Europe Usage-Based Insurance Market – Industry Trends and Forecast to 2027

  • Automotive
  • Upcoming Report
  • Nov 2020
  • Europe
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Europe Usage-Based Insurance Market, By Package Type (Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD)), Technology (OBD-II, Smartphone, Black Box, Embedded and Other Technologies), Vehicle Type (Light-Duty Vehicle (LDV) and Heavy-Duty Vehicle (HDV)), Vehicle Age (New Vehicle and On-Road Vehicle), Device Offering (Bring Your Own Device (BYOD) and Company Provided), Electric and Hybrid Vehicle (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV) and Plug-in Hybrid Vehicle (PHEV)), Country (Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe) Industry Trends and Forecast to 2027

Europe Usage-based Insurance Market Market Analysis and Insights : Europe Usage-Based Insurance Market

The usage-based insurance market is expected to reach USD 48.68 billion by 2027 witnessing market growth at a rate of 22.5% in the forecast period of 2020 to 2027. Data Bridge Market Research report on usage-based insurance market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.

Insurance is a form of risk management which offers protection from financial loss. Usage based insurance is a type of insurance where the premium is directly linked depending on the usage of the product. This type of insurance is also known as telematics insurance and it is very convenient since the premium can be customised as well as the device attached to it provides driving assistance. This premium depends on the driving habits and behaviour of the insurer and their probability of raising a claim. Insurance regulatory bodies around the world are in favour of implementing this kind of insurance.

Cheap insurance premium as compared to regular insurance premiums, strict government regulations on telematics, growing adoption of connected automobile services and increasing number of on-road vehicles are the factors driving the growth of Europe usage-based insurance market. High installation cost of telematics and unwillingness of insurers to adopt this solution are the factors restraining the growth of Europe usage-based insurance market.

Increasing partnerships among market players and advancements in smartphones technologies are the opportunities for Europe usage-based insurance market. Growing privacy concerns and increasing cost of claims are the challenges for Europe usage-based insurance market.

This usage-based insurance market provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on usage-based insurance market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Usage-Based Insurance market Scope and Market Size

The usage-based insurance market is segmented on the basis of package type, technology, vehicle type, vehicle age, device offering and electric and hybrid vehicle. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

  • On the basis of package type, the usage-based insurance market has been segmented as pay-as-you-drive (PAYD) pay-how-you-drive (PHYD) and manage-how-you-drive (MHYD).
  • On the basis of technology, the usage-based insurance market has been segmented as OBD-II, smartphone, black box, embedded and other technologies.
  • On the basis of vehicle type, the usage-based insurance market has been segmented as light-duty vehicle (LDV) and heavy-duty vehicle (HDV).
  • On the basis of vehicle age, the usage-based insurance market has been segmented as new vehicle and on-road vehicle.
  • On the basis of device offering, the usage-based insurance market has been segmented as bring your own device (BYOD) and company provided.
  • Usage-based insurance market has also been segmented on the basis of electric and hybrid vehicle into battery electric vehicle (BEV), hybrid electric vehicle (HEV) and plug-in hybrid vehicle (PHEV).

Europe Usage-Based Insurance market Country Level Analysis

Europe usage-based insurance market is analysed and market size, volume information is provided by country, package type, technology, vehicle type, vehicle age, device offering and electric and hybrid vehicle as referenced above.

The countries covered in the Europe usage-based insurance market report are Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia and rest of Europe.

Italy will dominate the growth in Europe usage-based insurance market due to the growing awareness of this type of insurance. Further, technological advancements and introduction of various infotainment software and hardware allows the insurance companies to calculate a premium as per the driving habits of customers is propelling the growth in the country.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Usage-Based Insurance Market Share Analysis

Usage-based insurance market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to usage-based insurance market.

