The Global Usage-Based Insurance Market Report by The Business Research Company covers usage-based insurance market drivers and restraints, usage-based insurance market size, major players, and the impact of covid-19 on the usage-based insurance market.

The usage-based insurance (UBI) market consists of sales of usage-based insurance services by entities (organizations, sole traders, and partnerships) that provide auto insurance services by placing monitoring devices in the vehicle. UBI is frequently powered by telematics technology, which is accessible in vehicles via a plug-in device or is pre-installed in the car system, and that can also be accessed via mobile apps and delivers insurers with a variety of data, including how far vehicle is driven, how it is driven, and where it is driven.

The global usage-based insurance (UBI) market is expected to grow from $34.53 billion in 2020 to $43.31 billion in 2021 at a compound annual growth rate (CAGR) of 25.4%. The change in growth trend can be attributed to the growing demand from the end-user industry. The UBI market is expected to reach $104.79 billion in 2025 at a CAGR of 24.7%.

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Some usage-based insurance market trends include technological advancements. Major companies operating in the usage-based insurance sector are focused on developing technological solutions for usage-based insurance to strengthen their position in the market.

Global usage-based insurance market segments include:

1) By Vehicle Type: Light-Duty Vehicle (LDV), Heavy-Duty Vehicle (HDV)

2) By Technology: OBD-II-Based UBI Programs, Smartphone-Based UBI Programs, Hybrid-Based UBI Programs, Black-Box-Based UBI Programs

3) By Package Type: Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD), Manage-How-You-Drive (MHYD)

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America accounts for the largest global usage-based insurance market share.

Read More On The Usage-Based Insurance Global Market Report 2021: COVID-19 Impact and Recovery to 2030 At:

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The Usage-Based Insurance Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides usage-based insurance market overviews, analyzes and forecasts market size, share, usage-based insurance market players, usage-based insurance market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.

The usage-based insurance identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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Read Usage-Based Insurance Global Market Report 2021: COVID-19 Impact and Recovery to 2030 from The Business Research Company for information on the following:

Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries

Market Players Covered: Allianz SE, Assicurazioni Generali S.p.A., Aviva plc, Insure The Box Limited, Liberty Mutual Group, Mapfre S.A., Metromile Inc., Nationwide Mutual Insurance Company, Progressive Casualty Insurance Company, The Allstate Corporation, Cambridge Mobile Telematics, Esurance Insurance Services Inc., Modus Group LLC, Octo Group, Safeco Insurance, State Farm Automobile Mutual Insurance Company, and TrueMotion Inc.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.

Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.

Strategies For Participants In The Usage-Based Insurance Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.

Opportunities For Companies In The Usage-Based Insurance Sector: The report reveals where the global industry will put on most $ sales up to 2023.

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