+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

Usage-Based Insurance Market for ICE & Electric Vehicle by Package (PAYD, PHYD, MHYD), Technology (OBD-II, Black box, Smartphone, Embedded), Vehicle Age (New, Old), Device Offering (BYOD, Company Provided) and Region - Global Forecast to 2026

  • ID: 5350869
  • Report
  • June 2021
  • Region: Global
  • 192 Pages
  • Markets and Markets

FEATURED COMPANIES

  • Allianz
  • Insure the Box Limited
  • Metromile Inc.
  • Octo Group S.P.A
  • The Floow
  • Verizon
  • MORE

The usage-based insurance market is projected to reach USD 66.8 billion by 2026 from an estimated USD 19.6 billion in 2021, at a CAGR of 27.7% during the forecast period. All major players such as UnipolSai Assicurazioni S.p.A, Progressive Casualty Insurance Company, Allstate Insurance Company, State Farm Automobile Mutual Insurance Company, Liberty Mutual Insurance Company, and other UBI technologies providers are developing solutions and technologies that can accurately analyze vehicle data and driver behavior. The companies aim to improve their UBI offerings by accurate determination of premiums.

The increasing adoption of telematics and advancements in safety technology have helped reduce claims. The European Union has mandated e-assistance systems in case of an accident. The eCall system, mandatory for all new EU vehicles since March 2018, speeds up emergency-response times by 40–50%. Also, Russia mandated a similar system for new cars at the end of 2017, while Mexico has mandated radio-frequency-identification (RFID) tags to bolster vehicle-antitheft systems. Many other countries, including China, Germany, Singapore, and South Africa, have voluntary systems that provide UBI incentives. However, the ambiguity over regulations and legislation and the lack of standardized systems can hinder market growth.

According to OICA, the sales of passenger car sales dropped from 63.7 million in 2019 to 53.6 million in 2020, witnessing a decline of 15.9% due to the pandemic. However, the decline in sales statistics did not impact the usage-based insurance market at all. For instance, according to Insurance Information Institute (III) and other secondary sources (insurancenewnet.com, blogs, articles, etc.), UBI got a boost during the COVID-19 pandemic. People were comfortable with having their insurance premiums based on the number of miles driven. Thus, in the coming years, the UBI market is likely to get a significant boost.

PAYD segment is expected to be the largest market by package type

Pay-As-You-Drive (PAYD) is estimated to be the largest segment during the forecast period. The key advantages of PAYD are ease of deployment, no complex algorithms for working, and cost-effectiveness for the insurer as well as consumers. Secondly, PAYD insurance encourages consumers to drive less and drive green. This reduces vehicle emissions and contributes to the worldwide efforts for environmental betterment. As people drive less, the accidental risks associated with drivers reduce. Additionally, PHYD and MHYD gather multiple data points about driver behavior, which the driver may not be comfortable sharing. This makes PAYD the preferred choice. In addition, PHYD and MHYD record rash driving or speeding that attract higher premiums. Hence, many users stick to PAYD insurance plans.  

Old Vehicle segment is expected to grow at the highest CAGR

The old vehicle segment is estimated to be the fastest-growing market during the forecast period. Initially, the adoption of usage-based insurance is likely to be less in on-road vehicles. As the penetration of UBI is expected to increase in new vehicles, the UBI market for on-road vehicles will also increase at a rapid pace. The major countries that are expected high penetration of UBI are the US, Italy, Germany, UK, and China. The UBI penetration in vehicle parc is expected to increase with a double growth rate in these countries.

The Asia Pacific market is expected to register the highest growth during the forecast period

The Asia Pacific usage-based insurance market is estimated to be the fastest-growing regional market. The growing adoption of IoT and telematics in China, Japan, South Korea, and India is expected to drive market growth in the region. Several companies plan to integrate telematics and IoT-enabled navigation in new vehicles to reduce carbon emissions and offer real-time emission data. For instance, Maruti Suzuki launched Suzuki Connect, ‘an advanced telematics solution for its customers in India. Similarly, the Ministry of Industry and Information Technology and the Standardization Administration of China together issued the Guidelines for Developing the Standards System of the Telematics Industry (Intelligent and Connected Vehicles). Such initiatives would boost the growth of vehicle telematics, which in turn would drive the growth of the usage-based insurance market during the forecast period.

Also, the rolling out of UBI programs in developing countries in the Asia Pacific is expected to drive its market. For instance, in 2020, Bharti AXA General Insurance launched its PAYD UBI motor insurance policies for private car owners under IRDAI's Sandbox project. For this, it has tied up with PolicyBazaar.com.

