Middle East and Africa usage based insurance market report has Forecasted Compound Annual Growth Rate (CAGR) in % value for particular period for market that will help user to take decision based on futuristic chart. The Middle East and Africa usage based insurance market report provides with CAGR value fluctuation during the forecast period of 2019-2026 for the market. This report is a valuable source of guidance for companies and individuals offering Industry Chain Structure, Business Strategies and Proposals for New Project Investments. The Middle East and Africa usage based insurance market report also studies the various inhibitors as well as motivators of the Middle East and Africa usage based insurance market Products market in both quantitative and qualitative manners in order to provide accurate information to the readers.
Middle East and Africa usage based insurance market is expected to reach a healthy CAGR of 16.1% in the forecast period of 2019 to 2026.
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Recent Industry developments:
In September 2018, Allstate launched a product for life insurance which will pay on monthly basis rather than lump sum amount. This is consumer driven product which will help the company to cover more market share and to aware the people about life insurance.
In October 2018, The Floow launches FlowFleet for the insurer who deals in commercial line. This helped the insurance company to better manage the risk and to provide the optimal premium price to their customer in the high premium rising market.
In June 2018, Allstate launched pay per mile i.e. usage based insurance in New Jersey. This insurance gives more control to customer about their insurance premium and plans for using telematics services for better management in their insurance segment.
In March 2018, Octo Telematics entered into partnership with Renault finance company to provide data analytics and services to its customer globally. This will increase the global market share of the company.
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Market Segmentation: Middle East and Africa usage-based insurance market
Middle East and Africa usage-based insurance market is segmented into six notable segments which are package type, vehicle type, device offering, technology, vehicle age, and electric & hybrid vehicle.
On the basis of package type, the market is segmented into
Pay-how-you-drive (PHYD), and
In 2019, the pay-as-you-drive (PAYD), market is growing at the CAGR of 16.3% in the forecast period of 2019-2026.
In November 2015 Intelligent Mechatronic Systems (IMS) was awarded for excellence in the innovative. This award made Intelligent Mechatronic Systems (IMS) more popular.
On the basis of vehicle type, the market is segmented into
Light-duty vehicle (LDV) and
Heavy-duty vehicles (HDV)
In 2018, light-duty vehicle (LDV) market is growing with the highest CAGR of 16.5% in the forecast period of 2019 to 2026.
In March 2016, TrueMotion has acquired The Canary Project. Due to this acquisition, company has application developer for developing telematics application.
On the basis of device offering, the market is segmented into
Company provided and
Bring your own device (BYOD)
The company provided market is growing at the CAGR of 15.6% in the forecast period of 2019-2026.
In June 2018, Cambridge Mobile Telematics (CMT) was awarded as best auto digital insurance product award from TU-Automotive Detroi for DriveWell. This award made Cambridge Mobile Telematics (CMT) more popular which increases the overall income of the company
On the basis of technology, the market is segmented into
Black box and others
In 2018, embedded system market is growing with the highest CAGR of 16.5% in the forecast period of 2019 to 2026.
In August 2017, Cambridge Mobile Telematics (CMT) has launched powerful smartphone telematics program for commercial fleets. This launch has improved employee safety, reduce the number of accidents and claims and increase operational efficiency and performance.
On the basis of vehicle age, the market is segmented into
New vehicles and
In 2018, on-road vehicles market is growing with the highest CAGR of 16.5% in the forecast period of 2019 to 2026.
In September 2017, the company was awarded as the global pioneer in telematics insurance and champion for road safety by UK insurance sector This award made company more popular which further increases the overall sells
On the basis of electric and hybrid vehicle, the market is segmented into
Hybrid electric vehicle (HEV),
Plug-in hybrid vehicle (PHEV) and
Battery electric vehicle (BEV)
In 2018 Battery Electric Vehicle (BEV) market is growing with the highest CAGR of 16.7% in the forecast period of 2019 to 2026.
In September 2017, the Progressive Company has introduced ELD Usage-Based Insurance Program for Commercial Truck Drivers. This launch extended the company’s service portfolio
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Key Players: Middle East and Africa usage based insurance market
Allianz, AXA, Progressive Insurance, Allstate, Allstate Canada, Desjardins, Generali, MAPFRE, Metromile, Aviva, Admiral Group Plc,Ageas Group, Octo Telematics, TomTom Telematics, Liberty Mutual Insurance, Intelligent Mechatronic Systems – IMS, Mitsui Sumitomo Insurance Co. (Europe) Ltd, Watchstone Group plc, Allianz Australia, Aviva Canada, Allianz Asia Pacific, AXA Insurance Company, AXA US, Aviva Asia, AXA Italia, AXA UK, Ageas UK, Liberty Mutual Insurance Europe Limited
Table of Contents: Middle East and Africa Patient Handling Equipment Market
Scope/opportunities of the Report
Porter’s Five Forces Analysis
Business Decision Framework
Drivers And Challenges
Market Key Trends
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