Usage-Based Insurance Market Report 2021, Size, Share, Trends and Forecast to 2026
The global usage-based insurance market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 19% during the forecast
Sheridan, United State – August 5, 2021 /MarketersMedia/ —
According to the latest report by IMARC Group “ Usage-Based Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026 “, The global usage-based insurance market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 19% during the forecast period (2021-2026).
Usage-based insurance refers to a specialized automobile insurance policy that is widely available in pay-how-you-drive (PHYD) and pay-per-mile (PPM) formats. It calculates the premium of the vehicle on the basis of the usage of the vehicle and the consumer driving behavior that can be analyzed via the readings obtained from the telematics device installed in the automobile for monitoring the speed, time and distance covered.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Request for a free sample copy of this report: https://www.imarcgroup.com/usage-based-insurance-market/requestsample
Market Trends:
The global market is majorly driven by considerable growth in the automotive sector. With the increasing adoption of remote diagnostics to monitor consumer driving patterns, there has been a significant rise in the demand for usage-based insurance across the globe. The market is further driven by the widespread integration of advanced telematics-based platforms in light-duty vehicles (LDV). Their deployment assists in replacing an additional black-box in vehicles for recording relevant data, which is creating a positive outlook for the market. Some of the other factors contributing to the market growth include the rising concerns for driver safety and the continual reductions in the premium rates of usage-based insurance.
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
Market 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 with Key Player:
Aioi Nissay Dowa Insurance UK Ltd
Allianz SE
Allstate Insurance Company
American International Group Inc.
Assicurazioni Generali SpA
AXA
Liberty Mutual Insurance Company
Mapfre SA
Progressive Casualty Insurance Company
State Farm Automobile Mutual Insurance Company
TomTom International BV.
UnipolSai Assicurazioni SpA (Unipol Gruppo SpA).
Ask Analyst for Customization and Browse full report with TOC & List of Figure: https://www.imarcgroup.com/usage-based-insurance-market
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
If you want latest primary and secondary data (2021-2026) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Related Reports
Health insurance market: https://www.imarcgroup.com/health-insurance-market
Cyber Insurance Market: https://www.imarcgroup.com/cyber-insurance-market
Computer Vision Market: https://www.imarcgroup.com/computer-vision-market
Alternative Data Market: https://www.imarcgroup.com/alternative-data-market
Affective Computing Market: https://www.imarcgroup.com/affective-computing-market
Version Control Systems Market: https://www.imarcgroup.com/version-control-systems-market
Custom T-shirt Printing Market: https://www.imarcgroup.com/custom-t-shirt-printing-market
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, and nanotechnology industries. We also provide cost model and manufacturing setup project reports through Syndicated Analytics, a subsidiary of IMARC Group.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact Info:
Name: Elena Anderson
Email: Send Email
Organization: IMARC Group
Address: 30 N Gould St, Ste R Sheridan, WY 82801, United States
Phone: +1-631-791-1145
Website: https://www.imarcgroup.com/
Video URL: https://www.youtube.com/c/Imarcgroup
Source: MarketersMedia
Release ID: 89040351
Copyright © 1999-2013 SproutNews.com
