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市場調査レポート
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1378992

利用ベース保険市場レポート:タイプ別、技術別、車種別、車齢別、地域別、2023-2028年

Usage-Based Insurance Market Report by Type (Pay-As-You-Drive, Pay-How-You-Drive, Manage-How-You-Drive, and Others), Technology, Vehicle Type (Light-Duty Vehicle, Heavy-Duty Vehicle ), Vehicle Age, and Region 2023-2028

出版日: | 発行: IMARC | ページ情報: 英文 141 Pages | 納期: 2~3営業日

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価格
価格表記: USDを日本円(税抜)に換算
本日の銀行送金レート: 1USD=160.10円
利用ベース保険市場レポート:タイプ別、技術別、車種別、車齢別、地域別、2023-2028年
出版日: 2023年11月02日
発行: IMARC
ページ情報: 英文 141 Pages
納期: 2~3営業日
  • 全表示
  • 概要
  • 図表
  • 目次
概要

概要

世界の利用ベース保険市場規模は2022年に413億米ドルに達しました。今後、IMARC Groupは、2022年から2028年にかけての成長率(CAGR)は24.4%を示し、2028年には1,534億米ドルに達すると予測しています。自律走行車の台頭、保険エコシステムの拡大、UBIソリューションのための保険会社とハイテク企業間の提携・協力の増加、パーソナライズされた保険サービスの動向の高まりなどが、市場を推進している要因の一部です。

利用ベース保険(UBI)、またはテレマティクス保険は、主に自動車業界において、個人の行動や利用パターンに合わせて保険料を調整する最新の保険モデルです。従来の定額保険とは異なり、UBIはGPS、センサー、車載診断などの先進技術を活用し、自動車の運転状況をモニターしてデータを収集します。このデータには、走行距離、走行速度、アクセル、ブレーキ、さらには車両の使用時間帯などの要素が含まれます。これにより、保険契約者は運転習慣やリスクプロファイルに基づいて保険料を支払うことができ、より正確で公正な価格設定が促進されます。制限速度を守り、スムーズなアクセルとブレーキを実践し、リスクの少ない時間帯に運転する安全な 促進要因は保険料削減の恩恵を受けるかもしれないが、リスクの高い運転行動をとる 促進要因はそれに応じて保険料が調整されるかもしれないです。この制度は、責任ある運転習慣を奨励することで交通安全を向上させる可能性があるため、支持を集めています。また、リスクの高い時間帯の運転を控えるように促すことで、交通渋滞や環境への影響を軽減することもできます。個人向け自動車保険に加え、UBIのコンセプトは商用フリートにも広がりつつあり、企業は 促進要因の行動を監視し、安全対策を強化し、リアルタイムのデータに基づいてフリート・オペレーションを最適化することができます。

世界市場の主な原動力は、テレマティクス技術の進歩にあります。これに伴い、データ処理能力の向上が保険会社の収集データ活用能力を高め、市場に大きく貢献しています。さらに、自動車へのIoTデバイスの採用が増加していることも、市場にプラスの影響を与えています。これとは別に、パーソナライズされたサービスに対する需要の高まりが市場を活性化しています。さらに、競争が激化しているため、保険会社はUBIの提供でイノベーションを促し、市場を促進しています。さらに、UBIは保険金請求処理とリスク評価を最適化することで諸経費を削減し、市場を刺激しています。さらに、UBIはより安全な運転行動を奨励するために心理学を利用し、市場に前向きな見通しを生み出しています。

利用ベース保険市場の動向と促進要因:

消費者の運転行動を監視する遠隔診断への需要の高まり

消費者の運転行動を監視するための遠隔診断に対する需要の高まりは、市場に好影響を与えています。高度なテレマティクス技術により、保険会社は車両からリアルタイムでデータを遠隔収集することができます。これにより、スピード、アクセル、ブレーキなどの運転習慣を継続的に監視することが可能になります。消費者が自分の運転行動をより意識するようになり、個別化された保険ソリューションを求めるようになる中、UBIは実際の運転パターンに基づいてオーダーメイドの保険を提供することで、この需要に応えています。遠隔診断が可能になることで、保険会社は正確な保険料計算を行い、リアルタイムで料率を調整することができます。また、消費者は自分の運転行動が保険料に直接影響することを知るため、より安全な運転が促進されます。このような透明性と説明責任の向上は、保険契約者のUBI採用を促し、市場成長を促進します。遠隔診断技術が進歩を続けるなか、消費者の運転行動に関する詳細な洞察を提供するその役割は、UBI市場の将来を形作る極めて重要な要因となると思われます。

