Usage-Based Insurance market report delivers a detailed study with present and upcoming Opportunities to clarify the future investment in the market. Global Usage-Based Insurance industry 2018-2025 report shares information regarding key drivers, challenges, and Opportunities with its impact by regions. This report is a valuable source of guidance for companies and individuals offering Industry Chain Structure, Business Strategies and Proposals for New Project Investments. The report also studies the various inhibitors as well as motivators of the Usage-Based Insurance Products market in both quantitative and qualitative manners in order to provide accurate information to the readers.
MARKET ANALYSIS OVERVIEW:
The Usage-Based Insurance industry is largely based on the driver and the usage of his vehicle and the way he drives. The premium is calculated on these factors which induces lower insurance premium and motivates the user to drive safer. These factors are driving the market and growing the market value from an estimated value of USD 21 billion in 2017 to an estimated value of USD 87.32 billion by 2025, also registering a CAGR of 19.5%.
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Well Known Players of Global Usage-Based Insurance Market are Allianz, AXA, Progressive Insurance, Allstate, Allstate Canada, Desjardins, Generali, MAPFRE, Metromile, Aviva, Admiral Group Plc, Ageas Group, Octo Telematics, TomTom Telematics, Liberty Mutual Insurance, Intelligent Mechatronic Systems – IMS, Mitsui Sumitomo Insurance Co. (Europe) Ltd, Watchstone Group plc, Allianz Australia, Aviva Canada, Allianz Asia Pacific, AXA Insurance Company, AXA US, Aviva Asia, AXA Italia, AXA UK, Ageas UK, Liberty Mutual Insurance Europe Limited
Key Highlights Of The Usage-Based Insurance Market Report:
- Get enlightened information available on the Usage-Based Insurance market worldwide.
- Identify growth in various segments and investment opportunities. Benchmark fulfillment adjacent the key adversary.
- The main criterion related to Usage-Based Insurance industry area including the overall structure of the product, numbers of applications, price, demand, and supply are enfolded in this report.
- The research of emerging Usage-Based Insurance market section and extant industry segments will aid the investors or novice in formulating and developing business strategies.
- Facilitates decision making in view of noteworthy and gauging information also the drivers and limitations available of the market.
- Global Usage-Based Insurance Market share assessments for the regional and country level segments.
Market Drivers:
- Reduced Premium costs in comparison to normal automotive insurance, also increase in the vehicle sales has raised the demand for insurance of vehicles
- Technology is projected to advance in the coming years and hence, Usage-Based insurance which is majorly dependent on the technological aspect is projected to register significant market growth
Market Restraints:
- Usage-Based Insurance is dependent on the driving score. The technology used to calculate these driving scores is expected to be expensive in future, therefore, increasing the cost of the insurance will be a major restraining factor
- Government regulations are not clear on Usage-Based Insurance, which makes the whole process complicated as no clear regulations are set for the users
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TABLE OF CONTENTS
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 05: PIPELINE ANALYSIS
- Pipeline analysis
PART 06: MARKET SIZING
- Market definition
- Market sizing
- Market size and forecast
PART 07: PORTER’S FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 08: MARKET SEGMENTATION
- Segmentation
- Comparison
- Market opportunity
PART 09: CUSTOMER LANDSCAPE
PART 10: REGIONAL LANDSCAPE
- Geographical segmentation
- Regional comparison
- North America
- South America
- Europe
- MEA
- APAC
- Market opportunity
PART 11: DECISION FRAMEWORK
PART 12: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 13: MARKET TRENDS
PART 14: VENDOR LANDSCAPE
- Overview
- Landscape disruption
PART 15: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
PART 16: APPENDIX
- List of abbreviations
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COMPETITIVE ANALYSIS AND KEY POINT
The Global Usage-Based Insurance Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Usage-Based Insurance market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
MARKET SEGMENTATION
Based on region, the market split into
- North America,
- Europe,
- Asia-Pacific, and
- Middle East & Africa, and
- South America
The geographical regions are further segmented into 24 major countries such as U.S. Canada, Mexico, Germany, France, U.K., Belgium, Switzerland, Belgium, Turkey, Japan, China, Singapore, Brazil, India, Russia, South Africa and many others.
U.S. is expected to dominate the market due to the rising pool of elderly population and chronic disease patient pool. Telehealth will help to U.S. healthcare model to shift from episodic model to dynamic continuous monitoring, leading to betterment of healthcare.
By Technology
- On-board Diagnostics-II
- Smartphone
- Embedded System
- Black Box
By Device
- Bring Your Own Device
- Company Provided
By Vehicle Age
- New Vehicles
- On-Road Vehicles
By Package Type
- Pay-As-You-Drive (PAYD)
- Pay-How-You-Drive (PHYD)
- Manage-How-You-Drive (MHYD)
By Electric & Hybrid Vehicles
- Hybrid Electric Vehicle (HEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
- Battery Electric Vehicle
By Vehicle Type
- Light-Duty Vehicle
- Heavy-Duty Vehicle
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