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Global Usage-Based Insurance Market

Global Usage-Based Insurance Market size is projected to be valued $253 Billion by 2024; with a CAGR of 38% from 2017 to 2025. The factors that drive the growth of the global usage-based insurance market are lower accident and vehicle

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Global Usage-Based Insurance Market

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  1. Copyright © 2019 Accurize Market Research sales@accurizemarketresearch.com Global Usage-Based Insurance Market2017 – 2025 Published by :Accurize Market Research Pvt. Ltd.

  2. Global Usage-Based Insurance (UBI) Market is Estimated to Reach $252.8 Billion by 2024, Says Accurize Market Research • Global usage-based insurance (UBI) market report published by Accurize Market Research forecast that the global market is expected to reach $252.8 billion by 2024; growing at a CAGR of 38.1% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period. • Request Sample: https://www.accurizemarketresearch.com/report/usage-based-insurance-market/sample-request Copyright © 2019 Accurize Market Research sales@accurizemarketresearch.com

  3. Global Usage-Based Insurance (UBI) Market is Estimated to Reach $252.8 Billion by 2024, Says Accurize Market Research • Lesser accident and vehicle theft possibilities, improved customer loyalty, and reduced claims costs across the globe to drive the growth of the market • Lesser accident and vehicle theft possibilities, improved customer loyalty, and reduced claims cost fuels the demand for the global usage-based insurance (UBI) market. Moreover, the detection of stolen automobiles through a telematics device installed in the automobiles to serve consumer interests more effectively also boosts the growth of the market. Copyright © 2019 Accurize Market Research sales@accurizemarketresearch.com

  4. Market Segmentation • The global usage-based insurance (UBI) market has been bifurcated on the basis of type, technology, and geography. By type, the market is segmented into pay-as-you-drive (PAYD), pay-how-you-drive (PHYD), and manage-how-you-drive (MHYD). By technology, the market is bifurcated as OBD-II, smartphone, hybrid, and the black box. • Request Customization: https://www.accurizemarketresearch.com/report/usage-based-insurance-market/ask-for-customization Copyright © 2019 Accurize Market Research sales@accurizemarketresearch.com

  5. Market Segmentation • By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). • North America is further bifurcated in the U.S., and the Rest of North America whereas Europe consists of the UK, Germany, France, Italy, and the Rest of Europe. • Asia-Pacific is segmented into Australia, Japan, and the Rest of Asia-Pacific while RoW is bifurcated into South America, the Middle East, and Africa. Copyright © 2019 Accurize Market Research sales@accurizemarketresearch.com

  6. Market Segmentation • “Pay-As-You-Drive (PAYD) accounted for the leading market share in the type segment", says Accurize • By type segment, Pay as you drive (PAYD) leads the type segment with a 61.4% share in the year 2017, due to its cost-efficiency. Whereas, manage how you drive (MHYD) is the fastest growing segment. The growth is mainly attributed to driving freedom and flexibility to the consumers. Moreover, by technology segment, black box accounted for the largest market share in 2017, accounting for about two-thirds of the entire market share, driven by its highly secure and reliable system, and capabilities such as precise and timely data collection. Further, a smart phone is the fastest-growing segment, owing to its convenient and accessible features. Copyright © 2019 Accurize Market Research sales@accurizemarketresearch.com

  7. Market Segmentation • “Europe dominated the global market with the highest market share over the forecast period", says Accurize • In 2017, Europe generated the highest revenue accounting for 42.8% of the entire market share. The high growth is mainly seen, owing to growing awareness regarding the driver’s safety and augmented penetration of the services among the youth population. • European countries show an improved penetration of usage-based insurance services. Italy dominated the European UBI market accounting for around two-thirds of the market share in 2017. However, Germany is anticipated to grow at the fastest CAGR of 39.1% throughout the forecast period 2017 – 2025. The market would be mainly driven by the growing awareness among consumers regarding the benefits of such insurance services. Copyright © 2019 Accurize Market Research sales@accurizemarketresearch.com

  8. Top players in the market The key market players include • Allstate Corporation, • AXA S.A., • MapfreS.A., • Progressive Corporation, • Desjardins Insurance, • Aviva plc., • Allianz SE, • Insure The Box Ltd., • Metromile, • GeneraliGroup among others. Copyright © 2019 Accurize Market Research sales@accurizemarketresearch.com

  9. Contact Us: Accurize Market Research Pvt. Ltd. PUNE OFFICE: 306, ZEN BUSINESS CENTER, WAKAD, NEAR BHUMKAR CHOWK, MUMBAI BANGALORE HIGHWAY, PUNE-411057 Email: help@accurizemarketresearch.com Contact No: +1-339-368-6383 Copyright © 2019 Accurize Market Research sales@accurizemarketresearch.com

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