Report overview
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.
This report aims to provide a comprehensive presentation of the global market for Usage-Based Insurance, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Usage-Based Insurance. This report contains market size and forecasts of Usage-Based Insurance in global, including the following market information:
Global Usage-Based Insurance Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global top five companies in 2022 (%)
The global Usage-Based Insurance market was valued at US$ 41150 million in 2022 and is projected to reach US$ 113980 million by 2029, at a CAGR of 15.7% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
The U.S. Market is Estimated at $ Million in 2022, While China is to reach $ Million.
Pay-As-You-Drive Insurance Segment to Reach $ Million by 2029, with a % CAGR in next six years.
The global key manufacturers of Usage-Based Insurance include MetroMile, Progressive, Allstate, Nationwide, Esurance, Safeco, Travellers, Liberty Mutual Insurance and AIOI, etc. in 2022, the global top five players have a share approximately % in terms of revenue.
We surveyed the Usage-Based Insurance companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Usage-Based Insurance Market, by Type, 2018-2023, 2024-2029 ($ millions)
Global Usage-Based Insurance Market Segment Percentages, by Type, 2022 (%)
Pay-As-You-Drive Insurance
Pay-How-You-Drive Insurance
Distance Based Insurance
Pay-As-You-Go Insurance
Global Usage-Based Insurance Market, by Application, 2018-2023, 2024-2029 ($ millions)
Global Usage-Based Insurance Market Segment Percentages, by Application, 2022 (%)
Men
Women
Global Usage-Based Insurance Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions)
Global Usage-Based Insurance Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Usage-Based Insurance revenues in global market, 2018-2023 (estimated), ($ millions)
Key companies Usage-Based Insurance revenues share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
MetroMile
Progressive
Allstate
Nationwide
Esurance
Safeco
Travellers
Liberty Mutual Insurance
AIOI
QBE
Outline of Major Chapters:
Chapter 1: Introduces the definition of Usage-Based Insurance, market overview.
Chapter 2: Global Usage-Based Insurance market size in revenue.
Chapter 3: Detailed analysis of Usage-Based Insurance company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Usage-Based Insurance in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.