In-depth interviews were conducted with CEOs, vice-presidents, marketing directors, innovation and technology directors, and executives from various key organizations operating in this market.

  • By Company Type: UBI Providers - 40%, UBI Technology Providers - 50%, Others - 10%
  • By Designation: C Level - 19%, D Level - 71%, and Others - 10%
  • By Region: Asia Pacific - 20%, Europe - 30%, North America - 40%, Rest of the World - 10% 

The usage-based insurance market is led by globally established players such as UnipolSai Assicurazioni S.p.A (Italy), Progressive Casualty Insurance Company (US), Allstate Insurance Company (US), State Farm Automobile Mutual Insurance Company (US), and Liberty Mutual Insurance Company (US), AXA(France), Assicurazioni Generali (Italy), Allianz(Germany), Webfleet Solutions (The Netherlands), Verizon (US). The study includes an in-depth competitive analysis of these key players in the usage-based insurance market with their company profiles, MnM view of the top five companies, recent developments, and key market strategies. 

Research Coverage:

The usage-based insurance market is segmented on the basis of package type [Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD), and Manage-How-You-Drive (MHYD)], technology (OBD-II, smartphone, embedded system, black box, and other technologies), vehicle type (light-duty vehicle and heavy-duty vehicle), vehicle age (new vehicles and old vehicles), device offering type (bring your own device (BYOD) and company provided), electric vehicle type (BEV, PHEV, and FCEV), and Region (Asia Pacific, Europe, North America, and RoW). The study also includes an in-depth competitive analysis of the key players in the market along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies. 

Key Benefits of Buying the Report:

The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall usage-based insurance market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Allianz
  • Insure the Box Limited
  • Metromile Inc.
  • Octo Group S.P.A
  • The Floow
  • Verizon
  • MORE

1 Introduction
1.1 Objectives
1.2 Product Definition
1.2.1 Inclusions & Exclusions
1.3 Market Scope
Figure 1 Usage-Based Insurance Market: Market Segmentation
1.4 Summary of Changes

2 Research Methodology
2.1 Research Data
Figure 2 Usage-Based Insurance Market: Research Design
Figure 3 Research Design Model
2.2 Secondary Data
2.2.1 Key Secondary Sources for Vehicle Sales
2.2.2 Key Secondary Sources for Market Sizing
2.2.3 Key Data from Secondary Sources
2.3 Primary Data
2.3.1 Primaries
Figure 4 Breakdown of Primary Interviews
2.3.2 Sampling Techniques & Data Collection Methods
2.3.3 Primary Participants
2.4 Market Size Estimation
2.4.1 Bottom-Up Approach: Usage-Based Insurance Market
2.4.2 Top-Down Approach: Usage-Based Insurance Market
2.5 Market Breakdown and Data Triangulation
Figure 5 Data Triangulation
2.6 Assumptions & Associated Risks
Table 1 Assumptions, Associated Risks, and Impact
2.7 Limitations

3 Executive Summary
3.1 Pre & Post COVID-19 Scenario
Figure 6 Pre- & Post-COVID-19 Scenario: Usage-Based Insurance Market, 2018-2026 (USD Million)
Table 2 Usage-Based Insurance Market: Pre- Vs. Post-COVID-19 Scenario, 2018-2026 (Million Usd)
3.2 Report Summary
Figure 7 Usage-Based Insurance: Market Outlook
Figure 8 Usage-Based Insurance Market, by Region, 2021 Vs. 2026 (USD Million)

4 Premium Insights
4.1 Attractive Opportunities in Usage-Based Insurance Market
Figure 9 Increasing Adoption of Telematics and Connected Car Services to Drive Usage-Based Insurance Market
4.2 Usage-Based Insurance Market, by Region
Figure 10 North America to Dominate Market During Forecast Period
4.3 Usage-Based Insurance Market, by Vehicle Type
Figure 11 LDV Segment to Hold Largest Market Share by 2026
4.4 Usage-Based Insurance Market, by Vehicle Age
Figure 12 Old Vehicles Projected to Hold Largest Market by 2026
4.5 Usage-Based Insurance Market, by Package Type
Figure 13 MHYD to be Fastest Growing Segment During Forecast Period
4.6 Usage-Based Insurance Market, by Technology
Figure 14 Black Box Expected to Command Largest Share During Forecast Period
4.7 Usage-Based Insurance Market, by Device Offering
Figure 15 Company Provided Devices to be Largest Segment During Forecast Period
4.8 Usage-Based Insurance Market, by Electric Vehicle Type
Figure 16 BEV Segment to Grow Fastest During Forecast Period