交通事故削減と 促進要因の安全確保に対する大衆のニーズの高まり

交通事故を減らし、 促進要因の安全を促進するニーズの高まりが市場を刺激しています。交通事故が莫大な人的・経済的損失を引き起こす中、UBIはより安全な運転行動を奨励することで積極的な解決策を提供します。速度、ブレーキ、加速度を監視することで、UBIは 促進要因に責任ある習慣を奨励し、事故リスクを低減します。 促進要因の安全性に焦点を当てることは、交通安全を向上させるための社会的目標や規制の取り組みと一致します。保険会社はUBIを活用し、安全な運転習慣を維持することで保険料を引き下げ、間接的に 促進要因の安全意識を広める。より安全な道路と保険料の削減という相互のメリットが一般に認識されるにつれ、UBIの採用が加速し、市場の成長を促進します。交通事故を軽減し、 促進要因の安全を促進することを目的とするUBIは、市場の拡大を促進すると同時に、交通安全への取り組みにプラスの影響を与える変革的な保険モデルとして位置づけられています。

先端技術の急速な採用

スマートフォン利用ベース保険(UBI)やハイブリッド型保険といった先進技術の急速な導入は、市場に多くの機会を提供しています。スマートフォンベースのUBIは、スマートフォンのユビキタス性を活用して運転データを収集するため、専用のテレマティクス機器が不要となります。このアプローチにより、データ収集が簡素化され、保険契約者のアクセシビリティが向上するため、UBIの普及が促進されます。ハイブリッド・ベースの保険は、従来の保険モデルにUBIの要素を組み合わせ、柔軟性とオーダーメイドの補償を提供します。カスタマイズされた保険ソリューションを求める多様な消費者にアピールします。テクノロジーを保険業務に統合することで、リスク評価、パーソナライズされた保険料計算、リアルタイムのデータ分析の精度が高まる。保険会社は 促進要因の行動変化に迅速に対応し、タイムリーなフィードバックやインセンティブ調整を行うことができます。スマートフォン、テレマティクス、ハイブリッドモデルの融合は、安全運転、顧客エンゲージメント、パーソナライズされた補償を促進することで、保険の情勢を再構築します。この動向はUBI市場を高め、進化する消費者の嗜好と技術の進歩に対応する革新的な保険ソリューションの時代の到来を告げるものです。

本レポートで扱う主な質問

  • 2022年の世界の利用ベース保険市場規模は?
  • 2023年~2028年の利用ベース保険の世界市場成長率は?
  • 利用ベース保険の世界市場を牽引する主な要因は何か
  • 利用ベース保険の世界市場におけるCOVID-19の影響は?
  • 利用ベース保険の世界市場のタイプ別区分は?
  • 利用ベース保険の世界市場の技術別区分は?
  • 利用ベース保険の世界市場の車種別区分は?
  • 利用ベース保険の世界市場の車齢別区分は?
  • 利用ベース保険の世界市場における主要地域は?
  • 10.利用ベース保険の世界市場における主要プレーヤー/企業は?

目次

第1章 序文

第2章 調査範囲と調査手法

  • 調査目的
  • 利害関係者
  • データソース
    • 一次情報
    • 二次情報
  • 市場推定
    • ボトムアップアプローチ
    • トップダウンアプローチ
  • 調査手法

第3章 エグゼクティブサマリー

第4章 イントロダクション

  • 概要
  • 主要産業動向

第5章 世界の利用ベース保険市場

  • 市場概要
  • 市場実績
  • COVID-19の影響
  • 市場予測

第6章 市場内訳:タイプ別

  • 走行距離連動型(PAYD)
    • 市場動向
    • 市場予測
  • 運転行動連携型(PHYD)
    • 市場動向
    • 市場予測
  • 運転行動管理型(MHYD)
    • 市場動向
    • 市場予測
  • その他
    • 市場動向
    • 市場予測

第7章 市場内訳:技術別

  • OBD II
    • 市場動向
    • 市場予測
  • ブラックボックス
    • 市場動向
    • 市場予測
  • スマートフォン
    • 市場動向
    • 市場予測
  • その他
    • 市場動向
    • 市場予測

第8章 市場内訳:車種別

  • 小型自動車(LDV)
    • 市場動向
    • 市場予測
  • 大型車(HDV)
    • 市場動向
    • 市場予測

第9章 市場内訳:車齢別

  • 新車
    • 市場動向
    • 市場予測
  • 中古車
    • 市場動向
    • 市場予測

第10章 市場内訳:地域別

  • 北米
    • 米国
      • 市場動向
      • 市場予測
    • カナダ
      • 市場動向
      • 市場予測
  • アジア太平洋
    • 中国
      • 市場動向
      • 市場予測
    • 日本
      • 市場動向
      • 市場予測
    • インド
      • 市場動向
      • 市場予測
    • 韓国
      • 市場動向
      • 市場予測
    • オーストラリア
      • 市場動向
      • 市場予測
    • インドネシア
      • 市場動向
      • 市場予測
    • その他
      • 市場動向
      • 市場予測
  • 欧州
    • ドイツ
      • 市場動向
      • 市場予測
    • フランス
      • 市場動向
      • 市場予測
    • 英国
      • 市場動向
      • 市場予測
    • イタリア
      • 市場動向
      • 市場予測
    • スペイン
      • 市場動向
      • 市場予測
    • ロシア
      • 市場動向
      • 市場予測
    • その他
      • 市場動向
      • 市場予測
  • ラテンアメリカ
    • ブラジル
      • 市場動向
      • 市場予測
    • メキシコ
      • 市場動向
      • 市場予測
    • その他
      • 市場動向
      • 市場予測
  • 中東・アフリカ地域
    • 市場動向
    • 市場内訳:国別
    • 市場予測

第11章 SWOT分析

  • 概要
  • 強み
  • 弱み
  • 機会
  • 脅威

第12章 バリューチェーン分析

第13章 ポーターのファイブフォース分析

  • 概要
  • 買い手の交渉力
  • 供給企業の交渉力
  • 競合の程度
  • 新規参入業者の脅威
  • 代替品の脅威

第14章 価格分析

第15章 競合情勢

  • 市場構造
  • 主要企業
  • 主要企業のプロファイル
    • Aioi Nissay Dowa Insurance UK Ltd
    • Allianz SE
    • Allstate Insurance Company
    • American International Group Inc.
    • Assicurazioni Generali S.p.A.
    • AXA
    • Liberty Mutual Insurance Company
    • Mapfre S.A.
    • Progressive Casualty Insurance Company
    • State Farm Automobile Mutual Insurance Company
    • TomTom International BV.
    • UnipolSai Assicurazioni S.p.A.(Unipol Gruppo S.p.A)
図表

List of Figures

  • Figure 1: Global: Usage-Based Insurance Market: Major Drivers and Challenges
  • Figure 2: Global: Usage-Based Insurance Market: Sales Value (in Billion US$), 2017-2022
  • Figure 3: Global: Usage-Based Insurance Market Forecast: Sales Value (in Billion US$), 2023-2028
  • Figure 4: Global: Usage-Based Insurance Market: Breakup by Type (in %), 2022
  • Figure 5: Global: Usage-Based Insurance Market: Breakup by Technology (in %), 2022
  • Figure 6: Global: Usage-Based Insurance Market: Breakup by Vehicle Type (in %), 2022
  • Figure 7: Global: Usage-Based Insurance Market: Breakup by Vehicle Age (in %), 2022
  • Figure 8: Global: Usage-Based Insurance Market: Breakup by Region (in %), 2022
  • Figure 9: Global: Usage-Based Insurance (Pay-As-You-Drive-PAYD) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 10: Global: Usage-Based Insurance (Pay-As-You-Drive-PAYD) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 11: Global: Usage-Based Insurance (Pay-How-You-Drive-PHYD) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 12: Global: Usage-Based Insurance (Pay-How-You-Drive-PHYD) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 13: Global: Usage-Based Insurance (Manage-How-You-Drive-MHYD) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 14: Global: Usage-Based Insurance (Manage-How-You-Drive-MHYD) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 15: Global: Usage-Based Insurance (Other Types) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 16: Global: Usage-Based Insurance (Other Types) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 17: Global: Usage-Based Insurance (OBD II) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 18: Global: Usage-Based Insurance (OBD II) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 19: Global: Usage-Based Insurance (Black Box) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 20: Global: Usage-Based Insurance (Black Box) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 21: Global: Usage-Based Insurance (Smartphones) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 22: Global: Usage-Based Insurance (Smartphones) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 23: Global: Usage-Based Insurance (Other Technologies) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 24: Global: Usage-Based Insurance (Other Technologies) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 25: Global: Usage-Based Insurance (Light-duty Vehicle-LDV) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 26: Global: Usage-Based Insurance (Light-duty Vehicle-LDV) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 27: Global: Usage-Based Insurance (Heavy-duty Vehicle-HDV) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 28: Global: Usage-Based Insurance (Heavy-duty Vehicle-HDV) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 29: Global: Usage-Based Insurance (New Vehicles) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 30: Global: Usage-Based Insurance (New Vehicles) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 31: Global: Usage-Based Insurance (Used Vehicles) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 32: Global: Usage-Based Insurance (Used Vehicles) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 33: North America: Usage-Based Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 34: North America: Usage-Based Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 35: United States: Usage-Based Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 36: United States: Usage-Based Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 37: Canada: Usage-Based Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 38: Canada: Usage-Based Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 39: Asia-Pacific: Usage-Based Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 40: Asia-Pacific: Usage-Based Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 41: China: Usage-Based Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 42: China: Usage-Based Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 43: Japan: Usage-Based Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 44: Japan: Usage-Based Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 45: India: Usage-Based Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 46: India: Usage-Based Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 47: South Korea: Usage-Based Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 48: South Korea: Usage-Based Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 49: Australia: Usage-Based Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 50: Australia: Usage-Based Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 51: Indonesia: Usage-Based Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 52: Indonesia: Usage-Based Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 53: Others: Usage-Based Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 54: Others: Usage-Based Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 55: Europe: Usage-Based Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 56: Europe: Usage-Based Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 57: Germany: Usage-Based Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 58: Germany: Usage-Based Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 59: France: Usage-Based Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 60: France: Usage-Based Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 61: United Kingdom: Usage-Based Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 62: United Kingdom: Usage-Based Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 63: Italy: Usage-Based Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 64: Italy: Usage-Based Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 65: Spain: Usage-Based Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 66: Spain: Usage-Based Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 67: Russia: Usage-Based Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 68: Russia: Usage-Based Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 69: Others: Usage-Based Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 70: Others: Usage-Based Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 71: Latin America: Usage-Based Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 72: Latin America: Usage-Based Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 73: Brazil: Usage-Based Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 74: Brazil: Usage-Based Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 75: Mexico: Usage-Based Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 76: Mexico: Usage-Based Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 77: Others: Usage-Based Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 78: Others: Usage-Based Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 79: Middle East and Africa: Usage-Based Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 80: Middle East and Africa: Usage-Based Insurance Market: Breakup by Country (in %), 2022
  • Figure 81: Middle East and Africa: Usage-Based Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 82: Global: Usage-Based Insurance Industry: SWOT Analysis
  • Figure 83: Global: Usage-Based Insurance Industry: Value Chain Analysis
  • Figure 84: Global: Usage-Based Insurance Industry: Porter's Five Forces Analysis

List of Tables

  • Table 1: Global: Usage-Based Insurance Market: Key Industry Highlights, 2022 and 2028
  • Table 2: Global: Usage-Based Insurance Market Forecast: Breakup by Type (in Million US$), 2023-2028
  • Table 3: Global: Usage-Based Insurance Market Forecast: Breakup by Technology (in Million US$), 2023-2028
  • Table 4: Global: Usage-Based Insurance Market Forecast: Breakup by Vehicle Type (in Million US$), 2023-2028
  • Table 5: Global: Usage-Based Insurance Market Forecast: Breakup by Vehicle Age (in Million US$), 2023-2028
  • Table 6: Global: Usage-Based Insurance Market Forecast: Breakup by Region (in Million US$), 2023-2028
  • Table 7: Global: Usage-Based Insurance Market: Competitive Structure
  • Table 8: Global: Usage-Based Insurance Market: Key Players
目次
Product Code: SR112023A3840

Abstract

The global usage-based insurance market size reached US$ 41.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 153.4 Billion by 2028, exhibiting a growth rate (CAGR) of 24.4% during 2022-2028. The rise of autonomous vehicles, the insurance ecosystem expansion, the increasing partnerships and collaborations between the insurers and tech companies for UBI solutions, and the growing trend of personalized insurance services are some of the factors propelling the market.

Usage-based insurance (UBI), or telematics insurance, is a modern insurance model that tailors premiums to individual behavior and usage patterns, primarily in the automotive industry. Unlike traditional fixed-rate policies, UBI utilizes advanced technology, such as GPS, sensors, and onboard diagnostics, to monitor and collect data on how a vehicle is driven. This data includes factors like distance traveled, driving speed, acceleration, braking, and even the time of day the vehicle is used. It allows policyholders to pay insurance premiums based on their driving habits and risk profile, promoting more accurate and fair pricing. Safe drivers who adhere to speed limits, practice smooth acceleration and braking, and drive during low-risk hours might benefit from reduced premiums, while those with riskier driving behavior may see their rates adjust accordingly. It has gained traction due to its potential to improve road safety by incentivizing responsible driving habits. It also encourages individuals to drive less during high-risk hours, reducing traffic congestion and environmental impact. In addition to personal auto insurance, the UBI concept is expanding to commercial fleets, where companies can monitor driver behavior, enhance safety measures, and optimize fleet operations based on real-time data.

The global market is majorly driven by the increasing advancements in telematics technology. In line with this, the improved data processing capabilities enhance insurers' ability to leverage collected data, significantly contributing to the market. Furthermore, the rising adoption of IoT devices in vehicles is positively influencing the market. Apart from this, the growing demand for personalized services is catalyzing the market. Moreover, the escalating competition prompts insurers to innovate with UBI offerings, propelling the market. Besides, the UBI reduces overhead costs by optimizing claims processing and risk assessment, stimulating the market. Additionally, the UBI taps into psychology to encourage safer driving behaviors, creating a positive outlook for the market.

