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DATE
MAR 2023
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102
PAGES
158
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HIGHLIGHTS & REPORT INDEX
What`s New for 2023?
»Special coverage on Russia-Ukraine war; global inflation; easing of "zero-Covid" policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
»Global competitiveness and key competitor percentage market shares
» Market presence across multiple geographies - Strong/Active/Niche/Trivial
»Online interactive peer-to-peer collaborative bespoke updates
»Access to our digital archives and MarketGlass Research Platform
»Complimentary updates for one year
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China’s already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
Global Usage-based Insurance Market to Reach $145 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Usage-based Insurance estimated at US$24.1 Billion in the year 2022, is projected to reach a revised size of US$145 Billion by 2030, growing at aCAGR of 25.2% over the period 2022-2030. Pay-As-You-Drive (PAYD), one of the segments analyzed in the report, is projected to record 27.6% CAGR and reach US$75.7 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Pay-How-You-Drive (PHYD) segment is readjusted to a revised 24.5% CAGR for the next 8-year period.
The U.S. Market is Estimated at $7.2 Billion, While China is Forecast to Grow at 23.8% CAGR
The Usage-based Insurance market in the U.S. is estimated at US$7.2 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$23.8 Billion by the year 2030 trailing a CAGR of 23.8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 23% and 21.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 17.7% CAGR.
SELECT PLAYERS
Allianz SE; Allstate Insurance Company; Cambridge Mobile Telematics; Inseego Corporation; insurethebox; Intelligent Mechatronic Systems, Inc.; Liberty Mutual Insurance; Mapfre; Modus Group; Octo Telematics Ltd.; Progressive Corporation; Sierra Wireless, Inc.; The Floow Ltd.; TomTom International BV; TrueMotion; Unipolsai Assicurazioni S.P.A.; Verizon Enterprise Solutions; Vodafone Group PLC
SEGMENTS
» Package (Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD), Manage-How-You-Drive (MHYD)) » Technology (Black Box, OBD-II, Smartphones, Embedded Systems, Other Technologies)
GEOGRAPHIES
» World » United States » Canada » Japan » China » Europe » France » Germany » Italy » United Kingdom » and Rest of Europe » Asia-Pacific » Rest of World
TABLE OF CONTENTS
I. METHODOLOGY |
II. EXECUTIVE SUMMARY |
1. MARKET OVERVIEW |
Influencer Market Insights |
World Market Trajectories |
Usage-based Insurance – Global Key Competitors Percentage Market Share in 2022 (E) |
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E) |
Impact of Covid-19 and a Looming Global Recession |
2. FOCUS ON SELECT PLAYERS |
3. MARKET TRENDS & DRIVERS |
4. GLOBAL MARKET PERSPECTIVE |
World Recent Past, Current & Future Analysis for Usage-based Insurance by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR |
World 7-Year Perspective for Usage-based Insurance by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2021 & 2027 |
World Recent Past, Current & Future Analysis for PAYD by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR |
World 7-Year Perspective for PAYD by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027 |
World Recent Past, Current & Future Analysis for PHYD by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR |
World 7-Year Perspective for PHYD by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027 |
World Recent Past, Current & Future Analysis for MHYD by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR |
World 7-Year Perspective for MHYD by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027 |
World Recent Past, Current & Future Analysis for OBD-II by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR |
World 7-Year Perspective for OBD-II by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027 |
World Recent Past, Current & Future Analysis for Smartphone by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR |
World 7-Year Perspective for Smartphone by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027 |
World Recent Past, Current & Future Analysis for Embedded System by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR |
World 7-Year Perspective for Embedded System by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027 |
World Recent Past, Current & Future Analysis for Black Box by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR |
World 7-Year Perspective for Black Box by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027 |
World Recent Past, Current & Future Analysis for Other Technologies by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR |
World 7-Year Perspective for Other Technologies by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027 |
