LONDON--(BUSINESS WIRE)--According to the latest market research report released by Technavio, the global automotive usage-based insurance market is expected to accelerate at a CAGR of nearly 7% during the forecast period. The flexible pricing scheme is one of the key factors driving the growth of the market.
This research report titled ‘Global Automotive Usage-based Insurance Market 2018-2022’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. It also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global automotive usage-based insurance market into the following geographies:
- North America
In 2017, Europe accounted for 50% of the global market and is projected to decline to 45% by 2022, exhibiting almost 4% decrease in market share.
Global automotive usage-based insurance market: Top emerging trend
Big data platform provided by connected cars to push further developments in UBI is an emerging trend in the automotive usage-based insurance space. The rising connectivity solutions in the automotive industry and the availability of real-time data give a huge opportunity for auto OEMs to develop effective product offerings. The collection of real-time data is expected to grow further owing to the growing adoption of connected cars during the forecast period.
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Technavio’s report provides expert market research on the following topics:
- Market Outline
- Global Automotive Usage-based Insurance Market Overview
- Market Sizing and Forecasts
- Market Growth
- Market Drivers and Challenges
- Key Emerging Trends
Market Segmentation Analysis
- Regional comparison (Europe, North America, and APAC)
- Key leading countries
- Segmentation by application (automotive embedded UBI and automotive app-based UBI)
- Vendor classification
- Market positioning of vendors
- Competitive scenario
- Analysis of top vendors (Allianz, Intelligent Mechatronic Systems, Watchstone Group, Octo Telematics, and Sierra Wireless)
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