Press release
Automotive Usage Based Insurance Market : Statistics, Facts and Figures, Share, Segmentation and Forecast by 2027
Automotive Usage Based Insurance Market to 2027
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.
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Automotive usage based insurance market is experiencing high growth across the globe, with the increasing adoption of mobility-as-a-service worldwide. Furthermore, the different reward programs offered by insurers is another factor propelling the market growth.
Leading Automotive Usage Based Insurance Market Players:
1. Vodafone Automotive
2. Liberty Mutual Insurance Company
3. Allianz SE
4. TomTom Telematics
5. Allstate Insurance
6. Octo Telematics
7. Metromile
8. Siera Wireless
9. Ingenie Service Ltd.
10. AXA SA
The matured markets in global automotive usage based insurance market accounted for the US, Italy and the UK, owing to which North America led the market followed by Europe. The dominance of North America in global automotive usage based insurance market is due to the fact that, the country houses a large number of automotive OEMs, telematics companies, and insurance companies. Additionally, the trend of adoption of newer technologies and solutions is also high in the country, which has pushed the residents to opt for telematics insurance.
Worldwide Automotive Usage Based Insurance Market Analysis to 2027 is a specialized and in-depth study of the Automotive Usage Based Insurance industry with a focus on the global market trend. The report aims to provide an overview of global Automotive Usage Based Insurance Market with detailed market segmentation by product/application and geography. The global Automotive Usage Based Insurance Market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the players and offers key trends and opportunities in the market.
Further, owing to the higher disposable income among the individuals, the pattern of procurement of new vehicles is high in the country. Pertaining to the rise in the number of vehicles, several associated technologies and solutions are also increasing rapidly in the US. These factors have positively impacted on the growth of the usage based insurance market in the US.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Automotive Usage Based Insurance Market based on product and application. It also provides market size and forecast till 2027 for overall Automotive Usage Based Insurance Market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM), which is later sub-segmented by respective countries and segments. The report evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend and provides exhaustive PEST analysis for all five regions.
Also, key Automotive Usage Based Insurance 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.
Reason to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Automotive Usage Based Insurance Market
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Automotive Usage Based Insurance Market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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