Automotive usage-based insurance market to grow by 25.63% Y-O-Y from 2022 to 2023: Lower number of accidents and vehicle theft possibilities will drive Growth - Technavio

NEW YORK, Dec. 9, 2022 /PRNewswire/ -- Automotive usage-based insurance market insights -

• Vendors: 15+, Including Allianz SE, AXA Group, Desjardins Group, Discovery Ltd., Kotak Mahindra General Insurance Co. Ltd., Liberty Mutual Holding Co. Inc., Metlife Inc., Navi Technologies Ltd, Sierra Wireless Inc., The Allstate Corp., The Progressive Corp., TomTom International BV, Track Global Group Ltd., Verizon Communications Inc., Vodafone Group Plc, Aviva Plc, Howden Broking Group Ltd., Direct Line Insurance Group Plc, OCTO Telematics S.p.A, and The Travelers Co. Inc., among others
• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
• Segments: Application, Pricing scheme, and Region

To understand more about the automotive usage-based insurance market, request a sample report

In 2017, the automotive usage-based insurance market was valued at USD 10,174.56 million. From a regional perspective, APAC held the largest market share, valued at USD 1,172.11 million. The automotive usage-based insurance market size is estimated to grow by USD 69,980.26 million from 2022 to 2027 at a CAGR of 26.79%, according to Technavio.

Automotive usage-based insurance market - Customer landscape

To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity
• For highlights on customer landscape analysis, download a sample!

Automotive usage-based insurance market - Vendor insights

The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyses the market's competitive landscape and offers information on several market vendors including –

• Kotak Mahindra General Insurance Co. Ltd.: The company offers Automotive usage-based insurance such as Direct line car insurance with comprehensive plus, driver plus insurance and multi-car insurance with discounts.
• Liberty Mutual Holding Co. Inc.: The company offers Automotive usage-based insurance such as emergency roadside damage, hijack trauma support and trip monitoring.
• Metlife Inc.: The company offers Automotive usage-based insurance such as high coverage limits, new car replacements and optional legal expense claims.

Automotive usage-based insurance market - Market dynamics

Major drivers:

• Flexible pricing schemes
• The lower number of accidents and vehicle theft possibilities
• Growth in smartphone-enabled programs and their usage

Key challenges:

• The high installation cost of telematics devices
• Maintenance of data accuracy for optimum UBI scores
• Security issues of telematics in vehicles

Drivers and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

The automotive usage-based insurance market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

Why buy?

• Add credibility to strategies
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What are the Key Data Covered in this automotive usage-based insurance market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the automotive usage-based insurance market between 2023 and 2027
• Precise estimation of the size of the automotive usage-based insurance market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the automotive usage-based insurance market industry across APAC, North America, Europe, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of automotive usage-based insurance market vendors

Related reports:

• The Automotive Four-wheel Drive Vehicle Market size is estimated to grow by 2423.33 thousand units with a CAGR of 3.85% during the forecast period 2022 to 2027. The report extensively covers market segmentation by application (passenger cars and commercial vehicles), type (SUVs and crossovers, pickup trucks, and premium and luxury sedans), and geography (North America, APAC, Europe, and the Middle East and Africa, and South America).
• The Automotive On-Board Diagnostics (OBD) Market size is estimated to grow by USD 35638.36 million with a CAGR of 18.29% from 2021 to 2026. The report extensively covers market segmentation by product (allied services and OBD port) and geography (APAC, North America, Europe, Middle East, and Africa, and South America). 

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Table of Content

1 Executive Summary

• 1.1 Market Overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Pricing Scheme
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global automotive usage-based insurance market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global automotive usage-based insurance market 2017 - 2021 ($ million)

• 4.2 Application Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.3 Pricing scheme Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Pricing scheme Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments 
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Embedded UBI - Market size and forecast 2022-2027
• Exhibit 34: Chart on Embedded UBI - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Embedded UBI - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Embedded UBI - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Embedded UBI - Year-over-year growth 2022-2027 (%)

• 6.4 App-based UBI - Market size and forecast 2022-2027
• Exhibit 38: Chart on App-based UBI - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on App-based UBI - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on App-based UBI - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on App-based UBI - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Application 
• Exhibit 42: Market opportunity by Application ($ million)

7 Market Segmentation by Pricing Scheme

• 7.1 Market segments 
• Exhibit 43: Chart on Pricing Scheme - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Pricing Scheme - Market share 2022-2027 (%)

• 7.2 Comparison by Pricing Scheme 
• Exhibit 45: Chart on Comparison by Pricing Scheme
• Exhibit 46: Data Table on Comparison by Pricing Scheme

• 7.3 PHYD - Market size and forecast 2022-2027
• Exhibit 47: Chart on PHYD - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on PHYD - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on PHYD - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on PHYD - Year-over-year growth 2022-2027 (%)

• 7.4 PAYD - Market size and forecast 2022-2027 
• Exhibit 51: Chart on PAYD - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on PAYD - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on PAYD - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on PAYD - Year-over-year growth 2022-2027 (%)

• 7.5 MHYD - Market size and forecast 2022-2027
• Exhibit 55: Chart on MHYD - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on MHYD - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on MHYD - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on MHYD - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Pricing Scheme 
• Exhibit 59: Market opportunity by Pricing Scheme ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 61: Chart on Market share by geography 2022-2027 (%)
• Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 63: Chart on Geographic comparison
• Exhibit 64: Data Table on Geographic comparison

