The global self-driving car insurance market is projected to grow from $22 billion in 2022 to $88.1 billion by 2032, registering a CAGR of 15.3% from 2023 to 2032, according to a report by Allied Market Research.
The report, Global Self-Driving Car Insurance Market Size by Application, Coverage, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2023–2032, highlights that the advancement of autonomous vehicle technology is the primary driver of market growth. Rising vehicle purchases also present significant opportunities for the self-driving car insurance sector, although regulatory complexities remain a challenge.
By application, the personal segment dominated the market in 2022, accounting for 75% of total revenue, and is expected to maintain its leading position throughout the forecast period.
Growth in this segment is driven by increasing vehicle usage for both personal and business purposes. Notably, from 2023 to 2032, the personal segment is projected to grow at the fastest rate of 17.5%, fueled by rising consumer purchasing power and adoption of autonomous vehicles.
The study also categorizes the market by insurance coverage—including third-party liability and comprehensive coverage—and distribution channels, such as insurance agents/brokers, direct sales, and banks, providing insights into evolving industry opportunities and trends.
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