Summary

Automotive Usage-Based Insurance Market 2024-2028
The automotive usage-based insurance market is forecasted to grow by USD 67.51 bn during 2023-2028, accelerating at a CAGR of 25.1% during the forecast period. The report on the automotive usage-based insurance market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by flexible pricing schemes of automotive UBI, increasing government regulations for insurance coverage, and the presence of a conducive technology environment for the automotive industry.
Technavio's automotive usage-based insurance market is segmented as below:
By Application
• Embedded UBI
• App-based UBI
By Pricing Scheme
• PHYD
• PAYD
• MHYD
By Geographical Landscape
• Europe
• North America
• APAC
• Middle East and Africa
• South America
This study identifies the increasing adoption of automotive usage-based insurance for better driving habits as one of the prime reasons driving the automotive usage-based insurance market growth during the next few years. Also, the growing application of automotive UBI in accident investigation and recovery of stolen vehicles and the emergence of smartphone-enabled UBI will lead to sizable demand in the market.
The report on the automotive usage-based insurance market covers the following areas:
• Automotive usage-based insurance market sizing
• Automotive usage-based insurance market forecast
• Automotive usage-based insurance market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive usage-based insurance market vendors that include AXA Group, ACKO General Insurance Ltd., Allianz SE, Aviva Insurance Ltd., Desjardins Group, Discovery Ltd., Direct Line Insurance Group Plc, GEICO, HDFC Bank Ltd., Lemonade Inc., Liberty Mutual Insurance Co., Mile Auto Inc., Nationwide Mutual Insurance Co., Root Inc., The Allstate Corp., The Progressive Corp., The Travelers Co. Inc., USAA, Verizon Communications Inc., and Zurich Insurance Co. Ltd. Also, the automotive usage-based insurance market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors. For further information on this report, please visit - https://www.technavio.com/report/automotive-usage-based-insurance-market-industry-analysis
The publisher presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.

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Table of Contents

- 1 Executive Summary
o 1.1 Market overview
o Exhibit 01: Executive Summary - Chart on Market Overview
o Exhibit 02: Executive Summary - Data Table on Market Overview
o Exhibit 03: Executive Summary - Chart on Global Market Characteristics
o Exhibit 04: Executive Summary - Chart on Market By Geographical Landscape
o Exhibit 05: Executive Summary - Chart on Market Segmentation by Application
o Exhibit 06: Executive Summary - Chart on Market Segmentation by Pricing Scheme
o Exhibit 07: Executive Summary - Chart on Incremental Growth
o Exhibit 08: Executive Summary - Data Table on Incremental Growth
o Exhibit 09: Executive Summary - Chart on Vendor Market Positioning
- 2 Market Landscape
o 2.1 Market ecosystem
o Exhibit 10: Parent market
o Exhibit 11: Market Characteristics
- 3 Market Sizing
o 3.1 Market definition
o Exhibit 12: Offerings of vendors included in the market definition
o 3.2 Market segment analysis
o Exhibit 13: Market segments
o 3.3 Market size 2023
o 3.4 Market outlook: Forecast for 2023-2028
o Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ billion)
o Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
o Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
o Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)
- 4 Historic Market Size
o 4.1 Global automotive usage-based insurance market 2018 - 2022
o Exhibit 18: Historic Market Size - Data Table on global automotive usage-based insurance market 2018 - 2022 ($ billion)
o 4.2 Application Segment Analysis 2018 - 2022
o Exhibit 19: Historic Market Size - Application Segment 2018 - 2022 ($ billion)
o 4.3 Pricing Scheme Segment Analysis 2018 - 2022
o Exhibit 20: Historic Market Size - Pricing Scheme Segment 2018 - 2022 ($ billion)
o 4.4 Geography Segment Analysis 2018 - 2022
o Exhibit 21: Historic Market Size - Geography Segment 2018 - 2022 ($ billion)
o 4.5 Country Segment Analysis 2018 - 2022
o Exhibit 22: Historic Market Size - Country Segment 2018 - 2022 ($ billion)
- 5 Five Forces Analysis
o 5.1 Five forces summary
o Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
o 5.2 Bargaining power of buyers
o Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
o 5.3 Bargaining power of suppliers
o Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
o 5.4 Threat of new entrants
o Exhibit 26: Threat of new entrants - Impact of key factors in 2023 and 2028
o 5.5 Threat of substitutes
o Exhibit 27: Threat of substitutes - Impact of key factors in 2023 and 2028
o 5.6 Threat of rivalry
o Exhibit 28: Threat of rivalry - Impact of key factors in 2023 and 2028
o 5.7 Market condition
o Exhibit 29: Chart on Market condition - Five forces 2023 and 2028
- 6 Market Segmentation by Application
o 6.1 Market segments
o Exhibit 30: Chart on Application - Market share 2023-2028 (%)
o Exhibit 31: Data Table on Application - Market share 2023-2028 (%)
o 6.2 Comparison by Application
o Exhibit 32: Chart on Comparison by Application
o Exhibit 33: Data Table on Comparison by Application
o 6.3 Embedded UBI - Market size and forecast 2023-2028
o Exhibit 34: Chart on Embedded UBI - Market size and forecast 2023-2028 ($ billion)
o Exhibit 35: Data Table on Embedded UBI - Market size and forecast 2023-2028 ($ billion)
o Exhibit 36: Chart on Embedded UBI - Year-over-year growth 2023-2028 (%)
o Exhibit 37: Data Table on Embedded UBI - Year-over-year growth 2023-2028 (%)
o 6.4 App-based UBI - Market size and forecast 2023-2028
o Exhibit 38: Chart on App-based UBI - Market size and forecast 2023-2028 ($ billion)
o Exhibit 39: Data Table on App-based UBI - Market size and forecast 2023-2028 ($ billion)
o Exhibit 40: Chart on App-based UBI - Year-over-year growth 2023-2028 (%)
o Exhibit 41: Data Table on App-based UBI - Year-over-year growth 2023-2028 (%)
o 6.5 Market opportunity by Application
o Exhibit 42: Market opportunity by Application ($ billion)
o Exhibit 43: Data Table on Market opportunity by Application ($ billion)
- 7 Market Segmentation by Pricing Scheme
o 7.1 Market segments
o Exhibit 44: Chart on Pricing Scheme - Market share 2023-2028 (%)
o Exhibit 45: Data Table on Pricing Scheme - Market share 2023-2028 (%)
o 7.2 Comparison by Pricing Scheme
o Exhibit 46: Chart on Comparison by Pricing Scheme
o Exhibit 47: Data Table on Comparison by Pricing Scheme
o 7.3 PHYD - Market size and forecast 2023-2028
o Exhibit 48: Chart on PHYD - Market size and forecast 2023-2028 ($ billion)
o Exhibit 49: Data Table on PHYD - Market size and forecast 2023-2028 ($ billion)
o Exhibit 50: Chart on PHYD - Year-over-year growth 2023-2028 (%)
o Exhibit 51: Data Table on PHYD - Year-over-year growth 2023-2028 (%)
o 7.4 PAYD - Market size and forecast 2023-2028
o Exhibit 52: Chart on PAYD - Market size and forecast 2023-2028 ($ billion)
o Exhibit 53: Data Table on PAYD - Market size and forecast 2023-2028 ($ billion)
o Exhibit 54: Chart on PAYD - Year-over-year growth 2023-2028 (%)
o Exhibit 55: Data Table on PAYD - Year-over-year growth 2023-2028 (%)
o 7.5 MHYD - Market size and forecast 2023-2028
o Exhibit 56: Chart on MHYD - Market size and forecast 2023-2028 ($ billion)
o Exhibit 57: Data Table on MHYD - Market size and forecast 2023-2028 ($ billion)
o Exhibit 58: Chart on MHYD - Year-over-year growth 2023-2028 (%)
o Exhibit 59: Data Table on MHYD - Year-over-year growth 2023-2028 (%)
o 7.6 Market opportunity by Pricing Scheme
o Exhibit 60: Market opportunity by Pricing Scheme ($ billion)
o Exhibit 61: Data Table on Market opportunity by Pricing Scheme ($ billion)
- 8 Customer Landscape
o 8.1 Customer landscape overview
o Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- 9 Geographic Landscape
o 9.1 Geographic segmentation
o Exhibit 63: Chart on Market share By Geographical Landscape 2023-2028 (%)
o Exhibit 64: Data Table on Market share By Geographical Landscape 2023-2028 (%)
o 9.2 Geographic comparison
o Exhibit 65: Chart on Geographic comparison
o Exhibit 66: Data Table on Geographic comparison
o 9.3 Europe - Market size and forecast 2023-2028
o Exhibit 67: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
o Exhibit 68: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
o Exhibit 69: Chart on Europe - Year-over-year growth 2023-2028 (%)
o Exhibit 70: Data Table on Europe - Year-over-year growth 2023-2028 (%)
o 9.4 North America - Market size and forecast 2023-2028