The major players covered in the Europe usage-based insurance market report are Allianz SE, AXA S.A., Insure The Box Ltd, Progressive Corporation, Allstate Corporation, Desjardins Insurance, Generali Group, Mapfre S.A., Metromile, Aviva plc., Admiral Group Plc., Ageas S.A./NV, AI Insurance Holdings Pty Ltd., Aioi Nissay Dowa Insurance (ADI), Allstate Corporation and Box Innovation Group Ltd among other domestic players. Market share data is available for Europe separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

In June 2020, Tata AIG has introduced its new usage-based motor insurance with a telematics based app along with a device, AutoSafe. This has been made available on all policies which offer 15 lakh on personal accident covers for both the owner and driver. It also offers bonus kilometres during renewal subject to good driving behaviour. This telematics device is directly linked to the policyholder’s vehicle which activates its motor policy insurance. The AutoSafe device has integrated GPS which is linked to a mobile app so that it can record all information including distance travelled, health of the vehicle, driving behaviour and patterns of the policy holder and many other indicators. This information collected is evaluated based on which the driver has allocated points. Apart from this, it also contains motion sensor which helps them to save premium.

Customization Available : Europe Usage-Based Insurance Market

Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.


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LIST OF TABLES EUROPE USAGE-BASED INSURANCE MARKET

TABLE 1 EUROPE USAGE-BASED INSURANCE MARKET, BY PACKAGE TYPE, 2017-2026 (USD MILLION)

TABLE 2 EUROPE PAY-AS-YOU-DRIVE (PAYD) USAGE-BASED INSURANCE MARKET, BY REGION, 2017-2026, (USD MILLION)

TABLE 3 EUROPE PAY-HOW-YOU-DRIVE (PHYD) USAGE-BASED INSURANCE MARKET, BY REGION, 2017-2026, (USD MILLION)

TABLE 4 EUROPE MANAGE-HOW-YOU-DRIVE (MHYD) USAGE-BASED INSURANCE MARKET, BY REGION, 2017-2026, (USD MILLION)

TABLE 5 EUROPE USAGE-BASED INSURANCE MARKET, BY VEHICLE TYPE, 2017-2026 (USD MILLION)

TABLE 6 EUROPE LIGHT-DUTY VEHICLE (LDV) USAGE-BASED INSURANCE MARKET, BY REGION, 2017-2026, (USD MILLION)

TABLE 7 EUROPE HIGH-DUTY VEHICLE (HDV) USAGE-BASED INSURANCE MARKET, BY REGION, 2017-2026, (USD MILLION)

TABLE 8 EUROPE USAGE-BASED INSURANCE MARKET, BY DEVICE OFFERING, 2017-2026, (USD MILLION)

TABLE 9 EUROPE BRING YOUR OWN DEVICE (BYOD) USAGE-BASED INSURANCE MARKET, BY REGION, 2017-2026, (USD MILLION)

TABLE 10 EUROPE COMPANY PROVIDED USAGE-BASED INSURANCE MARKET, BY REGION, 2017-2026, (USD MILLION)

TABLE 11 EUROPE USAGE-BASED INSURANCE MARKET, BY TECHNOLOGY, 2017-2026, (USD MILLION)

TABLE 12 EUROPE EMBEDDED SYSTEM USAGE-BASED INSURANCE MARKET, BY REGION, 2017-2026, (USD MILLION)

TABLE 13 EUROPE SMARTPHONE USAGE-BASED INSURANCE MARKET, BY REGION, 2017-2026, (USD MILLION)

TABLE 14 EUROPE BLACK BOX USAGE-BASED INSURANCE MARKET, BY REGION, 2017-2026, (USD MILLION)

TABLE 15 EUROPE OBD-II USAGE-BASED INSURANCE MARKET, BY REGION, 2017-2026, (USD MILLION)

TABLE 16 EUROPE OTHERS USAGE-BASED INSURANCE MARKET, BY REGION, 2017-2026, (USD MILLION)

TABLE 17 EUROPE USAGE-BASED INSURANCE MARKET, BY VEHICLE AGE, 2017-2026, (USD MILLION)

