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(Transportation-News.com, August 05, 2018 ) An innovative insurance plan for any automotive owner wherein costs of the insurance premium varies with different parameters that include vehicle usage, distance covered using the vehicle, driving behavior of the driver, and the speed at which the driver drives the vehicle. The usage based insurance system for the automotive industry is supposed to be a highly interactive system that interacts constantly with the vehicle and human behavior. Such an innovative usage based insurance system enables the vehicle owner to save considerable money on the premiums. Within this market, the Pay As You Drive (PAYD) and Manage How You Drive (MHYD) are anticipated to become the most preferred types for the calculation of premiums. Many factors are anticipated to augur in good stead for the growth of automotive usage based insurance market.
High advancements in the vehicle telematics technology coupled with increasing usage of sophisticated electronic components integrated by the Automotive OEMs is touted to be one of the major factors driving the automotive usage based insurance market. The concerns regarding the connectivity of technology in areas where the internet does not work well is one of the factors that would hinder the growth of automotive usage based insurance market. Also, advancements in the internet infrastructures of the telecommunication service providers would provide better opportunities for the market players to invest in the business model and enable a prosperous development in the automotive usage based insurance market.
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The "Global Automotive Usage Based Insurance Market Analysis to 2025" is a specialized and in-depth study of the automotive usage based insurance market with a focus on the global market trend. The report aims to provide an overview of global automotive usage based insurance market with detailed market segmentation by technology, service type, and geography. The global Automotive Usage Based Insurance Market is expected to witness steady growth during the forecast period. The report provides key statistics on the market status of the leading market players operating in the automotive usage based insurance market and offers key trends and opportunities in the market.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global automotive usage based insurance Market based on technology, and service type. It also provides market size and forecast till 2025 for overall automotive usage based insurance market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 16 countries globally along with current trend and opportunities prevailing in the region for automotive usage based insurance market.
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Some of the key players influencing the market are Allianz, Intelligent Mechatronic Systems, Watchstone Group, Octo Telematics, and Sierra Wireless. Also, Hubio, Baseline Telematics, Masternaut, TomTom Telematics, and Progressive Corporation are few other important players in the automotive usage based insurance market.
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Source: EmailWire.Com 
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