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BANGALORE, India, June 26, 2020 /PRNewswire/ -- Usage-based insurance is a telematics-based insurance service in which premiums are based on the driving behavior of consumers. The global Usage-based Insurance market size is projected to reach USD 77.25 Billion by 2026, from USD 25.46 Billion in 2020, at a CAGR of 20.32% during 2020-2026. These insurance policies leverage the latest machine-to-machine technologies to capture dynamic data from in-car devices, enabling insurance providers to set and adjust premiums based on an individual's driving behavior, rather than any claim history. This report also analyses the impact of Coronavirus COVID-19 on the Usage-Based Insurance industry. Get Free Sample Report: https://reports.valuates.com/request/sample/QYRE-Auto-23T2720/COVID_19_Impact_on_Global_Usage_Based_Insurance TRENDS INFLUENCING THE USAGE-BASED INSURANCE MARKET Smartphone and technology-based hybrid approaches play a significant role in driving the growth of the usage-based insurance market. The inclusion of technology makes the processes simpler, with a reduced service cost. Furthermore, the increasing adoption of telematics and connected cars is expected to increase the growth of the usage-based insurance market size. Automotive OEMs are increasingly working with smartphone and tablet manufacturers to deliver products and services that are available in vehicles. The increasing demand for electric vehicles (EVs) has also stimulated the creation of applications that allow consumers to attach their smartphones to their cars to test the vehicle batteries' real-time status. Such factors have led to the growth of app-based Usage-Based Insurance Market size. Usage-based insurance reduces the risk of accidents and theft of vehicles as it tracks driving behavior, supplementing business growth. It is able to detect the missing or stolen vehicles in the telematics system linked to the vehicle by means of GPS. These factors are anticipated to increase the demand for Usage based insurance market size. The insurance companies offering telematics insurance is constantly leveraging on various factors to enhance the solutions and deliver their customers with better schemes. One of the significant trends in the UBI market is the increasing number of partnerships among telematics companies and insurance companies. These partnerships are nourishing the UBI ecosystems in various countries, and the same trend is anticipated to increase the market size in the coming years. View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-23T2720/covid-19-impact-on-global-usage-based-insurance USAGE-BASED INSURANCE MARKET SHARE Based on the region, North America is expected to offer the maximum growth opportunities to vendors during the forecast period. The US is a key market for automotive usage-based insurance in North America. The bundling of Usage-based insurance with other telematics service providers and data pooling will have a positive influence on the growth of the usage-based insurance market size in this region. The Manage-How-You-Drive (MHYD) segment is projected to rise at the fastest pace during the forecast period, as it provides the customers with a higher degree of versatility and independence. Inquire for Regional Report: https://reports.valuates.com/request/regional/QYRE-Auto-23T2720/COVID_19_Impact_on_Global_Usage_Based_Insurance USAGE-BASED INSURANCE MARKET SEGMENTATIONS Usage-Based Insurance Market Breakdown Data by Type Pay-As-You-Drive Insurance (PAYD) Pay-How-You-Drive Insurance (PHYD) Pay-As-You-Go Insurance (PAYG) Distance Based Insurance. Usage-Based Insurance Market Breakdown Data by Application Men Women. The Following Usage-Based Insurance Companies are Covered in This Report: MetroMile Progressive Allstate Nationwide Esurance Safeco Travellers Liberty Mutual Insurance AIOI QBE Others. Buy Now for Single User: https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-23T2720&lic=single-user Buy Now for Enterprise User: https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-23T2720&lic=enterprise-user SIMILAR REPORTS Automotive UBI (Usage-based Insurance) Market Report The global Automotive Usage-based Insurance market is split into two segments, type, and application. Based on type, the market is further segmented into Odometer Data-based and GPS data-based. And based on the application, the market is segmented into, Compact Car, Mid-size Car, Full-size Car, and SUV/Crossover. The report lists the major manufacturers in the regions and their respective market share on the basis of global revenue. It also explains their strategic moves in the past few years, investments in product innovation, and changes in leadership to stay ahead in the competition. View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-1H2103/global-automotive-usage-based-insurance ABOUT US: Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs. Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs. To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. 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Answer: Usage-based Insurance Market Size to Reach USD 77.25 Billion by 2026 - Segmented by PAYD, PHYD, PAYG and Distance Based Insurance | Valuates Reports Deutsch Deutsch English English English English Franais Franais