5 Market Overview
5.1 Introduction
5.2 Years Considered for the Study
5.3 Market Dynamics
Figure 17 Usage-Based Insurance Market: Market Dynamics
5.3.1 Drivers
5.3.1.1 Increasing Adoption of Telematics and Connected Cars
Figure 18 Connected Car Market Size, 2019 Vs. 2027 (USD Million)
Figure 19 Automotive Telematics Market Size, 2020 Vs. 2025 (USD Million)
5.3.1.2 Reduction in Insurance Premium and Risk-Related Costs
5.3.2 Restraints
5.3.2.1 Ambiguity Over Regulations and Legislative Environments
5.3.3 Opportunities
5.3.3.1 Developing Automotive Usage-Based Insurance Ecosystem
5.3.4 Challenges
5.3.4.1 Data Privacy
Figure 20 Top Smart Mobility Attack Vectors, 2018
5.3.4.2 Lack of Standardized Systems
5.4 Revenue Missed: Opportunities for Usage-Based Insurance Providers
5.4.1 Revenue Shift Driving Market Growth
5.5 Usage-Based Insurance Market, Scenarios (2021-2026)
Figure 21 Usage-Based Insurance Market: COVID-19 Scenarios Analysis
5.5.1 Usage-Based Insurance Market, Most Likely Scenario
Table 3 Most Likely Scenario: Usage-Based Insurance Market, by Region, 2021-2026 (USD Million)
5.5.2 High COVID-19 Impact Scenario
Table 4 High COVID-19 Impact Scenario: Usage-Based Insurance Market, by Region, 2021-2026 (USD Million)
5.5.3 Low COVID-19 Impact Scenario
Table 5 Low COVID-19 Impact Scenario: Usage-Based Insurance Market, by Region, 2021-2026 (USD Million)
5.6 Technology Analysis
5.7 Case Study Analysis
5.8 Adoption of Vehicle Insurance in Key Countries
Figure 22 Vehicles Insured in Key Countries, 2020 (%)
5.9 Patent Analysis
Table 6 Important Innovation & Patent Analysis, 2010-2020
5.10 Average Automotive Insurance Premium Analysis
Table 7 Average Automotive Insurance Premium Analysis, by Region, 2021 (USD)
5.11 Average Usage-Based Insurance Penetration Rate Analysis
Table 8 Average Usage-Based Insurance Penetration Rate Analysis, by Region, 2021 (USD)
5.12 Impact of COVID-19 on Ride Sharing Market, by Key Countries
5.12.1 China
Table 9 China: Ride Sharing Market, by Service Type, 2016-2025 (USD Million)
5.12.2 Germany
Table 10 Germany: Impact of COVID-19 on Ride Sharing Market, by Service Type, 2018-2021 (USD Billion)
5.12.3 US
Table 11 US: Impact of COVID-19 on Ride Sharing Market, by Service, 2018-2021 (USD Billion)

6 Usage-Based Insurance Market, by Package Type
6.1 Introduction
6.1.1 Research Methodology
6.1.2 Assumptions/Limitations
6.1.3 Industry Insights
Figure 23 Usage-Based Insurance Market, by Package Type, 2021 Vs. 2026 (USD Million)
Table 12 Usage-Based Insurance Market, by Package Type, 2018-2020 (USD Million)
Table 13 Usage-Based Insurance Market, by Package Type, 2021-2026 (USD Million)
6.2 Pay-As-You-Drive (PAYD)
6.2.1 Cost Effectiveness and Faster Claims Settlement to Drive PAYD Market
Table 14 PAYD: Usage-Based Insurance Market, by Region, 2018-2020 (USD Million)
Table 15 PAYD: Usage-Based Insurance Market, by Region, 2021-2026 (USD Million)
6.3 Pay-How-You-Drive (PHYD)
6.3.1 Increasing Sales of Vehicles Equipped with Telematics Will Drive PHYD Market
Table 16 PHYD: Usage-Based Insurance Market, by Region, 2018-2020 (USD Million)
Table 17 PHYD: Usage-Based Insurance Market, by Region, 2021-2026 (USD Million)
6.4 Manage-How-You-Drive (MHYD)
6.4.1 Existing Mature Markets in North America and Europe Will Drive MHYD Market
Table 18 MHYD: Usage-Based Insurance Market, by Region, 2018-2020 (USD Million)
Table 19 MHYD: Usage-Based Insurance Market, by Region, 2021-2026 (USD Million)

