Edison, NJ -- (SBWIRE) -- 02/05/2021 -- A new business intelligence report released by Advance Market Analytics with title Global Usage-Based Insurance Market Insights, Forecast to 2025.This report provides a detailed overview of key factors in the Global Usage-Based Insurance Market and factors such as driver, restraint, past and current trends, regulatory scenarios and technology development. A thorough analysis of these factors has been conducted to determine future growth prospects in the global market. The study covers emerging player's data, including competitive landscape, sales, revenue and global market share of top manufacturers.
Major Players in Market are:
Allianz SE (Germany), AXA S.A. (France), Insure The Box Ltd (United Kingdom), Progressive Corporation (United States), Allstate Corporation (United States), Generali Group (Italy), Mapfre S.A. (Spain), Metromile (United States), Aviva plc. (United Kingdom) and Ageas (Belgium).
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What is Usage-Based Insurance?
Usage-based insurance (UBI), also referred to as pay-per-mile or pay-as-you-drive is a type of auto insurance which depends on the specific insurer's program, can measure how far a vehicle is driven, where it's driven or how it's driven. It is often operated by telematics, a technology which is available in vehicles using a plug-in device or is pre-installed in the car's network, but can also be available through mobile applications. It provides insurers a range of data, from how drivers are braking and accelerating to their speeds, where they're driving, and for how long they're behind the wheel. The data collected gets sent to an insurance corporation, which can keep the track of distance driven for the basic pay-as-you-go insurance, or more generally assess the risk profile of a particular driver in order to reward safer drivers with discounts on their insurance.
Usage-Based Insurance Market Segmentation and Market Data Breakdown:
Type (Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD), Manage-How-You-Drive (MHYD)), Vehicle (Light Duty Vehicles (LDV), Heavy Duty Vehicles (HDV)), Technology (OBD-II, Smartphone, Hybrid, Black-Box)
Market Drivers
- Increasing Adoption of Telematics
- Decline in Insurance Premium and Risk-Related Costs
- Lesser Accident and Vehicle Theft Possibilities
Market Trend
- Timely and Accurate Data Collection
- Rising Permeation of Smartphones Integrated With Vehicle Connectivity Systems
Restraints
- Uncertainty over Regulations and Legislative Environments
- Telematics Installation Cost Is High
Opportunities
- Growth of the Automobile Industry in Developing Countries
- Technological Advancement in Usage-Based Insurance
- Rising Concerns Regarding Driver Safety
Challenges
- Data Privacy Concerns and Quality Issues
- Absence of Standardized Systems
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Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.
What benefits does AMA research study is going to provide?
- Latest industry influencing trends and development scenario
- Open up New Markets
- To Seize powerful market opportunities
- Key decision in planning and to further expand market share
- Identify Key Business Segments, Market proposition & Gap Analysis
- Assisting in allocating marketing investments
Browse in-depth TOC on "Global Usage-Based Insurance Market Comprehensive Study 2019-2026":
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Strategic Points Covered in Table of Content of Global Usage-Based Insurance Market:
Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Global Usage-Based Insurance market
Chapter 2: Exclusive Summary – the basic information of the Global Usage-Based Insurance Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges of the Global Usage-Based Insurance
Chapter 4: Presenting the Global Usage-Based Insurance Market Factor Analysis Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region 2013-2020
Chapter 6: Evaluating the leading manufacturers of the Global Usage-Based Insurance market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by manufacturers with revenue share and sales by key countries in these various regions.
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source
Finally, Global Usage-Based Insurance Market is a valuable source of guidance for individuals and companies.
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Data Sources & Methodology
The primary sources involves the industry experts from the Usage-Based Insurance Market including the management organizations, processing organizations, analytics service providers of the industry's value chain. All primary sources were interviewed to gather and authenticate qualitative & quantitative information and determine the future prospects.
In the extensive primary research process undertaken for this study, the primary sources – Postal Surveys, telephone, Online & Face-to-Face Survey were considered to obtain and verify both qualitative and quantitative aspects of this research study. When it comes to secondary sources Company's Annual reports, press Releases, Websites, Investor Presentation, Conference Call transcripts, Webinar, Journals, Regulators, National Customs and Industry Associations were given primary weight-age.
Key questions answered
- Who are the Leading key players and what are their Key Business plans in the Usage-Based Insurance market?
- What are the key concerns of the five forces analysis of the Usage-Based Insurance market?
- What are different prospects and threats faced by the dealers in the Usage-Based Insurance market?
- What are the strengths and weaknesses of the key vendors?
Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.