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Home > Reports > Service & Software > Global Usage-Based Vehicle Insurance Market Insights, Forecast to 2031

Global Usage-Based Vehicle Insurance Market Insights, Forecast to 2031

Industry: Service & Software

Published: 2025-04-24

Pages: 131 Pages

Report ld: 4717119

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Description
Table of Contents
Table of Figures
Related Reports
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Description
Table of Contents
Table of Figures
Related Reports
PDF Download

Description

The global Usage-Based Vehicle Insurance market is projected to grow from US$ 62050 million in 2025 to US$ 183890 million by 2031, at a Compound Annual Growth Rate (CAGR) of 19.9% during the forecast period.

Usage-Based Vehicle Insurance (UBI) is a type of auto insurance that calculates premiums based on actual driving behavior and vehicle usage. By utilizing telematics devices such as OBD dongles, T-box units, or mobile apps, it collects real-time data like mileage, driving time, harsh braking, rapid acceleration, and speeding. The insurer uses this data to assess driving risk and adjust premiums accordingly, enabling personalized pricing models like “the safer you drive, the less you pay.”

Usage-Based Vehicle Insurance Market Size(US$)

M= millions and B=billions

The US & Canada market for Usage-Based Vehicle Insurance is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.

The China market for Usage-Based Vehicle Insurance is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.

The Europe market for Usage-Based Vehicle Insurance is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.

The global key manufacturers of Usage-Based Vehicle Insurance include Progressive, Allstate Corporation, Octo Telematics, Lemonade, Allianz SE, AXA SA, Liberty Mutual, State Farm, Modus Group, Travellers, etc. In 2024, the global top five players had a share approximately % in terms of revenue.

In terms of production side, this report researches the Usage-Based Vehicle Insurance production, growth rate, market share by manufacturers and by region (region level and country level), from 2020 to 2025, and forecast to 2031.

In terms of consumption side, this report focuses on the sales of Usage-Based Vehicle Insurance by region (region level and country level), by company, by Type and by Application. from 2020 to 2025 and forecast to 2031.

This report presents an overview of global market for Usage-Based Vehicle Insurance, capacity, output, revenue and price. Analyses of the global market trends, with historic market revenue/sales data for 2020 - 2025, estimates for 2025, and projections of CAGR through 2031.

This report researches the key producers of Usage-Based Vehicle Insurance, also provides the consumption of main regions and countries. of the upcoming market potential for Usage-Based Vehicle Insurance, and key regions/countries of focus to forecast this market into various segments and sub-segments. Country specific data and market value analysis for the U.S., Canada, Mexico, Brazil, China, Japan, South Korea, Southeast Asia, India, Germany, the U.K., Italy, Middle East, Africa, and Other Countries.

This report focuses on the Usage-Based Vehicle Insurance sales, revenue, market share and industry ranking of main manufacturers, data from 2020 to 2025. Identification of the major stakeholders in the global Usage-Based Vehicle Insurance market, and analysis of their competitive landscape and market positioning based on recent developments and segmental revenues. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.
This report analyzes the segments data by Type and by Application, sales, revenue, and price, from 2020 to 2031. Evaluation and forecast the market size for Usage-Based Vehicle Insurance sales, projected growth trends, production technology, application and end-user industry.

Descriptive company profiles of the major global players, including Progressive, Allstate Corporation, Octo Telematics, Lemonade, Allianz SE, AXA SA, Liberty Mutual, State Farm, Modus Group, Travellers, etc.

