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Usage-based Insurance: Global Strategic Business Report

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    Report

  • 158 Pages
  • March 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 4806386

Global Usage-based Insurance Market to Reach $145 Billion by 2030

The global market for Usage-based Insurance estimated at US$24.1 Billion in the year 2022, is projected to reach a revised size of US$145 Billion by 2030, growing at a CAGR of 25.2% over the analysis period 2022-2030. Pay-As-You-Drive (PAYD), one of the segments analyzed in the report, is projected to record 27.6% CAGR and reach US$75.7 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Pay-How-You-Drive (PHYD) segment is readjusted to a revised 24.5% CAGR for the next 8-year period.

The U.S. Market is Estimated at $7.2 Billion, While China is Forecast to Grow at 23.8% CAGR

The Usage-based Insurance market in the U.S. is estimated at US$7.2 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$23.8 Billion by the year 2030 trailing a CAGR of 23.8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 23% and 21.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 17.7% CAGR.

Select Competitors (Total 11 Featured) -

  • Allianz SE
  • Allstate Insurance Company
  • Cambridge Mobile Telematics
  • Inseego Corporation
  • insurethebox
  • Intelligent Mechatronic Systems, Inc.
  • Liberty Mutual Insurance
  • Mapfre
  • Modus Group
  • Octo Telematics Ltd.
  • Progressive Corporation
  • Sierra Wireless, Inc.
  • The Floow Ltd.
  • TomTom International BV
  • TrueMotion
  • Unipolsai Assicurazioni S.P.A.
  • Verizon Enterprise Solutions
  • Vodafone Group PLC

What's New?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and the publisher's Research Platform
  • Complimentary updates for one year

Frequently Asked Questions about the Global Market for Usage-based Insurance

What is the estimated value of the Global Market for Usage-based Insurance?

The Global Market for Usage-based Insurance was estimated to be valued at $24.1 Billion in 2022.

What is the growth rate of the Global Market for Usage-based Insurance?

The growth rate of the Global Market for Usage-based Insurance is 25.1%, with an estimated value of $145 Billion by 2030.

What is the forecasted size of the Global Market for Usage-based Insurance?

The Global Market for Usage-based Insurance is estimated to be worth $145 Billion by 2030.

Who are the key companies in the Global Market for Usage-based Insurance?

Key companies in the Global Market for Usage-based Insurance include Allianz SE, Allstate Insurance Company, Cambridge Mobile Telematics, Inseego Corporation, insurethebox, Intelligent Mechatronic Systems, Inc., Liberty Mutual Insurance, Mapfre, Modus Group and Octo Telematics Ltd..

