Usage-Based Insurance Market Size, Share, Trends, Growth 2032
Usage-Based Insurance Market By Technology (Blackbox, Smartphone, Embedded Telematics, and OBD-II), By Package (Pay-How-You-Drive (PHYD) and Pay-As-You-Drive (PAYD) [Telematics-Based and Device-Based]), By Vehicle Technology (Commercial Vehicle and Passenger Vehicle), and By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024 - 2032
| Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
|---|---|---|---|
| USD 33.27 Billion | USD 232.94 Billion | 24.14% | 2023 |
Table Of Content
- Chapter 1. Preface
- 1.1. Report Description and Scope
- 1.2. Research Scope
- 1.3. Research Methodology
- 1.3.1. Market Research Process
- 1.3.2. Market Research Methodology
- Chapter 2. Executive Summary
- 2.1. Usage-Based Insurance Market, 2016–2025 (USD Billion)
- 2.2. Usage-Based Insurance Market: Snapshot
- Chapter 3. Global Usage-Based Insurance Market– Industry Analysis
- 3.1. Usage-Based Insurance Market: Market Dynamics
- 3.2. Market Drivers
- 3.2.1. Escalating demand for usage-based insurance technologies
- 3.2.2. Thriving automotive sector and growing car telematics usage
- 3.3. Porter’s Five Forces Analysis
- 3.4. Market Attractiveness Analysis
- 3.4.1. Market attractiveness analysis By Technology
- 3.4.2. Market attractiveness analysis By Package
- 3.4.3. Market attractiveness analysis By Vehicle Type
- Chapter 4. Global Usage-Based Insurance Market– Competitive Landscape
- 4.1. Company market share analysis
- 4.1.1. Global Usage-Based Insurance Market: company market share, 2018
- 4.2. Strategic development
- 4.2.1. Acquisitions & mergers
- 4.2.2. New Vehicle launches
- 4.2.3. Agreements, partnerships, collaborations, and joint ventures
- 4.2.4. Research and development and Regional expansion
- 4.3. Price trend analysis
- 4.1. Company market share analysis
- Chapter 5. Global Usage-Based Insurance Market– Technology Analysis
- 5.1. Global Usage-Based Insurance Market overview: By Technology
- 5.1.1. Global Usage-Based Insurance Market share, By Technology,2018 and 2025
- 5.2. Blackbox
- 5.2.1. Global Usage-Based Insurance Market by Blackbox, 2016–2025 (USD Billion)
- 5.3. OBD-II
- 5.3.1. Global Usage-Based Insurance Market by OBD-II, 2016–2025 (USD Billion)
- 5.4. Smartphone
- 5.4.1. Global Usage-Based Insurance Market by Smartphone , 2016–2025 (USD Billion)
- 5.5. Embedded Telematics
- 5.5.1. Global Usage-Based Insurance Market by Embedded Telematics, 2016–2025 (USD Billion)
- 5.1. Global Usage-Based Insurance Market overview: By Technology
- Chapter 6. Global Usage-Based Insurance Market– Package Analysis
- 6.1. Global Usage-Based Insurance Market overview: By Package
- 6.1.1. Global Usage-Based Insurance Market share, By Package , 2018 and 2025
- 6.2. Pay-How-You-Drive (PHYD)
- 6.2.1. Global Usage-Based Insurance Market By Pay-How-You-Drive (PHYD), 2016–2025 (USD Billion)
- 6.3. Pay-As-You-Drive (PAYD)
- 6.3.1. Global Usage-Based Insurance Market By Pay-As-You-Drive (PAYD) , 2016–2025 (USD Billion)
- 6.1. Global Usage-Based Insurance Market overview: By Package
- Chapter 7. Global Usage-Based Insurance Market– Vehicle Type Analysis
- 7.1. Global Usage-Based Insurance Market overview: By Vehicle Type
- 7.1.1. Global Usage-Based Insurance Market share, By Vehicle Type, 2018 and 2025
- 7.2. Commercial Vehicle
- 7.2.1. Global Usage-Based Insurance Market By Cut Wire/Cold Drawn, 2016–2025 (USD Billion)
- 7.3. Passenger Vehicle
- 7.3.1. Global Usage-Based Insurance Market By Passenger Vehicle, 2016–2025 (USD Billion)
- 7.1. Global Usage-Based Insurance Market overview: By Vehicle Type
- Chapter 8. Company Profiles
- 8.1. Danlaw, Inc.