Market Segmentation

Report Metric
Details
Report Title
Global Usage-Based Vehicle Insurance Market Insights, Forecast to 2031
Forecasted Market Size in 2031
US$ 183890 million
CAGR(2025-2031)
19.9%
Market Size Available for Years
2025-2031
Global Usage-Based Vehicle Insurance Companies Covered
Progressive
Allstate Corporation
Octo Telematics
Lemonade
Allianz SE
AXA SA
Liberty Mutual
State Farm
Modus Group
Travellers
Cambridge Mobile Telematics
Global Usage-Based Vehicle Insurance Market, by Region
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Usage-Based Vehicle Insurance Market, Segment by Type
Mileage-based
Driving-based
Global Usage-Based Vehicle Insurance Market, Segment by Application
Passenger Cars
Commercial Vehicles
Forecast Units
Million USD
Report Coverage
Revenue and volume forecast, company share, competitive landscape, growth factors and trends

Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type and 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: Usage-Based Vehicle Insurance production/output of global and key producers (regions/countries). It provides a quantitative analysis of the production, and development potential of each producer in the next six years.
Chapter 3: Sales (consumption), revenue of Usage-Based Vehicle Insurance in global, regional level and country level. 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 of each country in the world.
Chapter 4: Detailed analysis of Usage-Based Vehicle Insurance manufacturers competitive landscape, price, sales, revenue, market share and industry ranking, latest development plan, merger, and acquisition information, etc.
Chapter 5: Provides the analysis of various market segments by Type, covering the sales, revenue, average price, and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 6: Provides the analysis of various market segments by Application, covering the sales, revenue, average price, and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 7: North America (US & Canada) by Type, by Application and by country, sales, and revenue for each segment.
Chapter 8: Europe by Type, by Application and by country, sales, and revenue for each segment.
Chapter 9: China by Type, and by Application, sales, and revenue for each segment.
Chapter 10: Asia (excluding China) by Type, by Application and by region, sales, and revenue for each segment.
Chapter 11: Middle East, Africa, Latin America by Type, by Application and by country, sales, and revenue for each segment.
Chapter 12: Provides profiles of key manufacturers, introducing the basic situation of the main companies in the market in detail, including product descriptions and specifications, Usage-Based Vehicle Insurance sales, revenue, price, gross margin, and recent development, etc.
Chapter 13: Analysis of industrial chain, sales channel, key raw materials, distributors and customers.
Chapter 14: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 15: The main points and conclusions of the report.

Table of Contents

1 Report Overview
    1.1 Study Scope
    1.2 Market Analysis by Type
        1.2.1 Global Usage-Based Vehicle Insurance Market Size Growth Rate by Type: 2020 VS 2024 VS 2031
        1.2.2 Mileage-based
        1.2.3 Driving-based
    1.3 Market by Application
        1.3.1 Global Usage-Based Vehicle Insurance Market Share by Application: 2020 VS 2024 VS 2031
        1.3.2 Passenger Cars
        1.3.3 Commercial Vehicles
    1.4 Assumptions and Limitations
    1.5 Study Objectives
    1.6 Years Considered

2 Global Growth Trends
    2.1 Global Usage-Based Vehicle Insurance Market Perspective (2020-2031)
    2.2 Global Usage-Based Vehicle Insurance Growth Trends by Region
        2.2.1 Global Usage-Based Vehicle Insurance Market Size by Region: 2020 VS 2024 VS 2031
        2.2.2 Usage-Based Vehicle Insurance Market Size by Region (2020-2031)
    2.3 Usage-Based Vehicle Insurance Market Dynamics
        2.3.1 Usage-Based Vehicle Insurance Industry Trends
        2.3.2 Usage-Based Vehicle Insurance Market Drivers
        2.3.3 Usage-Based Vehicle Insurance Market Challenges
        2.3.4 Usage-Based Vehicle Insurance Market Restraints

3 Competition Landscape by Key Players
    3.1 Global Revenue Usage-Based Vehicle Insurance by Players
        3.1.1 Global Usage-Based Vehicle Insurance Revenue by Players (2020-2025)
        3.1.2 Global Usage-Based Vehicle Insurance Revenue Market Share by Players (2020-2025)
    3.2 Global Usage-Based Vehicle Insurance Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
    3.3 Global Key Players of Usage-Based Vehicle Insurance, Ranking by Revenue, 2023 VS 2024 VS 2025
    3.4 Global Market Concentration Ratio
        3.4.1 Global Usage-Based Vehicle Insurance Market Concentration Ratio (CR5 and HHI)
        3.4.2 Global Top 10 and Top 5 Companies by Usage-Based Vehicle Insurance Revenue in 2024
    3.5 Global Key Players of Usage-Based Vehicle Insurance Head office and Area Served
    3.6 Global Key Players of Usage-Based Vehicle Insurance, Product and Application
    3.7 Global Key Players of Usage-Based Vehicle Insurance, Date of Enter into This Industry
    3.8 Mergers & Acquisitions, Expansion Plans

