The global automotive usage-based insurance market size is poised to grow by 37.25 million units during 2020-2024, progressing at a CAGR of almost 7% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Automotive Usage-Based Insurance Market 2020-2024 (Graphic: Business Wire)
The growth in smartphone-enabled programs and their usage will be a significant factor driving the growth of the automotive usage-based insurance market. Automotive OEMs are increasingly collaborating with smartphone and tablet manufacturers to provide in-vehicle products and services.