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.
TABLE OF CONTENTS
1 Introduction to Research & Analysis Reports
1.1 Usage-Based Insurance Market Definition
1.2 Market Segments
1.2.1 Market by Type
1.2.2 Market by Application
1.3 Global Usage-Based Insurance Market Overview
1.4 Features & Benefits of This Report
1.5 Methodology & Sources of Information
1.5.1 Research Methodology
1.5.2 Research Process
1.5.3 Base Year
1.5.4 Report Assumptions & Caveats
2 Global Usage-Based Insurance Overall Market Size
2.1 Global Usage-Based Insurance Market Size: 2022 VS 2029
2.2 Global Usage-Based Insurance Market Size, Prospects & Forecasts: 2018-2029
2.3 Key Market Trends, Opportunity, Drivers and Restraints
2.3.1 Market Opportunities & Trends
2.3.2 Market Drivers
2.3.3 Market Restraints
3 Company Landscape
3.1 Top Usage-Based Insurance Players in Global Market
3.2 Top Global Usage-Based Insurance Companies Ranked by Revenue
3.3 Global Usage-Based Insurance Revenue by Companies
3.4 Top 3 and Top 5 Usage-Based Insurance Companies in Global Market, by Revenue in 2022
3.5 Global Companies Usage-Based Insurance Product Type
3.6 Tier 1, Tier 2 and Tier 3 Usage-Based Insurance Players in Global Market
3.6.1 List of Global Tier 1 Usage-Based Insurance Companies
3.6.2 List of Global Tier 2 and Tier 3 Usage-Based Insurance Companies
4 Market Sights by Product
4.1 Overview
4.1.1 By Type - Global Usage-Based Insurance Market Size Markets, 2022 & 2029
4.1.2 Pay-As-You-Drive Insurance
4.1.3 Pay-How-You-Drive Insurance
4.1.4 Distance Based Insurance
4.1.5 Pay-As-You-Go Insurance
4.2 By Type - Global Usage-Based Insurance Revenue & Forecasts
4.2.1 By Type - Global Usage-Based Insurance Revenue, 2018-2023
4.2.2 By Type - Global Usage-Based Insurance Revenue, 2024-2029
4.2.3 By Type - Global Usage-Based Insurance Revenue Market Share, 2018-2029
5 Sights by Application
5.1 Overview
5.1.1 By Application - Global Usage-Based Insurance Market Size, 2022 & 2029
5.1.2 Men
5.1.3 Women
5.2 By Application - Global Usage-Based Insurance Revenue & Forecasts
5.2.1 By Application - Global Usage-Based Insurance Revenue, 2018-2023
5.2.2 By Application - Global Usage-Based Insurance Revenue, 2024-2029
5.2.3 By Application - Global Usage-Based Insurance Revenue Market Share, 2018-2029
6 Sights by Region
6.1 By Region - Global Usage-Based Insurance Market Size, 2022 & 2029
6.2 By Region - Global Usage-Based Insurance Revenue & Forecasts
6.2.1 By Region - Global Usage-Based Insurance Revenue, 2018-2023
6.2.2 By Region - Global Usage-Based Insurance Revenue, 2024-2029
6.2.3 By Region - Global Usage-Based Insurance Revenue Market Share, 2018-2029
6.3 North America
6.3.1 By Country - North America Usage-Based Insurance Revenue, 2018-2029
6.3.2 US Usage-Based Insurance Market Size, 2018-2029
6.3.3 Canada Usage-Based Insurance Market Size, 2018-2029
6.3.4 Mexico Usage-Based Insurance Market Size, 2018-2029
6.4 Europe
6.4.1 By Country - Europe Usage-Based Insurance Revenue, 2018-2029
6.4.2 Germany Usage-Based Insurance Market Size, 2018-2029
6.4.3 France Usage-Based Insurance Market Size, 2018-2029
6.4.4 U.K. Usage-Based Insurance Market Size, 2018-2029
6.4.5 Italy Usage-Based Insurance Market Size, 2018-2029
6.4.6 Russia Usage-Based Insurance Market Size, 2018-2029
6.4.7 Nordic Countries Usage-Based Insurance Market Size, 2018-2029
6.4.8 Benelux Usage-Based Insurance Market Size, 2018-2029
6.5 Asia
6.5.1 By Region - Asia Usage-Based Insurance Revenue, 2018-2029
6.5.2 China Usage-Based Insurance Market Size, 2018-2029
6.5.3 Japan Usage-Based Insurance Market Size, 2018-2029
6.5.4 South Korea Usage-Based Insurance Market Size, 2018-2029
6.5.5 Southeast Asia Usage-Based Insurance Market Size, 2018-2029
6.5.6 India Usage-Based Insurance Market Size, 2018-2029
6.6 South America
6.6.1 By Country - South America Usage-Based Insurance Revenue, 2018-2029
6.6.2 Brazil Usage-Based Insurance Market Size, 2018-2029