4 Breakdown Data by Type
    4.1 Global Usage-Based Vehicle Insurance Historic Market Size by Type (2020-2025)
    4.2 Global Usage-Based Vehicle Insurance Forecasted Market Size by Type (2026-2031)

5 Breakdown Data by Application
    5.1 Global Usage-Based Vehicle Insurance Historic Market Size by Application (2020-2025)
    5.2 Global Usage-Based Vehicle Insurance Forecasted Market Size by Application (2026-2031)

6 North America
    6.1 North America Usage-Based Vehicle Insurance Market Size (2020-2031)
    6.2 North America Market Size by Type
        6.2.1 North America Usage-Based Vehicle Insurance Market Size by Type (2020-2031)
        6.2.2 North America Usage-Based Vehicle Insurance Market Share by Type (2020-2031)
    6.3 North America Market Size by Application
        6.3.1 North America Usage-Based Vehicle Insurance Market Size by Application (2020-2031)
        6.3.2 North America Usage-Based Vehicle Insurance Market Share by Application (2020-2031)
    6.4 North America Market Size by Country
        6.4.1 North America Usage-Based Vehicle Insurance Market Size by Country: 2020 VS 2024 VS 2031
        6.4.2 North America Usage-Based Vehicle Insurance Market Size by Country (2020-2031)
        6.4.3 United States
        6.4.4 Canada

7 Europe
    7.1 Europe Usage-Based Vehicle Insurance Market Size (2020-2031)
    7.2 Europe Market Size by Type
        7.2.1 Europe Usage-Based Vehicle Insurance Market Size by Type (2020-2031)
        7.2.2 Europe Usage-Based Vehicle Insurance Market Share by Type (2020-2031)
    7.3 Europe Market Size by Application
        7.3.1 Europe Usage-Based Vehicle Insurance Market Size by Application (2020-2031)
        7.3.2 Europe Usage-Based Vehicle Insurance Market Share by Application (2020-2031)
    7.4 Europe Market Size by Country
        7.4.1 Europe Usage-Based Vehicle Insurance Market Size by Country: 2020 VS 2024 VS 2031
        7.4.2 Europe Usage-Based Vehicle Insurance Market Size by Country (2020-2025)
        7.4.3 Germany
        7.4.4 France
        7.4.5 U.K.
        7.4.6 Italy
        7.4.7 Russia
        7.4.8 Nordic Countries

8 China
    8.1 China Usage-Based Vehicle Insurance Market Size (2020-2031)
    8.2 China Market Size by Type
        8.2.1 China Usage-Based Vehicle Insurance Market Size by Type (2020-2031)
        8.2.2 China Usage-Based Vehicle Insurance Market Share by Type (2020-2031)
    8.3 China Market Size by Application
        8.3.1 China Usage-Based Vehicle Insurance Market Size by Application (2020-2031)
        8.3.2 China Usage-Based Vehicle Insurance Market Share by Application (2020-2031)

9 Asia (excluding China)
    9.1 Asia Usage-Based Vehicle Insurance Market Size (2020-2031)
    9.2 Asia Market Size by Type
        9.2.1 Asia Usage-Based Vehicle Insurance Market Size by Type (2020-2031)
        9.2.2 Asia Usage-Based Vehicle Insurance Market Share by Type (2020-2031)
    9.3 Asia Market Size by Application
        9.3.1 Asia Usage-Based Vehicle Insurance Market Size by Application (2020-2031)
        9.3.2 Asia Usage-Based Vehicle Insurance Market Share by Application (2020-2031)
    9.4 Asia Market Size by Region
        9.4.1 Asia Usage-Based Vehicle Insurance Market Size by Region: 2020 VS 2024 VS 2031
        9.4.2 Asia Usage-Based Vehicle Insurance Market Size by Region (2020-2031)
        9.4.3 Japan
        9.4.4 South Korea
        9.4.5 China Taiwan
        9.4.6 Southeast Asia
        9.4.7 India
        9.4.8 Australia

