Automotive Insurance Market 2019 Industry Trends, Share, Size, Growth Opportunities, Applications, Revenue, Key Players, And Global Forecast To 2023
Jun 3, 2019
Automotive Insurance Market 2019 Global Industry Analysis To 2024 is latest research report on “Global Automotive Insurance Market” published by Market Research Future. Automotive Insurance Market to Gain from Rollouts of Insurance Applications.
Pune, India - June 3, 2019 /MarketersMedia/ —
Increasing Number of Registered Cars to Boost Automotive Insurance Market. Global Automotive Insurance Market by Vehicle Type (Passenger Cars, LCV, and HCV), by Insurance Type (Third-Party, Comprehensive, Third-Party Theft and Fire, and Others), and by Region (North America, Europe, Asia-Pacific, and the Rest of the World) - Forecast till 2024.
Automotive Insurance Global Market Overview:
Clements Worldwide (US), Zhongan Insurance (China), CPIC (China), RAC Motoring Services (UK), ABIC Inc. (China), Progressive Casualty Insurance Company (US), Zurich Insurance Group (Switzerland), RSA Insurance Group plc (UK), Allstate Insurance Company (US), NFU Mutual (UK), State Farm Mutual Automobile Insurance Company (US), and GEICO (US) are the key players in the automotive insurance market.
Get Free Sample “Automotive Insurance Market Research Report 2019” at: https://www.marketresearchfuture.com/sample_request/7793
Surging incidence rate of vehicle theft and road accidents have significantly driven the automotive insurance market. Market Research Future (MRFR)'s latest report on the global automotive insurance market has identified the megatrends as well as micro-economic factors affecting the growth of the market. MRFR has projected a CAGR of 4.4% in the automotive insurance market over the forecast period of 2019-2024.
Strengthening of multiple economies has led to more and more cars hitting the road. Increase in vehicle ownership has directly impacted the automotive insurance market. Elevation in the level of awareness among consumers regarding minimization of legal and financial risks associated with car theft or accidents has led to the increased adoption of insurance among vehicle owners.
Both the automotive as well as the insurance sector, in general, are subject to strict monitoring. Multiple governments mandate insuring vehicles in the event of new car purchase. Besides, various attractive offered provided by insurance companies also lure consumers, which are expected to push the automotive insurance market further.
The availability of telematics devices and ubiquity of smartphones has prompted automotive insurers to experiment with usage-based insurance. The emergence of various automotive insurance applications has provided fuel for the growth of the automotive insurance market. Such applications help in actual tracking of driving and offer discounts and rewards for safe driving. Such initiatives also help to encourage consumers for safe driving. Discounts and offers act as incentives for users to keep such apps running. Automotive OEMs venturing into the insurance space, generally known as OEM captive finance, is likely to push the automotive insurance market further.
Sustained growth in mature markets along with a greater share of emerging markets is expected to fare well for the growth of the market. Growth in emerging markets is primarily driven by the continued expansion of the Chinese insurance market. Regulatory changes along with a rebound in LatAm, Central, and Eastern Europe and Africa. Furthermore, improvement in interest policies is expected to reflect positively on the automotive insurance market.
On the contrary, the proliferation of autonomous cars is anticipated to deter the growth of the automotive car insurance market. Autonomous cars reduce accident rates and shift liability from drivers to manufacturers, which is a major impediment to the market growth. Additionally, motor fellets, car-sharing, and driverless taxis are also anticipated to result in reduced car ownership which will ultimately constrain the growth of the automotive insurance market.
Segmentation
The global automotive insurance market has been segmented based on vehicle type, insurance type.
By vehicle type, the automotive insurance market has been segmented into passenger cars, light commercial vehicle (LCV), and heavy commercial vehicle (HCV).
By insurance type, the automotive insurance market has been segmented into third-party, comprehensive, third-party theft and fire, and others.
Regional Analysis
By region, the automotive vehicle insurance market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
The APAC automotive insurance market accounts for the maximum share of the global automotive insurance market. Economic upturn along with increasing purchasing power in the region has driven the sales of the vehicle significantly which translates into accelerated growth within the automotive insurance market. Additionally, the presence of several automotive insurance providers has created a conducive environment for the growth of the market.
Economy recovery in Europe has created favorable grounds for the growth of the automotive insurance market. Heightened sales of light commercial vehicles are anticipated to boost the growth of the North America automotive insurance market.
Industry Updates:
April 2019 - Tesla, Inc., a premium automotive and energy company, announced that it is foraying into the insurance business. The company announced that it would start offering insurance to vehicle owners based on internal data extracted from the Autopilot driver-assist system.