World Usage-based Insurance Market Analysis of Annual Sales in US$ Million for Years 2012 through 2027 |
III. MARKET ANALYSIS |
UNITED STATES |
Usage-based Insurance Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E) |
USA Recent Past, Current & Future Analysis for Usage-based Insurance by Package - PAYD, PHYD and MHYD - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
USA 7-Year Perspective for Usage-based Insurance by Package - Percentage Breakdown of Value Sales for PAYD, PHYD and MHYD for the Years 2021 & 2027 |
USA Recent Past, Current & Future Analysis for Usage-based Insurance by Technology - OBD-II, Smartphone, Embedded System, Black Box and Other Technologies - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
USA 7-Year Perspective for Usage-based Insurance by Technology - Percentage Breakdown of Value Sales for OBD-II, Smartphone, Embedded System, Black Box and Other Technologies for the Years 2021 & 2027 |
CANADA |
Canada Recent Past, Current & Future Analysis for Usage-based Insurance by Package - PAYD, PHYD and MHYD - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Canada 7-Year Perspective for Usage-based Insurance by Package - Percentage Breakdown of Value Sales for PAYD, PHYD and MHYD for the Years 2021 & 2027 |
Canada Recent Past, Current & Future Analysis for Usage-based Insurance by Technology - OBD-II, Smartphone, Embedded System, Black Box and Other Technologies - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Canada 7-Year Perspective for Usage-based Insurance by Technology - Percentage Breakdown of Value Sales for OBD-II, Smartphone, Embedded System, Black Box and Other Technologies for the Years 2021 & 2027 |
JAPAN |
Usage-based Insurance Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E) |
Japan Recent Past, Current & Future Analysis for Usage-based Insurance by Package - PAYD, PHYD and MHYD - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Japan 7-Year Perspective for Usage-based Insurance by Package - Percentage Breakdown of Value Sales for PAYD, PHYD and MHYD for the Years 2021 & 2027 |
Japan Recent Past, Current & Future Analysis for Usage-based Insurance by Technology - OBD-II, Smartphone, Embedded System, Black Box and Other Technologies - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Japan 7-Year Perspective for Usage-based Insurance by Technology - Percentage Breakdown of Value Sales for OBD-II, Smartphone, Embedded System, Black Box and Other Technologies for the Years 2021 & 2027 |
CHINA |
Usage-based Insurance Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E) |
China Recent Past, Current & Future Analysis for Usage-based Insurance by Package - PAYD, PHYD and MHYD - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
China 7-Year Perspective for Usage-based Insurance by Package - Percentage Breakdown of Value Sales for PAYD, PHYD and MHYD for the Years 2021 & 2027 |
China Recent Past, Current & Future Analysis for Usage-based Insurance by Technology - OBD-II, Smartphone, Embedded System, Black Box and Other Technologies - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
China 7-Year Perspective for Usage-based Insurance by Technology - Percentage Breakdown of Value Sales for OBD-II, Smartphone, Embedded System, Black Box and Other Technologies for the Years 2021 & 2027 |
EUROPE |
Usage-based Insurance Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E) |
Europe Recent Past, Current & Future Analysis for Usage-based Insurance by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR |
Europe 7-Year Perspective for Usage-based Insurance by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2021 & 2027 |
Europe Recent Past, Current & Future Analysis for Usage-based Insurance by Package - PAYD, PHYD and MHYD - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Europe 7-Year Perspective for Usage-based Insurance by Package - Percentage Breakdown of Value Sales for PAYD, PHYD and MHYD for the Years 2021 & 2027 |
Europe Recent Past, Current & Future Analysis for Usage-based Insurance by Technology - OBD-II, Smartphone, Embedded System, Black Box and Other Technologies - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Europe 7-Year Perspective for Usage-based Insurance by Technology - Percentage Breakdown of Value Sales for OBD-II, Smartphone, Embedded System, Black Box and Other Technologies for the Years 2021 & 2027 |
FRANCE |
Usage-based Insurance Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E) |
France Recent Past, Current & Future Analysis for Usage-based Insurance by Package - PAYD, PHYD and MHYD - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
France 7-Year Perspective for Usage-based Insurance by Package - Percentage Breakdown of Value Sales for PAYD, PHYD and MHYD for the Years 2021 & 2027 |
France Recent Past, Current & Future Analysis for Usage-based Insurance by Technology - OBD-II, Smartphone, Embedded System, Black Box and Other Technologies - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
