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Global Usage-based Insurance Market, 2025-2033

Publisher PreciseView Reports
Published Nov 13, 2025
Length 365 Pages
SKU # PCSR20630883

Description

Global Usage-based Insurance Market, valued at USD 40.0 billion in 2024, is poised to advance to USD 258.0 billion by 2033, demonstrating explosive CAGR of 22.0% across the 2025-2033 horizon. This trajectory is energized by escalating connected vehicle sales exceeding 100 million units annually, burgeoning demand for behavior-based personalized premiums and safe driving incentives, and strides in AI and predictive analytics technologies yielding 25% CAGR for enhanced risk assessment and fair pricing mechanisms. Acceleration has marked the sector since 2021, propelled by heightened post-pandemic focus on safe driving, exponential growth in connected vehicle ecosystems, and a 25% surge in UBI adoption among new vehicles driven by Europe's light commercial sector innovations. Pivotal patterns spotlight pay-how-you-drive dominance for behavior-centric pricing models, OBD-II technology commanding accessibility and ease of deployment, and passenger vehicles establishing standard adoption, with embedded telematics emerging for real-time data accuracy and EV-specific insurance integration. Viable gateways include Asia Pacific's massive vehicle fleet expansion notably China's digital insurance initiatives and India's affordable smartphone-based UBI calls for new vehicle penetration, North America's tech-savvy consumer base driving telematics integration trends, and Europe's safety-focused regulatory environment advancing heavy commercial vehicle fleet management. Yet, headwinds persist with privacy and data security concerns curbing adoption in regulated European markets, high device and implementation costs limiting accessibility in price-sensitive Latin American regions, and data accuracy and tracking reliability challenges complicating provider confidence. Asia Pacific grips over 35% dominion, anchored by China's massive connected vehicle ecosystem and digital insurance pipelines, while North America charges ahead at 24.0% CAGR, invigorated by consumer digitalization and telematics innovation.

Tailored breakdowns unlock targeted plays across insurance types, technologies, vehicle categories, vehicle ages, electric platforms, and terrains. Types crown pay-how-you-drive for behavior focus and fairness, technologies lean OBD-II for accessibility and simplicity, vehicle types bet passenger vehicles for volume scale, vehicle ages spotlight new vehicles for seamless integration, and electric platforms emphasize BEV for emerging mobility trends, with locale-specific edges – Asia Pacific for expanse and affordability, North America for velocity and innovation, and Europe for regulatory harmony.

Market Segmentation:


By Type:

Pay-As-You-Drive
Pay-How-You-Drive
Manage-How-You-Drive

By Technology:

OBD-II
Smartphone
Black Box
Embedded Telematics
Others

By Vehicle Type:

Passenger Vehicles
Commercial Vehicles (Light Commercial Vehicles, Medium Commercial Vehicles, Heavy Commercial Vehicles)

By Vehicle Age:

New Vehicles
Used Vehicles

By Electric and Hybrid Vehicle:

HEV
PHEV
BEV

By Region:

North America (United States, Canada, Others)
Europe (United Kingdom, Germany, France, Italy, Spain, Others)
Asia Pacific (China, Japan, India, South Korea, Australia, Others)
Latin America (Brazil, Others)
Middle East & Africa (United Arab Emirates, Others)