7 Usage-Based Insurance Market, by Technology
7.1 Introduction
7.1.1 Research Methodology
7.1.2 Assumptions/Limitations
7.1.3 Industry Insights
Figure 24 Usage-Based Insurance Market, by Technology, 2021 Vs. 2026 (USD Million)
Table 20 Usage-Based Insurance Market, by Technology, 2018-2020 (USD Million)
Table 21 Usage-Based Insurance Market, by Technology, 2021-2026 (USD Million)
7.2 Obd-Ii
7.2.1 High Reliability and Customer Acceptance Will Drive Obd-Ii Market
Table 22 Obd-Ii: Usage-Based Insurance Market, by Region, 2018-2020 (USD Million)
Table 23 Obd-Ii: Usage-Based Insurance Market, by Region, 2021-2026 (USD Million)
7.3 Smartphone
7.3.1 Cost Effectiveness and User Convenience Will Drive Smartphone Market
Table 24 Smartphone: Usage-Based Insurance Market, by Region, 2018-2020 (USD Million)
Table 25 Smartphone: Usage-Based Insurance Market, by Region, 2021-2026 (USD Million)
7.4 Embedded System
7.4.1 Increasing Number of Connected Cars Will Drive Embedded System Market
Table 26 Embedded System: Usage-Based Insurance Market, by Region, 2018-2020 (USD Million)
Table 27 Embedded System: Usage-Based Insurance Market, by Region, 2021-2026 (USD Million)
7.5 Black Box
7.5.1 Increasing Demand for Insurance Telematics Will Drive Black Box Market
Table 28 Black Box: Usage-Based Insurance Market, by Region, 2018-2020 (USD Million)
Table 29 Black Box: Usage-Based Insurance Market, by Region, 2021-2026 (USD Million)
7.6 Other Technologies
7.6.1 Increasing Awareness About Auto Insurance and Government Policies Will Drive Market for Other Technologies
Table 30 Other Technologies: Usage-Based Insurance Market, by Region, 2018-2020 (USD Million)
Table 31 Other Technologies: Usage-Based Insurance Market, by Region, 2021-2026 (USD Million)

8 Usage-Based Insurance Market, by Vehicle Type
8.1 Introduction
8.1.1 Research Methodology
8.1.2 Assumptions/Limitations
8.1.3 Industry Insights
Figure 25 Usage-Based Insurance Market, by Vehicle Type, 2021 Vs. 2026 (USD Million)
Table 32 Usage-Based Insurance Market, by Vehicle Type, 2018-2020 (USD Million)
Table 33 Usage-Based Insurance Market, by Vehicle Type, 2021-2026 (USD Million)
8.2 Light-Duty Vehicle (LDV)
8.2.1 Advancements in Connected Car Technologies and Telematics Services Will Drive LDV Market
Table 34 LDV: Usage-Based Insurance Market, by Region, 2018-2020 (USD Million)
Table 35 LDV: Usage-Based Insurance Market, by Region, 2021-2026 (USD Million)
8.3 Heavy-Duty Vehicle (HDV)
8.3.1 New Product Offerings and Increasing Sales of HDVs Will Drive HDV Ubi Market
Table 36 HDV: Usage-Based Insurance Market, by Region, 2018-2020 (USD Million)
Table 37 HDV: Usage-Based Insurance Market, by Region, 2021-2026 (USD Million)

9 Usage-Based Insurance Market, by Vehicle Age
9.1 Introduction
9.1.1 Research Methodology
9.1.2 Assumptions/Limitations
9.1.3 Industry Insights
Figure 26 Usage-Based Insurance Market, by Vehicle Age, 2021 Vs. 2026 (USD Million)
Table 38 Usage-Based Insurance Market, by Vehicle Age, 2018-2020 (USD Million)
Table 39 Usage-Based Insurance Market, by Vehicle Age, 2021-2026 (USD Million)
9.2 New Vehicles
9.2.1 Increasing Sales of Vehicles with Telematics Will Drive New Vehicles Ubi Market
Table 40 New Vehicles: Usage-Based Insurance Market, by Region, 2018-2020 (USD Million)
Table 41 New Vehicles: Usage-Based Insurance Market, by Region, 2021-2026 (USD Million)
9.3 Old Vehicles
9.3.1 Growing Awareness and Technological Advancements Will Drive Old Vehicles Ubi Market
Table 42 Old Vehicles: Usage-Based Insurance Market, by Region, 2018-2020 (USD Million)
Table 43 Old Vehicles: Usage-Based Insurance Market, by Region, 2021-2026 (USD Million)

