+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

PRINTER FRIENDLY

Automotive Usage Based Insurance Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Technology Fitted; and Geography

  • ID: 4756882
  • Report
  • August 2020
  • Region: Global
  • 156 pages
  • The Insight Partners
UP TO OFF
until Jan 15th 2021

Enquire about COVID-19 updates for this product.

Enquire Now

FEATURED COMPANIES

  • Allianz SE
  • Allstate Insurance
  • AXA SA
  • Ingenie Service Ltd.
  • Metromile
  • Octo Telematics
  • MORE
Dongles Segment is Expected to Dominate the Automotive Usage Based Insurance Market in 2027

According to the latest market study Automotive Usage Based Insurance Market to 2027 - COVID-19 Impact and Global Analysis by Technology Fitted (Smartphones, Black Box, Dongles, and Others); and Policy Type (Pay-As-You-Drive and Pay-How-You-Drive) - Global Analysis and Forecast, the market is estimated to reach US$ 124.02 billion by 2027 from US$ US$ 19.64 billion in 2019. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.

At present, the insurance providers are following either installation of hardware devices, where devices are equipped to the policyholders' cars or the low-priced smartphone app route. Both of these methods of tracking information have their advantages and disadvantages; however, they are not commonly exclusive. An insurance provider might want a customer to download an app and later shift to a plug-in device. To stay competitive in the market, the insurance providers need to build internal capability, i.e. significant investment and efforts are required to establish liaison with telematics service providers. Before selecting an appropriate method to track information, an insurance provider needs to make several considerations. Most of the insurance providers use on-board diagnostics systems, i.e. OBDII (black boxes or dongles). However, they also offer smartphone apps that are easier to access and are economical. Comparatively very few of the insurance providers offer both the hardware and smartphone app.

Based on technology fitted, the global automotive usage based insurance market is segmented into smartphones, black box, dongles, and others. The dongles segment is expected to dominate the market by 2027. Dongles are a type of telematics hardware, commonly known as on-board devices (OBD). They are provided to customers either by the insurance company or third-party providers. Generally, they are owned by the insurance companies themselves. Dongles are plugged into vehicle's on-board computer to capture real-time data around particular events. Dongles are capable of measuring almost all vehicle mechanisms from acceleration and braking pattern to speeding and crashes.

Due to the outbreak of COVID-19, the count of car trips has dropped drastically across the world. Therefore, the drivers and the vehicle owners are seeking for different criteria for making payment of insurance instead of making a flat rate, as the cars have been parked idle in the garages since last few months. Due to reduced trip of vehicles, the usage-based insurance is expected to be adopted highly. Thus, the companies are carefully monitoring the driving behavior because of restrictions imposed to curb the spread of COVID-19. To encourage safe driving in this pandemic situation, the need to measure the user's driving behavior is a must. This pandemic situation would assist in stimulating the use of telematics more in the auto insurance industry.

The report segments the Global Automotive Usage Based Insurance Market as follows:

Global Automotive Usage Based Insurance Market - By Technology Fitted
  • Smartphones
  • Black Box
  • Dongles
  • Others
Global Automotive Usage Based Insurance Market - By Policy Type
  • Pay-As-You-Drive (PAYD)
  • Pay-How-You-Drive (PHYD)
Global Automotive Usage Based Insurance Market - By Geography
  • North America
  • US
  • Canada
  • Mexico
  • Europe
  • Germany
  • Italy
  • UK
  • Rest of Europe
  • Asia Pacific (APAC)
  • Australia
  • China
  • Singapore
  • Rest of Asia Pacific
  • Rest of World (RoW)
  • South Africa
  • Brazil
  • Rest of World
Reasons to Buy:
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global automotive usage based insurance market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the global automotive usage based insurance market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Allianz SE
  • Allstate Insurance
  • AXA SA
  • Ingenie Service Ltd.
  • Metromile
  • Octo Telematics
  • MORE
1. Introduction
1.1 Scope of the Study
1.2 Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Automotive Usage Based Insurance Market - By Technology Fitted
1.3.2 Global Automotive Usage Based Insurance Market - By Policy Type
1.3.3 Global Automotive Usage Based Insurance Market - By Geography

