COVID-19 Impact and Recovery Analysis- Automotive Usage-Based Insurance Market 2020–2024 | Flexible Pricing Schemes To Boost Growth | Technavio
Technavio has been monitoring the automotive usage-based insurance market and it is poised to grow by 37.25 mn units during 2020–2024, progressing at a CAGR of almost 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Latest Free Sample Report on COVID-19 Impact
The market is concentrated, and the degree of concentration will accelerate during the forecast period. Allianz SE, AXA Group, Liberty Mutual Holding Co. Inc., OCTO Group Spa, Sierra Wireless Inc., The Progressive Corp., Trak Global Group, Verizon Communications Inc., Vodafone Group Plc, and Watchstone Group Plc, are some of the major market participants. Although the flexible pricing schemes will offer immense growth opportunities, security issues of telematics in vehicles will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Flexible pricing schemes has been instrumental in driving the growth of the market. However, security issues of telematics in vehicles might hamper market growth.
Automotive Usage-Based Insurance Market 2020–2024 : Segmentation
Automotive Usage-Based Insurance Market is segmented as below:
- Pricing Scheme
- Application
- Geographic Landscape
- Pay-how-you-drive
- Pay-as-you-drive
- Manage-how-you-drive
- Automotive Embedded UBI
- Automotive App-based UBI
- APAC
- Europe
- MEA
- North America
- South America
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Automotive Usage-Based Insurance Market 2020–2024 : Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our automotive usage-based insurance market report covers the following areas:
- Automotive Usage-Based Insurance Market Size
- Automotive Usage-Based Insurance Market Trends
- Automotive Usage-Based Insurance Market Industry Analysis
This study identifies an increase in LTE data connections in cars to support Ethernet adoption as one of the prime reasons driving the automotive usage-based insurance market growth during the next few years.
Automotive Usage-Based Insurance Market 2020–2024 : Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the automotive usage-based insurance market, including some of the vendors such as Allianz SE, AXA Group, Liberty Mutual Holding Co. Inc., OCTO Group Spa, Sierra Wireless Inc., The Progressive Corp., Trak Global Group, Verizon Communications Inc., Vodafone Group Plc, and Watchstone Group Plc. Backed with competitive intelligence and benchmarking, our research reports on the automotive usage-based insurance market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