10 Usage-Based Insurance Market, by Device Offering
10.1 Introduction
10.1.1 Research Methodology
10.1.2 Assumptions/Limitations
10.1.3 Industry Insights
Figure 27 Usage-Based Insurance Market, by Device Offering, 2021 Vs. 2026 (USD Million)
Table 44 Usage-Based Insurance Market, by Device Offering, 2018-2020 (USD Million)
Table 45 Usage-Based Insurance Market, by Device Offering, 2021-2026 (USD Million)
10.2 Bring Your Own Device (BYOD)
10.2.1 High Convenience and Demand for Smartphone Ubi Technology Will Drive BYOD Ubi Market
Table 46 BYOD: Usage-Based Insurance Market, by Region, 2018-2020 (USD Million)
Table 47 BYOD: Usage-Based Insurance Market Size, by Region, 2021-2026 (USD Million)
10.3 Company Provided
10.3.1 Increasing Number of Vehicles with Advanced Safety Features Will Drive Company Provided Ubi Market
Table 48 Company Provided: Usage-Based Insurance Market, by Region, 2018-2020 (USD Million)
Table 49 Company Provided: Usage-Based Insurance Market Size, by Region, 2021-2026 (USD Million)

11 Usage-Based Insurance Market, by Electric Vehicle Type
11.1 Introduction
11.1.1 Research Methodology
11.1.2 Assumptions/Limitations
11.1.3 Industry Insights
11.1.4 Electric Vehicle Sales Data
Table 50 Electric Vehicle Sales, 2018-2020 (’000 Units)
Figure 28 Usage-Based Insurance Market, by Electric Vehicle, 2021 Vs. 2026 (USD Million)
Table 51 Usage-Based Insurance Market, by Electric Vehicle, 2018-2020 (USD Million)
Table 52 Usage-Based Insurance Market Size, by Electric Vehicle, 2021-2026 (USD Million)
11.2 Battery Electric Vehicle (BEV)
11.2.1 Increasing BEV Sales and Opportunities to Reduce Average Premium Will Drive BEV Market
Table 53 BEV: Usage-Based Insurance Market, by Region, 2018-2020 (USD Million)
Table 54 BEV: Usage-Based Insurance Market Size, by Region, 2021-2026 (USD Million)
11.3 Fuel-Cell Electric Vehicle (FCEV)
11.3.1 Attractive Government Policies to Promote Fuel-Cell Vehicles Will Drive FCEV Market
Table 55 FCEV: Usage-Based Insurance Market, by Region, 2018-2020 (USD Million)
Table 56 FCEV: Usage-Based Insurance Market Size, by Region, 2021-2026 (USD Million)
11.4 Plug-In Hybrid Vehicle (PHEV)
11.4.1 Increasing Sales of PHEV Equipped with Telematics Will Drive PHEV Market
Table 57 PHEV: Usage-Based Insurance Market, by Region, 2018-2020 (USD Million)
Table 58 PHEV: Usage-Based Insurance Market Size, by Region, 2021-2026 (USD Million)