• 9.3 Europe - Market size and forecast 2022-2027
• Exhibit 65: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027
• Exhibit 69: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 77: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 Germany - Market size and forecast 2022-2027
• Exhibit 85: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027
• Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 UK - Market size and forecast 2022-2027
• Exhibit 93: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.11 France - Market size and forecast 2022-2027
• Exhibit 97: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.12 Canada - Market size and forecast 2022-2027
• Exhibit 101: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 105: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 108: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 109: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 110: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 111: Matrix on vendor position and classification

• 12.3 Allianz SE 
• Exhibit 112: Allianz SE - Overview
• Exhibit 113: Allianz SE - Business segments
• Exhibit 114: Allianz SE - Key news
• Exhibit 115: Allianz SE - Key offerings
• Exhibit 116: Allianz SE - Segment focus

• 12.4 Aviva Plc 
• Exhibit 117: Aviva Plc - Overview
• Exhibit 118: Aviva Plc - Business segments
• Exhibit 119: Aviva Plc - Key offerings
• Exhibit 120: Aviva Plc - Segment focus

• 12.5 AXA Group 
• Exhibit 121: AXA Group - Overview
• Exhibit 122: AXA Group - Business segments
• Exhibit 123: AXA Group - Key offerings
• Exhibit 124: AXA Group - Segment focus

• 12.6 Desjardins Group 
• Exhibit 125: Desjardins Group - Overview
• Exhibit 126: Desjardins Group - Business segments
• Exhibit 127: Desjardins Group - Key offerings
• Exhibit 128: Desjardins Group - Segment focus

• 12.7 Direct Line Insurance Group Plc 
• Exhibit 129: Direct Line Insurance Group Plc - Overview
• Exhibit 130: Direct Line Insurance Group Plc - Business segments
• Exhibit 131: Direct Line Insurance Group Plc - Key offerings
• Exhibit 132: Direct Line Insurance Group Plc - Segment focus

• 12.8 Discovery Ltd. 
• Exhibit 133: Discovery Ltd. - Overview
• Exhibit 134: Discovery Ltd. - Business segments
• Exhibit 135: Discovery Ltd. - Key offerings
• Exhibit 136: Discovery Ltd. - Segment focus

• 12.9 Howden Broking Group Ltd. 
• Exhibit 137: Howden Broking Group Ltd. - Overview
• Exhibit 138: Howden Broking Group Ltd. - Product / Service
• Exhibit 139: Howden Broking Group Ltd. - Key offerings

• 12.10 Kotak Mahindra General Insurance Co. Ltd. 
• Exhibit 140: Kotak Mahindra General Insurance Co. Ltd. - Overview
• Exhibit 141: Kotak Mahindra General Insurance Co. Ltd. - Product / Service
• Exhibit 142: Kotak Mahindra General Insurance Co. Ltd. - Key offerings

• 12.11 Liberty Mutual Holding Co. Inc. 
• Exhibit 143: Liberty Mutual Holding Co. Inc. - Overview
• Exhibit 144: Liberty Mutual Holding Co. Inc. - Business segments
• Exhibit 145: Liberty Mutual Holding Co. Inc. - Key offerings
• Exhibit 146: Liberty Mutual Holding Co. Inc. - Segment focus

• 12.12 Metlife Inc. 
• Exhibit 147: Metlife Inc. - Overview
• Exhibit 148: Metlife Inc. - Business segments
• Exhibit 149: Metlife Inc. - Key offerings
• Exhibit 150: Metlife Inc. - Segment focus

• 12.13 Navi Technologies Ltd 
• Exhibit 151: Navi Technologies Ltd - Overview
• Exhibit 152: Navi Technologies Ltd - Product / Service
• Exhibit 153: Navi Technologies Ltd - Key offerings

• 12.14 OCTO Telematics S.p.A 
• Exhibit 154: OCTO Telematics S.p.A - Overview
• Exhibit 155: OCTO Telematics S.p.A - Product / Service
• Exhibit 156: OCTO Telematics S.p.A - Key offerings

• 12.15 Sierra Wireless Inc. 
• Exhibit 157: Sierra Wireless Inc. - Overview
• Exhibit 158: Sierra Wireless Inc. - Business segments
• Exhibit 159: Sierra Wireless Inc. - Key offerings
• Exhibit 160: Sierra Wireless Inc. - Segment focus

• 12.16 The Allstate Corp. 
• Exhibit 161: The Allstate Corp. - Overview
• Exhibit 162: The Allstate Corp. - Business segments
• Exhibit 163: The Allstate Corp. - Key offerings
• Exhibit 164: The Allstate Corp. - Segment focus

• 12.17 The Progressive Corp. 
• Exhibit 165: The Progressive Corp. - Overview
• Exhibit 166: The Progressive Corp. - Product / Service
• Exhibit 167: The Progressive Corp. - Key news
• Exhibit 168: The Progressive Corp. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 169: Inclusions checklist
• Exhibit 170: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 171: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 172: Research methodology
• Exhibit 173: Validation techniques employed for market sizing
• Exhibit 174: Information sources

• 13.5 List of abbreviations 
• Exhibit 175: List of abbreviations

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio

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