6.6.3 Argentina Usage-Based Insurance Market Size, 2018-2029
6.7 Middle East & Africa
6.7.1 By Country - Middle East & Africa Usage-Based Insurance Revenue, 2018-2029
6.7.2 Turkey Usage-Based Insurance Market Size, 2018-2029
6.7.3 Israel Usage-Based Insurance Market Size, 2018-2029
6.7.4 Saudi Arabia Usage-Based Insurance Market Size, 2018-2029
6.7.5 UAE Usage-Based Insurance Market Size, 2018-2029
7 Usage-Based Insurance Companies Profiles
7.1 MetroMile
7.1.1 MetroMile Company Summary
7.1.2 MetroMile Business Overview
7.1.3 MetroMile Usage-Based Insurance Major Product Offerings
7.1.4 MetroMile Usage-Based Insurance Revenue in Global Market (2018-2023)
7.1.5 MetroMile Key News & Latest Developments
7.2 Progressive
7.2.1 Progressive Company Summary
7.2.2 Progressive Business Overview
7.2.3 Progressive Usage-Based Insurance Major Product Offerings
7.2.4 Progressive Usage-Based Insurance Revenue in Global Market (2018-2023)
7.2.5 Progressive Key News & Latest Developments
7.3 Allstate
7.3.1 Allstate Company Summary
7.3.2 Allstate Business Overview
7.3.3 Allstate Usage-Based Insurance Major Product Offerings
7.3.4 Allstate Usage-Based Insurance Revenue in Global Market (2018-2023)
7.3.5 Allstate Key News & Latest Developments
7.4 Nationwide
7.4.1 Nationwide Company Summary
7.4.2 Nationwide Business Overview
7.4.3 Nationwide Usage-Based Insurance Major Product Offerings
7.4.4 Nationwide Usage-Based Insurance Revenue in Global Market (2018-2023)
7.4.5 Nationwide Key News & Latest Developments
7.5 Esurance
7.5.1 Esurance Company Summary
7.5.2 Esurance Business Overview
7.5.3 Esurance Usage-Based Insurance Major Product Offerings
7.5.4 Esurance Usage-Based Insurance Revenue in Global Market (2018-2023)
7.5.5 Esurance Key News & Latest Developments
7.6 Safeco
7.6.1 Safeco Company Summary
7.6.2 Safeco Business Overview
7.6.3 Safeco Usage-Based Insurance Major Product Offerings
7.6.4 Safeco Usage-Based Insurance Revenue in Global Market (2018-2023)
7.6.5 Safeco Key News & Latest Developments
7.7 Travellers
7.7.1 Travellers Company Summary
7.7.2 Travellers Business Overview
7.7.3 Travellers Usage-Based Insurance Major Product Offerings
7.7.4 Travellers Usage-Based Insurance Revenue in Global Market (2018-2023)
7.7.5 Travellers Key News & Latest Developments
7.8 Liberty Mutual Insurance
7.8.1 Liberty Mutual Insurance Company Summary
7.8.2 Liberty Mutual Insurance Business Overview
7.8.3 Liberty Mutual Insurance Usage-Based Insurance Major Product Offerings
7.8.4 Liberty Mutual Insurance Usage-Based Insurance Revenue in Global Market (2018-2023)
7.8.5 Liberty Mutual Insurance Key News & Latest Developments
7.9 AIOI
7.9.1 AIOI Company Summary
7.9.2 AIOI Business Overview
7.9.3 AIOI Usage-Based Insurance Major Product Offerings
7.9.4 AIOI Usage-Based Insurance Revenue in Global Market (2018-2023)
7.9.5 AIOI Key News & Latest Developments
7.10 QBE
7.10.1 QBE Company Summary
7.10.2 QBE Business Overview
7.10.3 QBE Usage-Based Insurance Major Product Offerings
7.10.4 QBE Usage-Based Insurance Revenue in Global Market (2018-2023)
7.10.5 QBE Key News & Latest Developments
8 Conclusion
9 Appendix
9.1 Note
9.2 Examples of Clients
9.3 Disclaimer
LIST OF TABLES & FIGURES
List of Tables
Table 1. Usage-Based Insurance Market Opportunities & Trends in Global Market
Table 2. Usage-Based Insurance Market Drivers in Global Market
Table 3. Usage-Based Insurance Market Restraints in Global Market
Table 4. Key Players of Usage-Based Insurance in Global Market
Table 5. Top Usage-Based Insurance Players in Global Market, Ranking by Revenue (2022)
Table 6. Global Usage-Based Insurance Revenue by Companies, (US$, Mn), 2018-2023
Table 7. Global Usage-Based Insurance Revenue Share by Companies, 2018-2023
Table 8. Global Companies Usage-Based Insurance Product Type
Table 9. List of Global Tier 1 Usage-Based Insurance Companies, Revenue (US$, Mn) in 2022 and Market Share
