Market size of automotive UBI market worldwide 2018-2027
The global automotive usage-based insurance (UBI) market was forecast to grow to 105.12 billion U.S. dollars by 2027, up from 15.62 billion U.S. dollars in 2018. UBI is also known as pay as you drive (PAYD) and pay how you drive (PHYD), as it the practice of collecting driving data from a vehicle to calculate the auto premium of the respective driver.