- 8.1.1. Overview
- 8.1.2. Financials
- 8.1.3. Product Portfolio
- 8.1.4. Business Strategy
- 8.1.5. Recent Developments
- 8.2. Allianz SE
- 8.2.1. Overview
- 8.2.2. Financials
- 8.2.3. Product Portfolio
- 8.2.4. Business Strategy
- 8.2.5. Recent Developments
- 8.3. Allstate Insurance Company
- 8.3.1. Overview
- 8.3.2. Financials
- 8.3.3. Product Portfolio
- 8.3.4. Business Strategy
- 8.3.5. Recent Developments
- 8.4. Cambridge Mobile Telematics
- 8.4.1. Overview
- 8.4.2. Financials
- 8.4.3. Product Portfolio
- 8.4.4. Business Strategy
- 8.4.5. Recent Developments
- 8.5. UnipolSai Assicurazioni S.p.A
- 8.5.1. Overview
- 8.5.2. Financials
- 8.5.3. Product Portfolio
- 8.5.4. Business Strategy
- 8.5.5. Recent Development
- 8.6. Desjardins Group
- 8.6.1. Overview
- 8.6.2. Financials
- 8.6.3. Product Portfolio
- 8.6.4. Business Strategy
- 8.6.5. Recent Development
- 8.7. Assicurazioni Generali S.P.A
- 8.7.1. Overview
- 8.7.2. Financials
- 8.7.3. Product Portfolio
- 8.7.4. Business Strategy
- 8.7.5. Recent Development
- 8.8. Liberty Mutual Insurance
- 8.8.1. Overview
- 8.8.2. Financials
- 8.8.3. Product Portfolio
- 8.8.4. Business Strategy
- 8.8.5. Recent Development
- 8.9. Mapfre, S.A.
- 8.9.1. Overview
- 8.9.2. Financials
- 8.9.3. Product Portfolio
- 8.9.4. Business Strategy
- 8.9.5. Recent Development
- 8.10. AXA
- 8.10.1. Overview
- 8.10.2. Financials
- 8.10.3. Product Portfolio
- 8.10.4. Business Strategy
- 8.10.5. Recent Development
- 8.11. Metromile Inc
- 8.11.1. Overview
- 8.11.2. Financials
- 8.11.3. Product Portfolio
- 8.11.4. Business Strategy
- 8.11.5. Recent Development
- 8.12. Intelligent Mechatronic Systems Inc
- 8.12.1. Overview
- 8.12.2. Financials
- 8.12.3. Product Portfolio
- 8.12.4. Business Strategy
- 8.12.5. Recent Development
- 8.13. Octo Technology Nationwide
- 8.13.1. Overview
- 8.13.2. Financials
- 8.13.3. Product Portfolio
- 8.13.4. Business Strategy
- 8.13.5. Recent Development
- 8.14. State Farm Mutual Automobile Insurance Company
- 8.14.1. Overview
- 8.14.2. Financials
- 8.14.3. Product Portfolio
- 8.14.4. Business Strategy
- 8.14.5. Recent Development
- 8.15. Insure The Box Limited
- 8.15.1. Overview
- 8.15.2. Financials
- 8.15.3. Product Portfolio
- 8.15.4. Business Strategy
- 8.15.5. Recent Development
- 8.16. Progressive Casualty Insurance Company
- 8.16.1. Overview
- 8.16.2. Financials
- 8.16.3. Product Portfolio
- 8.16.4. Business Strategy
- 8.16.5. Recent Development
- 8.17. TomTom International BV
- 8.17.1. Overview
- 8.17.2. Financials
- 8.17.3. Product Portfolio
- 8.17.4. Business Strategy
- 8.17.5. Recent Development
- 8.18. Sierra Wireless
- 8.18.1. Overview
- 8.18.2. Financials
- 8.18.3. Product Portfolio
- 8.18.4. Business Strategy
- 8.18.5. Recent Development
- 8.19. Zubie, Inc.
