Usage-based Insurance Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

By 2021, it is estimated to be $19.6 billion, and by 2028 it is expected to reach $668 billion, an increase of 28% over the forecast period. Usage-Based Insurance (UBI) is a telematics-based auto insurance service that monitors cars, trucks and other commercial or personal vehicles by tracking the distance covered. The first successfully used telematics were launched by long-distance truck drivers to track and coordinate vehicle movement for operations, maintenance, and other purposes.

Company Profile

• Allianz SE
• Allstate Corporation
• Aviva
• AXA 
• Insurethebox 
• Liberty Mutual Insurance
• Mapfre S.A.
• Nationwide Mutual Insurance Company

Market Segmentation

By Package

• PHYD
• PAYD
• Device-based
• Telematics-based

By Technology

• OBD-II
• Smartphone
• Black Box
• Embedded Telematics

By Vehicle Type

• Passenger Vehicle
• OBD-II
• Smartphone
• Black Box
• Embedded Telematics
• Commercial Vehicle

Scope of the Report

The research study analyzes the Usage-based Insurance industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:

Recent Developments

o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

Geographic Coverage

o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

Key Questions Answered by Usage-based Insurance Market Report

1. What was the Usage-based Insurance Market size in 2020 and 2021; what are the estimated growth trends and market forecast (2022-2028).

2. What will be the CAGR of Usage-based Insurance Market during the forecast period (2022-2028)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2022? How these segments are expected to grow during the forecast period (2022-2028).
4. Which manufacturer/vendor/players in the Usage-based Insurance Market was the market leader in 2021?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.