TABLE 18 EUROPE ON-ROAD VEHICLES USAGE-BASED INSURANCE MARKET, BY REGION, 2017-2026, (USD MILLION)

TABLE 19 EUROPE NEW VEHICLES USAGE-BASED INSURANCE MARKET, BY REGION, 2017-2026, (USD MILLION)

TABLE 20 EUROPE USAGE-BASED INSURANCE MARKET, BY ELECTRIC AND HYBRID VEHICLE, 2017-2026, (USD MILLION)

TABLE 21 EUROPE BATTERY ELECTRIC VEHICLE (BEV) USAGE-BASED INSURANCE MARKET, BY REGION, 2017-2026, (USD MILLION)

TABLE 22 EUROPE PLUG-IN HYBRID VEHICLE (PHEV) USAGE-BASED INSURANCE MARKET, BY REGION, 2017-2026, (USD MILLION)

TABLE 23 EUROPE HYBRID ELECTRIC VEHICLE (HEV) USAGE-BASED INSURANCE MARKET, BY REGION, 2017-2026, (USD MILLION)

TABLE 24 EUROPE USAGE-BASED INSURANCE MARKET, BY COUNTRY, 2017-2026 (USD MILLION)

TABLE 25 EUROPE USAGE-BASED INSURANCE MARKET, BY PACKAGE TYPE, 2017-2026, (USD MILLION)

TABLE 26 EUROPE USAGE-BASED INSURANCE MARKET, BY VEHICLE TYPE, 2017-2026, (USD MILLION)

TABLE 27 EUROPE USAGE-BASED INSURANCE MARKET , BY DEVICE OFFERING , 2017-2026, (USD MILLION)

TABLE 28 EUROPE USAGE-BASED INSURANCE MARKET, BY TECHNOLOGY, 2017-2026, (USD MILLION)

TABLE 29 EUROPE USAGE-BASED INSURANCE MARKET, BY VEHICLE AGE, 2017-2026, (USD MILLION)

TABLE 30 EUROPE USAGE-BASED INSURANCE MARKET, BY ELECTRIC AND HYBRID VEHICLE, 2017-2026, (USD MILLION)

TABLE 31 U.K. USAGE-BASED INSURANCE MARKET, BY PACKAGE TYPE, 2017-2026, (USD MILLION)

TABLE 32 U.K. USAGE-BASED INSURANCE MARKET, BY VEHICLE TYPE, 2017-2026, (USD MILLION)

TABLE 33 U.K. USAGE-BASED INSURANCE MARKET , BY DEVICE OFFERING , 2017-2026, (USD MILLION)

TABLE 34 U.K. USAGE-BASED INSURANCE MARKET, BY TECHNOLOGY, 2017-2026, (USD MILLION)

TABLE 35 U.K. USAGE-BASED INSURANCE MARKET, BY VEHICLE AGE, 2017-2026, (USD MILLION)

TABLE 36 U.K. USAGE-BASED INSURANCE MARKET, BY ELECTRIC AND HYBRID VEHICLE, 2017-2026, (USD MILLION)

TABLE 37 GERMANY USAGE-BASED INSURANCE MARKET, BY PACKAGE TYPE, 2017-2026, (USD MILLION)

TABLE 38 GERMANY USAGE-BASED INSURANCE MARKET, BY VEHICLE TYPE, 2017-2026, (USD MILLION)

TABLE 39 GERMANY USAGE-BASED INSURANCE MARKET , BY DEVICE OFFERING , 2017-2026, (USD MILLION)

TABLE 40 GERMANY USAGE-BASED INSURANCE MARKET, BY TECHNOLOGY, 2017-2026, (USD MILLION)

TABLE 41 GERMANY USAGE-BASED INSURANCE MARKET, BY VEHICLE AGE, 2017-2026, (USD MILLION)

