The article cited AMA's Global Private Motor Insurance Market Study explored substantial growth with CAGR of %. According the report, Rising Importance of Private Motor Vehicle Coverage and Telematics for Individuals is one of the primary growth factors for the market. Rising Number of Private Vehicle Accidents
is also expected to contribute significantly to the Private Motor Insurance market. Overall, Passenger Vehicle
applications of Private Motor Insurance, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The presence of players such as Aviva plc (United Kingdom), CIS General Insurance Limited (United Kingdom), Admiral Group plc (United Kingdom), Liberty Mutual Group (United States), Zurich Insurance Group Ltd. (Switzerland), Axa S.A. (France), Progressive Corporation (United States) and Berkshire Hathaway (United States) may see astonishing sales in this Market and certainly improve revenue growth.
AMAs Analyst on the Global Private Motor Insurance market identified that the demand is rising in many different parts of the world as "Surging Investment of People in Private Motor Vehicle will Boost the Private Motor Insurance Market". Furthermore, some recent industry insights like "On 29th April 2020, Bharti AXA General Insurance will now offer usage-based motor insurance policies for private car owners under IRDAI's Sandbox project. For this the general insurer has tied up with insurance aggregator, PolicyBazaar.com.The usage-based motor insurance, also known as ‘pay as you drive’, allows policyholders to pay the premium depending on kilometers driven." is constantly making the industry dynamic. One of the challenges that industry facing is "Stringent regulatory Guidelines on the Private Motor Insurance"
The report provides an in-depth analysis and forecast about the industry covering the following key features:
Detailed Overview of Private Motor Insurance market will help deliver clients and businesses making strategies. Influencing factors that thriving demand and latest trend running in the market What is the market concentration? Is it fragmented or highly concentrated? What trends, challenges and barriers will impact the development and sizing of Private Motor Insurance market SWOT Analysis of profiled players and Porter's five forces & PEST Analysis for deep insights. What growth momentum or downgrade market may carry during the forecast period? Which region may tap highest market share in coming era? What focused approach and constraints are holding the Private Motor Insurance market tight? Which application/end-user category or Product Type [Private Car Motor Insurance Policy, Two-Wheeler Insurance Policy, Commercial Vehicle Insurance Policy and Others] may seek incremental growth prospects? What would be the market share of key countries like Germany, USA, France, China etc.?
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Private Motor Insurance market and other related sub-markets covered in the study.
o Key & emerging players in the Private Motor Insurance market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall Private Motor Insurance market size is calculated using market estimation process, the Private Motor Insurance market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Private Motor Insurance market size has been validated using both top-down and bottom-up approaches.