글로벌 사용 기반 보험 시장 - 업계 동향 및 2031년까지의 예측

사용 기반 보험 시장 분석 및 규모

차량 관리(Fleet management)는 사용 기반 보험(UBI) 시장의 역량을 활용하여 차량 내 차량의 운전 행동을 모니터링하고 분석합니다. 통합 UBI 기술을 통해 차량 관리자는 주행 거리, 속도, 제동 패턴, 차량 사용 등의 요소를 실시간으로 추적할 수 있습니다. 이 데이터를 통해 경로 최적화, 연비 개선, 위험한 운전 행동을 식별하고 해결하여 전반적인 안전 강화가 가능합니다.

글로벌 사용 기반 보험 시장 규모는 2023년에 314억 5천만 달러로 평가되었으며, 2031년까지 2,083억 2천만 달러에 도달할 것으로 예상되며, 2024년에서 2031년까지의 예측 기간 동안 CAGR은 26.66%입니다. Data Bridge Market Research 팀이 큐레이팅한 시장 보고서에는 시장 가치, 성장률, 시장 세그먼트, 지리적 범위, 시장 참여자, 시장 시나리오와 같은 시장 통찰력 외에도 심층적인 전문가 분석, 수입/수출 분석, 가격 분석, 생산 소비 분석, 페슬 분석이 포함되어 있습니다.

보고 범위 및 시장 세분화

시장 정의

사용 기반 보험(UBI)은 연령이나 위치와 같은 기존 요인이 아닌 개인의 운전 행동에 따라 보험료가 결정되는 자동차 보험 유형입니다. 일반적으로 텔레매틱스 장치나 스마트폰 앱을 사용하여 주행 거리, 속도, 제동 패턴, 운전 시간과 같은 데이터를 추적합니다. 보험사는 이 데이터를 분석하여 위험 수준을 평가하고 그에 따라 보험료를 조정하여 안전한 운전 습관에 대한 잠재적 할인을 제공합니다. UBI는 운전자에게 책임감 있는 행동에 대한 인센티브와 보상을 제공하는 동시에 보다 개인화되고 잠재적으로 비용 효율적인 보험 적용 범위를 제공하는 것을 목표로 합니다.

사용 기반 보험 시장 동향

운전자

• 텔레매틱스 기술의 발전으로 보다 포괄적인 모니터링이 가능해졌습니다.

텔레매틱스 기술 발전에는 정교한 센서, GPS 추적, 가속도계, 차량 진단이 포함되며, 이를 통해 속도, 주행 거리, 제동 패턴, 주행 시간과 같은 요소에 대한 자세한 통찰력을 제공합니다. 이러한 세부적인 데이터를 통해 보험사는 위험 프로필을 정확하게 평가하고 이에 따라 보험료를 조정하여 개인화된 보험 상품으로 전환할 수 있습니다. 또한 텔레매틱스의 발전으로 UBI 프로그램을 차량, 스마트폰 및 기타 장치에 원활하게 통합하여 보험사와 보험 계약자 모두에게 접근성과 사용성을 향상할 수 있습니다.

• 개인화에 대한 소비자 수요 증가로 UBI 모델 수요 증가

현대 소비자들은 모든 사람에게 맞는 접근 방식보다는 자신의 특정 요구 사항과 행동에 맞는 보험 솔루션을 점점 더 많이 찾고 있습니다. UBI는 텔레매틱스 기술을 통해 수집된 주행 거리, 속도, 제동 패턴과 같은 개별 운전 습관에 따라 개인화된 보험료를 제공하여 이러한 수요를 충족합니다. 이러한 수준의 맞춤화를 통해 소비자는 더 큰 통제력을 갖고 더 안전한 운전 관행을 장려하여 보험료를 잠재적으로 낮출 수 있습니다. 결과적으로 보험사는 소비자의 변화하는 선호도를 충족하고 시장에서 경쟁력을 유지하기 위해 UBI 모델을 채택하도록 동기를 부여받습니다.

기회

• 규제 이니셔티브 확대로 UBI 모델 채택 증가

Government mandates promoting safer driving practices often include incentives such as discounts or reduced premiums for drivers who participate in UBI programs. Regulatory bodies may encourage insurers to offer UBI options through policies aimed at reducing road accidents and improving overall traffic safety. These initiatives incentivize insurers to invest in UBI technology and motivate consumers to embrace usage-based insurance promoting responsible driving behavior. As a result, regulatory support plays a pivotal role in fostering the growth and expansion of the UBI market.

• Rising Competitive Pressure Fosters Continuous Improvement in UBI Technology

As competitors introduce UBI programs, insurers are motivated to follow suit to remain competitive. This pressure fosters continuous improvement in UBI technology and service offerings, leading to advancements in data analytics, telematics, and customer engagement strategies. Insurers strive to attract and retain customers by offering more personalized and cost-effective insurance options through UBI, driving market growth. Competition encourages insurers to optimize their UBI programs, refining pricing models and incentive structures to better align with customer needs and preferences.

