Allied Market Research has published a latest report titled, “Insurtech Market by Offering (Solution and Service), Deployment Model (On-premise and Cloud), Technology (Artificial Intelligence, Cloud Computing, Blockchain, Big Data & Business Analytics, IoT, and Others), End User (Life & Health Insurance and Property and Casualty (P&C) Insurance), and Application (Product Development & Underwriting, Sales & Marketing, Policy Admin Collection & Disbursement, and Claims Management): Global Opportunity Analysis and Industry Forecast, 2021–2030”, which says, the Insurtech market size was valued at $9.41 billion in 2020, and is projected to reach $158.99 billion by 2030, growing at a CAGR of 32.7% from 2021 to 2030.
Factors such as rapid digitalization of business models and saturation of the insurance industry propel the global Insurtech market growth. In addition, incorporation of technologies in existing product lines among insurance companies and untapped potential of emerging economies are expected to provide lucrative opportunities for the Insurtech solution providers in the coming years.
The key players profiled in the Insurtech market research report are Damco Group, Majesco, Oscar Insurance, OutSystems, Quantemplate, Wipro Limited, and Zhongan Insurance.
These players have adopted various strategies such as expansions, mergers & acquisitions, joint ventures, new product launches, and collaborations to gain a strong position in the industry.
Key Benefits for Stakeholders from this Research Report:
- This study comprises analytical depiction of the global Insurtech market outlook along with the current trends and future estimations to depict the imminent investment pockets.
- The overall Insurtech market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and Insurtech market opportunities with a detailed impact analysis.
- The current Insurtech market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and the Insurtech market share of key vendors.
- The report includes the trends and the Insurtech market share of key vendors.
Insurtech market: Segment Analysis
The global Insurtech market share is segmented on the basis of offering, deployment model, technology, end user, application, and region.
Insurtech market: Regional Scope and Demand Analysis for 2021-2030
Region wise, the Insurtech market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
North America is dominating the Insurtech market share, owing to growth of the high investment opportunities. However, Asia-Pacific is projected to register the significant growth rate during the forecast period. Furthermore, LAMEA holds the subsequent position, and is likely to increase its growth rate by the end of the forecast period, followed by Europe.
Key Questions Answered in the Insurtech market Research Report:
Q1. At what CAGR, the Global Insurtech market will expand from 2021 – 2030?
Q2. What will be the revenue of Global industry by the end of 2030?
Q3. Which are the factors that drives global industry Growth?
Q4. Who are the leading players in Insurtech market?
Q5. What are the segments of Insurtech market?
Q6. What are the key growth strategies of Insurtech market Players?
Q7. By Application, which segment is expected to exhibit the highest CAGR during 2021 – 2030?
Q8. By Region, which segment holds a dominant position in 2020 and would maintain the lead over the forecast period?
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Allied Market Research is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.