12 Usage-Based Insurance Market, by Region
12.1 Introduction
12.1.1 Research Methodology
12.1.2 Assumptions/Limitations
12.1.3 Industry Insights
Figure 29 Usage-Based Insurance Market for Automotive, by Region, 2021 Vs. 2026 (USD Million)
12.1.4 Operational Data
Table 59 New Sales of LDVs, by Region
Table 60 Old Vehicles (Fleet) of LDVs, by Region
Table 61 Usage-Based Insurance Market for Automotive, by Region, 2018-2020 (USD Million)
Table 62 Usage-Based Insurance Market for Automotive, by Region, 2021-2026 (USD Million)
12.2 North America
Figure 30 North America: Usage-Based Insurance Market Snapshot
Table 63 North America: Usage-Based Insurance Market for Automotive, by Country, 2018-2020 (USD Million)
Table 64 North America: Usage-Based Insurance Market for Automotive, by Country, 2021-2026 (USD Million)
12.2.1 US
12.2.1.1 Growing Popularity of Mobile Telematics Will Drive the Ubi Market
Table 65 US: Usage-Based Insurance Market for Automotive, by Package Type, 2018-2020 (USD Million)
Table 66 US: Usage-Based Insurance Market for Automotive, by Package Type, 2021-2026 (USD Million)
12.2.2 Canada
12.2.2.1 Presence of Ubi Insurance Providers Will Drive the Ubi Market
Table 67 Canada: Usage-Based Insurance Market for Automotive, by Package Type, 2018-2020 (USD Million)
Table 68 Canada: Usage-Based Insurance Market for Automotive, by Package Type, 2021-2026 (USD Million)
12.2.3 Mexico
12.2.3.1 Increasing Sales of Premium Vehicles Will Drive the Ubi Market
Table 69 Mexico: Usage-Based Insurance Market for Automotive, by Package Type, 2018-2020 (USD Million)
Table 70 Mexico: Usage-Based Insurance Market for Automotive, by Package Type, 2021-2026 (USD Million)
12.3 Europe
Figure 31 Europe: Usage-Based Insurance Market for Automotive, by Country, 2021 Vs 2026
Table 71 Europe: Usage-Based Insurance Market for Automotive, by Country, 2018-2020 (USD Million)
Table 72 Europe: Usage-Based Insurance Market for Automotive, by Country, 2021-2026 (USD Million)
12.3.1 Italy
12.3.1.1 Presence of Major Ubi Providers Will Drive the Ubi Market
Table 73 Italy: Usage-Based Insurance Market for Automotive, by Package Type, 2018-2020 (USD Million)
Table 74 Italy: Usage-Based Insurance Market for Automotive, by Package Type, 2021-2026 (USD Million)
12.3.2 UK
12.3.2.1 Demand for Connected Cars Will Drive the Ubi Market
Table 75 UK: Usage-Based Insurance Market for Automotive, by Package Type, 2018-2020 (USD Million)
Table 76 UK: Usage-Based Insurance Market for Automotive, by Package Type, 2021-2026 (USD Million)
12.3.3 Germany
12.3.3.1 New Telematics-Based Product Launches Will Drive the Ubi Market
Table 77 Germany: Usage-Based Insurance Market for Automotive, by Package Type, 2018-2020 (USD Million)
Table 78 Germany: Usage-Based Insurance Market for Automotive, by Package Type, 2021-2026 (USD Million)
12.3.4 France
12.3.4.1 Increasing Demand for Fleet Management Will Drive the Ubi Market
Table 79 France: Usage-Based Insurance Market for Automotive, by Package Type, 2018-2020 (USD Million)
Table 80 France: Usage-Based Insurance Market for Automotive, by Package Type, 2021-2026 (USD Million)
12.3.5 Spain
12.3.5.1 High Penetration of Telematics in Lcv Fleet Will Drive the Ubi Market
Table 81 Spain: Usage-Based Insurance Market for Automotive, by Package Type, 2018-2020 (USD Million)
Table 82 Spain: Usage-Based Insurance Market for Automotive, by Package Type, 2021-2026 (USD Million)
12.3.6 Russia
12.3.6.1 Increasing Demand for Safety Features Such as Anti-Theft to Drive the Ubi Market
Table 83 Russia: Usage-Based Insurance Market for Automotive, by Package Type, 2018-2020 (USD Million)
Table 84 Russia: Usage-Based Insurance Market for Automotive, by Package Type, 2021-2026 (USD Million)
12.3.7 Rest of Europe
12.3.7.1 Emerging Startups in Telematics Will Drive the Ubi Market
Table 85 Rest of Europe: Usage-Based Insurance Market for Automotive, by Package Type, 2018-2020 (USD Million)
Table 86 Rest of Europe: Usage-Based Insurance Market for Automotive, by Package Type, 2021-2026 (USD Million)
12.4 Asia-Pacific
Figure 32 Asia-Pacific: Usage-Based Insurance Market Snapshot
Table 87 Asia-Pacific: Usage-Based Insurance Market for Automotive, by Country, 2018-2020 (USD Million)
Table 88 Asia-Pacific: Usage-Based Insurance Market for Automotive, by Country, 2021-2026 (USD Million)
12.4.1 China
12.4.1.1 Increasing Focus on IoT Will Drive the Ubi Market
Table 89 China: Usage-Based Insurance Market for Automotive, by Package Type, 2018-2020 (USD Million)
Table 90 China: Usage-Based Insurance Market for Automotive, by Package Type, 2021-2026 (USD Million)
12.4.2 Japan
12.4.2.1 Increasing Number of Vehicles with Oe-Fitted Telematics Unit Will Drive the Ubi Market
Table 91 Japan: Usage-Based Insurance Market for Automotive, by Package Type, 2018-2020 (USD Million)
Table 92 Japan: Usage-Based Insurance Market for Automotive, by Package Type, 2021-2026 (USD Million)
12.4.3 South Korea
12.4.3.1 Presence of Robust Telecommunications Infrastructure and Mobile Communications Technology Will Drive the Ubi Market
Table 93 South Korea: Usage-Based Insurance Market for Automotive, by Package Type, 2018-2020 (USD Million)
Table 94 South Korea: Usage-Based Insurance Market for Automotive, by Package Type, 2021-2026(USD Million)
12.4.4 India
12.4.4.1 Increasing Sales of Vehicles with Telematics Unit Will Drive the Ubi Market
Table 95 India: Usage-Based Insurance Market for Automotive, by Package Type, 2018-2020 (USD Million)
Table 96 India: Usage-Based Insurance Market for Automotive, by Package Type, 2021-2026 (USD Million)
12.4.5 Rest of Asia-Pacific
Table 97 Rest of Asia-Pacific: Usage-Based Insurance Market for Automotive, by Package Type, 2018-2020 (USD Million)
Table 98 Rest of Asia-Pacific: Usage-Based Insurance Market for Automotive, by Package Type, 2021-2026 (USD Million)
12.5 Rest of the World
Figure 33 RoW: Usage-Based Insurance Market, 2021 Vs. 2026 (USD Million)
Table 99 Rest of the World: Usage-Based Insurance Market for Automotive, by Country, 2018-2020 (USD Million)
Table 100 Rest of the World: Usage-Based Insurance Market for Automotive, by Country, 2021-2026 (USD Million)
12.5.1 Brazil
12.5.1.1 Popularity of Embedded Telematics Will Drive the Ubi Market
Table 101 Brazil: Usage-Based Insurance Market for Automotive, by Package Type, 2018-2020 (USD Million)
Table 102 Brazil: Usage-Based Insurance Market for Automotive, by Package Type, 2021-2026 (USD Million)
12.5.2 South Africa
12.5.2.1 Safety Concerns Such as Hijacking are Driving the Adoption of Ubi
Table 103 South Africa: Usage-Based Insurance Market for Automotive, by Package Type, 2018-2020 (USD Million)
Table 104 South Africa: Usage-Based Insurance Market for Automotive, by Package Type, 2021-2026 (USD Million)
12.5.3 Others
12.5.3.1 Growing Vehicle Fleet and Demand for Connected Cars Will Drive the Ubi Market
Table 105 Others: Usage-Based Insurance Market for Automotive, by Package Type, 2018-2020 (USD Million)
Table 106 Others: Usage-Based Insurance Market for Automotive, by Package Type, 2021-2026 (USD Million)