Table 10. List of Global Tier 2 and Tier 3 Usage-Based Insurance Companies, Revenue (US$, Mn) in 2022 and Market Share
Table 11. By Type ? Global Usage-Based Insurance Revenue, (US$, Mn), 2022 & 2029
Table 12. By Type - Usage-Based Insurance Revenue in Global (US$, Mn), 2018-2023
Table 13. By Type - Usage-Based Insurance Revenue in Global (US$, Mn), 2024-2029
Table 14. By Application ? Global Usage-Based Insurance Revenue, (US$, Mn), 2022 & 2029
Table 15. By Application - Usage-Based Insurance Revenue in Global (US$, Mn), 2018-2023
Table 16. By Application - Usage-Based Insurance Revenue in Global (US$, Mn), 2024-2029
Table 17. By Region ? Global Usage-Based Insurance Revenue, (US$, Mn), 2022 & 2029
Table 18. By Region - Global Usage-Based Insurance Revenue (US$, Mn), 2018-2023
Table 19. By Region - Global Usage-Based Insurance Revenue (US$, Mn), 2024-2029
Table 20. By Country - North America Usage-Based Insurance Revenue, (US$, Mn), 2018-2023
Table 21. By Country - North America Usage-Based Insurance Revenue, (US$, Mn), 2024-2029
Table 22. By Country - Europe Usage-Based Insurance Revenue, (US$, Mn), 2018-2023
Table 23. By Country - Europe Usage-Based Insurance Revenue, (US$, Mn), 2024-2029
Table 24. By Region - Asia Usage-Based Insurance Revenue, (US$, Mn), 2018-2023
Table 25. By Region - Asia Usage-Based Insurance Revenue, (US$, Mn), 2024-2029
Table 26. By Country - South America Usage-Based Insurance Revenue, (US$, Mn), 2018-2023
Table 27. By Country - South America Usage-Based Insurance Revenue, (US$, Mn), 2024-2029
Table 28. By Country - Middle East & Africa Usage-Based Insurance Revenue, (US$, Mn), 2018-2023
Table 29. By Country - Middle East & Africa Usage-Based Insurance Revenue, (US$, Mn), 2024-2029
Table 30. MetroMile Company Summary
Table 31. MetroMile Usage-Based Insurance Product Offerings
Table 32. MetroMile Usage-Based Insurance Revenue (US$, Mn) & (2018-2023)
Table 33. MetroMile Key News & Latest Developments
Table 34. Progressive Company Summary
Table 35. Progressive Usage-Based Insurance Product Offerings
Table 36. Progressive Usage-Based Insurance Revenue (US$, Mn) & (2018-2023)
Table 37. Progressive Key News & Latest Developments
Table 38. Allstate Company Summary
Table 39. Allstate Usage-Based Insurance Product Offerings
Table 40. Allstate Usage-Based Insurance Revenue (US$, Mn) & (2018-2023)
Table 41. Allstate Key News & Latest Developments
Table 42. Nationwide Company Summary
Table 43. Nationwide Usage-Based Insurance Product Offerings
Table 44. Nationwide Usage-Based Insurance Revenue (US$, Mn) & (2018-2023)
Table 45. Nationwide Key News & Latest Developments
Table 46. Esurance Company Summary
Table 47. Esurance Usage-Based Insurance Product Offerings
Table 48. Esurance Usage-Based Insurance Revenue (US$, Mn) & (2018-2023)
Table 49. Esurance Key News & Latest Developments
Table 50. Safeco Company Summary
Table 51. Safeco Usage-Based Insurance Product Offerings
Table 52. Safeco Usage-Based Insurance Revenue (US$, Mn) & (2018-2023)
Table 53. Safeco Key News & Latest Developments
Table 54. Travellers Company Summary
Table 55. Travellers Usage-Based Insurance Product Offerings
Table 56. Travellers Usage-Based Insurance Revenue (US$, Mn) & (2018-2023)
Table 57. Travellers Key News & Latest Developments
Table 58. Liberty Mutual Insurance Company Summary
Table 59. Liberty Mutual Insurance Usage-Based Insurance Product Offerings
Table 60. Liberty Mutual Insurance Usage-Based Insurance Revenue (US$, Mn) & (2018-2023)
Table 61. Liberty Mutual Insurance Key News & Latest Developments
Table 62. AIOI Company Summary
Table 63. AIOI Usage-Based Insurance Product Offerings
Table 64. AIOI Usage-Based Insurance Revenue (US$, Mn) & (2018-2023)
Table 65. AIOI Key News & Latest Developments
Table 66. QBE Company Summary
Table 67. QBE Usage-Based Insurance Product Offerings
Table 68. QBE Usage-Based Insurance Revenue (US$, Mn) & (2018-2023)