2. Key Takeaways

3. Research Methodology
3.1.1 Coverage
3.1.2 Secondary Research
3.1.3 Primary Research

4. Automotive Usage Based Insurance Market Landscape
4.1 Market Overview
4.2 Ecosystem Analysis
4.3 PEST Analysis
4.3.1 North America - PEST Analysis
4.3.2 Europe - PEST Analysis
4.3.3 Asia-Pacific - PEST Analysis
4.3.4 Rest of World (RoW) - PEST Analysis

5. Automotive Usage Based Insurance Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Significant Adoption of Mobility-as-a-Service (MaaS)
5.1.2 Wide Variety of Insurance Premiums is Stimulating the Demand
5.2 Key Market Restraints
5.2.1 Lack of Telematics Insurance Awareness in Emerging Countries
5.3 Key Market Opportunities
5.3.1 Increasing Partnerships among Telematics Companies and Insurance Companies
5.4 Future Trends
5.4.1 Advanced Telematics Technologies to Accentuate the Demand of UBI
5.5 Impact Analysis Of Drivers and Restraints

6. Automotive Usage Based Insurance - Global Market Analysis
6.1 Global Automotive Usage Based Insurance Market Overview
6.2 Global Automotive Usage Based Insurance Market Forecast and Analysis
6.3 Market Positioning - Global Top 5 Players

7. Automotive Usage Based Insurance Market Revenue and Forecasts To 2027 -Technology Fitted
7.1 Overview
7.2 Technology Fitted Market Forecasts and Analysis
7.3 Smartphones
7.3.1 Overview
7.3.2 Smartphones Market forecasts and analysis
7.4 Black Box
7.4.1 Overview
7.4.2 Black Box Market Forecasts And Analysis
7.5 Dongles
7.5.1 Overview
7.5.2 Dongles Market Forecasts And Analysis
7.6 Others
7.6.1 Overview
7.6.2 Others Market Forecasts And Analysis

8. Automotive Usage Based Insurance Market Revenue and Forecasts To 2027 - By Policy Type
8.1 Overview
8.2 Policy Type Market Forecasts and Analysis
8.3 PAY-As-You-Drive (PAYD)
8.3.1 Overview
8.3.2 PAYD Market Forecasts And Analysis
8.4 Pay-How-You-Drive (PHYD)
8.4.1 Overview
8.4.2 PHYD Market Forecasts And Analysis

