canada; 10.1.2.1 Market Trends; 10.1.2.2 Market Forecast; 10.2 Asia-Pacific; 10.2.1 China; 10.2.1.1 Market Trends; 10.2.1.2 Market Forecast; 10.2.2 Japan; 10.2.2.1 Market Trends; 10.2.2.2 Market Forecast; 10.2.3 India; 10.2.3.1 Market Trends; 10.2.3.2 Market Forecast; 10.2.4 South Korea; 10.2.4.1 Market Trends; 10.2.4.2 Market Forecast; 10.2.5 Australia; 10.2.5.1 Market Trends; 10.2.5.2 Market Forecast; 10.2.6 Indonesia; 10.2.6.1 Market Trends; 10.2.6.2 Market Forecast; 10.2.7 Others; 10.2.7.1 Market Trends; 10.2.7.2 Market Forecast; 10.3 Europe; 10.3.1 Germany; 10.3.1.1 Market Trends; 10.3.1.2 Market Forecast; 10.3.2 France; 10.3.2.1 Market Trends; 10.3.2.2 Market Forecast; 10.3.3 United Kingdom; 10.3.3.1 Market Trends; 10.3.3.2 Market Forecast; 10.3.4 Italy; 10.3.4.1 Market Trends; 10.3.4.2 Market Forecast; 10.3.5 Spain; 10.3.5.1 Market Trends; 10.3.5.2 Market Forecast; 10.3.6 Russia; 10.3.6.1 Market Trends; 10.3.6.2 Market Forecast; 10.3.7 Others; 10.3.7.1 Market Trends; 10.3.7.2 Market Forecast; 10.4 Latin America; 10.4.1 Brazil; 10.4.1.1 Market Trends; 10.4.1.2 Market Forecast; 10.4.2 Mexico; 10.4.2.1 Market Trends; 10.4.2.2 Market Forecast; 10.4.3 Others; 10.4.3.1 Market Trends; 10.4.3.2 Market Forecast; 10.5 Middle East and Africa; 10.5.1 Market Trends; 10.5.2 Market Breakup by Country; 10.5.3 Market Forecast
11 SWOT Analysis: 11.1 Overview; 11.2 Strengths; 11.3 Weaknesses; 11.4 Opportunities; 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis: 13.1 Overview; 13.2 Bargaining Power of Buyers; 13.3 Bargaining Power of Suppliers; 13.4 Degree of Competition; 13.5 Threat of New Entrants; 13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape: 15.1 Market Structure; 15.2 Key Players; 15.3 Profiles of Key Players; 15.3.1 Aioi Nissay Dowa Insurance UK Ltd; 15.3.1.1 Company Overview; 15.3.1.2 Product Portfolio; 15.3.2 Allianz SE; 15.3.2.1 Company Overview; 15.3.2.2 Product Portfolio; 15.3.2.3 Financials; 15.3.2.4 SWOT Analysis; 15.3.3 Allstate Insurance Company; 15.3.3.1 Company Overview; 15.3.3.2 Product Portfolio; 15.3.3.3 Financials; 15.3.3.4 SWOT Analysis; 15.3.4 American International Group Inc.; 15.3.4.1 Company Overview; 15.3.4.2 Product Portfolio; 15.3.4.3 Financials; 15.3.4.4 SWOT Analysis; 15.3.5 Assicurazioni Generali S.p.A.; 15.3.5.1 Company Overview; 15.3.5.2 Product Portfolio; 15.3.5.3 Financials; 15.3.5.4 SWOT Analysis; 15.3.6 AXA; 15.3.6.1 Company Overview; 15.3.6.2 Product Portfolio; 15.3.6.3 Financials; 15.3.6.4 SWOT Analysis; 15.3.7 Liberty Mutual Insurance Company; 15.3.7.1 Company Overview; 15.3.7.2 Product Portfolio; 15.3.8 Mapfre S.A.; 15.3.8.1 Company Overview; 15.3.8.2 Product Portfolio; 15.3.9 Progressive Casualty Insurance Company; 15.3.9.1 Company Overview; 15.3.9.2 Product Portfolio; 15.3.9.3 Financials; 15.3.9.4 SWOT Analysis; 15.3.10 State Farm Automobile Mutual Insurance Company; 15.3.10.1 Company Overview; 15.3.10.2 Product Portfolio; 15.3.10.3 SWOT Analysis; 15.3.11 TomTom International BV.; 15.3.11.1 Company Overview; 15.3.11.2 Product Portfolio; 15.3.11.3 Financials; 15.3.11.4 SWOT Analysis; 15.3.12 UnipolSai Assicurazioni S.p.A. (Unipol Gruppo S.p.A); 15.3.12.1 Company Overview; 15.3.12.2 Product Portfolio; 15.3.12.3 Financials