North America Automotive Usage-Based Insurance Market to Reach US$ 44.45 Bn at CAGR of 22.4% in 2027 | The Insight Partners

North America Automotive Usage-Based Insurance (UBI) Market to 2027 - Regional Analysis and Forecasts by Technology Fitted (Smartphones, Black Box, and Dongles); and Policy Type (Pay-As-You-Drive and Pay-How-You-Drive)

Publication Month: Jun 2019 | Report Code: TIPRE00005463 | No. of Pages: 109 | Category: Automotive and Transportation | Status: Published
Automotive UBI market in North America is expected to grow from US$ 7.24 Bn in 2018 to US$ 44.45 Bn by the year 2027 with a CAGR of 22.4% from the year 2019 to 2027.

The increase in Acceptance of Mobility-as-a-Service (MaaS) is fueling the growth of the Automotive UBI market. Moreover, the increase in collaborations among telematics companies and insurance companies is anticipated to boost Automotive UBI market growth in the forecast period. Mobility-as-a-Service aims to provide consumer an end-to-end transportation with the use of different modes of transportation, thereby, making substantial use of the existing transportation infrastructure in an area. The increasing traction of MaaS among the consumers is leading the third party service providers to procure increased count of vehicles to enhance the customer experience. This factor is also increasing the number of service providers across the globe; some of the prominent mobility-as-a-service providers are Uber, Lyft, Zipcar, Car2go, Beeline Singapore, UbiGo AB, and Smile Mobility among others. The increasing procurement of vehicles by these car service providers is further influencing the telematics technology providers (TTP), telematics service providers (TSP), and auto insurers to develop advanced insurance solutions. Moreover, several telematics providers and insurance companies are partnering with each other to introduce advanced and robust insurance solutions. This is expected to ramp up the market growth of telematics insurance or automotive UBI.

The smartphone segment is expected to be one of the leading technology with the highest market share in the North America Automotive UBI market during the forecast period. A smartphone app can have powerful GPS and accelerometer competences. The app offers a compelling interface for the insurance provider to communicate with the customer and provide other services including, weather updates, traffic reports, and breakdown services. Generally, customers are more comfortable to use smartphone apps, although OBDII devices are easier to install. Smartphone apps are suitable for insurance providers that are targeting particular groups hence, acquiring niche market share. As their UBI business grows, insurance providers may invest in OBDII and offer this on a long-term basis to specific customer segments.

The US dominated the Automotive UBI market in 2018 and is anticipated to lead the market across the North American region through the forecast period, followed by Canada. The figure given below highlights the revenue share of the Canada in the North American Automotive UBI market in the forecast period:

Exhibit: Canada Automotive UBI Market Revenue and Forecasts to 2027 (US$ Bn)


NORTH AMERICA AUTOMOTIVE UBI MARKET SEGMENTATION

By Technology Fitted
• Smartphones
• Black Box
• Dongles
• Others

By Policy Type
• Pay-As-You-Drive (PAYD)
• Pay-How-You-Drive (PHYD)

By Country
• U.S.
• Canada
• Mexico

Automotive UBI Market - Companies Mentioned
• Allstate Insurance Company
• Allianz SE
• Metromile, Inc.
• Octo Telematics S.p.A
• Vodafone Automotive S.P.A.
• AXA SA
• Liberty Mutual Insurance Company
• TomTom Telematics BV
• Sierra Wireless, Inc.
• Unipolsai Assicurazioni S.p.A.

PART 1.       iNTRODUCTION

1.1            Scope of the Study

1.2            The Insight Partners Research Report Guidance

1.3            Market segmentation

1.3.1          Asia Pacific Automotive UBI Market – By Technology Fitted

1.3.2          Asia Pacific Automotive UBI Market – By Policy Type

1.3.3          Asia Pacific Automotive UBI Market – By Country

PART 2.       key takeaways

PART 3.       Research Methodology

3.1            Coverage

3.2            Secondary Research

3.3            Primary Research

PART 4.       Automotive UBI market landscape

4.1            Market overview

4.2            ecosystem aNALYSIS

4.3            Asia PAcific - pest analysis

PART 5.       aUTOMOTIVE ubi market – key industry dynamics

5.1            key market drivers

5.1.1          Increasing Demand for Mobility-as-a-Service (MaaS)

5.1.2          Various type of insurance premium policies

5.2            Key market restraints

5.2.1          Less focus on creating awareness on usage-based insurance in emerging countries

5.3            key market opportunities

5.3.1          Strategic Partnerships among Insurance Companies and Telematics Companies

5.4            Future trends

5.4.1          Integration of advanced telematics technologies in the vehicles to accentuate the demand of UBI

5.5            impact analysis of Drivers and restraints

PART 6.       automotive UBI – Asia Pacific market analysis

6.1            Asia Pacific Automotive UBI Market Overview

6.2            Asia Pacific Automotive UBI Market Forecast and Analysis

PART 7.       Asia pacific automotive UBI market revenue and forecasts to 2027 –technology fitted