- 8.19.1. Overview
- 8.19.2. Financials
- 8.19.3. Product Portfolio
- 8.19.4. Business Strategy
- 8.19.5. Recent Development
- 8.20. Vodafone Automotive S.p.A.
- 8.20.1. Overview
- 8.20.2. Financials
- 8.20.3. Product Portfolio
- 8.20.4. Business Strategy
- 8.20.5. Recent Development
- 8.1. Danlaw, Inc.
Table Of Figures
List of Figures
1. Market research process
2. Market research methodology
3. Global Usage-Based Insurance Market, 2016–2025 (USD Billion)
4. Porter’s Five Forces Analysis
5. Global Usage-Based Insurance Market attractiveness, By Technology
6. Global Usage-Based Insurance Market attractiveness, By Package
7. Global Usage-Based Insurance Market attractiveness, By Vehicle Type
8. Global Usage-Based Insurance Market share, By Technology, 2018 and 2025
9. Global Usage-Based Insurance Market by Blackbox, 2016–2025 (USD Billion)
10. Global Usage-Based Insurance Market by OBD-II,2016–2025 (USD Billion)
11. Global Usage-Based Insurance Market by Smartphone ,2016–2025 (USD Billion)
12. Global Usage-Based Insurance Market by Embedded Telematics,2016–2025 (USD Billion)
13. Global Usage-Based Insurance Market Share by Package ,2018 and 2025 (USD Billion)
14. Global Usage-Based Insurance Market by Pay-How-You-Drive (PHYD),2016–2025 (USD Billion)
15. Global Usage-Based Insurance Market by Pay-As-You-Drive (PAYD) ,2016–2025 (USD Billion)
16. Global Usage-Based Insurance Market Share By Vehicle Type,2018 and 2025 (USD Billion)
17. Global Usage-Based Insurance Market by Commercial Vehicle,2016–2025 (USD Billion)
18. Global Usage-Based Insurance Market, By Passenger Vehicle, 2016–2025 (USD Billion)
19. Global Usage-Based Insurance Market share, by Region, 2018 and 2025
20. North America Usage-Based Insurance Market, 2016–2025 (USD Billion)
21. Europe Usage-Based Insurance Market, 2016–2025 (USD Billion)
22. Asia Pacific Usage-Based Insurance Market, 2016–2025 (USD Billion)
23. Latin America Usage-Based Insurance Market, 2016–2025 (USD Billion)
24. The Middle East and Africa Usage-Based Insurance Market, 2016–2025 (USD Billion)
Table Of Tables
List of Tables
1. Global Usage-Based Insurance Market: snapshot
2. Drivers of the Usage-Based Insurance Market: impact analysis
3. North America Usage-Based Insurance Market revenue, By Technology,2016–2025 (USD Billion)
4. North America Usage-Based Insurance Market revenue, By Package , 2016–2025 (USD Billion)
5. North America Usage-Based Insurance Market Revenue, By Vehicle Type, 2016–2025 (USD Billion)
6. The U.S. Usage-Based Insurance Market revenue, By Technology, 2016–2025 (USD Billion)
7. The U.S. Usage-Based Insurance Market revenue, By Package , 2016–2025 (USD Billion)
8. The U.S. Usage-Based Insurance Market Revenue, By Vehicle Type, 2016–2025 (USD Billion)
9. Rest of North America Usage-Based Insurance Market revenue, By Technology,2016–2025 (USD Billion)
10. Rest of North America Usage-Based Insurance Market revenue, By Package , 2016–2025 (USD Billion)
11. Rest of North America Usage-Based Insurance Market Revenue, By Vehicle Type, 2016–2025 (USD Billion)
12. Europe Usage-Based Insurance Market revenue, By Technology, 2016–2025 (USD Billion)
13. Europe Usage-Based Insurance Market revenue, By Package , 2016–2025 (USD Billion)
14. Europe Usage-Based Insurance Market Revenue, By Vehicle Type, 2016–2025 (USD Billion)
15. UK Usage-Based Insurance Market revenue, By Technology ,2016–2025 (USD Billion)