Restraints/Challenges

• Increased Privacy Concerns among the UBI Technology Consumers

Increased privacy concerns among consumers regarding UBI technology present a significant restraint in the usage-based insurance (UBI) market. As UBI relies on collecting and analyzing personal driving data, consumers may express apprehension about potential privacy breaches or unauthorized access to their information. This concern can deter individuals from participating in UBI programs, leading to slower adoption rates and limiting the market potential for insurers.

• Disparities in Technological Literacy Limits the Adoption of UBI Technology

Some drivers lack access to the necessary technology, such as telematics devices or smartphones with compatible apps, to participate in UBI programs. This digital divide hampers market penetration and excludes certain demographic segments from accessing potential cost-saving benefits. Disparities in technological literacy and access exacerbate the challenge, further hindering the UBI market's ability to reach its full potential and offer personalized insurance solutions to a broader audience.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized 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 the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In 2021, The Progressive Corporation entered into a definitive agreement to acquire all outstanding shares of Protective Insurance Corporation, a move intended to expand Progressive's market presence and offerings
• In 2020, Progressive Corporation launched Snapshot ProView, an optional usage-based insurance (UBI) and fleet management program tailored for small business owners. This initiative became integrated into Smart Haul, Progressive's UBI program for truckers, utilizing Electronic Logging Device (ELD) data to incentivize safe driving practices
• In 2020, Lyft collaborated with Liberty Mutual Insurance to provide insurance coverage to drivers using its ride-sharing platforms across Arizona, Michigan, New Mexico, Texas, and Utah. This program ensures specific insurance protections for drivers from the moment they activate their Lyft app until they finish their rides

Usage-Based Insurance Market Scope

The market is segmented on the basis of vehicle type, package type, device offering, technology, vehicle age, and electric and hybrid vehicle type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Vehicle Type

• Passenger Car
• Light-Duty Vehicle (LDV)
• Commercial Vehicle
• Heavy-Duty Vehicle (HDV)

Package Type

• Pay-As-You-Drive (PAYD)
• Pay-How-You-Drive (PHYD)
• Manage-How-You-Drive (MHYD)

Device Offering

• Company Provided
• Bring Your Own Device (BYOD)

Technology

• OBD-II
• Smartphone
• Embedded System
• Black Box
• Others
• Hybrid
• Metal Forming Market for Automotive

Vehicle Age

• New Vehicles
• On-Road Vehicles
• Old Vehicle

Electric and Hybrid Vehicle Type

• Hybrid Electric Vehicle (HEV)
• Plug-In Hybrid Vehicle (PHEV)
• Battery Electric Vehicle (BEV)

Usage-Based Insurance Market Analysis/Insights

The market is analysed and market size insights and trends are provided by country, vehicle type, package type, device offering, technology, vehicle age, and electric and hybrid vehicle type as referenced above.

The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

The Asia-Pacific dominates in the market owing to several factors. Heightened consumer awareness drives demand for personalized insurance solutions and the booming automobile industry fuels UBI adoption, aligning with the region's economic growth. Additionally, a shift towards remote diagnostic technology enhances UBI feasibility and efficiency. The proliferation of connected cars facilitates the integration of innovative UBI models, catalyzing further market expansion in the region.

North America is expected to grow in the market, primarily driven by its advanced telematics infrastructure, widespread smartphone adoption, and the active engagement of leading insurance companies in offering UBI services. These factors create an environment conducive to the growth of UBI, enabling insurers to leverage data from connected devices to offer personalized premiums based on driving behavior. With these advantages, North America is expected to maintain its dominance in UBI implementation and adoption.

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 such as 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 global 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

The 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, global presence, production sites and facilities, production capacities, 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 market.

Some of the major players operating in the market are:

• Cambridge Mobile Telematics (U.S.)
• insurethebox  (U.K.)
• Progressive Casualty Insurance Company (U.S.)
• Modus Group, LLC.(U.S.)
• Inseego Corp. (미국)
• 레모네이드 주식회사 메트로마일(미국)
• 더 플로우 리미티드(영국)
• 올스테이트 보험 회사(미국)
• Octo Group SpA(이탈리아)
• TomTom International BV. (네덜란드)
• UNIPOLSAI ASSICURAZIONI SPA (이탈리아)
• 리버티 뮤추얼 보험(미국)
• Equitable Holdings, Inc.(이탈리아)
• MAPFRE(스페인)
• Sierra Wireless(캐나다)
• 베라이즌(미국)
• 알리안츠 파트너스(독일)

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