Usage-Based Car Insurance, also known as pay as you drive (PAYD), pay how you drive (PHYD) and mile-based auto insurance, is听a type of vehicle insurance whereby the costs are dependent upon type of vehicle used, measured against time, distance, behavior and place.
The global Usage-Based Car Insurance market was valued at US$ million in 2023 and is anticipated to reach US$ million by 2030, witnessing a CAGR of % during the forecast period 2024-2030.
The global usage-based car insurance market refers to the market for insurance policies that calculate premiums based on individual driving behavior and usage patterns. Traditional car insurance typically relies on factors such as age, gender, and vehicle type to determine premiums. However, with the advent of telematics technology, insurers are now able to collect data directly from the vehicle, allowing them to assess risk more accurately and offer personalized insurance plans.
Several factors are driving the growth of the global usage-based car insurance market. These include:
Cost-saving potential: Usage-based car insurance offers the potential for lower premiums for drivers who exhibit safe driving habits. By incentivizing safe driving behavior, insurers can reduce the risk profile of their policyholders, resulting in lower premiums.
Technological advancements: The increasing availability and affordability of telematics devices, GPS technology, and connected car systems have made it easier for insurers to collect real-time data on factors like speed, acceleration, braking, and mileage. These technological advancements have facilitated the growth of the usage-based car insurance market.
Changing customer preferences: Consumers are increasingly seeking personalized insurance solutions that provide fair pricing based on their actual driving habits. Usage-based car insurance aligns with this demand and allows customers to have more control over their insurance costs.
Regulatory support: Some governments and regulatory bodies have recognized the potential benefits of usage-based car insurance in promoting safer driving and reducing carbon emissions. They have introduced policies and regulations to encourage the adoption of usage-based insurance programs, further fueling market growth.
Geographically, the usage-based car insurance market is growing across regions such as North America, Europe, Asia-Pacific, and the rest of the world. North America, particularly the United States, has witnessed significant adoption of usage-based car insurance programs. Europe is also a key market, with countries like the United Kingdom, Italy, and Germany embracing telematics-based insurance solutions.
The COVID-19 pandemic has had a mixed impact on the global usage-based car insurance market. While the initial lockdown measures and reduced driving activity affected the collection of driving data, the focus on cost savings and personalized insurance solutions is expected to drive the market鈥檚 recovery and growth post-pandemic.
In conclusion, the global usage-based car insurance market is expanding due to its potential cost-saving benefits, technological advancements, evolving customer preferences, and regulatory support. The market offers opportunities for both traditional insurance providers and Insurtech companies to develop innovative solutions that cater to the evolving needs of consumers. As telematics technology continues to advance and consumer awareness increases, the usage-based car insurance market is expected to experience significant growth in the coming years.
This report aims to provide a comprehensive presentation of the global market for Usage-Based Car Insurance, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Usage-Based Car Insurance.
Report Scope
The Usage-Based Car Insurance market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Usage-Based Car Insurance market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Usage-Based Car Insurance companies, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
Allianz SE
Allstate Insurance Company
Assicurazioni Generali
AVIVA PLC
AXA
Desjardins Group
Liberty Mutual Insurance
Mapfre S.A.
Metromile Inc.
Nationwide
Progressive Casualty Insurance Company
State Farm
UnipolSai Assicurazioni S.P.A.
Verizon Communication Inc.
Segment by Type
Pay-As-You-Drive (PAYD)
Pay-How-You-Drive (PHYD)
Segment by Application
Passenger Vehicle
Commercial Vehicle
By Region
North America
United States
Canada
Europe
Germany
France
UK
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of Usage-Based Car Insurance companies鈥� competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.
Please Note - This is an on demand report and will be delivered in 2 business days (48 hours) post payment.
