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How Automotive Usage Based Insurance Market Players have Encountered Temporary Covid-19 Tailwinds; Worth Watching New Growth Cycle
Automotive Usage Based Insurance Market Latest Edition Published with Forecast to 2028- May 15, 2023
- Property & Casualty Insurance
As per the Insurance Regulatory and Development Authority (IRDA) guidelines the general insurers offering motor insurance should adhere to at all times.
According to the report, Rising Accidents of Automobiles over the Globe is one of the primary growth factors for the market. Growing Urbanization and Rising per Capita Disposable Income is also expected to contribute significantly to the Automotive Usage Based Insurance market. Overall, applications of Automotive Usage Based Insurance, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The End-Use Verticals, such as Commercial, is boosting the Automotive Usage Based Insurance market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Coverage, such as Auto Liability Coverage, is boosting the Automotive Usage Based Insurance market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
New technologies and major shifts in the industry will be game-changing factors that all players have to react now in order to maintain strong positions in the future. As many industry experts agree that significant changes are ahead. AMA’s Analyst on the Global Automotive Usage Based Insurance market identified that the demand is rising in many different parts of the world as "Growing Adoption of Automobiles can create Opportunities for Market Growth". Furthermore, some recent industry insights like "On 2020. IMS has launched a toolset. The new tools enable insurers and mobility operators to expand the ways they can interact with usage-based insurance (UBI) customers." which is constantly making the industry very dynamic.
The report provides an in-depth analysis and forecast about the industry covering the following key features:
o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies
o Analyses the Global Automotive Usage Based Insurance market according to Type, Application, and regions
o Analyzes the top 10 players in terms of market reach, business strategy, and business focus
o Provides stakeholders’ insights and key drivers & trends of the market
**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2022 currency rates.
Market Size Estimation
In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Automotive Usage Based Insurance market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research.
o The industry’s supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes.
o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation
The overall Automotive Usage Based Insurance market size is calculated using market estimation process, the Automotive Usage Based Insurance market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Automotive Usage Based Insurance market size has been validated using both top-down and bottom-up approaches.
According to the report, Rising Accidents of Automobiles over the Globe is one of the primary growth factors for the market. Growing Urbanization and Rising per Capita Disposable Income is also expected to contribute significantly to the Automotive Usage Based Insurance market. Overall,
New technologies and major shifts in the industry will be game-changing factors that all players have to react now in order to maintain strong positions in the future. As many industry experts agree that significant changes are ahead. AMA’s Analyst on the Global Automotive Usage Based Insurance market identified that the demand is rising in many different parts of the world as "Growing Adoption of Automobiles can create Opportunities for Market Growth". Furthermore, some recent industry insights like "On 2020. IMS has launched a toolset. The new tools enable insurers and mobility operators to expand the ways they can interact with usage-based insurance (UBI) customers." which is constantly making the industry very dynamic.
The report provides an in-depth analysis and forecast about the industry covering the following key features:
o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies
o Analyses the Global Automotive Usage Based Insurance market according to Type, Application, and regions
o Analyzes the top 10 players in terms of market reach, business strategy, and business focus
o Provides stakeholders’ insights and key drivers & trends of the market
**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2022 currency rates.
Market Size Estimation
In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Automotive Usage Based Insurance market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research.
o The industry’s supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes.
o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation
The overall Automotive Usage Based Insurance market size is calculated using market estimation process, the Automotive Usage Based Insurance market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Automotive Usage Based Insurance market size has been validated using both top-down and bottom-up approaches.
Praveen Kumar
Head & Director of Sales