13 Competitive Landscape
13.1 Overview
13.2 Usage-Based Insurance Market: Market Ranking Analysis
Figure 34 Usage-Based Insurance Market Ranking Analysis, 2020
Figure 35 Usage-Based Insurance Market: Revenue Analysis of Top 5 Players
13.3 Competitive Leadership Mapping
13.3.1 Terminology
13.3.2 Visionary Leaders
13.3.3 Innovators
13.3.4 Dynamic Differentiators
13.3.5 Emerging Companies
13.4 Competitive Leadership Mapping: Usage-Based Insurance Providers
Figure 36 Usage-Based Insurance Providers: Competitive Leadership Mapping (2020)
13.4.1 Strength of Product Portfolio
Figure 37 Usage-Based Insurance Providers: Company-Wise Product Offering Analysis
13.4.2 Business Strategy Excellence
Figure 38 Usage-Based Insurance Providers: Company-Wise Business Strategy Analysis
13.5 Competitive Leadership Mapping: Telematics Service Providers
Figure 39 Telematics Service Providers: Competitive Leadership Mapping (2020)
13.5.1 Strength of Product Portfolio
Figure 40 Telematics Service Providers: Company-Wise Product Offering Analysis
13.5.2 Business Strategy Excellence
Figure 41 Telematics Service Providers: Company-Wise Business Strategy Analysis
Figure 42 Companies Adopted New Product Development & Partnerships/ Agreements/Supply Contracts/Collaborations/Joint Ventures as the Key Growth Strategy, 2019-21
13.6 Competitive Scenario
13.6.1 New Product Developments/Launch
Table 107 New Product Developments/Launch, 2019-21
13.6.2 Acquisition
Table 108 Acquisition, 2019-2021
13.6.3 Partnerships/Contracts
Table 109 Partnerships/Contracts, 2019-2021
13.7 Right to Win

14 Company Profiles
14.1 Key Players
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, Analyst's View)*
14.1.1 Unipolsai Assicurazioni S.P.A
Table 110 Unipolsai Assicurazioni S.P.A: Business Overview
Figure 43 Unipolsai Assicurazioni S.P.A: Company Snapshot
Table 111 Unipolsai Assicurazioni S.P.A: Product Launches
Figure 44 SWOT Analysis: Unipolsai Assicurazioni S.P.A
14.1.2 Progressive Casualty Insurance Company
Table 112 Progressive Casualty Insurance Company: Business Overview
Figure 45 Progressive Casualty Insurance Company: Company Snapshot
Table 113 Progressive Corporation: Product Launches
Table 114 Panasonic Casualty Insurance Company: Deals
Figure 46 SWOT Analysis: Progressive Casualty Insurance Company
14.1.3 Allstate Insurance Company
Table 115 Allstate Insurance Company: Business Overview
Figure 47 Allstate Insurance Company: Company Snapshot
Figure 48 Allstate Insurance Company: SWOT Analysis
14.1.4 State Farm Mutual Automobile Insurance Company
Table 116 State Farm Mutual Automobile Insurance: Business Overview
Figure 49 State Farm Mutual Automobile Insurance Company: Company Snapshot
Table 117 State Farm Mutual Automobile Insurance Company: Deals
Figure 50 State Farm Mutual Automobile Insurance Company: SWOT Analysis
14.1.5 Liberty Mutual Insurance Company
Table 118 Liberty Mutual Insurance Company: Business Overview
Figure 51 Liberty Mutual Insurance Company: Company Snapshot
Table 119 Liberty Mutual Insurance: Deals
Figure 52 Liberty Mutual Insurance Company: SWOT Analysis
14.1.6 AXA
Table 120 AXA: Business Overview
Figure 53 AXA: Company Snapshot
Table 121 AXA: Deals
14.1.7 Assicurazioni Generali S.P.A.
Table 122 Assicurazioni Generali Solutions: Business Overview
Figure 54 Assicurazioni Generali Solutions: Company Snapshot
Table 123 Assicurazioni Generali Solutions: Deals
14.1.8 Allianz
Table 124 Allianz: Business Overview
Figure 55 Allianz: Company Snapshot
Table 125 Allianz: Deals
14.1.9 Webfleet Solutions
Table 126 Webfleet Solutions: Business Overview
Table 127 Webfleet Solutions: Deals
14.1.10 Verizon
Table 128 Verizon: Business Overview
Figure 56 Verizon: Company Snapshot
Table 129 Verizon: Organic Developments
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, Analyst's View Might Not be Captured in Case of Unlisted Companies.
14.2 Other Key Players
14.2.1 North America
14.2.1.1 Nationwide Mutual Insurance Company
Table 130 Nationwide Mutual Insurance Company: Business Overview
14.2.1.2 Zubie, Inc.
Table 131 Zubie, Inc.: Business Overview
14.2.1.3 Cambridge Mobile Telematics
Table 132 Cambridge Mobile Telematics: Business Overview
14.2.1.4 Modus Group, LLC
Table 133 Modus Group, LLC: Business Overview
14.2.1.5 Metromile Inc.
Table 134 Metromile Inc.: Business Overview
14.2.1.6 Amica Mutual Insurance Company
Table 135 Amica Mutual Insurance Company: Business Overview
14.2.1.7 Sierra Wireless
Table 136 Sierra Wireless: Business Overview
14.2.2 Europe
14.2.2.1 Octo Group S.P.A
Table 137 Octo Group S.P.A: Business Overview
14.2.2.2 Trak Global Group
Table 138 Trak Global Group: Business Overview
14.2.2.3 Insure the Box Limited
Table 139 Insure the Box Limited: Business Overview
14.2.2.4 Mapfre
Table 140 Mapfre: Business Overview
14.2.2.5 The Floow
Table 141 The Floow: Business Overview

15 Analyst's Recommendations
15.1 North America Will be the Major Market for Usage-Based Insurance
15.2 Manage-How-You-Drive and Pay-How-You-Drive Can be Key Plans for Insurance Service Providers
15.3 Conclusion

16 Appendix
16.1 Package Size
16.2 Currency & Pricing
16.3 Key Insights of Industry Experts
16.4 Discussion Guide
16.5 Knowledge Store: The Subscription Portal
16.6 Available Customizations

Note: Product cover images may vary from those shown
  • Allianz
  • Allstate Insurance Company
  • Amica Mutual Insurance Company
  • Assicurazioni Generali S.P.A.
  • AXA
  • Cambridge Mobile Telematics
  • Insure the Box Limited
  • Liberty Mutual Insurance Company
  • Mapfre
  • Metromile Inc.
  • Modus Group, LLC
  • Nationwide Mutual Insurance Company
  • Octo Group S.P.A
  • Progressive Casualty Insurance Company
  • Sierra Wireless
  • State Farm Mutual Automobile Insurance Company
  • The Floow
  • Trak Global Group
  • Unipolsai Assicurazioni S.P.A
  • Verizon
  • Webfleet Solutions
  • Zubie, Inc.
Note: Product cover images may vary from those shown

Loading
LOADING...

Adroll
adroll