16. UK Usage-Based Insurance Market revenue, By Package , 2016–2025 (USD Billion)
17. UK Usage-Based Insurance Market Revenue, By Vehicle Type, 2016–2025 (USD Billion)
18. France Usage-Based Insurance Market revenue, By Technology,2016–2025 (USD Billion)
19. France Usage-Based Insurance Market revenue, By Package , 2016–2025 (USD Billion)
20. France Usage-Based Insurance Market Revenue, By Vehicle Type, 2016–2025 (USD Billion)
21. Germany Usage-Based Insurance Market revenue, By Technology,2016–2025 (USD Billion)
22. Germany Usage-Based Insurance Market revenue, By Package , 2016–2025 (USD Billion)
23. Germany Usage-Based Insurance Market Revenue, By Vehicle Type, 2016–2025 (USD Billion)
24. Rest of Europe Usage-Based Insurance Market revenue, By Technology,2016–2025 (USD Billion)
25. Rest of Europe Usage-Based Insurance Market revenue, By Package , 2016–2025 (USD Billion)
26. Rest of Europe Usage-Based Insurance Market Revenue, By Vehicle Type, 2016–2025 (USD Billion)
27. Asia Pacific Usage-Based Insurance Market revenue, By Technology,2016–2025 (USD Billion)
28. Asia Pacific Usage-Based Insurance Market revenue, By Package , 2016–2025 (USD Billion)
29. Asia Pacific Usage-Based Insurance Market Revenue, By Vehicle Type, 2016–2025 (USD Billion)
30. China Usage-Based Insurance Market revenue, By Technology,2016–2025 (USD Billion)
31. China Usage-Based Insurance Market revenue, By Package , 2016–2025 (USD Billion)
32. China Usage-Based Insurance Market Revenue, By Vehicle Type, 2016–2025 (USD Billion)
33. Japan Usage-Based Insurance Market revenue, By Technology, 2016–2025 (USD Billion)
34. Japan Usage-Based Insurance Market revenue, By Package , 2016–2025 (USD Billion)
35. Japan Usage-Based Insurance Market Revenue, By Vehicle Type, 2016–2025 (USD Billion)
36. India Usage-Based Insurance Market revenue, By Technology,2016–2025 (USD Billion)
37. India Usage-Based Insurance Market revenue, By Package , 2016–2025 (USD Billion)
38. India Usage-Based Insurance Market Revenue, By Vehicle Type, 2016–2025 (USD Billion)
39. Rest of Asia Pacific Usage-Based Insurance Market revenue, By Technology,2016–2025 (USD Billion)
40. Rest of Asia Pacific Usage-Based Insurance Market revenue, By Package , 2016–2025 (USD Billion)
41. Rest of Asia Pacific Usage-Based Insurance Market Revenue, By Vehicle Type, 2016–2025 (USD Billion)
42. Latin America Usage-Based Insurance Market revenue, By Technology,2016–2025 (USD Billion)
43. Latin America Usage-Based Insurance Market revenue, By Package , 2016–2025 (USD Billion)
44. Latin America Usage-Based Insurance Market Revenue, By Vehicle Type, 2016–2025 (USD Billion)
45. Brazil Usage-Based Insurance Market revenue, By Technology,2016–2025 (USD Billion)
46. Brazil Usage-Based Insurance Market revenue, By Package , 2016–2025 (USD Billion)
47. Brazil Usage-Based Insurance Market Revenue, By Vehicle Type, 2016–2025 (USD Billion)
48. Rest of Latin America Usage-Based Insurance Market revenue, By Technology,2016–2025 (USD Billion)
49. Rest of Latin America Usage-Based Insurance Market revenue, By Package , 2016–2025 (USD Billion)
50. Rest of Latin America Usage-Based Insurance Market Revenue, By Vehicle Type, 2016–2025 (USD Billion)
51. The Middle East and Africa Usage-Based Insurance Market revenue, By Technology,2016–2025 (USD Billion)