Please note:Delivery Timeline: 2-3 Business Days

Table of Contents

365 Pages
Research Objective
MARKET SEGMENTATION
Scope of the Study
Key Questions Answered in the Report
Chapter 1 Research Methodology
1.1 Research Objective
1.2 Market Research Process
1.2.1 Data Procurement and Data Mining
1.2.2 Data Analysis and Standardization
1.2.3 Data Processing and Market Formulation
1.2.4 Data Validation
1.3 Market Research Approach
1.3.1 Residential Research
1.3.2 Commercial Research
1.3.3 Assumptions & Limitations
1.4 Year Considered for the Study
Chapter 2 Executive Summary
2.1 Global Usage-based Insurance Market Snapshot
2.2 Global Usage-based Insurance Market
Chapter 3 Market Variables and Scope
3.1 Introduction to Usage-based Insurance
3.2 Classification and Scope
Chapter 4 Market Dynamics and Trends
4.1 Global Usage-based Insurance Market Dynamics
4.2 Global Usage-based Insurance Market Dynamics, Impact Analysis
4.3 Market Drivers
4.3.1 Driver 1
4.3.2 Driver 2
4.4 Market Restraints
4.4.1 Restraint 1
4.4.2 Restraint 2
4.5 Market Opportunity
4.5.1 Opportunity 1
4.5.2 Opportunity 2
Chapter 5 Premium Insights
5.1 Porter’s Five Forces Analysis
5.1.1 Bargaining Power of Suppliers
5.1.2 Bargaining Power of Buyers
5.1.3 Threat of Substitute Types
5.1.4 Rivalry among Existing Firms
5.1.5 Threat of New Entrants
5.2 Supply Chain Analysis
5.3 Market Share Analysis of Key Players, 2024
5.4 Market Entry Strategy Assessment
5.5 Strategic Recommendation for Stakeholders
Chapter 6 Global Usage-based Insurance Market, By Type
6.1 Global Usage-based Insurance Market, By Type, 2025 - 2033
6.2 Pay-As-You-Drive
6.3 Pay-How-You-Drive
6.4 Manage-How-You-Drive
Chapter 7 Global Usage-based Insurance Market, By Technology
7.1 Global Usage-based Insurance Market, By Technology, 2025 - 2033
7.2 OBD-II
7.3 Smartphone
7.4 Black Box
7.5 Embedded Telematics
7.6 Others
Chapter 8 Global Usage-based Insurance Market, By Vehicle Type
8.1 Global Usage-based Insurance Market, By Vehicle Type, 2025 - 2033
8.2 Passenger Vehicles
8.3 Commercial Vehicles
8.3.1 Light Commercial Vehicles
8.3.2 Medium Commercial Vehicles
8.3.3 Heavy Commercial Vehicles
Chapter 9 Global Usage-based Insurance Market, By Vehicle Age
9.1 Global Usage-based Insurance Market, By Vehicle Age, 2025 - 2033
9.2 New Vehicles
9.3 Used Vehicles
Chapter 10 Global Usage-based Insurance Market, By Electric and Hybrid Vehicle
10.1 Global Usage-based Insurance Market, By Electric and Hybrid Vehicle, 2025 - 2033
10.2 HEV
10.3 PHEV
10.4 BEV
Chapter 11 Global Usage-based Insurance Market, By Region
11.1 Overview
11.2 North America
11.2.1 North America Usage-based Insurance Market, By Country
11.2.2 North America Usage-based Insurance Market, By Type
11.2.3 North America Usage-based Insurance Market, By Technology
11.2.4 North America Usage-based Insurance Market, By Vehicle Type
11.2.5 North America Usage-based Insurance Market, By Vehicle Age
11.2.6 North America Usage-based Insurance Market, By Electric and Hybrid Vehicle
11.2.7 United States
11.2.7.1 United States Usage-based Insurance Market, By Type
11.2.7.2 United States Usage-based Insurance Market, By Technology
11.2.7.3 United States Usage-based Insurance Market, By Vehicle Type
11.2.7.4 United States Usage-based Insurance Market, By Vehicle Age
11.2.7.5 United States Usage-based Insurance Market, By Electric and Hybrid Vehicle
11.2.8 Canada
11.2.8.1 Canada Usage-based Insurance Market, By Type
11.2.8.2 Canada Usage-based Insurance Market, By Technology
11.2.8.3 Canada Usage-based Insurance Market, By Vehicle Type
11.2.8.4 Canada Usage-based Insurance Market, By Vehicle Age
11.2.8.5 Canada Usage-based Insurance Market, By Electric and Hybrid Vehicle
11.2.9 Others
11.2.9.1 Others Usage-based Insurance Market, By Type
11.2.9.2 Others Usage-based Insurance Market, By Technology
11.2.9.3 Others Usage-based Insurance Market, By Vehicle Type
11.2.9.4 Others Usage-based Insurance Market, By Vehicle Age
11.2.9.5 Others Usage-based Insurance Market, By Electric and Hybrid Vehicle
11.3 Europe
11.3.1 Europe Usage-based Insurance Market, By Country
11.3.2 Europe Usage-based Insurance Market, By Type
11.3.3 Europe Usage-based Insurance Market, By Technology
11.3.4 Europe Usage-based Insurance Market, By Vehicle Type
11.3.5 Europe Usage-based Insurance Market, By Vehicle Age
11.3.6 Europe Usage-based Insurance Market, By Electric and Hybrid Vehicle
11.3.7 United Kingdom
11.3.7.1 United Kingdom Usage-based Insurance Market, By Type
11.3.7.2 United Kingdom Usage-based Insurance Market, By Technology
11.3.7.3 United Kingdom Usage-based Insurance Market, By Vehicle Type
11.3.7.4 United Kingdom Usage-based Insurance Market, By Vehicle Age
11.3.7.5 United Kingdom Usage-based Insurance Market, By Electric and Hybrid Vehicle
11.3.8 Germany
11.3.8.1 Germany Usage-based Insurance Market, By Type
11.3.8.2 Germany Usage-based Insurance Market, By Technology
11.3.8.3 Germany Usage-based Insurance Market, By Vehicle Type
11.3.8.4 Germany Usage-based Insurance Market, By Vehicle Age
11.3.8.5 Germany Usage-based Insurance Market, By Electric and Hybrid Vehicle
11.3.9 France
11.3.9.1 France Usage-based Insurance Market, By Type
11.3.9.2 France Usage-based Insurance Market, By Technology
11.3.9.3 France Usage-based Insurance Market, By Vehicle Type
11.3.9.4 France Usage-based Insurance Market, By Vehicle Age
11.3.9.5 France Usage-based Insurance Market, By Electric and Hybrid Vehicle
11.3.10 Italy
11.3.10.1 Italy Usage-based Insurance Market, By Type
11.3.10.2 Italy Usage-based Insurance Market, By Technology
11.3.10.3 Italy Usage-based Insurance Market, By Vehicle Type
11.3.10.4 Italy Usage-based Insurance Market, By Vehicle Age
11.3.10.5 Italy Usage-based Insurance Market, By Electric and Hybrid Vehicle
11.3.11 Spain
11.3.11.1 Spain Usage-based Insurance Market, By Type
11.3.11.2 Spain Usage-based Insurance Market, By Technology
11.3.11.3 Spain Usage-based Insurance Market, By Vehicle Type
11.3.11.4 Spain Usage-based Insurance Market, By Vehicle Age
11.3.11.5 Spain Usage-based Insurance Market, By Electric and Hybrid Vehicle
11.3.12 Others
11.3.12.1 Others Usage-based Insurance Market, By Type
11.3.12.2 Others Usage-based Insurance Market, By Technology
11.3.12.3 Others Usage-based Insurance Market, By Vehicle Type
11.3.12.4 Others Usage-based Insurance Market, By Vehicle Age
11.3.12.5 Others Usage-based Insurance Market, By Electric and Hybrid Vehicle
11.4 Asia Pacific
11.4.1 Asia Pacific Usage-based Insurance Market, By Country
11.4.2 Asia Pacific Usage-based Insurance Market, By Type
11.4.3 Asia Pacific Usage-based Insurance Market, By Technology
11.4.4 Asia Pacific Usage-based Insurance Market, By Vehicle Type
11.4.5 Asia Pacific Usage-based Insurance Market, By Vehicle Age
11.4.6 Asia Pacific Usage-based Insurance Market, By Electric and Hybrid Vehicle
11.4.7 China
11.4.7.1 China Usage-based Insurance Market, By Type
11.4.7.2 China Usage-based Insurance Market, By Technology