9. Global Automotive Usage Based Insurance Market- Geographical Analysis
9.1 Overview
9.2 North America Automotive Usage Based Insurance Market Revenue and Forecasts To 2027
9.2.1 Overview
9.2.2 North America Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.2.3 North America Automotive Usage Based Insurance Market Breakdown, by Technology Fitted
9.2.4 North America Automotive Usage Based Insurance Market Breakdown, by Policy Type
9.2.5 North America Automotive Usage Based Insurance Market Breakdown by Key Countries
9.2.5.1 US Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.2.5.1.1 US Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Technology Fitted
9.2.5.1.2 US Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Policy Type
9.2.5.2 Canada Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.2.5.2.1 Canada Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Technology Fitted
9.2.5.2.2 Canada Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Policy Type
9.2.5.3 Mexico Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.2.5.3.1 Mexico Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Technology Fitted
9.2.5.3.2 Mexico Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Policy Type
9.3 Europe Automotive Usage Based Insurance Market Revenue and Forecasts To 2027
9.3.1 Overview
9.3.2 Europe Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.3.3 Europe Automotive Usage Based Insurance Market Breakdown, by Technology Fitted
9.3.4 Europe Automotive Usage Based Insurance Market Breakdown, by Policy Type
9.3.5 Europe Automotive Usage Based Insurance Market Breakdown by Key Countries
9.3.5.1 UK Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.3.5.1.1 UK Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Technology Fitted
9.3.5.1.2 UK Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Policy Type
9.3.5.2 Germany Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.3.5.2.1 Germany Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Technology Fitted
9.3.5.2.2 Germany Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Policy Type
9.3.5.3 Italy Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.3.5.3.1 Italy Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Technology Fitted
9.3.5.3.2 Italy Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Policy Type
9.3.5.4 Rest of Europe Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.3.5.4.1 Rest of Europe Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Technology Fitted
9.3.5.4.2 Rest of Europe Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Policy Type
9.4 ASIA PACIFIC (APAC) Automotive Usage Based Insurance Market Revenue and Forecasts To 2027
9.4.1 Overview
9.4.2 Asia-Pacific Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.4.3 Asia-Pacific Automotive Usage Based Insurance market Breakdown, by Technology Fitted
9.4.4 Asia-Pacific Automotive Usage Based Insurance Market Breakdown, by Policy Type
9.4.5 Asia-Pacific Automotive Usage Based Insurance Market Breakdown by Key Countries
9.4.5.1 Australia Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.4.5.1.1 Australia Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Technology Fitted
9.4.5.1.2 Australia Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Policy Type
9.4.5.2 China Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.4.5.2.1 China Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Technology Fitted
9.4.5.2.2 China Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Policy Type
9.4.5.3 Singapore Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.4.5.3.1 Singapore Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Technology Fitted
9.4.5.3.2 Singapore Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Policy Type
9.4.5.4 Rest of APAC Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.4.5.4.1 Rest of APAC Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Technology Fitted
9.4.5.4.2 Rest of APAC Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Policy Type
9.5 Rest of World (ROW) Automotive Usage Based Insurance Market Revenue and Forecasts To 2027
9.5.1 Overview
9.5.2 Rest of World (ROW) Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.5.3 Rest of World (RoW) Automotive Usage Based Insurance Market Breakdown, by Technology Fitted
9.5.4 Rest of World (RoW) Automotive Usage Based Insurance Market Breakdown, by Policy Type
9.5.5 Rest of world (ROW) Automotive Usage Based Insurance Market Breakdown by Key Countries
9.5.5.1 South Africa Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.5.5.1.1 South Africa Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Technology Fitted
9.5.5.1.2 South Africa Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Policy Type
9.5.5.2 Brazil Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.5.5.2.1 Brazil Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Technology Fitted
9.5.5.2.2 Brazil Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Policy Type
9.5.5.3 Rest of World Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.5.5.3.1 Rest of World Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Technology Fitted
9.5.5.3.2 Rest of World Automotive Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Policy Type

10. Impact of COVID-19 Pandemic on Automotive Usage Based Insurance Market
10.1 Overview
10.2 North America: Impact Assessment of COVID-19 Pandemic
10.3 Europe: Impact Assessment of COVID-19 Pandemic
10.4 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
10.5 Rest of World: Impact Assessment of COVID-19 Pandemic

11. Industry Landscape
11.1 Market Initiative
11.2 Merger and Acquisition
11.3 New Development

12. Company Profiles
12.1 Allstate Insurance Company
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 AXA SA
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Allianz SE
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Metromile, Inc.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Ingenie Services Limited
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Liberty Mutual Insurance Company
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Octo Telematics S.p.A
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Sierra Wireless, Inc.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 TomTom Telematics BV
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Vodafone Automotive
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments

13. Appendix
13.1 About the Publisher
13.2 Glossary of Terms
Note: Product cover images may vary from those shown

Loading
LOADING...

  • Vodafone Automotive
  • Liberty Mutual Insurance Company
  • Allianz SE
  • TomTom Telematics
  • Allstate Insurance
  • Octo Telematics
  • Metromile
  • Siera Wireless
  • Ingenie Service Ltd.
  • AXA SA
Note: Product cover images may vary from those shown
Adroll
adroll