Global Usage-based Insurance (UBI) Market Analysis 2024–2033

The Global Usage-based Insurance Market is projected to reach USD 299 billion by 2033, up from USD 32.1 billion in 2023, registering an impressive CAGR of 25.5% from 2024–2033. Rising adoption of telematics, increasing demand for personalized insurance premiums, and cost-effective coverage models are driving growth. The demand impact is profound, as UBI enables insurers to align pricing with individual driving behavior, fostering customer loyalty and risk reduction. Expanding connected vehicle ecosystems and favorable regulatory frameworks further boost adoption, especially in developed markets, while emerging economies present significant untapped opportunities.

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