o Exhibit 71: Chart on North America - Market size and forecast 2023-2028 ($ billion)
o Exhibit 72: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
o Exhibit 73: Chart on North America - Year-over-year growth 2023-2028 (%)
o Exhibit 74: Data Table on North America - Year-over-year growth 2023-2028 (%)
o 9.5 APAC - Market size and forecast 2023-2028
o Exhibit 75: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
o Exhibit 76: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
o Exhibit 77: Chart on APAC - Year-over-year growth 2023-2028 (%)
o Exhibit 78: Data Table on APAC - Year-over-year growth 2023-2028 (%)
o 9.6 Middle East and Africa - Market size and forecast 2023-2028
o Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
o Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
o Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
o Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
o 9.7 South America - Market size and forecast 2023-2028
o Exhibit 83: Chart on South America - Market size and forecast 2023-2028 ($ billion)
o Exhibit 84: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
o Exhibit 85: Chart on South America - Year-over-year growth 2023-2028 (%)
o Exhibit 86: Data Table on South America - Year-over-year growth 2023-2028 (%)
o 9.8 US - Market size and forecast 2023-2028
o Exhibit 87: Chart on US - Market size and forecast 2023-2028 ($ billion)
o Exhibit 88: Data Table on US - Market size and forecast 2023-2028 ($ billion)
o Exhibit 89: Chart on US - Year-over-year growth 2023-2028 (%)
o Exhibit 90: Data Table on US - Year-over-year growth 2023-2028 (%)
o 9.9 Germany - Market size and forecast 2023-2028
o Exhibit 91: Chart on Germany - Market size and forecast 2023-2028 ($ billion)
o Exhibit 92: Data Table on Germany - Market size and forecast 2023-2028 ($ billion)
o Exhibit 93: Chart on Germany - Year-over-year growth 2023-2028 (%)
o Exhibit 94: Data Table on Germany - Year-over-year growth 2023-2028 (%)
o 9.10 UK - Market size and forecast 2023-2028
o Exhibit 95: Chart on UK - Market size and forecast 2023-2028 ($ billion)
o Exhibit 96: Data Table on UK - Market size and forecast 2023-2028 ($ billion)
o Exhibit 97: Chart on UK - Year-over-year growth 2023-2028 (%)
o Exhibit 98: Data Table on UK - Year-over-year growth 2023-2028 (%)
o 9.11 Canada - Market size and forecast 2023-2028
o Exhibit 99: Chart on Canada - Market size and forecast 2023-2028 ($ billion)
o Exhibit 100: Data Table on Canada - Market size and forecast 2023-2028 ($ billion)
o Exhibit 101: Chart on Canada - Year-over-year growth 2023-2028 (%)
o Exhibit 102: Data Table on Canada - Year-over-year growth 2023-2028 (%)
o 9.12 France - Market size and forecast 2023-2028
o Exhibit 103: Chart on France - Market size and forecast 2023-2028 ($ billion)
o Exhibit 104: Data Table on France - Market size and forecast 2023-2028 ($ billion)
o Exhibit 105: Chart on France - Year-over-year growth 2023-2028 (%)
o Exhibit 106: Data Table on France - Year-over-year growth 2023-2028 (%)
o 9.13 Market opportunity By Geographical Landscape
o Exhibit 107: Market opportunity By Geographical Landscape ($ billion)
o Exhibit 108: Data Tables on Market opportunity By Geographical Landscape ($ billion)
- 10 Drivers, Challenges, and Trends
o 10.1 Market drivers
o 10.2 Market challenges
o 10.3 Impact of drivers and challenges
o Exhibit 109: Impact of drivers and challenges in 2023 and 2028
o 10.4 Market trends
- 11 Vendor Landscape
o 11.1 Overview
o 11.2 Vendor landscape
o Exhibit 110: Overview on Criticality of inputs and Factors of differentiation
o 11.3 Landscape disruption
o Exhibit 111: Overview on factors of disruption
o 11.4 Industry risks
o Exhibit 112: Impact of key risks on business
- 12 Vendor Analysis
o 12.1 Vendors covered
o Exhibit 113: Vendors covered
o 12.2 Market positioning of vendors
o Exhibit 114: Matrix on vendor position and classification
o 12.3 AXA Group
o Exhibit 115: AXA Group - Overview
o Exhibit 116: AXA Group - Business segments
o Exhibit 117: AXA Group - Key news
o Exhibit 118: AXA Group - Key offerings
o Exhibit 119: AXA Group - Segment focus
o 12.4 Allianz SE
o Exhibit 120: Allianz SE - Overview
o Exhibit 121: Allianz SE - Business segments
o Exhibit 122: Allianz SE - Key news
o Exhibit 123: Allianz SE - Key offerings
o Exhibit 124: Allianz SE - Segment focus
o 12.5 Aviva insurance Ltd.