10 Middle East, Africa, and Latin America
    10.1 Middle East, Africa, and Latin America Usage-Based Vehicle Insurance Market Size (2020-2031)
    10.2 Middle East, Africa, and Latin America Market Size by Type
        10.2.1 Middle East, Africa, and Latin America Usage-Based Vehicle Insurance Market Size by Type (2020-2031)
        10.2.2 Middle East, Africa, and Latin America Usage-Based Vehicle Insurance Market Share by Type (2020-2031)
    10.3 Middle East, Africa, and Latin America Market Size by Application
        10.3.1 Middle East, Africa, and Latin America Usage-Based Vehicle Insurance Market Size by Application (2020-2031)
        10.3.2 Middle East, Africa, and Latin America Market Share by Application (2020-2031)
    10.4 Middle East, Africa, and Latin America Market Size by Country
        10.4.1 Middle East, Africa, and Latin America Usage-Based Vehicle Insurance Market Size by Country: 2020 VS 2024 VS 2031
        10.4.2 Middle East, Africa, and Latin America Usage-Based Vehicle Insurance Market Size by Country (2020-2031)
        10.4.3 Brazil
        10.4.4 Mexico
        10.4.5 Turkey
        10.4.6 Saudi Arabia
        10.4.7 Israel
        10.4.8 GCC Countries

11 Key Players Profiles
    11.1 Progressive
        11.1.1 Progressive Company Details
        11.1.2 Progressive Business Overview
        11.1.3 Progressive Usage-Based Vehicle Insurance Introduction
        11.1.4 Progressive Revenue in Usage-Based Vehicle Insurance Business (2020-2025)
        11.1.5 Progressive Recent Development
    11.2 Allstate Corporation
        11.2.1 Allstate Corporation Company Details
        11.2.2 Allstate Corporation Business Overview
        11.2.3 Allstate Corporation Usage-Based Vehicle Insurance Introduction
        11.2.4 Allstate Corporation Revenue in Usage-Based Vehicle Insurance Business (2020-2025)
        11.2.5 Allstate Corporation Recent Development
    11.3 Octo Telematics
        11.3.1 Octo Telematics Company Details
        11.3.2 Octo Telematics Business Overview
        11.3.3 Octo Telematics Usage-Based Vehicle Insurance Introduction
        11.3.4 Octo Telematics Revenue in Usage-Based Vehicle Insurance Business (2020-2025)
        11.3.5 Octo Telematics Recent Development
    11.4 Lemonade
        11.4.1 Lemonade Company Details
        11.4.2 Lemonade Business Overview
        11.4.3 Lemonade Usage-Based Vehicle Insurance Introduction
        11.4.4 Lemonade Revenue in Usage-Based Vehicle Insurance Business (2020-2025)
        11.4.5 Lemonade Recent Development
    11.5 Allianz SE
        11.5.1 Allianz SE Company Details
        11.5.2 Allianz SE Business Overview
        11.5.3 Allianz SE Usage-Based Vehicle Insurance Introduction
        11.5.4 Allianz SE Revenue in Usage-Based Vehicle Insurance Business (2020-2025)
        11.5.5 Allianz SE Recent Development
    11.6 AXA SA
        11.6.1 AXA SA Company Details
        11.6.2 AXA SA Business Overview
        11.6.3 AXA SA Usage-Based Vehicle Insurance Introduction
        11.6.4 AXA SA Revenue in Usage-Based Vehicle Insurance Business (2020-2025)
        11.6.5 AXA SA Recent Development
    11.7 Liberty Mutual
        11.7.1 Liberty Mutual Company Details
        11.7.2 Liberty Mutual Business Overview
        11.7.3 Liberty Mutual Usage-Based Vehicle Insurance Introduction
        11.7.4 Liberty Mutual Revenue in Usage-Based Vehicle Insurance Business (2020-2025)
        11.7.5 Liberty Mutual Recent Development
    11.8 State Farm
        11.8.1 State Farm Company Details
        11.8.2 State Farm Business Overview
        11.8.3 State Farm Usage-Based Vehicle Insurance Introduction
        11.8.4 State Farm Revenue in Usage-Based Vehicle Insurance Business (2020-2025)
        11.8.5 State Farm Recent Development
    11.9 Modus Group
        11.9.1 Modus Group Company Details
        11.9.2 Modus Group Business Overview
        11.9.3 Modus Group Usage-Based Vehicle Insurance Introduction
        11.9.4 Modus Group Revenue in Usage-Based Vehicle Insurance Business (2020-2025)
        11.9.5 Modus Group Recent Development
    11.10 Travellers
        11.10.1 Travellers Company Details
        11.10.2 Travellers Business Overview
        11.10.3 Travellers Usage-Based Vehicle Insurance Introduction
        11.10.4 Travellers Revenue in Usage-Based Vehicle Insurance Business (2020-2025)
        11.10.5 Travellers Recent Development
    11.11 Cambridge Mobile Telematics
        11.11.1 Cambridge Mobile Telematics Company Details
        11.11.2 Cambridge Mobile Telematics Business Overview
        11.11.3 Cambridge Mobile Telematics Usage-Based Vehicle Insurance Introduction
        11.11.4 Cambridge Mobile Telematics Revenue in Usage-Based Vehicle Insurance Business (2020-2025)
        11.11.5 Cambridge Mobile Telematics Recent Development

