The global automotive insurance market, according to the recent report published by Market Research Future (MRFR), is touted to attain a substantial market valuation at a moderate CAGR over the review period.
Drivers and Restraints
Several influential factors are driving the growth of the global automotive insurance market, such as the increasing awareness among end-use industry verticals, the advent of advanced technologies and products, and the availability of third-party insurance suppliers in emerging economies such as Brazil, India, Indonesia, Vietnam, and China to offer substantial traction for the automotive insurance market over the review period. Moreover, automotive insurance companies are likely to work with software providers to deliver big data-based solutions to fulfill the end user’s concerns and available market demand during a car-related transaction in the near future.
Additionally, digital technologies and mobile internet are expected to transform the vehicle industry, consequently driving the automotive insurance market. The automotive sector is indisputably undergoing significant changes that are likely to contribute towards an increase in asset utilization, change vehicle ownership models, and enhance vehicle safety, which will eventually impact the global automotive insurance market. Furthermore, the advent of autonomous technology has made cars increasingly safer, which is expected to reduce vehicle accidents by a notable amount over the forecast period. On the other hand, an increase in on-demand transportation and the shift of liability to market players are some of the impactful factors that are slated to hamper the growth of global automotive insurance over the assessment period.
Get a FREE Sample with Complete TOC @ https://www.marketresearchfuture.com/sample_request/7793
The global market for automotive insurance is bifurcated on the basis of vehicle type and insurance type. On the basis of vehicle type, the global market for automotive insurance has been segmented into light commercial vehicles (LCV), passenger cars, and heavy commercial vehicle (HCV). On the basis of the insurance type, the global automotive insurance market has been segmented into comprehensive, third-party, third theft and fire, and others
On the basis of the region, the global market for automotive insurance is studied in Europe, North America, Asia-Pacific, and the rest of the world. Asia-Pacific is one of the major markets for automotive insurance and is projected to account for the largest market share in the global automotive insurance market due to the flourishing automotive industry in the region, significant vehicle sales, and the augmented consumer awareness to evade financial inconvenience during repairs and theft. The Europe automotive insurance market, on the other hand, is expected to expand progressively over the review period due to economic recovery in the past few years, with a focus on compulsory motor third-party liability insurance.
North America is also assessed as one of the significant markets for automotive insurance and is estimated to register substantial growth in the global automotive insurance market due to the remarkable sales of light commercial vehicles over the review period.
The major market players involved in the global automotive insurance market as identified by MRFR are RAC Motoring Services (UK), Allstate Insurance Company (US), Progressive Casualty Insurance Company (US), GEICO (US), Clements Worldwide (US), NFU Mutual (UK), ABIC Inc. (China), Zhongan Insurance (China), CPIC (China), RSA Insurance Group plc (UK), State Farm Mutual Automobile Insurance Company (US), and Zurich Insurance Group (Switzerland).
The market players operating in the global insurance market are expected to increase the investments towards research and development activities and expand the competitive dynamics of the global automotive insurance market with business strategies such as mergers, acquisitions, joint ventures, and partnerships, among others. These are expected to create growth opportunities in the market over the review period.
Browse More Information On This Report at: https://www.marketresearchfuture.com/reports/automotive-insurance-market-7793
List Of Tables
Table 1 Global Automotive Insurance Market, By Region, 2018–2024
Table 2 North America: Automotive Insurance Market, By Country, 2018–2024
Table 3 Europe: Automotive Insurance Market, By Country, 2018–2024
Table 4 Asia-Pacific: Automotive Insurance Market, By Country, 2018–2024
Table 5 RoW: Automotive Insurance Market, By Region, 2018–2024
Table 6 Global Automotive Insurance Market, By Vehicle Type, By Regions, 2018–2024
Table 7 North America: Automotive Insurance Market, By Vehicle Type, By Country, 2018–2024
Table 8 Europe: Automotive Insurance Market, By Vehicle Type, By Country, 2018–2024
Table 9 Asia-Pacific: Automotive Insurance Market, By Vehicle Type, By Country, 2018–2024
Table 10 RoW: Automotive Insurance Market, By Vehicle Type, By Country, 2018–2024
List Of Figures
Figure 1 Research Process Of MRFR
Figure 2 Top-Down And Bottom-Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
Figure 8 Global Automotive Insurance Market Share, By Vehicle Type, 2018 (%)
Figure 9 Global Automotive Insurance Market, By Vehicle Type, 2018–2024 (USD MILLION)
Figure 10 Global Automotive Insurance Market Share, By Insurance Type, 2018 (%)
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.
Other Related Market Research Reports:
Electric Bikes Cargo Market 2019 Global Industry Analysis, Segments Overview, Major Geographies, Key Manufacturers, Suppliers & Traders, Prominent Players Review and Forecast To 2023
Global Automotive Electronic Brake System Market Research Report: By Technology (Brake Assistance, Autonomous Emergency Braking, Electronic Stability Control, Anti-lock Braking Systems), Component, Vehicle Type, Sales Channel, Region – Forecast Till 2023
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
Press Release Distributed by ABNewswire.com
To view the original version on ABNewswire visit: Motor Insurance Market 2019 Global Industry Analysis, Segments Overview, Major Geographies, Key Manufacturers, Suppliers & Traders, Prominent Players Review and Forecast To 2024
Information contained on this page is provided by an independent third-party content provider. Frankly and this Site make no warranties or representations in connection therewith. If you are affiliated with this page and would like it removed please contact firstname.lastname@example.org
All content © Copyright 2000 - 2019. All Rights Reserved. <BR>For more information on this site, please read our <a href="//wnow.worldnow.com/story/18990/this-web-sites-privacy-policy" >Privacy Policies </a>, and <A HREF="//wnow.worldnow.com/story/18991/this-sites-terms-of-service">Terms of Service</A>.