France 7-Year Perspective for Usage-based Insurance by Technology - Percentage Breakdown of Value Sales for OBD-II, Smartphone, Embedded System, Black Box and Other Technologies for the Years 2021 & 2027 |
GERMANY |
Usage-based Insurance Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E) |
Germany Recent Past, Current & Future Analysis for Usage-based Insurance by Package - PAYD, PHYD and MHYD - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Germany 7-Year Perspective for Usage-based Insurance by Package - Percentage Breakdown of Value Sales for PAYD, PHYD and MHYD for the Years 2021 & 2027 |
Germany Recent Past, Current & Future Analysis for Usage-based Insurance by Technology - OBD-II, Smartphone, Embedded System, Black Box and Other Technologies - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Germany 7-Year Perspective for Usage-based Insurance by Technology - Percentage Breakdown of Value Sales for OBD-II, Smartphone, Embedded System, Black Box and Other Technologies for the Years 2021 & 2027 |
ITALY |
Italy Recent Past, Current & Future Analysis for Usage-based Insurance by Package - PAYD, PHYD and MHYD - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Italy 7-Year Perspective for Usage-based Insurance by Package - Percentage Breakdown of Value Sales for PAYD, PHYD and MHYD for the Years 2021 & 2027 |
Italy Recent Past, Current & Future Analysis for Usage-based Insurance by Technology - OBD-II, Smartphone, Embedded System, Black Box and Other Technologies - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Italy 7-Year Perspective for Usage-based Insurance by Technology - Percentage Breakdown of Value Sales for OBD-II, Smartphone, Embedded System, Black Box and Other Technologies for the Years 2021 & 2027 |
UNITED KINGDOM |
Usage-based Insurance Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E) |
UK Recent Past, Current & Future Analysis for Usage-based Insurance by Package - PAYD, PHYD and MHYD - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
UK 7-Year Perspective for Usage-based Insurance by Package - Percentage Breakdown of Value Sales for PAYD, PHYD and MHYD for the Years 2021 & 2027 |
UK Recent Past, Current & Future Analysis for Usage-based Insurance by Technology - OBD-II, Smartphone, Embedded System, Black Box and Other Technologies - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
UK 7-Year Perspective for Usage-based Insurance by Technology - Percentage Breakdown of Value Sales for OBD-II, Smartphone, Embedded System, Black Box and Other Technologies for the Years 2021 & 2027 |
REST OF EUROPE |
Rest of Europe Recent Past, Current & Future Analysis for Usage-based Insurance by Package - PAYD, PHYD and MHYD - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Rest of Europe 7-Year Perspective for Usage-based Insurance by Package - Percentage Breakdown of Value Sales for PAYD, PHYD and MHYD for the Years 2021 & 2027 |
Rest of Europe Recent Past, Current & Future Analysis for Usage-based Insurance by Technology - OBD-II, Smartphone, Embedded System, Black Box and Other Technologies - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Rest of Europe 7-Year Perspective for Usage-based Insurance by Technology - Percentage Breakdown of Value Sales for OBD-II, Smartphone, Embedded System, Black Box and Other Technologies for the Years 2021 & 2027 |
ASIA-PACIFIC |
Usage-based Insurance Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E) |
Asia-Pacific Recent Past, Current & Future Analysis for Usage-based Insurance by Package - PAYD, PHYD and MHYD - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Asia-Pacific 7-Year Perspective for Usage-based Insurance by Package - Percentage Breakdown of Value Sales for PAYD, PHYD and MHYD for the Years 2021 & 2027 |
Asia-Pacific Recent Past, Current & Future Analysis for Usage-based Insurance by Technology - OBD-II, Smartphone, Embedded System, Black Box and Other Technologies - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Asia-Pacific 7-Year Perspective for Usage-based Insurance by Technology - Percentage Breakdown of Value Sales for OBD-II, Smartphone, Embedded System, Black Box and Other Technologies for the Years 2021 & 2027 |
REST OF WORLD |
Rest of World Recent Past, Current & Future Analysis for Usage-based Insurance by Package - PAYD, PHYD and MHYD - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Rest of World 7-Year Perspective for Usage-based Insurance by Package - Percentage Breakdown of Value Sales for PAYD, PHYD and MHYD for the Years 2021 & 2027 |
Rest of World Recent Past, Current & Future Analysis for Usage-based Insurance by Technology - OBD-II, Smartphone, Embedded System, Black Box and Other Technologies - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Rest of World 7-Year Perspective for Usage-based Insurance by Technology - Percentage Breakdown of Value Sales for OBD-II, Smartphone, Embedded System, Black Box and Other Technologies for the Years 2021 & 2027 |
IV. COMPETITION |
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