Usage-Based Insurance Market Trends/Drivers:

Rising demand for remote diagnostics to monitor consumer driving behavior

The increasing demand for remote diagnostics to monitor consumer driving behavior is favorably impacting the market. With advanced telematics technology, insurers can collect real-time data remotely from vehicles. This enables continuous monitoring of driving habits, including speed, acceleration, and braking. As consumers become more conscious of their driving behaviors and seek personalized insurance solutions, UBI meets this demand by offering tailored policies based on actual driving patterns. The availability of remote diagnostics empowers insurance providers to provide accurate premium calculations and adjust rates in real-time. It also promotes safer driving practices, as consumers know their driving behavior affects their premiums directly. This increased transparency and accountability encourage the adoption of UBI among policyholders, thereby driving market growth. As remote diagnostics technology continues to improve, its role in providing detailed insights into consumer driving behavior will be a pivotal factor in shaping the future of the UBI market.

Increasing need to reduce road accidents and promote driver safety among the masses

The growing need to reduce road accidents and promote driver safety is stimulating the market. With road accidents causing immense human and economic losses, UBI offers a proactive solution by incentivizing safer driving behaviors. By monitoring speed, braking, and acceleration, UBI encourages drivers to adopt responsible habits, reducing accident risks. The focus on driver safety aligns with societal goals and regulatory efforts to improve road safety. Insurers leverage UBI to reward policyholders with lower premiums for maintaining safe driving practices, indirectly promoting widespread driver safety awareness. As the public recognizes the mutual benefits of safer roads and reduced insurance costs, the adoption of UBI accelerates, driving the market growth. The collective aim to mitigate road accidents and foster driver safety positions UBI as a transformative insurance model that is positively impacting road safety efforts while enhancing the market's expansion.

The rapid adoption of advanced technologies

The rapid adoption of advanced technologies, such as smartphone-based usage-based insurance (UBI) and hybrid-based insurance, is offering numerous opportunities for the market. Smartphone-based UBI leverages the ubiquity of smartphones to collect driving data, eliminating the need for specialized telematics devices. This approach simplifies data collection and enhances accessibility for policyholders, fostering broader UBI adoption. Hybrid-based insurance combines traditional insurance models with UBI elements, offering flexibility and tailored coverage. It appeals to a diverse range of consumers seeking customized insurance solutions. The integration of technology into insurance practices enhances accuracy in risk assessment, personalized premium calculation, and real-time data analysis. Insurers can respond promptly to changing driver behavior, providing timely feedback and incentive adjustments. The convergence of smartphones, telematics, and hybrid models reshapes the insurance landscape by promoting safe driving, customer engagement, and personalized coverage. This trend elevates the UBI market and ushers in an era of innovative insurance solutions catering to evolving consumer preferences and technological advancements.

Usage-Based Insurance Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global usage-based insurance market report, along with forecasts at the global, regional and country levels from 2023-2028. Our report has categorized the market based on type, technology, vehicle type and vehicle age.

Breakup by Type:

Pay-As-You-Drive (PAYD)

Pay-How-You-Drive (PHYD)

Manage-How-You-Drive (MHYD)

Others

Pay-As-You-Drive (PAYD) dominates the market

The report has provided a detailed breakup and analysis of the market based on the type. This includes pay-as-you-drive (PAYD), pay-how-you-drive (PHYD), manage-how-you-drive (MHYD), and others. According to the report, Pay-As-You-Drive (PAYD) represented the largest segment.

The Pay-As-You-Drive (PAYD) insurance model is pivotal in propelling market growth by revolutionizing traditional insurance practices. This type of usage-based insurance allows policyholders to pay premiums based on the distance driven. PAYD addresses the evolving needs of modern consumers, who value cost-effectiveness and fairness in insurance pricing.

PAYD incentivizes responsible driving habits and reduced mileage by aligning premiums directly with driving behavior. This promotes road safety and reduces carbon emissions and traffic congestion. As consumers increasingly seek personalized insurance solutions catering to their circumstances, PAYD offers a flexible and attractive option.

Furthermore, the integration of telematics technology allows insurers to accurately track driving patterns, leading to precise risk assessment and premium calculations. This usage-based insurance drives market growth by appealing to environmentally conscious consumers, those who drive infrequently, and those seeking equitable insurance pricing.

Breakup by Technology:

OBD II

Black Box

Smartphones

Others

Black Box dominates the market

The report has provided a detailed breakup and analysis of the market based on the technology. This includes OBD II, black box, smartphones, and others. According to the report, the black box represented the largest segment.

Utilizing black box technology is pivotal in bolstering market growth within the usage-based insurance (UBI) sector. Black boxes, or telematics devices, are installed in vehicles to collect real-time driving data, including speed, braking, acceleration, and more. This data empowers insurance providers to accurately assess driver behavior, encouraging safe driving habits and risk reduction.

Black boxes enhance transparency between policyholders and insurers by providing objective driving data, which, in turn, leads to personalized premium calculations. This transparency fosters customer engagement and cultivates a sense of accountability among drivers, aligning their interests with safer road practices. Additionally, black box technology facilitates efficient claims processing and fraud prevention by offering verifiable information about accidents.