7.1            Overview

7.2            Asia Pacific technology fitted market forecasts and analysis

7.3            Smartphones

7.3.1          Overview

7.3.2          Asia Pacific Smartphones Automotive UBI market forecasts and analysis

7.4            black box

7.4.1          Overview

7.4.2          Asia Pacific Black Box Automotive UBI market forecasts and analysis

7.5            dongles

7.5.1          Overview

7.5.2          Asia Pacific Dongles Automotive UBI market forecasts and analysis

7.6            others

7.6.1          Overview

7.6.2          Asia Pacific Others Automotive UBI market forecasts and analysis

PART 8.       asia pacific Automotive UBI market revenue and forecasts to 2027 –  by policy type

8.1            Overview

8.2            asia pacific policy type market forecasts and analysis

8.3            PAY-as-you-drive (PAYD)

8.3.1          Overview

8.3.2          Asia Pacific PAYD market forecasts and analysis

8.4            pay-how-you-drive (PHYD)

8.4.1          Overview

8.4.2          Asia Pacific PHYD market forecasts and analysis

PART 9.       Asia Pacific Automotive UBI market– Country ANalysis

9.1            Overview

9.1.1          Asia Pacific Automotive UBI market Breakdown by Key Countries

9.1.1.1      Australia Automotive UBI market Revenue and Forecasts to 2027 (US$ Mn)

9.1.1.1.1       Australia Automotive UBI Market Revenue and Forecasts to 2027 (US$ Mn), by Technology Fitted

9.1.1.1.2       Australia Automotive UBI Market Revenue and Forecasts to 2027 (US$ Mn), by Policy Type

9.1.1.2      China Automotive UBI market Revenue and Forecasts to 2027 (US$ Mn)

9.1.1.2.1       China Automotive UBI Market Revenue and Forecasts to 2027 (US$ Mn), by Technology Fitted

9.1.1.2.2       China Automotive UBI Market Revenue and Forecasts to 2027 (US$ Mn), by Policy Type

9.1.1.3      Singapore Automotive UBI market Revenue and Forecasts to 2027 (US$ Mn)

9.1.1.3.1       Singapore Automotive UBI Market Revenue and Forecasts to 2027 (US$ Mn), by Technology Fitted

9.1.1.3.2       Singapore Automotive UBI Market Revenue and Forecasts to 2027 (US$ Mn), by Policy Type

9.1.1.4      Rest of APAC Automotive UBI market Revenue and Forecasts to 2027 (US$ Mn)

9.1.1.4.1       Rest of APAC Automotive UBI Market Revenue and Forecasts to 2027 (US$ Mn), by Technology Fitted

9.1.1.4.2       Rest of APAC Automotive UBI Market Revenue and Forecasts to 2027 (US$ Mn), by Policy Type

PART 10.    Industry Landscape

10.1         Market Initiative

10.2         Merger and Acquisition

10.3         New Development

PART 11.    Automotive UBI market- key company profiles

11.1         Assicurazioni Generali S.p.A.

11.1.1       Key Facts

11.1.2       Business Description

11.1.3       Product & Services

11.1.4       Financial Overview

11.1.5       SWOT Analysis

11.1.6       Key Developments

11.2         Allianz se

11.2.1       Key Facts

11.2.2       Business Description

11.2.3       Products & Services

11.2.4       Financial Overview

11.2.5       SWOT Analysis

11.2.6       Key Developments

11.3         MS&AD Insurance Group Holdings, Inc.

11.3.1       Key Facts

11.3.2       Business Description

11.3.3       Product & Services

11.3.4       Financial Overview

11.3.5       SWOT Analysis

11.3.6       Key Developments

11.4         octo telematics s.p.a

11.4.1       Key Facts

11.4.2       Business Description

11.4.3       Products & Services

11.4.4       Financial Overview

11.4.5       SWOT Analysis

11.4.6       Key Developments

11.5         Vodafone Automotive spa

11.5.1       Key Facts

11.5.2       Business Description

11.5.3       Products & Services

11.5.4       Financial Overview

11.5.5       SWOT Analysis

11.5.6       Key Developments

11.6         AXA sa

11.6.1       Key Facts

11.6.2       Business Description

11.6.3       Products & Services

11.6.4       Financial Overview

11.6.5       SWOT Analysis

11.6.6       Key Developments

11.7         Liberty Mutual Insurance Company

11.7.1       Key Facts

11.7.2       Business Description

11.7.3       Products & Services

11.7.4       Financial Overview

11.7.5       SWOT Analysis

11.7.6       Key Developments

11.8         TomTom Telematics Bv.