TABLE OF CONTENTS
1. Executive Summary
2. Scope Of The Report
2.1. Market Definition
2.2. Scope Of The Study
2.2.1. Definition
2.2.2. Research Objective
2.2.3. Assumptions
2.2.4. Limitations
2.3. Research Process
2.3.1. Primary Research
2.3.2. Secondary Research
2.4. Market Size Estimation
2.5. Forecast Model
3. Market Landscape
3.1. Porter’s Five Forces Analysis
3.1.1. Threat Of New Entrants
3.1.2. Bargaining Power Of Buyers
3.1.3. Threat Of Substitutes
3.1.4. Segment Rivalry
3.1.5. Bargaining Power Of Buyers
3.2. Value Chain/Supply Chain Analysis
4. Market Dynamics
4.1. Introduction
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Market Trends
5. Global Automotive Insurance Market, By Vehicle Type
5.1. Introduction
5.2. Passenger Cars
5.2.1. Market Estimates & Forecast, 2019–2024
5.2.2. Market Estimates & Forecast, By Region, 2019–2024
5.3. Light Commercial Vehicle (LCV)
5.3.1. Market Estimates & Forecast, 2019–2024
5.3.2. Market Estimates & Forecast, By Region, 2019–2024
5.4. Heavy Commercial Vehicle (HCV)
5.4.1. Market Estimates & Forecast, 2019–2024
5.4.2. Market Estimates & Forecast, By Region, 2019–2024
6. Global Automotive Insurance Market, By Insurance Type
6.1. Introduction
6.2. Third-Party
6.2.1. Market Estimates & Forecast, 2019–2024
6.2.2. Market Estimates & Forecast, By Region, 2019–2024
6.3. Comprehensive
6.3.1. Market Estimates & Forecast, 2019–2024
6.3.2. Market Estimates & Forecast, By Region, 2019–2024
6.4. Third-Party Theft And Fire
6.4.1. Market Estimates & Forecast, 2019–2024
6.4.2. Market Estimates & Forecast, By Region, 2019–2024
6.5. Others
6.5.1. Market Estimates & Forecast, 2019–2024
6.5.2. Market Estimates & Forecast, By Region, 2019–2024
6.5.3.
7. Global Automotive Insurance Market, By Region
Continued…
Browse More Details At: https://www.marketresearchfuture.com/reports/automotive-insurance-market-7793
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact Info:
Name: abhishek sawant
Email: Send Email
Organization: Market Research Future
Address: Market Research Future Office No. 528,, Amanora Chambers Magarpatta Road, Pune, India.,
Phone: +1 646 845 9312
Website: https://www.marketresearchfuture.com/reports/automotive-insurance-market-7793
Source: MarketersMedia
Release ID: 519611
More News
Gibo Teodoro hits Chinese envoy's statements: We are being threatened
Defense Secretary Gilberto “Gibo” Teodoro slammed the apparent threat from the Chinese envoy to the Philippines, saying his department is currently studying the statement.
Northern Samar mourns political ‘titan’ Raul Daza, 91
TACLOBAN CITY — Northern Samar mourned the death of Raul Daza, a political titan who served the province as governor and congressman for decades, with local leaders honoring his legacy of public service, democratic principles, and contributions to the province’s development. Daza, 91, died on Monday, Oct. 12, after a lingering illness, his family announced
Who is Edrieza Rimbang, the ex-solon allegedly linked to the P3.5-B shabu from Laos?
The Department of Interior and Local Government (DILG) has revealed the Mindanao politician tagged in the attempted smuggling of shabu from Laos to the Philippines: former Bangsamoro Parliament member Edrieza Rimbang. But who is Rimbang?
Marcos vows to strengthen PCG amid maritime challenges
MANILA, Philippines — President Ferdinand Marcos Jr. on Friday vowed to strengthen the Philippine Coast Guard’s (PCG) capabilities and readiness amid increasingly complex maritime challenges, as he urged its personnel to remain steadfast in their service. Marcos made the commitment during the PCG’s 125th founding anniversary celebration at South Harbor in Manila. “And so as
Biliran barangay chairman shot dead; suspect arrested
TACLOBAN CITY — The barangay chairman of Libtong-Dako in Naval, Biliran, was shot dead in the early hours of Friday after he went with his younger brother to confront a man who allegedly had been throwing stones at their residence, police said. The victim, identified as Junrey Ancero, 48, was found lying on the ground
BARMM chief lauds Marcos’ affirmation of Bangsamoro autonomy
COTABATO CITY— Bangsamoro Interim Chief Minister Abdulraof Macacua on Thursday welcomed President Ferdinand Marcos Jr.’s affirmation of Bangsamoro autonomy, including its democratic institutions and political processes. “This principled position powerfully affirms the autonomy rightfully earned through decades of struggle, sacrifice, and unwavering commitment to peace,” Macacua said in a statement after the President congratulated the
Senate OKs DepEd's 2027 budget; P147.93B more asked for ARAL
The Senate Finance Committee approved Friday the proposed budget of the Department of Education (DepEd) for fiscal year 2027, subject to the discussion and submission of requested documents.
VP camp accuses Marcos admin of political persecution over NBI probe
MANILA, Philippines — The camp of Vice President Sara Duterte on Friday accused the Marcos administration of using the National Bureau of Investigation (NBI) to persecute her politically, calling the bureau’s findings on her alleged misdeclared properties a “shameless smear campaign.” Duterte’s spokesperson, Salvador Paolo Panelo Jr., questioned NBI Director Melvin Matibag’s decision to publicize
JAZA: Does the Philippines have what it takes to win big investments?
The Ayala chairman wants an 'honest conversation' on Philppine investments and talks teamwork to a roomful of rivals at Makati Business Club's sapphire anniversary
SET denies motion to junk quo warranto petition vs Erwin Tulfo amid citizenship issue
The Senate Electoral Tribunal (SET) on Friday denied the motion for reconsideration for the dismissal of the quo warranto petition seeking the removal of Senator Erwin Tulfo from office due to his supposed citizenship issues.
2 Camarines Norte jails to get safer drinking water
LEGAZPI CITY — Two jail facilities in Camarines Norte will install water treatment facilities under a government partnership to improve access to safe drinking water for persons deprived of liberty (PDLs) and jail personnel. The three-year Project Aqua will provide a water treatment system, a drinking water station, and a backup generator for the Labo
Win Gatchalian to still issue warning vs. prosecution over wacky photos despite apology
Senate President Sherwin Gatchalian on Friday accepted the apology of House lead prosecutor Representative Gerville Luistro of Batangas for the wacky photos taken by the prosecution panel inside the session hall, but maintained that a warning will still be issued against them.
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.