12 Analyst's Viewpoints/Conclusions

13 Appendix
    13.1 Research Methodology
        13.1.1 Methodology/Research Approach
            13.1.1.1 Research Programs/Design
            13.1.1.2 Market Size Estimation
            13.1.1.3 Market Breakdown and Data Triangulation
        13.1.2 Data Source
            13.1.2.1 Secondary Sources
            13.1.2.2 Primary Sources
    13.2 Author Details
    13.3 Disclaimer

Table of Figures

List of Tables
 Table 1. Global Usage-Based Vehicle Insurance Market Size Growth Rate by Type (US$ Million): 2020 VS 2024 VS 2031
 Table 2. Key Players of Mileage-based
 Table 3. Key Players of Driving-based
 Table 4. Global Usage-Based Vehicle Insurance Market Size Growth by Application (US$ Million): 2020 VS 2024 VS 2031
 Table 5. Global Usage-Based Vehicle Insurance Market Size Growth Rate (CAGR) by Region (US$ Million): 2020 VS 2024 VS 2031
 Table 6. Global Market Size by Region (2020-2031) & (US$ Million)
 Table 7. Global Usage-Based Vehicle Insurance Market Share by Region (2020-2031)
 Table 8. Market Trends
 Table 9. Market Drivers
 Table 10. Market Challenges
 Table 11. Market Restraints
 Table 12. Global Usage-Based Vehicle Insurance Revenue by Players (2020-2025) & (US$ Million)
 Table 13. Global Usage-Based Vehicle Insurance Market Share by Players (2020-2025)
 Table 14. Global Top Usage-Based Vehicle Insurance Players by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Usage-Based Vehicle Insurance as of 2024)
 Table 15. Global Usage-Based Vehicle Insurance Industry Ranking 2023 VS 2024
 Table 16. Global 5 Largest Players Market Share by Usage-Based Vehicle Insurance Revenue (CR5 and HHI) & (2020-2025)
 Table 17. Global Key Players of Usage-Based Vehicle Insurance, Headquarters and Area Served
 Table 18. Global Key Players of Usage-Based Vehicle Insurance, Product and Application
 Table 19. Global Key Players of Usage-Based Vehicle Insurance, Date of Enter into This Industry
 Table 20. Mergers & Acquisitions, Expansion Plans
 Table 21. Global Market Size by Type (2020-2025) & (US$ Million)
 Table 22. Global Usage-Based Vehicle Insurance Revenue Market Share by Type (2020-2025)
 Table 23. Global Forecasted Market Size by Type (2026-2031) & (US$ Million)
 Table 24. Global Usage-Based Vehicle Insurance Revenue Market Share by Type (2026-2031)
 Table 25. Global Market Size by Application (2020-2025) & (US$ Million)
 Table 26. Global Usage-Based Vehicle Insurance Revenue Market Share by Application (2020-2025)
 Table 27. Global Forecasted Market Size by Application (2026-2031) & (US$ Million)
 Table 28. Global Usage-Based Vehicle Insurance Revenue Market Share by Application (2026-2031)
 Table 29. North America Market Size by Type (2020-2031) & (US$ Million)
 Table 30. North America Market Size by Application (2020-2031) & (US$ Million)
 Table 31. North America Usage-Based Vehicle Insurance Growth Rate (CAGR) by Country (US$ Million): 2020 VS 2024 VS 2031
 Table 32. North America Market Size by Country (2020-2031) & (US$ Million)
 Table 33. Europe Market Size by Type (2020-2031) & (US$ Million)
 Table 34. Europe Market Size by Application (2020-2031) & (US$ Million)
 Table 35. Europe Usage-Based Vehicle Insurance Growth Rate (CAGR) by Country (US$ Million): 2020 VS 2024 VS 2031
 Table 36. Europe Market Size by Country (2020-2025) & (US$ Million)
 Table 37. China Market Size by Type (2020-2031) & (US$ Million)
 Table 38. China Market Size by Application (2020-2031) & (US$ Million)
 Table 39. Asia Market Size by Type (2020-2031) & (US$ Million)
 Table 40. Asia Market Size by Application (2020-2025) & (US$ Million)