11.8.1       Key Facts

11.8.2       Business Description

11.8.3       Products and Services

11.8.4       Financial Overview

11.8.5       SWOT Analysis

11.8.6       Key Developments

11.9         Sierra Wireless, Inc.

11.9.1       Key Facts

11.9.2       Business Description

11.9.3       Products & Services

11.9.4       Financial Overview

11.9.5       SWOT Analysis

11.9.6       Key Developments

11.10      Unipolsai Assicurazioni S.p.A.

11.10.1     Key Facts

11.10.2     Business Description

11.10.3     Products and Services

11.10.4     Financial Overview

11.10.5     SWOT Analysis

11.10.6     Key Developments

PART 12.    Appendix

12.1         About The Insight Partners

12.2         Glossary of Terms

list of tables

TABLE 1.           Asia Pacific Automotive UBI system Market Revenue and Forecasts to 2027 (US$ Mn)

TABLE 2.           asia-pacific Automotive UBI market Revenue and Forecasts to 2027 – By Technology Fitted (US$ Mn)

TABLE 3.           asia-pacific Automotive UBI market Revenue and Forecasts to 2027 – By Policy Type (US$ Mn)

TABLE 4.           Australia Automotive UBI market Revenue and Forecasts to 2027 – By technology fitted (US$ Mn)

TABLE 5.           Australia Automotive UBI market Revenue and Forecasts to 2027 – By policy type (US$ Mn)

TABLE 6.           China Automotive UBI market Revenue and Forecasts to 2027 – By technology fitted (US$ Mn)

TABLE 7.           China Automotive UBI market Revenue and Forecasts to 2027 – By policy type (US$ Mn)

TABLE 8.           Singapore Automotive UBI market Revenue and Forecasts to 2027 – By technology fitted (US$ Mn)

TABLE 9.           Singapore Automotive UBI market Revenue and Forecasts to 2027 – By policy type (US$ Mn)

TABLE 10.        Rest of APAC Automotive UBI market Revenue and Forecasts to 2027 – By technology fitted (US$ Mn)

TABLE 11.        Rest of APAC Automotive UBI market Revenue and Forecasts to 2027 – By policy type (US$ Mn)

TABLE 12.        Glossary of Term: Automotive UBI Market

 

list of figures

FIGURE 1.        Automotive UBI Market Segmentation

FIGURE 2.        Automotive UBI Market by region

FIGURE 3.        Asia-Pacific incremental growth Analysis, 2017-2027 (in US$ Mn)

FIGURE 4.        ECOSYSTEM ANALYSIS

FIGURE 5.        asia pacific – pest analysis

FIGURE 6.        aUTOMOTIVE ubi Market Impact Analysis of Driver and Restraints

FIGURE 7.        Asia Pacific Automotive UBI Market Forecast and Analysis

FIGURE 8.        Asia Pacific automotive UBI Market Breakdown By technology fitted, 2018 & 2027 (%)

FIGURE 9.        Asia Pacific smartphones Automotive UBI Market Revenue and Forecasts to 2027 (US$ Mn)

FIGURE 10.     Asia Pacific black box Automotive UBI Market Revenue and Forecasts to 2027 (US$ Mn)

FIGURE 11.     Asia Pacific dongles Automotive UBI Market Revenue and Forecasts to 2027 (US$ Mn)

FIGURE 12.     Asia Pacific others Automotive UBI Market Revenue and Forecasts to 2027 (US$ Mn)

FIGURE 13.     Asia Pacific Automotive UBI Market Breakdown By policy type, by revenue, 2018 & 2027 (%)

FIGURE 14.     Asia Pacific PAYD Market Revenue and Forecasts to 2027 (US$ Mn)

FIGURE 15.     Asia Pacific PHYD Market Revenue and Forecasts to 2027 (US$ Mn)

FIGURE 16.     Asia Pacific Automotive UBI market Breakdown by Key Countries, 2018 & 2027 (%)

FIGURE 17.     Australia Automotive UBI market Revenue and Forecasts to 2027 (US$ mn)

FIGURE 18.     China Automotive UBI market Revenue and Forecasts to 2027 (US$ Mn)

FIGURE 19.     singapore Automotive UBI market Revenue and Forecasts to 2027 (US$ Mn)

FIGURE 20.     Rest of APAC Automotive UBI market Revenue and Forecasts to 2027 (US$ mn)

 

The List of Companies

  1. Allianz SE
  2. Assicurazioni Generali S.p.A.
  3. AXA SA
  4. Liberty Mutual Insurance Company
  5. MS&AD Insurance Group Holdings, Inc.
  6. Octo Telematics S.p.A
  7. Sierra Wireless, Inc.
  8. TomTom Telematics BV
  9. Unipolsai Assicurazioni S.p.A.
  10. Vodafone Automotive S.P.A
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific Automotive UBI market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific automotive UBI market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution