DUBLIN--(BUSINESS WIRE)--The "Usage-based Insurance - Market Analysis, Trends, and Forecasts" report has been added to ResearchAndMarkets.com's offering.
Usage-based Insurance market worldwide is projected to grow by US$68.8 Billion, driven by a compounded growth of 19.6%. PAYD, one of the segments analyzed and sized in this study, displays the potential to grow at over 19.2%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market.
Poised to reach over US$41.3 Billion by the year 2025, PAYD will bring in healthy gains adding significant momentum to global growth.
Representing the developed world, the United States will maintain a 21.1% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over US$2.6 Billion to the region's size and clout in the next 5 to 6 years. Over US$3.3 Billion worth of projected demand in the region will come from Rest of Europe markets.
In Japan, PAYD will reach a market size of US$3.2 Billion by the close of the analysis period. As the world's second largest economy and the new game changer in global markets, China exhibits the potential to grow at 19.2% over the next couple of years and add approximately US$12 Billion in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders.
Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio.
Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Competitors identified in this market include:
- Allianz SE
- Allstate Insurance Company
- Cambridge Mobile Telematics
- Inseego Corporation
- Intelligent Mechatronic Systems, Inc.
- Liberty Mutual Insurance
- Modus Group
- Octo Telematics Ltd.
- Progressive Corporation
- Sierra Wireless, Inc.
- The Floow Ltd.
- TomTom International BV
- Unipolsai Assicurazioni S.P.A.
- Verizon Enterprise Solutions
- Vodafone Group PLC
For more information about this report visit https://www.researchandmarkets.com/r/y8k8ip