As black boxes continue to evolve technologically, incorporating GPS capabilities and connectivity features, they play a pivotal role in driving UBI market growth. The ability to accurately monitor driving behavior and reward safe practices resonates with consumers seeking customized insurance solutions and heightened road safety.

Breakup by Vehicle Type:

Light-duty Vehicle (LDV)

Heavy-duty Vehicle (HDV)

Light-duty vehicle (LDV) dominates the market

The report has provided a detailed breakup and analysis of the market based on vehicle type. This includes light-duty vehicle (LDV) and heavy-duty vehicle (HDV). According to the report, light-duty vehicle (LDV) represented the largest segment.

Light-duty vehicles (LDV), including cars and small trucks, constitute a significant portion of the vehicle population. UBI offerings tailored specifically to LDVs capitalize on their widespread use, catering to diverse drivers. As UBI gains traction, LDV owners are increasingly drawn to the prospect of personalized insurance premiums based on their driving behavior. This type of coverage resonates with those seeking fair and cost-effective insurance solutions, aligning with the changing preferences of modern consumers.

The LDV segment's dominance in daily commuting and urban travel further emphasizes the need for safer driving practices, making UBI's incentive for responsible behavior especially pertinent. The widespread adoption of UBI among LDV owners bolsters the market growth, ushering in a paradigm shift in insurance practices prioritizing driver safety, customization, and equitable pricing.

Breakup by Vehicle Age:

New Vehicles

Used Vehicles

New vehicles dominate the market

The report has provided a detailed breakup and analysis of the market based on vehicle age. This includes new vehicles and used vehicles. According to the report, new vehicles represented the largest segment.

New vehicles have advanced telematics technology that seamlessly integrates with UBI systems. This technology-rich environment allows for accurate and comprehensive data collection, enabling insurers to assess driving behavior and risk profiles accurately. Insurers are capitalizing on the appeal of UBI among new vehicle owners by offering tailored policies that align with modern consumer preferences for personalized insurance. New vehicle owners are more likely to embrace innovative insurance solutions that reflect their driving habits and provide cost savings.

Moreover, UBI incentivizes safe driving practices, and new vehicle owners are often keen to preserve their vehicles' pristine condition, making them receptive to safer driving behaviors. As UBI gains prominence, its synergy with new vehicles' technological capabilities fosters market growth, reshaping the insurance landscape to accommodate personalized coverage, safety awareness, and seamless data integration.

Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

North America exhibits a clear dominance, accounting for the largest usage-based insurance market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

There is an increased UBI adoption across North America with its technologically advanced infrastructure and many tech-savvy consumers. The region's high vehicle ownership rates and urban population density further accelerate UBI's appeal. Government initiatives promoting road safety align with UBI's emphasis on responsible driving, spurring its adoption. Additionally, the insurance industry's focus on innovation and consumer demand for personalized insurance solutions create a symbiotic relationship that drives market expansion.

The North American market's maturity encourages UBI providers to continually refine their offerings, integrating the latest technologies for accurate data collection and seamless user experiences. As UBI gains traction, North America leads in reshaping the insurance landscape, promoting safer roads, personalized policies, and technological advancement that collectively fuels the market.

Competitive Landscape:

Top companies are strengthening the market through innovation, strategic partnerships, and customer-centric approaches. These industry leaders invest significantly in cutting-edge telematics technology, enhancing data collection accuracy and user experience. These companies promote safer practices and road safety awareness by providing consumers with real-time insights into their driving behaviors. Strategic collaborations with vehicle manufacturers, tech companies, and data analytics firms expand UBI's reach and capabilities. These partnerships foster seamless integration of UBI systems into vehicles and enable insurers to offer personalized policies that cater to diverse consumer needs. Customer engagement initiatives such as user-friendly apps, personalized feedback, and rewards for responsible driving contribute to broader UBI adoption. Additionally, top UBI companies often champion data security and transparency, alleviating concerns and boosting consumer trust. By continuously refining their offerings, fostering partnerships, prioritizing user experience, and addressing consumer demands, these market leaders significantly contribute to the expansion and transformation of the market, creating a safer, more personalized, and technologically advanced insurance landscape.

The report has provided a comprehensive analysis of the competitive landscape in the usage-based insurance market. Detailed profiles of all major companies have also been provided.

Aioi Nissay Dowa Insurance UK Ltd

Allianz SE

Allstate Insurance Company

American International Group Inc.

Assicurazioni Generali S.p.A.

AXA

Liberty Mutual Insurance Company

Mapfre S.A.

Progressive Casualty Insurance Company

State Farm Automobile Mutual Insurance Company

TomTom International BV.

