Usage-Based Insurance Market Size, Business Growth, Drivers, Trends By 2033

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Usage-Based Insurance Global Market Report 2024
Global Forecast 2024 2033 Market Size, Drivers,
And Trends
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Usage-Based Insurance Market Segments
The Business Research Company segments the
usage-based insurance market report as
By Vehicle Type
Light-Duty Vehicle (LDV), Heavy-Duty Vehicle (HDV)
On-Board Diagnostic (OBD)-II-Based UBI Programs,
Smartphone-Based UBI Programs, Black-Box-Based
UBI Programs, Other Technologies
By Technology
Pay-As-You-Drive (PAYD), Pay-How-You-Drive
(PHYD), Manage-How-You-Drive (MHYD)
By Package Type
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Market Statistics
The global Usage-Based Insurance market size grew
from 48.38 billion in 2023 to 63.29 billion in
2024 at a compound annual growth rate (CAGR) of
30.8.The Usage-Based Insurance market size is
expected to grow to 175.27 billion in 2028 at a
compound annual growth rate (CAGR) of 29.0.
175.27 B
63.29 B
48.38 B
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Key Market Drivers And Trends
Drivers
Increasing concerns regarding road traffic and
vehicle safety will drive the usage-based
insurance market.
Trends
Partnerships and collaborations among market
players are gaining popularity in the usage-based
insurance market.
Region
North America was the largest region in the
Usage-Based Insurance market in 2023. The regions
covered in the Usage-Based Insurance market
analysis report are Asia-Pacific, Western Europe,
Eastern Europe, North America, South America,
Middle East and Africa.
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Top Eleven Players In The Market

• Major players in the market are
• Progressive Corporation
• Allstate Corporation
• UNIPOLSAI ASSICURAZIONI S.P.A
• Allianz SE
• Liberty Mutual Insurance
• AXA

• Mapfre S.A.
• State Farm Mutual Automobile Insurance Company
• American International Group Inc.
• Nationwide Mutual Insurance Company
• Tata AIG

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   through forecast data and market insights.
6. Competitor Benchmarking Compare performance
   against key competitors.
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