Press release
Automotive Usage Based Insurance Market Will Hit at a Volume CAGR 23.6% From 2027 - Lead by Allianz, Intelligent Mechatronic Systems, Watchstone Group, Octo Telematics, Sierra Wireless, Hubio, Baseline Telematics and Masternaut
Automotive Usage Based Insurance Market
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.
The report focuses on an in-depth segmentation of automotive usage based insurance market based on technology fitted and policy type. The geographic segmentation of the report covers major regions including; North America, Europe, Asia-Pacific (APAC), and Rest of World (RoW). The regional market has been further bifurcated by respective countries. By policy type, Pay-How-You-Drive policy type segment accounted for the largest share of the automotive usage based insurance market in 2018.
Get Sample Copy of this Report @ https://bit.ly/2SpSEsV
Top Dominating Key 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 global automotive usage based insurance market for the technology fitted is fragmented into smartphones, black box, dongles, and others. The black box segment is expected to dominate the market in 2027. A black box is a small device that is installed in the customer's car to measure vehicle location, speed, driving frequency, distance travelled, and time of the day or night the vehicle is in motion.
Further, other driving behaviors can also be measured which includes monitoring braking, and cornering. This helps in building a comprehensive profile of the driver. The data gathered on driving behaviors provides information on how safe the driving pattern is. This information is then converted into a score that is used by the car insurance provider for creating a customized premium for the driver.
Also, an insurance provider can reward a driver securing high score with a lower premium rate. However, issues related to data privacy is a major concern among customers. Sharing personally identifiable information of customers gathered from black boxes with third parties such as law enforcement agencies or banks may result in invasion of privacy. This may hinder the market growth to certain extent.
Further, the smartphones segment is also expected to gain market share during the forecast period. . Smartphone apps are suitable for insurance providers that are targeting particular groups hence, acquiring niche market share. As their UBI business grows, insurance providers may invest in OBDII and offer this on a long-term basis to specific customer segments.
The report segments the Global Automotive Usage Based Insurance Market as follows:
Global Automotive UBI Market - By Technology Fitted
• Smartphones
• Black Box
• Dongles
• Others
Global Automotive UBI Market - By Policy Type
• Pay-As-You-Drive (PAYD)
• Pay-How-You-Drive (PHYD)
Request for Buy Report @ https://bit.ly/2MPFEYf
Reasons to Buy the Report :
• Learn about the driving factors, affecting the market growth.
• Imbibe the advancements and progress in the market during the forecast period.
• Understand where the market opportunities lies.
• Compare and evaluate various options affecting the market.
• Pick up on the leading market players within the market.
• Envision the restrictions and restrains that are likely to hamper the market.
Contact Us:
The Insight partners,
Phone: +1-646-491-9876
Email: sales@theinsightpartners.com
Website: www.theinsightpartners.com
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Automotive Usage Based Insurance Market Will Hit at a Volume CAGR 23.6% From 2027 - Lead by Allianz, Intelligent Mechatronic Systems, Watchstone Group, Octo Telematics, Sierra Wireless, Hubio, Baseline Telematics and Masternaut here
News-ID: 1817536 • Views: …
More Releases from The Insight Partners
Memory Implants Market Projected to Grow Significantly, Fueled by AI and Neurosc …
New York, US - September 3, 2025 - A new report from The Insight Partners, titled "Memory Implants Market - Global Analysis and Forecast," projects that the global market for memory implants is poised for substantial growth. The report indicates that this market expansion is being propelled by increasing investment in neurodegenerative disease research, a surge in demand for brain-computer interface technologies, and the rising adoption of personalized medicine.
Get Sample…
How Smart Tech and Automation are Powering the Motor Protection Market
New York, US - September 03, 2025- Based on a recent report by The Insight Partners, the global market for motor protection is on a path of significant growth, with projections extending to 2031. The report, titled "Motor Protection Market Share, Size, Trends, and Forecast by 2031," highlights that this expansion is primarily driven by widespread
industrialization, advancements in technology, and the implementation of more stringent safety regulations across the…
Medical Cooling System Market Poised for Substantial Growth, Driven by Patient S …
New York, US - September 04, 2025- According to a new report from The Insight Partners, titled "Medical Cooling System Market - Global Analysis and Forecast," the global market for medical cooling systems is on a path of substantial growth. The report projects that the market is being propelled by the critical need for patient safety, an expanding number of medical procedures, and ongoing technological evolution in diagnostic and therapeutic…
Report Forecasts Significant Expansion for Massage Tables Market Due to Wellness …
New York, US - September 04, 2025- The Insight Partners' new report, "Massage Tables Market - Global Analysis and Forecast," projects a strong expansion for the global massage tables market. The report finds that market growth is being fueled by an increasing need for professional massage services, a heightened public awareness of health benefits, and continuous technological innovation in table design.
Download PDF Sample Copy @ https://www.theinsightpartners.com/sample/TIPRE00026956/?utm_source=OpenPR&utm_medium=10813
Key Market Drivers: Wellness, Health,…
More Releases for Automotive
Automotive Grommet Market set for explosive growth: Cooper Standard Automotive, …
According to HTF MI, "Global Automotive Grommet Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2030". The Global Automotive Grommet Market is anticipated to grow at a compound annual growth rate (CAGR) of 5.96% from 2024 to 2030, reaching USD 100 Billion in 2024 and USD 150 Billion by 2030.
Automotive grommets are protective rings or eyelets made from rubber or plastic, used to protect or cover holes in metal…
KSA Automotive Market | KSA Automotive Industry | KSA Automotive Industry Resear …
Saudi Arabia’s automotive market faced a decline in new car sales due to tripling of value-added tax (VAT) rates. Effective in July 1, 2020, Saudi Arabia hiked its VAT from 5% to 15%.
Vision 2030 trying to attract foreign investment to kick start Dammam manufacturing city to aid re-exports & fulfill domestic demand
Surge in Domestic Manufacturing to gain independence of Imports: With Vision 2030, KSA is trying to gain impendence of…
Automotive Fuel Injectors Market: Growing Automotive Sales Fueling Automotive Fu …
Automotive fuel injectors market is likely to grow at a steady pace in the long run, according to a new report by Fact.MR. The demand for automotive fuel injectors continues to remain influenced with a multitude of industry-specific and macroeconomic factors. Significant growth in the automotive sector, coupled with increasing vehicle fleet remain instrumental in driving the demand for automotive fuel injectors worldwide. Fact.MR estimates that the sales of automotive fuel injectors are expected…
Global Automotive Safety Market 2019 Worldwide Outlook By Autoliv, Delphi Automo …
Automotive safety systems are designed to comply with the standards and regulations prescribed by government agencies and transport authorities worldwide. Passive safety systems are designed to protect passengers, drivers, and pedestrians during an accident.
In terms of region, the global Automotive Passive Safety Systems market can be segmented into North America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is likely to hold a prominent share of the global…
Global Oil Pump for Automotive Market 2018 Analysis -Bosch,Denso,Aisin Seiki,Del …
According to this study, over the next five years the Oil Pump for Automotive market will register a xx% CAGR in terms of revenue, the global market size will reach US$ xx million by 2023, from US$ xx million in 2017. In particular, this report presents the global market share (sales and revenue) of key companies in Oil Pump for Automotive business.
Get Sample Copy of this Report for more Information…
Global Automotive Body Welded Assembly Market 2018 - Daesan, Baylis Automotive, …
Accord Market, recently published a detailed market research study focused on the “Automotive Body Welded Assembly Market” across the global, regional and country level. The report provides 360° analysis of “Automotive Body Welded Assembly Market” from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global PP Pipe industry, and estimates the future trend of…