TABLE 42 GERMANY USAGE-BASED INSURANCE MARKET, BY ELECTRIC AND HYBRID VEHICLE, 2017-2026, (USD MILLION)

TABLE 43 FRANCE USAGE-BASED INSURANCE MARKET, BY PACKAGE TYPE, 2017-2026, (USD MILLION)

TABLE 44 FRANCE USAGE-BASED INSURANCE MARKET, BY VEHICLE TYPE, 2017-2026, (USD MILLION)

TABLE 45 FRANCE USAGE-BASED INSURANCE MARKET , BY DEVICE OFFERING , 2017-2026, (USD MILLION)

TABLE 46 FRANCE USAGE-BASED INSURANCE MARKET, BY TECHNOLOGY, 2017-2026, (USD MILLION)

TABLE 47 FRANCE USAGE-BASED INSURANCE MARKET, BY VEHICLE AGE, 2017-2026, (USD MILLION)

TABLE 48 FRANCE USAGE-BASED INSURANCE MARKET, BY ELECTRIC AND HYBRID VEHICLE, 2017-2026, (USD MILLION)

TABLE 49 ITALY USAGE-BASED INSURANCE MARKET, BY PACKAGE TYPE, 2017-2026, (USD MILLION)

TABLE 50 ITALY USAGE-BASED INSURANCE MARKET, BY VEHICLE TYPE, 2017-2026, (USD MILLION)

TABLE 51 ITALY USAGE-BASED INSURANCE MARKET , BY DEVICE OFFERING , 2017-2026, (USD MILLION)

TABLE 52 ITALY USAGE-BASED INSURANCE MARKET, BY TECHNOLOGY, 2017-2026, (USD MILLION)

TABLE 53 ITALY USAGE-BASED INSURANCE MARKET, BY VEHICLE AGE, 2017-2026, (USD MILLION)

TABLE 54 ITALY USAGE-BASED INSURANCE MARKET, BY ELECTRIC AND HYBRID VEHICLE, 2017-2026, (USD MILLION)

TABLE 55 SPAIN USAGE-BASED INSURANCE MARKET, BY PACKAGE TYPE, 2017-2026, (USD MILLION)

TABLE 56 SPAIN USAGE-BASED INSURANCE MARKET, BY VEHICLE TYPE, 2017-2026, (USD MILLION)

TABLE 57 SPAIN USAGE-BASED INSURANCE MARKET , BY DEVICE OFFERING , 2017-2026, (USD MILLION)

TABLE 58 SPAIN IN USAGE-BASED INSURANCE MARKET, BY TECHNOLOGY, 2017-2026, (USD MILLION)

TABLE 59 SPAIN USAGE-BASED INSURANCE MARKET, BY VEHICLE AGE, 2017-2026, (USD MILLION)

TABLE 60 SPAIN USAGE-BASED INSURANCE MARKET, BY ELECTRIC AND HYBRID VEHICLE, 2017-2026, (USD MILLION)

TABLE 61 TURKEY USAGE-BASED INSURANCE MARKET, BY PACKAGE TYPE, 2017-2026, (USD MILLION)

TABLE 62 TURKEY USAGE-BASED INSURANCE MARKET, BY VEHICLE TYPE, 2017-2026, (USD MILLION)

TABLE 63 TURKEY USAGE-BASED INSURANCE MARKET , BY DEVICE OFFERING , 2017-2026, (USD MILLION)

TABLE 64 TURKEY USAGE-BASED INSURANCE MARKET, BY TECHNOLOGY, 2017-2026, (USD MILLION)

TABLE 65 TURKEY USAGE-BASED INSURANCE MARKET, BY VEHICLE AGE, 2017-2026, (USD MILLION)

TABLE 66 TURKEY USAGE-BASED INSURANCE MARKET, BY ELECTRIC HYBRID VEHICLE, 2017-2026, (USD MILLION)

TABLE 67 RUSSIA USAGE-BASED INSURANCE MARKET, BY PACKAGE TYPE, 2017-2026, (USD MILLION)

