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The global usage-based insurance market size grew from $54.25 billion in 2022 to $67.92 billion in 2023 at a compound annual growth rate (CAGR) of 25.2%.
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Usage Based Insurance Global Market Report 2023 Market Size, Trends and Global Forecast 2023-2032
Usage Based Insurance Market Definition The usage-based insurance is frequently powered by telematics technology, which is accessible in vehicles via a plug-in device or is pre-installed in the car's system, and that can also be accessed via mobile apps and delivers insurers with a variety of data, including how far the vehicle is driven, how it's driven, and where it's driven. The usage-based insurance provides auto insurance services by placing monitoring devices in the vehicle. Click Here To Read More Insights on This Report
Usage Based Insurance Market Characteristics: The global usage-based insurance market size grew from $54.25 billion in 2022 to $67.92 billion in 2023 at a compound annual growth rate (CAGR) of 25.2%. The usage-based insurance market size is expected to grow to $166.88 billion in 2027 at a CAGR of 25.2%. Click Here To Get A Sample Report
Usage Based Insurance Market Segments The report covers the Usage Based Insurance market’s segments- By Business Model By End User By Technology By Package Type By Vehicle Type OBD-II-Based UBI Programs, Smartphone-Based UBI Programs, Hybrid-Based UBI Programs, Black-Box-Based UBI Programs Light-Duty Vehicle (LDV), Heavy-Duty Vehicle (HDV) Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD), Manage-How-You-Drive (MHYD)
Major companies in the market include Allianz SE Assicurazioni Generali S.p.A. Key Market Players Aviva plc Insure The Box Limited Liberty Mutual Group Click Here To Get A Sample Report
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