11.4.7.3 China Usage-based Insurance Market, By Vehicle Type
11.4.7.4 China Usage-based Insurance Market, By Vehicle Age
11.4.7.5 China Usage-based Insurance Market, By Electric and Hybrid Vehicle
11.4.8 Japan
11.4.8.1 Japan Usage-based Insurance Market, By Type
11.4.8.2 Japan Usage-based Insurance Market, By Technology
11.4.8.3 Japan Usage-based Insurance Market, By Vehicle Type
11.4.8.4 Japan Usage-based Insurance Market, By Vehicle Age
11.4.8.5 Japan Usage-based Insurance Market, By Electric and Hybrid Vehicle
11.4.9 India
11.4.9.1 India Usage-based Insurance Market, By Type
11.4.9.2 India Usage-based Insurance Market, By Technology
11.4.9.3 India Usage-based Insurance Market, By Vehicle Type
11.4.9.4 India Usage-based Insurance Market, By Vehicle Age
11.4.9.5 India Usage-based Insurance Market, By Electric and Hybrid Vehicle
11.4.10 South Korea
11.4.10.1 South Korea Usage-based Insurance Market, By Type
11.4.10.2 South Korea Usage-based Insurance Market, By Technology
11.4.10.3 South Korea Usage-based Insurance Market, By Vehicle Type
11.4.10.4 South Korea Usage-based Insurance Market, By Vehicle Age
11.4.10.5 South Korea Usage-based Insurance Market, By Electric and Hybrid Vehicle
11.4.11 Australia
11.4.11.1 Australia Usage-based Insurance Market, By Type
11.4.11.2 Australia Usage-based Insurance Market, By Technology
11.4.11.3 Australia Usage-based Insurance Market, By Vehicle Type
11.4.11.4 Australia Usage-based Insurance Market, By Vehicle Age
11.4.11.5 Australia Usage-based Insurance Market, By Electric and Hybrid Vehicle
11.4.12 Others
11.4.12.1 Others Usage-based Insurance Market, By Type
11.4.12.2 Others Usage-based Insurance Market, By Technology
11.4.12.3 Others Usage-based Insurance Market, By Vehicle Type
11.4.12.4 Others Usage-based Insurance Market, By Vehicle Age
11.4.12.5 Others Usage-based Insurance Market, By Electric and Hybrid Vehicle
11.5 Latin America
11.5.1 Latin America Usage-based Insurance Market, By Country
11.5.2 Latin America Usage-based Insurance Market, By Type
11.5.3 Latin America Usage-based Insurance Market, By Technology
11.5.4 Latin America Usage-based Insurance Market, By Vehicle Type
11.5.5 Latin America Usage-based Insurance Market, By Vehicle Age
11.5.6 Latin America Usage-based Insurance Market, By Electric and Hybrid Vehicle
11.5.7 Brazil
11.5.7.1 Brazil Usage-based Insurance Market, By Type
11.5.7.2 Brazil Usage-based Insurance Market, By Technology
11.5.7.3 Brazil Usage-based Insurance Market, By Vehicle Type
11.5.7.4 Brazil Usage-based Insurance Market, By Vehicle Age
11.5.7.5 Brazil Usage-based Insurance Market, By Electric and Hybrid Vehicle
11.5.8 Others
11.5.8.1 Others Usage-based Insurance Market, By Type
11.5.8.2 Others Usage-based Insurance Market, By Technology
11.5.8.3 Others Usage-based Insurance Market, By Vehicle Type
11.5.8.4 Others Usage-based Insurance Market, By Vehicle Age
11.5.8.5 Others Usage-based Insurance Market, By Electric and Hybrid Vehicle
11.6 Middle East and Africa (MEA)
11.6.1 Middle East and Africa (MEA) Usage-based Insurance Market, By Country
11.6.2 Middle East and Africa (MEA) Usage-based Insurance Market, By Type
11.6.3 Middle East and Africa (MEA) Usage-based Insurance Market, By Technology
11.6.4 Middle East and Africa (MEA) Usage-based Insurance Market, By Vehicle Type
11.6.5 Middle East and Africa (MEA) Usage-based Insurance Market, By Vehicle Age
11.6.6 Middle East and Africa (MEA) Usage-based Insurance Market, By Electric and Hybrid Vehicle