 Table 41. Asia Usage-Based Vehicle Insurance Growth Rate (CAGR) by Region (US$ Million): 2020 VS 2024 VS 2031
 Table 42. Asia Market Size by Region (2020-2031) & (US$ Million)
 Table 43. Middle East, Africa, and Latin America Market Size by Type (2020-2031) & (US$ Million)
 Table 44. Middle East, Africa, and Latin America Market Size by Application (2020-2031) & (US$ Million)
 Table 45. Middle East, Africa, and Latin America Usage-Based Vehicle Insurance Growth Rate (CAGR) by Country (US$ Million): 2020 VS 2024 VS 2031
 Table 46. Middle East, Africa, and Latin America Market Size by Country (2020-2031) & (US$ Million)
 Table 47. Progressive Company Details
 Table 48. Progressive Business Overview
 Table 49. Progressive Usage-Based Vehicle Insurance Product
 Table 50. Progressive Revenue (2020-2025) & (US$ Million)
 Table 51. Progressive Recent Development
 Table 52. Allstate Corporation Company Details
 Table 53. Allstate Corporation Business Overview
 Table 54. Allstate Corporation Usage-Based Vehicle Insurance Product
 Table 55. Allstate Corporation Revenue (2020-2025) & (US$ Million)
 Table 56. Allstate Corporation Recent Development
 Table 57. Octo Telematics Company Details
 Table 58. Octo Telematics Business Overview
 Table 59. Octo Telematics Usage-Based Vehicle Insurance Product
 Table 60. Octo Telematics Revenue (2020-2025) & (US$ Million)
 Table 61. Octo Telematics Recent Development
 Table 62. Lemonade Company Details
 Table 63. Lemonade Business Overview
 Table 64. Lemonade Usage-Based Vehicle Insurance Product
 Table 65. Lemonade Revenue (2020-2025) & (US$ Million)
 Table 66. Lemonade Recent Development
 Table 67. Allianz SE Company Details
 Table 68. Allianz SE Business Overview
 Table 69. Allianz SE Usage-Based Vehicle Insurance Product
 Table 70. Allianz SE Revenue (2020-2025) & (US$ Million)
 Table 71. Allianz SE Recent Development
 Table 72. AXA SA Company Details
 Table 73. AXA SA Business Overview
 Table 74. AXA SA Usage-Based Vehicle Insurance Product
 Table 75. AXA SA Revenue (2020-2025) & (US$ Million)
 Table 76. AXA SA Recent Development
 Table 77. Liberty Mutual Company Details
 Table 78. Liberty Mutual Business Overview
 Table 79. Liberty Mutual Usage-Based Vehicle Insurance Product
 Table 80. Liberty Mutual Revenue (2020-2025) & (US$ Million)
 Table 81. Liberty Mutual Recent Development
 Table 82. State Farm Company Details
 Table 83. State Farm Business Overview
 Table 84. State Farm Usage-Based Vehicle Insurance Product
 Table 85. State Farm Revenue (2020-2025) & (US$ Million)
 Table 86. State Farm Recent Development
 Table 87. Modus Group Company Details
 Table 88. Modus Group Business Overview
 Table 89. Modus Group Usage-Based Vehicle Insurance Product
 Table 90. Modus Group Revenue (2020-2025) & (US$ Million)
 Table 91. Modus Group Recent Development
 Table 92. Travellers Company Details
 Table 93. Travellers Business Overview
 Table 94. Travellers Usage-Based Vehicle Insurance Product
 Table 95. Travellers Revenue (2020-2025) & (US$ Million)
 Table 96. Travellers Recent Development
 Table 97. Cambridge Mobile Telematics Company Details
 Table 98. Cambridge Mobile Telematics Business Overview
 Table 99. Cambridge Mobile Telematics Usage-Based Vehicle Insurance Product
 Table 100. Cambridge Mobile Telematics Revenue (2020-2025) & (US$ Million)
 Table 101. Cambridge Mobile Telematics Recent Development
 Table 102. Research Programs/Design for This Report
 Table 103. Key Data Information from Secondary Sources
 Table 104. Key Data Information from Primary Sources