Table 69. QBE Key News & Latest Developments
List of Figures
Figure 1. Usage-Based Insurance Segment by Type in 2022
Figure 2. Usage-Based Insurance Segment by Application in 2022
Figure 3. Global Usage-Based Insurance Market Overview: 2022
Figure 4. Key Caveats
Figure 5. Global Usage-Based Insurance Market Size: 2022 VS 2029 (US$, Mn)
Figure 6. Global Usage-Based Insurance Revenue, 2018-2029 (US$, Mn)
Figure 7. The Top 3 and 5 Players Market Share by Usage-Based Insurance Revenue in 2022
Figure 8. By Type - Global Usage-Based Insurance Revenue Market Share, 2018-2029
Figure 9. By Application - Global Usage-Based Insurance Revenue Market Share, 2018-2029
Figure 10. By Type - Global Usage-Based Insurance Revenue, (US$, Mn), 2022 & 2029
Figure 11. By Type - Global Usage-Based Insurance Revenue Market Share, 2018-2029
Figure 12. By Application - Global Usage-Based Insurance Revenue, (US$, Mn), 2022 & 2029
Figure 13. By Application - Global Usage-Based Insurance Revenue Market Share, 2018-2029
Figure 14. By Region - Global Usage-Based Insurance Revenue Market Share, 2018-2029
Figure 15. By Country - North America Usage-Based Insurance Revenue Market Share, 2018-2029
Figure 16. US Usage-Based Insurance Revenue, (US$, Mn), 2018-2029
Figure 17. Canada Usage-Based Insurance Revenue, (US$, Mn), 2018-2029
Figure 18. Mexico Usage-Based Insurance Revenue, (US$, Mn), 2018-2029
Figure 19. By Country - Europe Usage-Based Insurance Revenue Market Share, 2018-2029
Figure 20. Germany Usage-Based Insurance Revenue, (US$, Mn), 2018-2029
Figure 21. France Usage-Based Insurance Revenue, (US$, Mn), 2018-2029
Figure 22. U.K. Usage-Based Insurance Revenue, (US$, Mn), 2018-2029
Figure 23. Italy Usage-Based Insurance Revenue, (US$, Mn), 2018-2029
Figure 24. Russia Usage-Based Insurance Revenue, (US$, Mn), 2018-2029
Figure 25. Nordic Countries Usage-Based Insurance Revenue, (US$, Mn), 2018-2029
Figure 26. Benelux Usage-Based Insurance Revenue, (US$, Mn), 2018-2029
Figure 27. By Region - Asia Usage-Based Insurance Revenue Market Share, 2018-2029
Figure 28. China Usage-Based Insurance Revenue, (US$, Mn), 2018-2029
Figure 29. Japan Usage-Based Insurance Revenue, (US$, Mn), 2018-2029
Figure 30. South Korea Usage-Based Insurance Revenue, (US$, Mn), 2018-2029
Figure 31. Southeast Asia Usage-Based Insurance Revenue, (US$, Mn), 2018-2029
Figure 32. India Usage-Based Insurance Revenue, (US$, Mn), 2018-2029
Figure 33. By Country - South America Usage-Based Insurance Revenue Market Share, 2018-2029
Figure 34. Brazil Usage-Based Insurance Revenue, (US$, Mn), 2018-2029
Figure 35. Argentina Usage-Based Insurance Revenue, (US$, Mn), 2018-2029
Figure 36. By Country - Middle East & Africa Usage-Based Insurance Revenue Market Share, 2018-2029
Figure 37. Turkey Usage-Based Insurance Revenue, (US$, Mn), 2018-2029
Figure 38. Israel Usage-Based Insurance Revenue, (US$, Mn), 2018-2029
Figure 39. Saudi Arabia Usage-Based Insurance Revenue, (US$, Mn), 2018-2029
Figure 40. UAE Usage-Based Insurance Revenue, (US$, Mn), 2018-2029
Figure 41. MetroMile Usage-Based Insurance Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 42. Progressive Usage-Based Insurance Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 43. Allstate Usage-Based Insurance Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 44. Nationwide Usage-Based Insurance Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 45. Esurance Usage-Based Insurance Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 46. Safeco Usage-Based Insurance Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 47. Travellers Usage-Based Insurance Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 48. Liberty Mutual Insurance Usage-Based Insurance Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 49. AIOI Usage-Based Insurance Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 50. QBE Usage-Based Insurance Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
