Automotive Usage-based Insurance Market by Pricing Scheme, Application, and Geography - Forecast and Analysis 2021-2025
- Published: Mar 2021
- Pages: 120
- SKU: IRTNTR40064
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The automotive usage-based insurance (UBI) market has the potential to grow by 46.50 million units during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 7.18%.
This automotive usage-based insurance market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growth in smartphone-enabled programs and their usage is notably driving the automotive usage-based insurance market growth, although factors such as high installation cost of telematics devices may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the automotive usage-based insurance industry get your FREE report sample now.
This report provides extensive insights on segmentation by pricing scheme (PHYD, PAYD, and MHYD), application (embedded UBI and app-based UBI), and geography (Europe, North America, APAC, MEA, and South America). The automotive usage-based insurance market report also offers information on several market vendors, including Allianz Partners SAS, AXA Group, Howden Broking Group Plc, Liberty Mutual Holding Co. Inc., OCTO Group Spa, Sierra Wireless Inc., The Progressive Corp., Trak Global Group, Verizon Communications Inc., and Vodafone Group Plc among others.
What will the Automotive Usage-Based Insurance Market Size be in 2021?
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Automotive Usage-Based Insurance Market: Key Drivers and Trends
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This automotive usage-based insurance market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on market drivers, trends, and challenges, which will help companies evaluate and develop growth strategies.
Who are the Major Automotive Usage-Based Insurance Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Allianz Partners SAS
- AXA Group
- Howden Broking Group Plc
- Liberty Mutual Holding Co. Inc.
- OCTO Group Spa
- Sierra Wireless Inc.
- The Progressive Corp.
- Trak Global Group
- Verizon Communications Inc.
- Vodafone Group Plc
The automotive UBI market is fragmented and the vendors are deploying growth strategies such as adopting UBI solutions for optimized premium pricing to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Download a free sample of the automotive usage-based insurance market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Which are the Key Regions for Automotive Usage-Based Insurance Market?
For more insights on the market share of various regions Request for a FREE sample now!
44% of the market’s growth will originate from Europe during the forecast period. Germany, the UK, and France are the key markets for automotive usage-based insurance in Europe. However, market growth in Europe will be slower than the growth of the market in other regions.
The high demand for luxury electric cars will facilitate the automotive UBI market growth in Europe over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.
What are the Revenue-generating Pricing Scheme Segments in the Automotive Usage-Based Insurance Market?
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The automotive usage-based insurance market share growth by the PHYD segment will be significant during the forecast period. Continuous growth in vehicle ownership, growth in customer demand for vehicles, advancement in technology, and increased availability of data are key factors that will propel the PHYD segment.
Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive usage-based insurance market size.
What are the Key Factors Covered in this Automotive Usage-Based Insurance Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive automotive usage-based insurance market growth during the next five years
- Precise estimation of the automotive UBI market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the automotive usage-based insurance industry across Europe, North America, APAC, MEA, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of automotive usage-based insurance market vendors
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Automotive Usage-Based Insurance Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7% |
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Market growth 2021-2025 |
46.50 mn units |
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Market structure |
Fragmented |
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YoY growth (%) |
6.46 |
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Regional analysis |
Europe, North America, APAC, MEA, and South America |
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Performing market contribution |
Europe at 44% |
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Key consumer countries |
Germany, UK, France, US, and Canada |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
Allianz Partners SAS, AXA Group, Howden Broking Group Plc, Liberty Mutual Holding Co. Inc., OCTO Group Spa, Sierra Wireless Inc., The Progressive Corp., Trak Global Group, Verizon Communications Inc., and Vodafone Group Plc |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Executive Summary
Market Landscape
- Market ecosystem
- Market characteristic
- Value Chain Analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Pricing scheme
- Market segments
- Comparison by Pricing scheme
- PHYD - Market size and forecast 2020-2025
- PAYD - Market size and forecast 2020-2025
- MHYD - Market size and forecast 2020-2025
- Market opportunity by Pricing scheme
Market segmentation by application
- Embedded UBI
- App-based UBI
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- Europe - Market size and forecast 2020-2025
- North America - Market size and forecast 2020-2025
- APAC - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
- Industry risks
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Allianz Partners SAS
- AXA Group
- Howden Broking Group Plc
- Liberty Mutual Holding Co. Inc.
- OCTO Group Spa
- Sierra Wireless Inc.
- The Progressive Corp.
- Trak Global Group
- Verizon Communications Inc.
- Vodafone Group Plc
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
Frequently Asked Questions?
- Germany
- UK
- France
- US
- Canada
- Flexible pricing schemes
- Shared data plans to reduce the number of data subscriptions per user
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