1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Usage-Based Car Insurance Market Size Growth Rate by Type: 2019 VS 2023 VS 2030
1.2.2 Pay-As-You-Drive (PAYD)
1.2.3 Pay-How-You-Drive (PHYD)
1.3 Market by Application
1.3.1 Global Usage-Based Car Insurance Market Growth by Application: 2019 VS 2023 VS 2030
1.3.2 Passenger Vehicle
1.3.3 Commercial Vehicle
1.4 Study Objectives
1.5 Years Considered
1.6 Years Considered
2 Global Growth Trends
2.1 Global Usage-Based Car Insurance Market Perspective (2019-2030)
2.2 Usage-Based Car Insurance Growth Trends by Region
2.2.1 Global Usage-Based Car Insurance Market Size by Region: 2019 VS 2023 VS 2030
2.2.2 Usage-Based Car Insurance Historic Market Size by Region (2019-2024)
2.2.3 Usage-Based Car Insurance Forecasted Market Size by Region (2025-2030)
2.3 Usage-Based Car Insurance Market Dynamics
2.3.1 Usage-Based Car Insurance Industry Trends
2.3.2 Usage-Based Car Insurance Market Drivers
2.3.3 Usage-Based Car Insurance Market Challenges
2.3.4 Usage-Based Car Insurance Market Restraints
3 Competition Landscape by Key Players
3.1 Global Top Usage-Based Car Insurance Players by Revenue
3.1.1 Global Top Usage-Based Car Insurance Players by Revenue (2019-2024)
3.1.2 Global Usage-Based Car Insurance Revenue Market Share by Players (2019-2024)
3.2 Global Usage-Based Car Insurance Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.3 Players Covered: Ranking by Usage-Based Car Insurance Revenue
3.4 Global Usage-Based Car Insurance Market Concentration Ratio
3.4.1 Global Usage-Based Car Insurance Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by Usage-Based Car Insurance Revenue in 2023
3.5 Usage-Based Car Insurance Key Players Head office and Area Served
3.6 Key Players Usage-Based Car Insurance Product Solution and Service
3.7 Date of Enter into Usage-Based Car Insurance Market
3.8 Mergers & Acquisitions, Expansion Plans
4 Usage-Based Car Insurance Breakdown Data by Type
4.1 Global Usage-Based Car Insurance Historic Market Size by Type (2019-2024)
4.2 Global Usage-Based Car Insurance Forecasted Market Size by Type (2025-2030)
5 Usage-Based Car Insurance Breakdown Data by Application
5.1 Global Usage-Based Car Insurance Historic Market Size by Application (2019-2024)
5.2 Global Usage-Based Car Insurance Forecasted Market Size by Application (2025-2030)
6 North America
6.1 North America Usage-Based Car Insurance Market Size (2019-2030)
6.2 North America Usage-Based Car Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
6.3 North America Usage-Based Car Insurance Market Size by Country (2019-2024)
6.4 North America Usage-Based Car Insurance Market Size by Country (2025-2030)
6.5 United States
6.6 Canada
7 Europe
7.1 Europe Usage-Based Car Insurance Market Size (2019-2030)
7.2 Europe Usage-Based Car Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
7.3 Europe Usage-Based Car Insurance Market Size by Country (2019-2024)
7.4 Europe Usage-Based Car Insurance Market Size by Country (2025-2030)
7.5 Germany
7.6 France
7.7 U.K.
7.8 Italy
7.9 Russia
7.10 Nordic Countries
8 Asia-Pacific
8.1 Asia-Pacific Usage-Based Car Insurance Market Size (2019-2030)
8.2 Asia-Pacific Usage-Based Car Insurance Market Growth Rate by Region: 2019 VS 2023 VS 2030
8.3 Asia-Pacific Usage-Based Car Insurance Market Size by Region (2019-2024)
8.4 Asia-Pacific Usage-Based Car Insurance Market Size by Region (2025-2030)
8.5 China
8.6 Japan
8.7 South Korea
8.8 Southeast Asia
8.9 India
8.10 Australia
9 Latin America
9.1 Latin America Usage-Based Car Insurance Market Size (2019-2030)
9.2 Latin America Usage-Based Car Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
9.3 Latin America Usage-Based Car Insurance Market Size by Country (2019-2024)
9.4 Latin America Usage-Based Car Insurance Market Size by Country (2025-2030)
9.5 Mexico
9.6 Brazil
10 Middle East & Africa
10.1 Middle East & Africa Usage-Based Car Insurance Market Size (2019-2030)
10.2 Middle East & Africa Usage-Based Car Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
10.3 Middle East & Africa Usage-Based Car Insurance Market Size by Country (2019-2024)
10.4 Middle East & Africa Usage-Based Car Insurance Market Size by Country (2025-2030)
10.5 Turkey
10.6 Saudi Arabia
10.7 UAE
11 Key Players Profiles
11.1 Allianz SE
11.1.1 Allianz SE Company Detail
11.1.2 Allianz SE Business Overview
11.1.3 Allianz SE Usage-Based Car Insurance Introduction
11.1.4 Allianz SE Revenue in Usage-Based Car Insurance Business (2019-2024)
