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Global Usage Based Insurance Market Business Growth Hacking Strategies By 2026 – Key Players are Allstate, Allstate Canada, Desjardins, Generali, MAPFRE, Metromile, Aviva, Admiral Group Plc, Allianz, AXA, Progressive Insurance, Octo Telematics

This report highlights the current market synopsis of the Usage-Based Insurance Market along with future anticipated market growth. It also highlights various drivers, restraints, and opportunities expected to influence the market during the forecast period. In addition, information related to key players operating in the market along with their market share and key strategies adopted to maintain their leading position is also provided in this report. The Usage-Based Insurance Market study provides comprehensive assessment of key stakeholder (With Detailed Porter’s Five Forces Analysis), imperatives for succeeding in the business and five-year annual trend analysis that highlights market size, volume and share.

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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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

Important attributes of the report:

  • Competitors –In this section, various Usage-Based Insurance industry leading players are studied with respect to their company profile, product portfolio, capacity, price, cost, and revenue.
  • The 360-degree Usage-Based Insurance overview based on a global and regional level
  • Sales and Revenue Analysis – Both, sales and revenue are studied for the different regions of the Usage-Based Insurance Another major aspect, price, which plays an important part in the revenue generation, is also assessed in this section for the various regions.
  • Market share, value, volume, and production capacity is analyzed on global, regional and country level
  • Market Outlook: The report also sheds light on some of the major factors, including R&D, new product launches, M&A, agreements, partnerships, joint ventures, collaborations, and growth of the key industry participants, on a regional and global basis.
  • A complete and useful guide for new market aspirants
  • Strategic suggestion and proposals for the new comers those are willing to enter the market.
  • Forecast information will drive strategic, innovative and profitable business plans
    SWOT analysis of players will pave the way for growth opportunities, risk analysis, investment feasibility and recommendations
  • Production Analysis – Production of the Usage-Based Insurance is analyzed with respect to different regions, types and applications. Here, price analysis of various Usage-Based Insurance Market key players is also covered.
  • Supply and Consumption –In continuation of sales, this section studies supply and consumption for the Usage-Based Insurance This part also sheds light on the gap between supply and consumption. Import and export figures are also given in this part.
  • Other analyses – Apart from the information, trade and distribution analysis for the Usage-Based Insurance (Market, contact information of major manufacturers, suppliers and key consumers are also given.

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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COMPANIES COVERED

  • 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

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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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