o Exhibit 125: Aviva insurance Ltd. - Overview
o Exhibit 126: Aviva insurance Ltd. - Business segments
o Exhibit 127: Aviva insurance Ltd. - Key news
o Exhibit 128: Aviva insurance Ltd. - Key offerings
o Exhibit 129: Aviva insurance Ltd. - Segment focus
o 12.6 Desjardins Group
o Exhibit 130: Desjardins Group - Overview
o Exhibit 131: Desjardins Group - Business segments
o Exhibit 132: Desjardins Group - Key offerings
o Exhibit 133: Desjardins Group - Segment focus
o 12.7 Direct Line Insurance Group Plc
o Exhibit 134: Direct Line Insurance Group Plc - Overview
o Exhibit 135: Direct Line Insurance Group Plc - Business segments
o Exhibit 136: Direct Line Insurance Group Plc - Key news
o Exhibit 137: Direct Line Insurance Group Plc - Key offerings
o Exhibit 138: Direct Line Insurance Group Plc - Segment focus
o 12.8 Discovery Ltd.
o Exhibit 139: Discovery Ltd. - Overview
o Exhibit 140: Discovery Ltd. - Business segments
o Exhibit 141: Discovery Ltd. - Key offerings
o Exhibit 142: Discovery Ltd. - Segment focus
o 12.9 GEICO
o Exhibit 143: GEICO - Overview
o Exhibit 144: GEICO - Product / Service
o Exhibit 145: GEICO - Key offerings
o 12.10 Lemonade Inc.
o Exhibit 146: Lemonade Inc. - Overview
o Exhibit 147: Lemonade Inc. - Product / Service
o Exhibit 148: Lemonade Inc. - Key offerings
o 12.11 Liberty Mutual Insurance Co.
o Exhibit 149: Liberty Mutual Insurance Co. - Overview
o Exhibit 150: Liberty Mutual Insurance Co. - Business segments
o Exhibit 151: Liberty Mutual Insurance Co. - Key offerings
o Exhibit 152: Liberty Mutual Insurance Co. - Segment focus
o 12.12 Nationwide Mutual Insurance Co.
o Exhibit 153: Nationwide Mutual Insurance Co. - Overview
o Exhibit 154: Nationwide Mutual Insurance Co. - Product / Service
o Exhibit 155: Nationwide Mutual Insurance Co. - Key offerings
o 12.13 The Allstate Corp.
o Exhibit 156: The Allstate Corp. - Overview
o Exhibit 157: The Allstate Corp. - Business segments
o Exhibit 158: The Allstate Corp. - Key offerings
o Exhibit 159: The Allstate Corp. - Segment focus
o 12.14 The Progressive Corp.
o Exhibit 160: The Progressive Corp. - Overview
o Exhibit 161: The Progressive Corp. - Product / Service
o Exhibit 162: The Progressive Corp. - Key offerings
o 12.15 The Travelers Co. Inc.
o Exhibit 163: The Travelers Co. Inc. - Overview
o Exhibit 164: The Travelers Co. Inc. - Business segments
o Exhibit 165: The Travelers Co. Inc. - Key offerings
o Exhibit 166: The Travelers Co. Inc. - Segment focus
o 12.16 USAA
o Exhibit 167: USAA - Overview
o Exhibit 168: USAA - Product / Service
o Exhibit 169: USAA - Key offerings
o 12.17 Zurich Insurance Co. Ltd.
o Exhibit 170: Zurich Insurance Co. Ltd. - Overview
o Exhibit 171: Zurich Insurance Co. Ltd. - Business segments
o Exhibit 172: Zurich Insurance Co. Ltd. - Key offerings
o Exhibit 173: Zurich Insurance Co. Ltd. - Segment focus
- 13 Appendix
o 13.1 Scope of the report
o 13.2 Inclusions and exclusions checklist
o Exhibit 174: Inclusions checklist
o Exhibit 175: Exclusions checklist
o 13.3 Currency conversion rates for US$
o Exhibit 176: Currency conversion rates for US$
o 13.4 Research methodology
o Exhibit 177: Research methodology
o Exhibit 178: Validation techniques employed for market sizing
o Exhibit 179: Information sources
o 13.5 List of abbreviations
o Exhibit 180: List of abbreviations