Usage based Insurance Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027

Usage based Insurance Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027

  • April 2019 •
  • 300 pages •
  • Report ID: 5791897 •
  • Format: PDF
Usage based Insurance Market - Overview

This report analyzes and forecasts the market for usage-based insurance at the global and regional level.The market has been forecasted based on volume (thousand units) and value (US$ Mn) from 2019 to 2027.

The study includes drivers and restraints of the global usage-based insurance market.It also covers the impact of these drivers and restraints on the demand for Usage-based Insurance services during the forecast period.

The report also highlights opportunities and future scope in the market at the global and regional level.

The report comprises a detailed value chain analysis, which provides a comprehensive view of the global usage-based insurance market.The Porter’s Five Forces model for the market has also been included to help understand the competitive landscape in the market.

The study encompasses market attractiveness analysis, wherein the service is benchmarked based on market size, growth rate, and general market share.

The study provides a decisive view of the global usage-based insurance market by segmenting it in terms of policy type, device type, vehicle type, and region.These segments have been analyzed based on present and future trends.

Regional segmentation includes the current and forecast demand for Usage-based Insurance in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers the demand for individual segments in all major countries across all the regions.

The study includes profiles of major companies operating in the global usage-based insurance market. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.

Rising competition among insurance companies to quote a competitive price and to effectively underwrite the insurance is driving the usage-based insurance market.Real-time tracking of the vehicle helps asses the risk more accurately and hence, insurance companies can determine indemnity and maintain actuarial reserve.

Rising consumer interest in connected vehicles has fueled the adoption of usage-based insurance services.

The report provides the estimated cumulative market size of usage-based insurance for 2018 and forecast for the next nine years.The global market size has been provided in terms of volume and value.

Market numbers have been estimated based on policy type, device type, vehicle type, and regional segments. Market size and forecast for each policy type, device type, and vehicle have been provided in terms of global and regional/country markets.

In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders.Primary research represents the bulk of research efforts, supplemented by extensive secondary research.

We reviewed key player’s product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding.Secondary research also includes a search of recent trade, technical writing, internet sources, and statistics data from government websites, trade associations, and agencies.

This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.

Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, National government documents, statistical databases, and market reports, OICA, JAMA, Factiva, etc.

Primary research involves e-mail interactions, telephonic interviews, LinkedIn interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies.We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis.

Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc.These help validate and strengthen secondary research findings.

These also help develop the analysis team’s expertise and market understanding.

The global usage-based insurance market has been segmented as follows:

Global Usage-based Insurance Market, by Policy Type
Pay-How-You-Drive (PHYD)
Pay-As-You-Drive (PAYD)
Manage-How-You-Drive (MHYD)

Global Usage-based Insurance Market, by Device Type
Black Box
OBD Dongle
Smartphone
Others

Global Usage-based Insurance Market, by Vehicle Type
Passenger Vehicle
Commercial Vehicle

Global Usage-based Insurance Market, by Region/ by Country/ Sub-region
North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Rest of Europe
Asia Pacific
China
India
Japan
ANZ
Rest of Asia Pacific
Middle East & Africa (MEA)
GCC
South Africa
Rest of MEA
Latin America
Brazil
Mexico
Rest of Latin America