11.6.7 United Arab Emirates
11.6.7.1 United Arab Emirates Usage-based Insurance Market, By Type
11.6.7.2 United Arab Emirates Usage-based Insurance Market, By Technology
11.6.7.3 United Arab Emirates Usage-based Insurance Market, By Vehicle Type
11.6.7.4 United Arab Emirates Usage-based Insurance Market, By Vehicle Age
11.6.7.5 United Arab Emirates Usage-based Insurance Market, By Electric and Hybrid Vehicle
11.6.8 Others
11.6.8.1 Others Usage-based Insurance Market, By Type
11.6.8.2 Others Usage-based Insurance Market, By Technology
11.6.8.3 Others Usage-based Insurance Market, By Vehicle Type
11.6.8.4 Others Usage-based Insurance Market, By Vehicle Age
11.6.8.5 Others Usage-based Insurance Market, By Electric and Hybrid Vehicle
Chapter 12 Competitive Landscape
12.1 Strategic Move Analysis
12.1.1 Top Player Positioning/Market Share Analysis
12.1.2 Top Winning Strategies, By Year, 2021-2024
12.1.3 Competitive Analysis by Revenue, 2022-2024
12.2 Recent Developments by the Market Participants (2024-25)
Chapter 13 Company Profiles
13.1 Progressive Corporation
13.1.1 Company Snapshot
13.1.2 Company Overview
13.1.3 Financial Performance
13.1.4 Product Portfolio
13.1.5 Strategic Growth
13.2 Allstate Insurance Company
13.2.1 Company Snapshot
13.2.2 Company Overview
13.2.3 Financial Performance
13.2.4 Product Portfolio
13.2.5 Strategic Growth
13.3 State Farm Mutual Automobile Insurance Company
13.3.1 Company Snapshot
13.3.2 Company Overview
13.3.3 Financial Performance
13.3.4 Product Portfolio
13.3.5 Strategic Growth
13.4 Geico (Berkshire Hathaway)
13.4.1 Company Snapshot
13.4.2 Company Overview
13.4.3 Financial Performance
13.4.4 Product Portfolio
13.4.5 Strategic Growth
13.5 Liberty Mutual Insurance
13.5.1 Company Snapshot
13.5.2 Company Overview
13.5.3 Financial Performance
13.5.4 Product Portfolio
13.5.5 Strategic Growth
13.6 USAA
13.6.1 Company Snapshot
13.6.2 Company Overview
13.6.3 Financial Performance
13.6.4 Product Portfolio
13.6.5 Strategic Growth
13.7 Nationwide Mutual Insurance Company
13.7.1 Company Snapshot
13.7.2 Company Overview
13.7.3 Financial Performance
13.7.4 Product Portfolio
13.7.5 Strategic Growth
13.8 Farmers Insurance Group
13.8.1 Company Snapshot
13.8.2 Company Overview
13.8.3 Financial Performance
13.8.4 Product Portfolio
13.8.5 Strategic Growth
13.9 Travelers Companies Inc.
13.9.1 Company Snapshot
13.9.2 Company Overview
13.9.3 Financial Performance
13.9.4 Product Portfolio
13.9.5 Strategic Growth
13.10 Metromile Inc.
13.10.1 Company Snapshot
13.10.2 Company Overview
13.10.3 Financial Performance
13.10.4 Product Portfolio
13.10.5 Strategic Growth
13.11 Root Insurance Company
13.11.1 Company Snapshot
13.11.2 Company Overview
13.11.3 Financial Performance
13.11.4 Product Portfolio
13.11.5 Strategic Growth
13.12 Hugo Insurance
13.12.1 Company Snapshot
13.12.2 Company Overview
13.12.3 Financial Performance
13.12.4 Product Portfolio
13.12.5 Strategic Growth
13.13 By Miles Ltd.
13.13.1 Company Snapshot
13.13.2 Company Overview
13.13.3 Financial Performance
13.13.4 Product Portfolio
13.13.5 Strategic Growth
13.14 Aviva plc
13.14.1 Company Snapshot
13.14.2 Company Overview
13.14.3 Financial Performance
13.14.4 Product Portfolio
13.14.5 Strategic Growth
13.15 Allianz SE
13.15.1 Company Snapshot
13.15.2 Company Overview
13.15.3 Financial Performance
13.15.4 Product Portfolio
13.15.5 Strategic Growth

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