Usage Based Insurance Market Is Booming Worldwide with | Progressive, Octo Telematics, Norris Insurance, TomTom

Usage Based Insurance Comprehensive Study by Vehicle (Passenger Vehicle, Commercial Vehicle), Technology (OBD-II, Smartphone, Embedded System, Black Box, Other), Package (Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD), Manage-How-You-Drive (MHYD)) Players and Region – Global Market Outlook to 2026

Latest released the research study on Global Usage Based Insurance Market, offers a detailed overview of the factors influencing the global business scope. Usage Based Insurance Market research report shows the latest market insights, current situation analysis with upcoming trends and breakdown of the products and services. The report provides key statistics on the market status, size, share, growth factors of the Usage Based Insurance. The study covers emerging player’s data, including: competitive landscape, sales, revenue and global market share of top manufacturers are: Allstate (United States),Progressive Corporation (United States),Vodafone (United Kingdom),Octo Telematics (United Kingdom),Norris Insurance (United States),Intellimec (Canda),TomTom (Netherlands),Octo Telematics (Italy),Allianz (Germany),AXA (France),Liberty Mutual (United States),Verizon (United States),Sierra Wireless (Canada)

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Definition and Brief Overview of Usage Based Insurance:

Usage based insurance also referred as pay-per-mile, pay-as-you-drive or pay-as-you-go is a type of auto insurance that depending on the specific insurer’s program. It can measure how far a vehicle is driven, where it is driven and how it is driven. The demand for usage based insurance is highly propelled in recent years with the increasing adoption of telematics in the vehicle as well as increasing adoption of mobility as a service. Insurance companies and telematics companies operating in the developed and developing countries are scoring investments which helps to growth of usage based insurance market.

Analyst at AMA have conducted special survey and have connected with opinion leaders and Industry experts from various region to minutely understand impact on growth as well as local reforms to fight the situation. A special chapter in the study presents Impact Analysis of COVID-19 on Global Usage Based Insurance Market along with tables and graphs related to various country and segments showcasing impact on growth trends.

Market Trend:
Trend of Try-Before-You-Buy (TBYB) Insurance Model

Market Drivers:
Significant Growth in the Automotive Industry

Increasing Adoption of Telematics and Connected Cars

Rising Penetration of Smartphones Integrated With Vehicle Connectivity Systems


Data Security and Privacy Concerns

Lack of Standardized Systems

The Global Usage Based Insurance Market segments and Market Data Break Down are illuminated below:

by Vehicle (Passenger Vehicle, Commercial Vehicle), Technology (OBD-II, Smartphone, Embedded System, Black Box, Other), Package (Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD), Manage-How-You-Drive (MHYD))

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Market Insights:

On 6th September 2018, Progressive Corporation, a leader in usage based insurance introduced ELD usage based insurance program for commercial truck drivers. It is available to owner-operators and small fleets that have an electronic logging device (ELD).

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

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 Usage Based Insurance market
Chapter 2: Exclusive Summary – the basic information of the Usage Based Insurance Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges of the Usage Based Insurance
Chapter 4: Presenting the Usage Based Insurance Market Factor Analysis Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying market size by Type, End User and Region 2015-2020
Chapter 6: Evaluating the leading manufacturers of the 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 (2021-2026).
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source

Finally, Usage Based Insurance Market is a valuable source of guidance for individuals and companies in decision framework.

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Key questions answered
– Who are the Leading key players and what are their Key Business plans in the Global Usage Based Insurance market?
– What are the key concerns of the five forces analysis of the Global Usage Based Insurance market?
– What are different prospects and threats faced by the dealers in the Global Usage Based Insurance market?
– What are the strengths and weaknesses of the key vendors?

Definitively, this report will give you an unmistakable perspective on every single reality of the market without a need to allude to some other research report or an information source. Our report will give all of you the realities about the past, present, and eventual fate of the concerned Market.

Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.

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