Motor Insurance Market Report 2033

The global motor insurance market size was valued at USD 911.64 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 1,685.92 Billion by 2033, exhibiting a CAGR of 7.1% from 2025-2033. North America currently dominates the market owing to the rise of usage-based insurance (UBI) powered by telematics, increasing digitalization through mobile apps and online platforms, and the integration of artificial intelligence (AI) to enhance risk assessment, claims processing, and customer service, all leading to more personalized and efficient offerings.

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