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Usage-based Insurance - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Usage-based Insurance by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 2: World 8-Year Perspective for Usage-based Insurance by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2023 & 2030
  • Table 3: World Recent Past, Current & Future Analysis for OBD-II by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 4: World 8-Year Perspective for OBD-II by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
  • Table 5: World Recent Past, Current & Future Analysis for Black Box by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 6: World 8-Year Perspective for Black Box by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
  • Table 7: World Recent Past, Current & Future Analysis for Other Technologies by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 8: World 8-Year Perspective for Other Technologies by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
  • Table 9: World Usage-based Insurance Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
  • Table 10: World Recent Past, Current & Future Analysis for Pay-As-You-Drive (PAYD) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 11: World 8-Year Perspective for Pay-As-You-Drive (PAYD) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
  • Table 12: World Recent Past, Current & Future Analysis for Pay-How-You-Drive (PHYD) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 13: World 8-Year Perspective for Pay-How-You-Drive (PHYD) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
  • Table 14: World Recent Past, Current & Future Analysis for Manage-How-You-Drive (MHYD) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 15: World 8-Year Perspective for Manage-How-You-Drive (MHYD) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
  • Table 16: World Recent Past, Current & Future Analysis for Smartphones by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 17: World 8-Year Perspective for Smartphones by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
  • Table 18: World Recent Past, Current & Future Analysis for Embedded Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 19: World 8-Year Perspective for Embedded Systems by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
III. MARKET ANALYSIS
  • UNITED STATES
  • Usage-based Insurance Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
  • Table 20: USA Recent Past, Current & Future Analysis for Usage-based Insurance by Package - Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD) - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 21: USA 8-Year Perspective for Usage-based Insurance by Package - Percentage Breakdown of Value Sales for Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD) for the Years 2023 & 2030
  • Table 22: USA Recent Past, Current & Future Analysis for Usage-based Insurance by Technology - Black Box, OBD-II, Smartphones, Embedded Systems and Other Technologies - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 23: USA 8-Year Perspective for Usage-based Insurance by Technology - Percentage Breakdown of Value Sales for Black Box, OBD-II, Smartphones, Embedded Systems and Other Technologies for the Years 2023 & 2030
  • CANADA
  • Table 24: Canada Recent Past, Current & Future Analysis for Usage-based Insurance by Package - Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD) - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 25: Canada 8-Year Perspective for Usage-based Insurance by Package - Percentage Breakdown of Value Sales for Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD) for the Years 2023 & 2030
  • Table 26: Canada Recent Past, Current & Future Analysis for Usage-based Insurance by Technology - Black Box, OBD-II, Smartphones, Embedded Systems and Other Technologies - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 27: Canada 8-Year Perspective for Usage-based Insurance by Technology - Percentage Breakdown of Value Sales for Black Box, OBD-II, Smartphones, Embedded Systems and Other Technologies for the Years 2023 & 2030
  • JAPAN
  • Usage-based Insurance Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2023 (E)
  • Table 28: Japan Recent Past, Current & Future Analysis for Usage-based Insurance by Package - Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD) - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 29: Japan 8-Year Perspective for Usage-based Insurance by Package - Percentage Breakdown of Value Sales for Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD) for the Years 2023 & 2030
  • Table 30: Japan Recent Past, Current & Future Analysis for Usage-based Insurance by Technology - Black Box, OBD-II, Smartphones, Embedded Systems and Other Technologies - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 31: Japan 8-Year Perspective for Usage-based Insurance by Technology - Percentage Breakdown of Value Sales for Black Box, OBD-II, Smartphones, Embedded Systems and Other Technologies for the Years 2023 & 2030
  • CHINA
  • Usage-based Insurance Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
  • Table 32: China Recent Past, Current & Future Analysis for Usage-based Insurance by Package - Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD) - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 33: China 8-Year Perspective for Usage-based Insurance by Package - Percentage Breakdown of Value Sales for Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD) for the Years 2023 & 2030
  • Table 34: China Recent Past, Current & Future Analysis for Usage-based Insurance by Technology - Black Box, OBD-II, Smartphones, Embedded Systems and Other Technologies - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 35: China 8-Year Perspective for Usage-based Insurance by Technology - Percentage Breakdown of Value Sales for Black Box, OBD-II, Smartphones, Embedded Systems and Other Technologies for the Years 2023 & 2030
  • EUROPE
  • Usage-based Insurance Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
  • Table 36: Europe Recent Past, Current & Future Analysis for Usage-based Insurance by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 37: Europe 8-Year Perspective for Usage-based Insurance by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2023 & 2030
  • Table 38: Europe Recent Past, Current & Future Analysis for Usage-based Insurance by Package - Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD) - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 39: Europe 8-Year Perspective for Usage-based Insurance by Package - Percentage Breakdown of Value Sales for Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD) for the Years 2023 & 2030
  • Table 40: Europe Recent Past, Current & Future Analysis for Usage-based Insurance by Technology - Black Box, OBD-II, Smartphones, Embedded Systems and Other Technologies - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 41: Europe 8-Year Perspective for Usage-based Insurance by Technology - Percentage Breakdown of Value Sales for Black Box, OBD-II, Smartphones, Embedded Systems and Other Technologies for the Years 2023 & 2030