List of Figures
 Figure 1. Global Usage-Based Vehicle Insurance Market Size Growth Rate by Type, 2020 VS 2024 VS 2031 (US$ Million)
 Figure 2. Global Usage-Based Vehicle Insurance Market Share by Type: 2024 VS 2031
 Figure 3. Mileage-based Features
 Figure 4. Driving-based Features
 Figure 5. Global Usage-Based Vehicle Insurance Market Size Growth Rate by Application, 2020 VS 2024 VS 2031 (US$ Million)
 Figure 6. Global Usage-Based Vehicle Insurance Market Share by Application: 2024 VS 2031
 Figure 7. Passenger Cars Case Studies
 Figure 8. Commercial Vehicles Case Studies
 Figure 9. Usage-Based Vehicle Insurance Report Years Considered
 Figure 10. Global Usage-Based Vehicle Insurance Market Size (US$ Million), Year-over-Year: 2020-2031
 Figure 11. Global Usage-Based Vehicle Insurance Market Size, (US$ Million), 2020 VS 2024 VS 2031
 Figure 12. Global Usage-Based Vehicle Insurance Market Share by Region: 2024 VS 2031
 Figure 13. Global Usage-Based Vehicle Insurance Market Share by Players in 2024
 Figure 14. Global Top Usage-Based Vehicle Insurance Players by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Usage-Based Vehicle Insurance as of 2024)
 Figure 15. The Top 10 and 5 Players Market Share by Usage-Based Vehicle Insurance Revenue in 2024
 Figure 16. North America Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 17. North America Usage-Based Vehicle Insurance Market Share by Type (2020-2031)
 Figure 18. North America Usage-Based Vehicle Insurance Market Share by Application (2020-2031)
 Figure 19. North America Usage-Based Vehicle Insurance Market Share by Country (2020-2031)
 Figure 20. United States Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 21. Canada Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 22. Europe Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 23. Europe Usage-Based Vehicle Insurance Market Share by Type (2020-2031)
 Figure 24. Europe Usage-Based Vehicle Insurance Market Share by Application (2020-2031)
 Figure 25. Europe Usage-Based Vehicle Insurance Market Share by Country (2020-2031)
 Figure 26. Germany Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 27. France Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 28. U.K. Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 29. Italy Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 30. Russia Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 31. Nordic Countries Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 32. China Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 33. China Usage-Based Vehicle Insurance Market Share by Type (2020-2031)
 Figure 34. China Usage-Based Vehicle Insurance Market Share by Application (2020-2031)
 Figure 35. Asia Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 36. Asia Usage-Based Vehicle Insurance Market Share by Type (2020-2031)
 Figure 37. Asia Usage-Based Vehicle Insurance Market Share by Application (2020-2031)
 Figure 38. Asia Usage-Based Vehicle Insurance Market Share by Region (2020-2031)
 Figure 39. Japan Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 40. South Korea Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 41. China Taiwan Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 42. Southeast Asia Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 43. India Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 44. Australia Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 45. Middle East, Africa, and Latin America Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 46. Middle East, Africa, and Latin America Usage-Based Vehicle Insurance Market Share by Type (2020-2031)
