Usage-Based Insurance Market to Reach $149.22 Billion by 2027, at 25.1% CAGR

As per the report published by Allied Market Research, the global usage-based insurance market generated $28.75 billion in 2019, and is estimated to reach $149.22 billion by 2027, witnessing a CAGR of 25.1% from 2020 to 2027. Growing adoption among end users and flexible insurance premiums drive the growth of the global usage-based insurance market. However, high installation cost of telematics …

Usage-Based Insurance Market is projected to reach $149.2 billion by 2027.

Usage-Based Insurance Market by Policy Type [Pay-As-You-Drive Insurance (PAYD), Pay-How-You-Drive Insurance (PHYD), and Manage-How-You-Drive Insurance (MHYD)], Technology (OBD-II-Based UBI Programs, Smartphone-Based UBI Programs, Hybrid-Based UBI Programs, and Black-Box-Based UBI Programs), Vehicle Age (New Vehicles and Used Vehicles), Vehicle Type (Light-Duty Vehicle (LDV) and Heavy-Duty Vehicle (HDV)): Global Opportunity Analysis and Industry Forecast, 2020-2027 Growing adoption of …