Usage-Based Insurance 2019 Global Trends, Market Size, Share, Status, SWOT Analysis and Forecast to 2025
Usage-based insurance (UBI) also known as pay as you drive (PAYD) and pay how you drive (PHYD) and mile-based auto insurance is a type of vehicle insurance whereby the costs are dependent upon type of vehicle used, measured against time, distance, behavior and place.
Overview
At the onset, the report covers a forecast and thorough analysis of the Usage-Based Insurance market on a regional as well as global level. The report offers comprehensive data from 2019 to 2025 on the basis of the revenue generation, and historical, current and estimated growth in the market in terms of both value and volume. Additionally, the report includes the noteworthy changes taking place in the market dynamics over the review period.
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Key Players
The report consists of a thorough analysis of the competitive scenario of the x market and the current trends expected to influence the industrial landscape. It identifies essential players of the market, comprising of both key and emerging players. The report offers the company market share study to give a broader overview of the key players in the market. Furthermore, the report also includes key strategic developments of the market along with new product launch, acquisitions & mergers, partnerships, agreements, research & development collaborations & joint ventures, and regional expansion of major market players on a global and regional basis.
MetroMile
Progressive
Allstate
Nationwide
Esurance
Safeco
Travellers
Liberty Mutual Insurance
AIOI
QBE
Drivers and Constraints
The report comprises a through the study of significant factors that influence the x market considerably. The report thoroughly explains the factors that are driving and restraining the market over the assessment period. It also includes the factor that is expected to create potential opportunities for market players in order to achieve an extensive in-depth understanding of the market.
Regional Analysis
The estimate and review of the x market have been conducted on a regional and global level. Based on the region, the x market has been analyzed in North America, Latin America (LATAM), Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA).
Method of Research
This market research report has been compiled with the use of extensive primary and secondary sources such as interviews, surveys, observations, industry databases, and journals, among others, to recognize and accumulate useful data for this comprehensive market-oriented, commercial, and technical assessment of the market.
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Banks, financial institutes, retail business, e-commerce, financial institutes, telecommunication and healthcare are among the several large-scale domains that use such service to drive business. However, several factors such as ongoing trade tension between China and U.S., sociopolitical instability in the Middle East and Brexit uncertainty can have a negative influence on the market in the near future. Also, limited resource remains a primary growth deterrent for the market as it undermines growth potential.
Advanced counties in North America and Europe are at a better position to tackle such issue owing to faster market assessment capacity. In Europe, countries such as the U.K., Germany, Netherlands, among others are key markets for such services. In North America, the U.S. remain the top business destination for market players. Countries such as China, Japan, South Korea and India present significant market opportunities. In the Middle East, the market is expected to growth significantly in CGG counties. This is primarily owing to increased focus on economic diversification. Non-oil investment has grown consistently in the region, which is viewed as a positive market indicator.
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