UnipolSai Assicurazioni S.p.A. (Unipol Gruppo S.p.A)

Recent Developments:

In February 2023, Aioi Nissay Dowa Insurance Europe announced its partnership with Mind Foundry to launch an R&D Lab to apply cutting-edge AI to future insurance solutions.

In June 2023, the partnership between AllianzGI and Voya IM achieved a new milestone. Voya IM's successful US corporate bonds strategy is now accessible in Europe and Asia through AllianzGI's UCITS wrapper, the Allianz US Investment Grade Credit fund. This fund invests in a wide range of liquid US investment grade corporate bonds, providing excellent diversification prospects.

In June 2021, Allstate Corporation agreed to acquire SafeAuto, a non-standard auto insurance provider specializing in state-minimum coverage in 28 states. The deal comprises a $270 million cash payment and around $30 million pre-close dividends for specific non-insurance assets.

Key Questions Answered in This Report

  • 1. What was the size of the global usage-based insurance market in 2022?
  • 2. What is the expected growth rate of the global usage-based insurance market during 2023-2028?
  • 3. What are the key factors driving the global usage-based insurance market?
  • 4. What has been the impact of COVID-19 on the global usage-based insurance market?
  • 5. What is the breakup of the global usage-based insurance market based on the type?
  • 6. What is the breakup of the global usage-based insurance market based on the technology?
  • 7. What is the breakup of the global usage-based insurance market based on the vehicle type?
  • 8. What is the breakup of the global usage-based insurance market based on the vehicle age?
  • 9. What are the key regions in the global usage-based insurance market?
  • 10. Who are the key players/companies in the global usage-based insurance market?

Table of Contents

1 Preface

2 Scope and Methodology

  • 2.1 Objectives of the Study
  • 2.2 Stakeholders
  • 2.3 Data Sources
    • 2.3.1 Primary Sources
    • 2.3.2 Secondary Sources
  • 2.4 Market Estimation
    • 2.4.1 Bottom-Up Approach
    • 2.4.2 Top-Down Approach
  • 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

  • 4.1 Overview
  • 4.2 Key Industry Trends

5 Global Usage-Based Insurance Market

  • 5.1 Market Overview
  • 5.2 Market Performance
  • 5.3 Impact of COVID-19
  • 5.4 Market Forecast

6 Market Breakup by Type

  • 6.1 Pay-As-You-Drive (PAYD)
    • 6.1.1 Market Trends
    • 6.1.2 Market Forecast
  • 6.2 Pay-How-You-Drive (PHYD)
    • 6.2.1 Market Trends
    • 6.2.2 Market Forecast
  • 6.3 Manage-How-You-Drive (MHYD)
    • 6.3.1 Market Trends
    • 6.3.2 Market Forecast
  • 6.4 Others
    • 6.4.1 Market Trends
    • 6.4.2 Market Forecast

7 Market Breakup by Technology

  • 7.1 OBD II
    • 7.1.1 Market Trends
    • 7.1.2 Market Forecast
  • 7.2 Black Box
    • 7.2.1 Market Trends
    • 7.2.2 Market Forecast
  • 7.3 Smartphones
    • 7.3.1 Market Trends
    • 7.3.2 Market Forecast
  • 7.4 Others
    • 7.4.1 Market Trends
    • 7.4.2 Market Forecast

8 Market Breakup by Vehicle Type

  • 8.1 Light-duty Vehicle (LDV)
    • 8.1.1 Market Trends
    • 8.1.2 Market Forecast
  • 8.2 Heavy-duty Vehicle (HDV)
    • 8.2.1 Market Trends
    • 8.2.2 Market Forecast

9 Market Breakup by Vehicle Age

  • 9.1 New Vehicles
    • 9.1.1 Market Trends
    • 9.1.2 Market Forecast
  • 9.2 Used Vehicles
    • 9.2.1 Market Trends
    • 9.2.2 Market Forecast

10 Market Breakup by Region

  • 10.1 North America
    • 10.1.1 United States
      • 10.1.1.1 Market Trends
      • 10.1.1.2 Market Forecast
    • 10.1.2 Canada
      • 10.1.2.1 Market Trends
      • 10.1.2.2 Market Forecast
  • 10.2 Asia-Pacific
    • 10.2.1 China
      • 10.2.1.1 Market Trends
      • 10.2.1.2 Market Forecast
    • 10.2.2 Japan
      • 10.2.2.1 Market Trends
      • 10.2.2.2 Market Forecast
    • 10.2.3 India
      • 10.2.3.1 Market Trends
      • 10.2.3.2 Market Forecast
    • 10.2.4 South Korea
      • 10.2.4.1 Market Trends
      • 10.2.4.2 Market Forecast
    • 10.2.5 Australia
      • 10.2.5.1 Market Trends
      • 10.2.5.2 Market Forecast
    • 10.2.6 Indonesia
      • 10.2.6.1 Market Trends
      • 10.2.6.2 Market Forecast
    • 10.2.7 Others
      • 10.2.7.1 Market Trends
      • 10.2.7.2 Market Forecast
  • 10.3 Europe
    • 10.3.1 Germany
      • 10.3.1.1 Market Trends
      • 10.3.1.2 Market Forecast
    • 10.3.2 France
      • 10.3.2.1 Market Trends
      • 10.3.2.2 Market Forecast
    • 10.3.3 United Kingdom
      • 10.3.3.1 Market Trends
      • 10.3.3.2 Market Forecast
    • 10.3.4 Italy
      • 10.3.4.1 Market Trends
      • 10.3.4.2 Market Forecast
    • 10.3.5 Spain
      • 10.3.5.1 Market Trends
      • 10.3.5.2 Market Forecast
    • 10.3.6 Russia
      • 10.3.6.1 Market Trends
      • 10.3.6.2 Market Forecast
    • 10.3.7 Others
      • 10.3.7.1 Market Trends
      • 10.3.7.2 Market Forecast
  • 10.4 Latin America
    • 10.4.1 Brazil
      • 10.4.1.1 Market Trends
      • 10.4.1.2 Market Forecast
    • 10.4.2 Mexico
      • 10.4.2.1 Market Trends
      • 10.4.2.2 Market Forecast
    • 10.4.3 Others
      • 10.4.3.1 Market Trends
      • 10.4.3.2 Market Forecast
  • 10.5 Middle East and Africa
    • 10.5.1 Market Trends
    • 10.5.2 Market Breakup by Country
    • 10.5.3 Market Forecast

11 SWOT Analysis

  • 11.1 Overview
  • 11.2 Strengths
  • 11.3 Weaknesses
  • 11.4 Opportunities
  • 11.5 Threats

12 Value Chain Analysis

13 Porters Five Forces Analysis

  • 13.1 Overview
  • 13.2 Bargaining Power of Buyers
  • 13.3 Bargaining Power of Suppliers
  • 13.4 Degree of Competition
  • 13.5 Threat of New Entrants
  • 13.6 Threat of Substitutes

14 Price Analysis

15 Competitive Landscape

  • 15.1 Market Structure
  • 15.2 Key Players
  • 15.3 Profiles of Key Players
    • 15.3.1 Aioi Nissay Dowa Insurance UK Ltd
      • 15.3.1.1 Company Overview
      • 15.3.1.2 Product Portfolio
    • 15.3.2 Allianz SE
      • 15.3.2.1 Company Overview
      • 15.3.2.2 Product Portfolio
      • 15.3.2.3 Financials
      • 15.3.2.4 SWOT Analysis
    • 15.3.3 Allstate Insurance Company
      • 15.3.3.1 Company Overview
      • 15.3.3.2 Product Portfolio
      • 15.3.3.3 Financials
      • 15.3.3.4 SWOT Analysis
    • 15.3.4 American International Group Inc.
      • 15.3.4.1 Company Overview
      • 15.3.4.2 Product Portfolio
      • 15.3.4.3 Financials
      • 15.3.4.4 SWOT Analysis
    • 15.3.5 Assicurazioni Generali S.p.A.
      • 15.3.5.1 Company Overview
      • 15.3.5.2 Product Portfolio
      • 15.3.5.3 Financials
      • 15.3.5.4 SWOT Analysis
    • 15.3.6 AXA
      • 15.3.6.1 Company Overview
      • 15.3.6.2 Product Portfolio
      • 15.3.6.3 Financials
      • 15.3.6.4 SWOT Analysis
    • 15.3.7 Liberty Mutual Insurance Company
      • 15.3.7.1 Company Overview
      • 15.3.7.2 Product Portfolio
    • 15.3.8 Mapfre S.A.
      • 15.3.8.1 Company Overview
      • 15.3.8.2 Product Portfolio
    • 15.3.9 Progressive Casualty Insurance Company
      • 15.3.9.1 Company Overview
      • 15.3.9.2 Product Portfolio
      • 15.3.9.3 Financials
      • 15.3.9.4 SWOT Analysis
    • 15.3.10 State Farm Automobile Mutual Insurance Company
      • 15.3.10.1 Company Overview
      • 15.3.10.2 Product Portfolio
      • 15.3.10.3 SWOT Analysis
    • 15.3.11 TomTom International BV.
      • 15.3.11.1 Company Overview
      • 15.3.11.2 Product Portfolio
      • 15.3.11.3 Financials
      • 15.3.11.4 SWOT Analysis
    • 15.3.12 UnipolSai Assicurazioni S.p.A. (Unipol Gruppo S.p.A)
      • 15.3.12.1 Company Overview
      • 15.3.12.2 Product Portfolio
      • 15.3.12.3 Financials