The Usage-Based Insurance Market report by Allied Market Research, includes the study of dynamic factors that directly impact the market growth, which involves drivers, restraints, challenges, and opportunities. The report offers a detailed study of market players and their business strategies to aid shareholders, new business entrants, and stakeholders make informed decisions regarding their investments.
According to a recent report published by Allied Market Research, titled, “Usage-Based Insurance Market by Type, Technology, Vehicle Age and Vehicle Type: Opportunity Analysis and Industry Forecast, 2020–2027,” the global usage-based insurance market size was valued at $28.7 billion in 2019, and is projected to reach $149.2 billion by 2027, growing at a CAGR of 25.10% from 2020 to 2027.
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Usage-based insurance (UBI) is a telematics-based, auto insurance service that monitors cars, trucks, and other commercial or private vehicles, by keeping track of distance covered. The first successfully used telematics was initiated by long-distance truck fleet operators to track and coordinate vehicle movements for operational, maintenance, and other purposes.
The global Usage-Based Insurance Market study covers an in-depth analysis of the market on the basis of several important parameters such as market size, sales, sales analysis, and driving factors. Furthermore, the report includes Porter’s five forces model, financial analysis, portfolio analysis, and business overview of services and products which offers a fair idea about the current market state and the possible future opportunities.
The global Usage-Based Insurance Market report covers the analysis of marketing channels, downstream customer surveys, upstream raw materials, and the latest industry development trends. This analysis provides a piece of essential information regarding raw material suppliers, manufacturing equipment suppliers, prime customers, and major distributors.
Key benefits for stakeholders
- The study provides in-depth analysis of the global Usage-Based Insurance Market share along with the current & future trends to illustrate the imminent investment pockets.
- Information about key drivers, restrains, & opportunities and their impact analysis on the market size are provided in the report.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- An extensive analysis of the key segments of the industry helps to understand the global Usage-Based Insurance Market trends.
- The quantitative analysis of the global Usage-Based Insurance Market from 2020 to 2027 is provided to determine the market potential.
The report is segmented into type, application, and end user. The report outlines the highest-grossing segment and fastest-growing segment which offers an understanding of lucrative opportunities in the market. The Usage-Based Insurance Market study offers a detailed study of the past and current market trends as well as future opportunities. The report offers the study of the market trends and upcoming opportunities that help comprehend the driving factors of the industry. Furthermore, the study provides granular, robust, and qualitative data.
The Usage-Based Insurance Market report covers a detailed analysis of the major market players that are currently active in the market. These players are Allianz SE, Allstate Corporation, Aviva, AXA, Insurethebox, Liberty Mutual Insurance, Mapfre S.A., Nationwide Mutual Insurance Company, Progressive Corporation and UNIPOLSAI ASSICURAZIONI S.P.A.
The study of these companies covers the company overview, price analysis, value chain, and portfolio analysis of services and products. These market players have adopted various strategies such as new product launches, partnerships, joint ventures, and mergers & acquisitions to maintain their Usage-Based Insurance Market position.
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CHAPTER 3: MARKET LANDSCAPE
3.1.MARKET DEFINITION AND SCOPE
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3.PORTER’S FIVE FORCES ANALYSIS
3.3.1.Bargaining power of suppliers
3.3.2.Threat of new entrants
3.3.3.Threat of substitutes
3.3.5.Bargaining power among buyers
3.4.MARKET SHARE ANALYSIS/TOP PLAYER POSITIONING 2019
3.6.COVID-19 impact analysis on usage-based insurance market
3.6.1.Impact on market size
3.6.2.Consumer trends, preferences, and budget impact
3.6.4.Strategies to tackle negative impact
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