11.1.5 Allianz SE Recent Development
11.2 Allstate Insurance Company
11.2.1 Allstate Insurance Company Company Detail
11.2.2 Allstate Insurance Company Business Overview
11.2.3 Allstate Insurance Company Usage-Based Car Insurance Introduction
11.2.4 Allstate Insurance Company Revenue in Usage-Based Car Insurance Business (2019-2024)
11.2.5 Allstate Insurance Company Recent Development
11.3 Assicurazioni Generali
11.3.1 Assicurazioni Generali Company Detail
11.3.2 Assicurazioni Generali Business Overview
11.3.3 Assicurazioni Generali Usage-Based Car Insurance Introduction
11.3.4 Assicurazioni Generali Revenue in Usage-Based Car Insurance Business (2019-2024)
11.3.5 Assicurazioni Generali Recent Development
11.4 AVIVA PLC
11.4.1 AVIVA PLC Company Detail
11.4.2 AVIVA PLC Business Overview
11.4.3 AVIVA PLC Usage-Based Car Insurance Introduction
11.4.4 AVIVA PLC Revenue in Usage-Based Car Insurance Business (2019-2024)
11.4.5 AVIVA PLC Recent Development
11.5 AXA
11.5.1 AXA Company Detail
11.5.2 AXA Business Overview
11.5.3 AXA Usage-Based Car Insurance Introduction
11.5.4 AXA Revenue in Usage-Based Car Insurance Business (2019-2024)
11.5.5 AXA Recent Development
11.6 Desjardins Group
11.6.1 Desjardins Group Company Detail
11.6.2 Desjardins Group Business Overview
11.6.3 Desjardins Group Usage-Based Car Insurance Introduction
11.6.4 Desjardins Group Revenue in Usage-Based Car Insurance Business (2019-2024)
11.6.5 Desjardins Group Recent Development
11.7 Liberty Mutual Insurance
11.7.1 Liberty Mutual Insurance Company Detail
11.7.2 Liberty Mutual Insurance Business Overview
11.7.3 Liberty Mutual Insurance Usage-Based Car Insurance Introduction
11.7.4 Liberty Mutual Insurance Revenue in Usage-Based Car Insurance Business (2019-2024)
11.7.5 Liberty Mutual Insurance Recent Development
11.8 Mapfre S.A.
11.8.1 Mapfre S.A. Company Detail
11.8.2 Mapfre S.A. Business Overview
11.8.3 Mapfre S.A. Usage-Based Car Insurance Introduction
11.8.4 Mapfre S.A. Revenue in Usage-Based Car Insurance Business (2019-2024)
11.8.5 Mapfre S.A. Recent Development
11.9 Metromile Inc.
11.9.1 Metromile Inc. Company Detail
11.9.2 Metromile Inc. Business Overview
11.9.3 Metromile Inc. Usage-Based Car Insurance Introduction
11.9.4 Metromile Inc. Revenue in Usage-Based Car Insurance Business (2019-2024)
11.9.5 Metromile Inc. Recent Development
11.10 Nationwide
11.10.1 Nationwide Company Detail
11.10.2 Nationwide Business Overview
11.10.3 Nationwide Usage-Based Car Insurance Introduction
11.10.4 Nationwide Revenue in Usage-Based Car Insurance Business (2019-2024)
11.10.5 Nationwide Recent Development
11.11 Progressive Casualty Insurance Company
11.11.1 Progressive Casualty Insurance Company Company Detail
11.11.2 Progressive Casualty Insurance Company Business Overview
11.11.3 Progressive Casualty Insurance Company Usage-Based Car Insurance Introduction
11.11.4 Progressive Casualty Insurance Company Revenue in Usage-Based Car Insurance Business (2019-2024)
11.11.5 Progressive Casualty Insurance Company Recent Development
11.12 State Farm
11.12.1 State Farm Company Detail
11.12.2 State Farm Business Overview
11.12.3 State Farm Usage-Based Car Insurance Introduction
11.12.4 State Farm Revenue in Usage-Based Car Insurance Business (2019-2024)
11.12.5 State Farm Recent Development
11.13 UnipolSai Assicurazioni S.P.A.
11.13.1 UnipolSai Assicurazioni S.P.A. Company Detail
11.13.2 UnipolSai Assicurazioni S.P.A. Business Overview
11.13.3 UnipolSai Assicurazioni S.P.A. Usage-Based Car Insurance Introduction
11.13.4 UnipolSai Assicurazioni S.P.A. Revenue in Usage-Based Car Insurance Business (2019-2024)
11.13.5 UnipolSai Assicurazioni S.P.A. Recent Development
11.14 Verizon Communication Inc.
11.14.1 Verizon Communication Inc. Company Detail
11.14.2 Verizon Communication Inc. Business Overview
11.14.3 Verizon Communication Inc. Usage-Based Car Insurance Introduction
11.14.4 Verizon Communication Inc. Revenue in Usage-Based Car Insurance Business (2019-2024)
11.14.5 Verizon Communication Inc. Recent Development
12 Analyst's Viewpoints/Conclusions
13 Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.2 Data Source
13.2 Disclaimer
13.3 Author Details
Allianz SE
Allstate Insurance Company
Assicurazioni Generali
AVIVA PLC
AXA
Desjardins Group
Liberty Mutual Insurance
Mapfre S.A.
Metromile Inc.
Nationwide
Progressive Casualty Insurance Company
State Farm
UnipolSai Assicurazioni S.P.A.
Verizon Communication Inc.
听
听
*If Applicable.
