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Global Automotive Usage-Based Insurance Market 2018-2022

Global Automotive Usage-Based Insurance Market 2018-2022

About Automotive Usage-Based Insurance

The global automotive insurance market is evolving with the growing automotive industry. With increasing need for safety, the insurance coverage for vehicles is also growing at higher premiums.

Technavio’s analysts forecast the global automotive usage-based insurance market to grow at a CAGR of 6.87 % during the period 2018-2022.

Covered in this report

The report covers the present scenario and the growth prospects of the global automotive usage-based insurance market for 2018-2022. To calculate the market size, the report considers the e driving mileage and driving behavior.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Automotive Usage-Based Insurance Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Allianz
  • Intelligent Mechatronic Systems
  • Watchstone Group
  • Octo Telematics
  • Sierra Wireless
Market driver
  • Flexible pricing scheme
  • For a full, detailed list, view our report
Market challenge
  • High cost of telematic device installation
  • For a full, detailed list, view our report
Market trend
  • Shared data plans to reduce data subscribers per user
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2022 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


Press Release

Technavio Announces the Publication of its Research Report – Global Automotive Usage-Based Insurance Market 2018-2022

Technavio recognizes the following companies as the key players in the global automotive usage-based insurance market: Allianz, Intelligent Mechatronic Systems, Watchstone Group, Octo Telematics, and Sierra Wireless

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is shared data plans to reduce data subscribers per user. We expect that the number of connected devices in the ecosystem will grow to more than 55 billion units by 2022 and that every person will have at least seven connected devices on an average. The billing model for the provision of telecom operators is still unclear.”

According to the report, one of the major drivers for this market is Flexible pricing scheme. The pricing scheme for UBI varies largely from that of traditional auto insurance. Traditional auto insurance relies on historical data such as driving record, credit-based insurance score, garage location, personal characteristics, vehicle type, vehicle use, previous claims, liability limits, and deductibles. The discounts on premium in traditional auto insurance were done by combining different parameters such as insurance on multiple vehicles, insurance with multiple carriers, and the availability of protection devices like airbags. Such kind of policies made traditional auto insurance a fixed cost, which was assessed and was required to be paid annually, semi-annually, or quarterly basis.

Further, the report states that one of the major factors hindering the growth of this market is High cost of telematic device installation. Automotive UBI solutions are very complex as they require extensive data management and analytics capabilities. In addition, embedded UBI solutions require an external device to be integrated into the vehicle, whose cost cannot be passed on to the customers. Insurers struggle to design a system that is best suited to the needs of end-users. Also, telematics being a highly technical process, its cost is expected to increase during the forecast period, which will increase the operating cost and restrain the market growth.

Companies Mentioned

Allianz, Intelligent Mechatronic Systems, Watchstone Group, Octo Telematics, and Sierra Wireless

  • Executive summary
  • Scope of the report
  • Research methodology
  • Market landscape
    • Market ecosystem
      • Table Parent market - Global automotive insurance market
      • Table Segments of parent market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2017
      • Table Global automotive UBI market 2017
      • Table Validation techniques employed for market sizing 2017
    • Market size and forecast 2017-2022
      • Table Global automotive UBI market - Market size and forecast 2017-2022 (mn units)
      • Table Global automotive UBI market - Year-over-year growth 2018-2022 (%)
  • Five forces analysis
    • Table Five forces analysis 2017
    • Table Five forces analysis 2022
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2017
  • Market segmentation by pricing scheme
    • Segmentation by pricing scheme
      • Table Pricing scheme - Market share 2017-2022 (%)
    • Comparison by pricing scheme
      • Table Comparison by pricing scheme
    • PHYD - Market size and forecast 2017-2022
      • Table Global automotive UBI market for PHYD segment - Market size and forecast 2017-2022 (mn units)
      • Table Global automotive UBI market for PHYD segment - Year-over-year growth 2018-2022 (%)
    • PAYD - Market size and forecast 2017-2022
      • Table Global automotive UBI market for PAYD segment - Market size and forecast 2017-2022 (mn units)
      • Table Global automotive UBI market for PAYD segment - Year-over-year growth 2018-2022 (%)
    • MHYD - Market size and forecast 2017-2022
      • Table Global automotive UBI market for MHYD segment - Market size and forecast 2017-2022 (mn units)
      • Table Global automotive UBI market for MHYD segment - Year-over-year growth 2018-2022 (%)
    • Market opportunity by pricing scheme
      • Table Market opportunity by pricing scheme
  • Market segmentation by application
    • Global automotive embedded UBI market
    • Global automotive app-based UBI market
  • Customer landscape
    • Table Customer landscape
  • Regional landscape
    • Geographical segmentation
      • Table Global automotive UBI market - Market share by geography 2017-2022 (%)
    • Regional comparison
      • Table Regional comparison
    • Europe - Market size and forecast 2017-2022
      • Table Automotive UBI market in Europe - Market size and forecast 2017-2022 (mn units)
      • Table Automotive UBI market in Europe - Year-over-year growth 2018-2022 (%)
      • Table Top 3 countries in Europe
    • North America - Market size and forecast 2017-2022
      • Table Automotive UBI market in North America - Market size and forecast 2017-2022 (mn units)
      • Table Automotive UBI market in North America - Year-over-year growth 2018-2022 (%)
      • Table Top countries in North America
    • APAC - Market size and forecast 2017-2022
      • Table Automotive UBI market in APAC - Market size and forecast 2017-2022 (mn units)
      • Table Automotive UBI market in APAC - Year-over-year growth 2018-2022 (%)
      • Table Top 3 countries in APAC
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Smartphone penetration in major mobile markets 2017
      • Table Government initiatives and features
    • Market challenges
  • Market trends
    • Shared data plans to reduce data subscribers per user
    • Big data platform provided by connected cars to push further developments in UBI
    • Growing LTE data connections in cars to support Ethernet adoption
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive benchmarking
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Allianz
      • Table Vendor overview
      • Table Allianz - Business segments
      • Table Allianz - Organizational developments
      • Table Allianz - Geographic focus 2016
      • Table Allianz - Segment focus 2016
      • Table Allianz - Key offerings
    • Intelligent Mechatronic Systems
      • Table Vendor overview
      • Table Intelligent Mechatronic Systems - Solutions provided
      • Table Intelligent Mechatronics Systems - Organizational developments
      • Table Intelligent Mechatronic Systems - Geographic focus 2016
      • Table Intelligent Mechatronic Systems - Segment focus 2016
      • Table Intelligent Mechatronic Systems - Key offerings
    • Watchstone Group
      • Table Vendor overview
      • Table Watchstone Group - Business divisions
      • Table Watchstone Group - Organizational developments
      • Table Watchstone Group - Geographic focus 2016
      • Table Watchstone Group - Segment focus 2016
      • Table Watchstone Group - Key offerings
    • Octo Telematics
      • Table Vendor overview
      • Table Octo Telematics - Service segments
      • Table Octo Telematics - Organizational developments
      • Table Octo Telematics - Geographic focus 2016
      • Table Octo Telematics - Segment focus 2016
      • Table Octo Telematics - Key offerings
    • Sierra Wireless
      • Table Vendor overview
      • Table Sierra Wireless - Business segments
      • Table Sierra Wireless - Organizational developments
      • Table Sierra Wireless - Geographic focus 2016
      • Table Sierra Wireless - Segment focus 2016
      • Table Sierra Wireless - Key offerings
  • Appendix
    • List of abbreviations
  • Explore Technavio

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