Usage-Based Insurance Market to Reach $267.40 billion globally, by 2032 at 26.2% CAGR: Allied Market Research [Yahoo! Finance]
Allstate Corporation (The) (ALL)
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Source: Yahoo! Finance
methods and flexible insurance premiums boost the growth of the global usage-based insurance market. In addition, factors such as the higher possibility of the vehicle being recovered, in case it is stolen, and lower fuel consumption have positively impact on the growth of the market. WILMINGTON, Del. March 10, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, Usage-Based Insurance Market by Policy Type (Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD), and Manage-How-You-Drive (MHYD)), Technology (OBD (On-Board Diagnostics)-II, Smartphone, Hybrid, and Black Box), Vehicle Age (New Vehicles and Used Vehicles), and Vehicle Type (Light-duty Vehicle (LDV) and Heavy-duty Vehicle (HDV): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the usage-based insurance market was valued at valued at $26.79 billion in 2022, and is projected to reach $267.40 billion by 2032, exhibiting a CAGR of 26.2% from 2023 to 2032. (We are providin
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