 Figure 47. Middle East, Africa, and Latin America Usage-Based Vehicle Insurance Market Share by Application (2020-2031)
 Figure 48. Middle East, Africa, and Latin America Usage-Based Vehicle Insurance Market Share by Country (2020-2031)
 Figure 49. Brazil Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 50. Mexico Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 51. Turkey Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 52. Saudi Arabia Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 53. Israel Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 54. GCC Countries Usage-Based Vehicle Insurance Market Size YoY Growth (2020-2031) & (US$ Million)
 Figure 55. Progressive Revenue Growth Rate in Usage-Based Vehicle Insurance Business (2020-2025)
 Figure 56. Allstate Corporation Revenue Growth Rate in Usage-Based Vehicle Insurance Business (2020-2025)
 Figure 57. Octo Telematics Revenue Growth Rate in Usage-Based Vehicle Insurance Business (2020-2025)
 Figure 58. Lemonade Revenue Growth Rate in Usage-Based Vehicle Insurance Business (2020-2025)
 Figure 59. Allianz SE Revenue Growth Rate in Usage-Based Vehicle Insurance Business (2020-2025)
 Figure 60. AXA SA Revenue Growth Rate in Usage-Based Vehicle Insurance Business (2020-2025)
 Figure 61. Liberty Mutual Revenue Growth Rate in Usage-Based Vehicle Insurance Business (2020-2025)
 Figure 62. State Farm Revenue Growth Rate in Usage-Based Vehicle Insurance Business (2020-2025)
 Figure 63. Modus Group Revenue Growth Rate in Usage-Based Vehicle Insurance Business (2020-2025)
 Figure 64. Travellers Revenue Growth Rate in Usage-Based Vehicle Insurance Business (2020-2025)
 Figure 65. Cambridge Mobile Telematics Revenue Growth Rate in Usage-Based Vehicle Insurance Business (2020-2025)
 Figure 66. Bottom-up and Top-down Approaches for This Report
 Figure 67. Data Triangulation
 Figure 68. Key Executives Interviewed

Description

The global Usage-Based Vehicle Insurance market is projected to grow from US$ 62050 million in 2025 to US$ 183890 million by 2031, at a Compound Annual Growth Rate (CAGR) of 19.9% during the forecast period.

Usage-Based Vehicle Insurance (UBI) is a type of auto insurance that calculates premiums based on actual driving behavior and vehicle usage. By utilizing telematics devices such as OBD dongles, T-box units, or mobile apps, it collects real-time data like mileage, driving time, harsh braking, rapid acceleration, and speeding. The insurer uses this data to assess driving risk and adjust premiums accordingly, enabling personalized pricing models like “the safer you drive, the less you pay.”

The US & Canada market for Usage-Based Vehicle Insurance is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.

The China market for Usage-Based Vehicle Insurance is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.

The Europe market for Usage-Based Vehicle Insurance is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.

Market Segmentation

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