TABLE 68 RUSSIA USAGE-BASED INSURANCE MARKET, BY VEHICLE TYPE, 2017-2026, (USD MILLION)

TABLE 69 RUSSIA USAGE-BASED INSURANCE MARKET , BY DEVICE OFFERING , 2017-2026, (USD MILLION)

TABLE 70 RUSSIA USAGE-BASED INSURANCE MARKET, BY TECHNOLOGY, 2017-2026, (USD MILLION)

TABLE 71 RUSSIA USAGE-BASED INSURANCE MARKET, BY VEHICLE AGE, 2017-2026, (USD MILLION)

TABLE 72 RUSSIA USAGE-BASED INSURANCE MARKET, BY ELECTRIC HYBRID VEHICLE, 2017-2026, (USD MILLION)

TABLE 73 BELGIUM USAGE-BASED INSURANCE MARKET, BY PACKAGE TYPE, 2017-2026, (USD MILLION)

TABLE 74 BELGIUM USAGE-BASED INSURANCE MARKET, BY VEHICLE TYPE, 2017-2026, (USD MILLION)

TABLE 75 BELGIUM USAGE-BASED INSURANCE MARKET , BY DEVICE OFFERING , 2017-2026, (USD MILLION)

TABLE 76 BELGIUM USAGE-BASED INSURANCE MARKET, BY TECHNOLOGY, 2017-2026, (USD MILLION)

TABLE 77 BELGIUM USAGE-BASED INSURANCE MARKET, BY VEHICLE AGE, 2017-2026, (USD MILLION)

TABLE 78 BELGIUM USAGE-BASED INSURANCE MARKET, BY ELECTRIC HYBRID VEHICLE, 2017-2026, (USD MILLION)

TABLE 79 NETHERLANDS USAGE-BASED INSURANCE MARKET, BY PACKAGE TYPE, 2017-2026, (USD MILLION)

TABLE 80 THE NETHERLANDS USAGE-BASED INSURANCE MARKET, BY VEHICLE TYPE, 2017-2026, (USD MILLION)

TABLE 81 THE NETHERLANDS USAGE-BASED INSURANCE MARKET , BY DEVICE OFFERING , 2017-2026, (USD MILLION)

TABLE 82 THE NETHERLANDS USAGE-BASED INSURANCE MARKET, BY TECHNOLOGY, 2017-2026, (USD MILLION)

TABLE 83 THE NETHERLANDS USAGE-BASED INSURANCE MARKET, BY VEHICLE AGE, 2017-2026, (USD MILLION)

TABLE 84 THE NETHERLANDS USAGE-BASED INSURANCE MARKET, BY ELECTRIC AND HYBRID VEHICLE, 2017-2026, (USD MILLION)

TABLE 85 SWITZERLAND USAGE-BASED INSURANCE MARKET, BY PACKAGE TYPE, 2017-2026, (USD MILLION)

TABLE 86 SWITZERLAND USAGE-BASED INSURANCE MARKET, BY VEHICLE TYPE, 2017-2026, (USD MILLION)

TABLE 87 SWITZERLAND USAGE-BASED INSURANCE MARKET , BY DEVICE OFFERING , 2017-2026, (USD MILLION)

TABLE 88 SWITZERLAND USAGE-BASED INSURANCE MARKET, BY TECHNOLOGY, 2017-2026, (USD MILLION)

TABLE 89 SWITZERLAND USAGE-BASED INSURANCE MARKET, BY VEHICLE AGE, 2017-2026, (USD MILLION)

TABLE 90 SWITZERLAND USAGE-BASED INSURANCE MARKET, BY ELECTRIC AND HYBRID VEHICLE, 2017-2026, (USD MILLION)

TABLE 91 REST OF EUROPE USAGE-BASED INSURANCE MARKET, BY PACKAGE TYPE, 2017-2026, (USD MILLION)

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