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The automotive usage-based insurance market size is expected to grow by USD 67.51 billion at a CAGR of 25.1% from 2023 to 2028. Market growth is driven by flexible pricing models offering personalized coverage, government regulations mandating motor vehicle insurance, and advancements in telematics and data analytics. These factors enable innovative UBI programs and foster an environment of innovation and advancement. Trends indicate a shift towards smartphone-based UBI and mobility-as-a-service, revolutionizing traditional insurance models. However, challenges such as data security issues and fraudulent claims persist, requiring continuous advancements in telematics and state regulations to ensure the integrity of the automotive insurance ecosystem. As insurers and OEMs develop new solutions, the industry adapts to evolving consumer needs and embraces technological advancements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Pricing Scheme
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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