COVID-19 Impact on Usage Based Insurance Market Size 2020 to 2030

Posted by Prasad on January 28th, 2021

Analysis of the Global Usage Based Insurance Market

A recent market research report on the Usage Based Insurance Market published by Fact.MR is an in-depth assessment of the current landscape of the market. Further, the report elaborates on the different segments of the Usage Based Insurance Market and offers a thorough understanding of the growth potential of each market segment over the forecast period (2020-2030).

The usage-based insurance market growth is attributed to increasing popularity of usage-based insurance systems among insurance enterprises for improving business profitability. These insurance policies leverage the latest machine-to-machine technologies to capture dynamic data from in-car devices, enabling insurance providers to set and adjust premiums based on an individual’s driving behavior, rather than any claim history. This leads to control over claim costs, improvement in pricing models, and accelerated revenue growth. The report analyzes the micro and macro-economic factors that are projected to impact the growth of the Usage Based Insurance Market in the upcoming years.

Key Insights Enclosed in the Report

• Key technological developments related to the Usage Based Insurance Market
• Assessment of the product pricing strategies of prominent market players
• Country-wise analysis of the Usage Based Insurance Market in different regions
• Analysis of the supply-demand ratio, value chain, consumption and more
• Adoption of the Usage Based Insurance Market in various end-use industries

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Segmentation of the Usage Based Insurance Market

The presented report dissects the Usage Based Insurance Market into different segments and ponders over the current and future prospects of each segment. The report depicts the year-on-year growth of each segment and touches upon the different factors that are likely to influence the growth of each market segment.

The various segments of the Usage Based Insurance Market analyzed in the report include:

Policy Type

• Pay-how-you-drive  (PHYD)
• Pay-as-you-drive (PAYD)
• Manage-how-you-drive (MHYD)

Product

• Black Box
• OBD Dongle
• Smartphone
• Others

Vehicle

• Passenger Vehicle
• Commercial Vehicle

Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Important doubts related to the Usage Based Insurance Market clarified in the report:

1. Which regional market is expected to witness the highest growth during the forecast period?
2. How has the surging prices of raw materials impacted the growth of the Usage Based Insurance Market?
3. Why are market players focusing on R&D and innovations?
4. Are market players expanding their global presence? If yes, how?
5. What is the estimated value of the Usage Based Insurance Market in 2030?

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