52. The Middle East and Africa Usage-Based Insurance Market revenue, By Package , 2016–2025 (USD Billion)
53. The Middle East and Africa Usage-Based Insurance Market Revenue, By Vehicle Type, 2016–2025 (USD Billion)
54. Saudi Arabia Usage-Based Insurance Market revenue, By Technology, 2016–2025 (USD Billion)
55. Saudi Arabia Usage-Based Insurance Market revenue, By Package , 2016–2025 (USD Billion)
56. Saudi Arabia Usage-Based Insurance Market revenue, By Vehicle Type, 2016–2025 (USD Billion)
57. South Africa Usage-Based Insurance Market revenue, By Technology,2016–2025 (USD Billion)
58. South Africa Usage-Based Insurance Market revenue, By Package , 2016–2025 (USD Billion)
59. South Africa Usage-Based Insurance Market Revenue, By Vehicle Type, 2016–2025 (USD Billion)
60. Rest of the Middle East & Africa Usage-Based Insurance Market revenue, By Technology,2016–2025 (USD Billion)
61. Rest of the Middle East & Africa Usage-Based Insurance Market revenue, By Package , 2016–2025 (USD Billion)
62. Rest of the Middle East & Africa Usage-Based Insurance Market Revenue, By Vehicle Type, 2016–2025 (USD Billion)
Methodology
FrequentlyAsked Questions
Usage-based insurance (UBI) is a form of auto insurance that determines premiums by analyzing an individual's driving habits, rather than conventional factors such as credit scores or demographics. Telematics technology is utilized by UBI to monitor vehicle behaviors, including distance traveled, speed, braking patterns, and time of day.
A significant factor contributing to the expansion of the UBI market is the growing prevalence of telematics devices and Internet of Things (IoT) technologies in vehicles, which collect real-time data on driving behavior.
According to a report from Zion Market Research, the global Usage-Based Insurance Market was valued at USD 33.27 Billion in 2023 and is projected to hit USD 232.94 Billion by 2032.
According to a report from Zion Market Research, the global Usage-Based Insurance Market a compound annual growth rate (CAGR) of 24.14% during the forecast period 2024-2032.
The growth of the markets in these regions over the forecast timeline is attributed to large-scale introduction of insurance telematics schemes in countries like Brazil, South Africa, and Argentina.
Key players involved in the usage-based insurance business and profiled in the usage-based insurance market report include Danlaw, Inc., Allianz SE, Allstate Insurance Company, Cambridge Mobile Telematics, UnipolSai Assicurazioni S.p.A, Desjardins Group, Assicurazioni Generali S.P.A, Liberty Mutual Insurance, Mapfre, S.A., AXA, Metromile Inc, Intelligent Mechatronic Systems Inc, Octo Technology Nationwide, State Farm Mutual Automobile Insurance Company, Insure The Box Limited, Progressive Casualty Insurance Company, TomTom International BV, Sierra Wireless, Zubie, Inc., and Vodafone Automotive S.p.A.
RelatedNews
Zion Market Research
Tel: +1 (302) 444-0166
USA/Canada Toll Free No.+1 (855) 465-4651
3rd Floor,
Mrunal Paradise, Opp Maharaja Hotel,
Pimple Gurav, Pune 411061,
Maharashtra, India
Phone No +91 7768 006 007, +91 7768 006 008
US OFFICE NO +1 (302) 444-0166
US/CAN TOLL FREE +1 (855) 465-4651
Email: sales@zionmarketresearch.com
We have secured system to process your transaction.
Our support available to help you 24 hours a day, five days a week.
Monday - Friday: 9AM - 6PM
Saturday - Sunday: Closed