  • FRANCE
  • Usage-based Insurance Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2023 (E)
  • Table 42: France Recent Past, Current & Future Analysis for Usage-based Insurance by Package - Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD) - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 43: France 8-Year Perspective for Usage-based Insurance by Package - Percentage Breakdown of Value Sales for Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD) for the Years 2023 & 2030
  • Table 44: France Recent Past, Current & Future Analysis for Usage-based Insurance by Technology - Black Box, OBD-II, Smartphones, Embedded Systems and Other Technologies - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 45: France 8-Year Perspective for Usage-based Insurance by Technology - Percentage Breakdown of Value Sales for Black Box, OBD-II, Smartphones, Embedded Systems and Other Technologies for the Years 2023 & 2030
  • GERMANY
  • Usage-based Insurance Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2023 (E)
  • Table 46: Germany Recent Past, Current & Future Analysis for Usage-based Insurance by Package - Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD) - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 47: Germany 8-Year Perspective for Usage-based Insurance by Package - Percentage Breakdown of Value Sales for Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD) for the Years 2023 & 2030
  • Table 48: Germany Recent Past, Current & Future Analysis for Usage-based Insurance by Technology - Black Box, OBD-II, Smartphones, Embedded Systems and Other Technologies - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 49: Germany 8-Year Perspective for Usage-based Insurance by Technology - Percentage Breakdown of Value Sales for Black Box, OBD-II, Smartphones, Embedded Systems and Other Technologies for the Years 2023 & 2030
  • ITALY
  • Table 50: Italy Recent Past, Current & Future Analysis for Usage-based Insurance by Package - Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD) - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 51: Italy 8-Year Perspective for Usage-based Insurance by Package - Percentage Breakdown of Value Sales for Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD) for the Years 2023 & 2030
  • Table 52: Italy Recent Past, Current & Future Analysis for Usage-based Insurance by Technology - Black Box, OBD-II, Smartphones, Embedded Systems and Other Technologies - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 53: Italy 8-Year Perspective for Usage-based Insurance by Technology - Percentage Breakdown of Value Sales for Black Box, OBD-II, Smartphones, Embedded Systems and Other Technologies for the Years 2023 & 2030
  • UNITED KINGDOM
  • Usage-based Insurance Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2023 (E)
  • Table 54: UK Recent Past, Current & Future Analysis for Usage-based Insurance by Package - Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD) - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 55: UK 8-Year Perspective for Usage-based Insurance by Package - Percentage Breakdown of Value Sales for Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD) for the Years 2023 & 2030
  • Table 56: UK Recent Past, Current & Future Analysis for Usage-based Insurance by Technology - Black Box, OBD-II, Smartphones, Embedded Systems and Other Technologies - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 57: UK 8-Year Perspective for Usage-based Insurance by Technology - Percentage Breakdown of Value Sales for Black Box, OBD-II, Smartphones, Embedded Systems and Other Technologies for the Years 2023 & 2030
  • REST OF EUROPE
  • Table 58: Rest of Europe Recent Past, Current & Future Analysis for Usage-based Insurance by Package - Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD) - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 59: Rest of Europe 8-Year Perspective for Usage-based Insurance by Package - Percentage Breakdown of Value Sales for Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD) for the Years 2023 & 2030
  • Table 60: Rest of Europe Recent Past, Current & Future Analysis for Usage-based Insurance by Technology - Black Box, OBD-II, Smartphones, Embedded Systems and Other Technologies - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 61: Rest of Europe 8-Year Perspective for Usage-based Insurance by Technology - Percentage Breakdown of Value Sales for Black Box, OBD-II, Smartphones, Embedded Systems and Other Technologies for the Years 2023 & 2030
  • ASIA-PACIFIC
  • Usage-based Insurance Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
  • Table 62: Asia-Pacific Recent Past, Current & Future Analysis for Usage-based Insurance by Package - Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD) - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 63: Asia-Pacific 8-Year Perspective for Usage-based Insurance by Package - Percentage Breakdown of Value Sales for Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD) for the Years 2023 & 2030
  • Table 64: Asia-Pacific Recent Past, Current & Future Analysis for Usage-based Insurance by Technology - Black Box, OBD-II, Smartphones, Embedded Systems and Other Technologies - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 65: Asia-Pacific 8-Year Perspective for Usage-based Insurance by Technology - Percentage Breakdown of Value Sales for Black Box, OBD-II, Smartphones, Embedded Systems and Other Technologies for the Years 2023 & 2030
  • REST OF WORLD
  • Table 66: Rest of World Recent Past, Current & Future Analysis for Usage-based Insurance by Package - Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD) - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 67: Rest of World 8-Year Perspective for Usage-based Insurance by Package - Percentage Breakdown of Value Sales for Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD) for the Years 2023 & 2030
  • Table 68: Rest of World Recent Past, Current & Future Analysis for Usage-based Insurance by Technology - Black Box, OBD-II, Smartphones, Embedded Systems and Other Technologies - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 69: Rest of World 8-Year Perspective for Usage-based Insurance by Technology - Percentage Breakdown of Value Sales for Black Box, OBD-II, Smartphones, Embedded Systems and Other Technologies for the Years 2023 & 2030
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Allianz SE
  • Allstate Insurance Company
  • Cambridge Mobile Telematics
  • Inseego Corporation
  • insurethebox
  • Intelligent Mechatronic Systems, Inc.
  • Liberty Mutual Insurance
  • Mapfre
  • Modus Group
  • Octo Telematics Ltd.
  • Progressive Corporation
  • Sierra Wireless, Inc.
  • The Floow Ltd.
  • TomTom International BV
  • TrueMotion
  • Unipolsai Assicurazioni S.P.A.
  • Verizon Enterprise Solutions
  • Vodafone Group PLC