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COVID-19: Significant Shift in Strategy of Global Automotive Usage-Based Insurance Market 2020-2024 | Flexible Pricing Schemes to Boost Growth | Technavio

Technavio has been monitoring the global automotive usage-based insurance market and it is poised to grow by 37.25 million 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.

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Technavio has announced its latest market research report titled Global Automotive Usage-Based Insurance Market 2020-2024 (Graphic: Business Wire)

Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report

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. 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.

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The flexible pricing schemes have been instrumental in driving the growth of the market. However, the security issues of telematics in vehicles might hamper the market growth.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. https://www.technavio.com/report/automotive-usage-based-insurance-market-industry-analysis

Automotive Usage-Based Insurance Market 2020-2024: Segmentation

Automotive Usage-Based Insurance Market is segmented as below:

  • End-user
    • Pay-how-you-drive
    • Pay-as-you-drive
    • Manage-how-you-drive
  • Application
    • Automotive Embedded UBI
    • Automotive App-based UBI
  • Geographic Landscape
    • APAC
    • Europe
    • MEA
    • North America
    • South America

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40064

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. The 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 the 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.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Automotive Usage-Based Insurance Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist automotive usage-based insurance market growth during the next five years
  • Estimation of the automotive usage-based insurance market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the automotive usage-based insurance market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of automotive usage-based insurance market, vendors

Table of Contents:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

  • 2.1 Preface
  • 2.2 Preface
  • 2.3 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition
  • Market sizing 2019
  • Market size and forecast 2019-2024

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

PART 06: CUSTOMER LANDSCAPE

PART 07: GEOGRAPHIC LANDSCAPE

  • Geographic segmentation
  • Geographic comparison
  • Europe - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity

PART 08: MARKET SEGMENTATION BY PRICING SCHEME

  • Market segmentation by pricing scheme
  • Comparison by pricing scheme
  • Pay-how-you-drive (PHYD) - Market size and forecast 2019-2024
  • Pay-as-you-drive (PAYD) - Market size and forecast 2019-2024
  • Manage-how-you-drive (MHYD) - Market size and forecast 2019-2024
  • Market opportunity by pricing scheme

PART 09: MARKET SEGMENTATION BY APPLICATION

  • Market segmentation by application
  • Automotive embedded UBI market
  • Automotive app-based UBI market

PART 10: DECISION FRAMEWORK

PART 11: DRIVERS AND CHALLENGES

  • Market drivers
  • Market challenges

PART 12: MARKET TRENDS

  • Shared data plans to reduce the number of data subscriptions per user
  • Big data platforms provided by connected cars to push further developments in UBI
  • Growing LTE data connections in cars to support ethernet adoption

PART 13: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption
  • Competitive scenario

PART 14: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • 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
  • Watchstone Group Plc

PART 15: APPENDIX

  • Research methodology
  • List of abbreviations
  • Definition of market positioning of vendors

PART 16: EXPLORE TECHNAVIO

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200623005766/en/

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