Dublin, Aug. 15, 2024 (GLOBE NEWSWIRE) -- The "Digital Insurance Platform - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Digital Insurance Platform is estimated at US$132.9 Billion in 2023 and is projected to reach US$259.3 Billion by 2030, growing at a CAGR of 10.0% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the digital insurance platform market is driven by several factors, including technological advancements, regulatory changes, and evolving consumer expectations. Innovations in technology, particularly in AI, IoT, and predictive analytics, have enabled insurers to enhance their operational efficiencies and offer more competitive and customized products. Regulatory environments in many regions are also adapting, encouraging transparency, data protection, and consumer rights, which digital platforms are uniquely equipped to handle.
Furthermore, the shift in consumer behavior towards digital solutions for managing their finances, including insurance, demands that insurers invest in technology that meets these expectations. The increased focus on data security and the push towards digital transformation across the financial services sector further stimulate the growth of digital insurance platforms, ensuring they remain integral to the future of the insurance industry.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Automotive & Transportation Application segment, which is expected to reach US$71.0 Billion by 2030 with a CAGR of a 12.0%. The Home & Commercial Buildings Application segment is also set to grow at 10.0% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $39.2 Billion in 2023, and China, forecasted to grow at an impressive 12.2% CAGR to reach $33.1 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as CGI, Inc., Halo Insurance Services Limited, Ebix, Inc., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Questions Answered:
- How is the Global Digital Insurance Platform Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 586 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $132.9 Billion |
| Forecasted Market Value (USD) by 2030 | $259.3 Billion |
| Compound Annual Growth Rate | 10.0% |
| Regions Covered | Global |
MARKET OVERVIEW
- Digital Insurance Platform - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- An Introduction to Digital Insurance Platform: Creating Value Ecosystems within Insurance Industry
- Digital Insurance Platform Market Charts an Ambitious Course with Positive Outlook: Global Market Prospects
- Pandemic-Led Boost to Digitalization: A Bonus for Digital Insurance Platforms
- Key Drivers & Restraints
- Insurtech: Playing Key Role in Digital Innovation during Pandemic
- Recent Market Activity
- Analysis by Application: Automotive & Transportation to Remain Primary Application
- Analysis by End-Use
- Regional Analysis
- World Digital Insurance Platform Market by Region (2021 & 2027): Percentage Breakdown of Revenues for Developed and Developing Regions
- Impact of Pandemic on the Asian Insurance Digitalization Roadmap
MARKET TRENDS & DRIVERS
- Insurance Sector & Technological Sophistication: The Evolution over Years
- Prioritizing Digital Engagement: Adapting to a New Normal
- Intervention of Advanced Technology & Digital Platforms to Reshape Insurance Sector
- Rising Adoption of Digital Engagement Technologies in Insurance Augurs Well
- Chatbots Emerge as Prominent Elements in Digital Insurance Model
- Internet Penetration & Usage Patterns Encourage Adoption of Digital Insurance Model
- Growing Lenience towards Digital Lifestyles Widens Prospects
- Northbound Trajectory in eCommerce & mCommerce Enthuses the Digital Insurance Marketplace
- Growing Emphasis on Customer Self-Service & On-Demand Economy to Aid Wider Uptake
- Cybersecurity & Fraud Prevention Assurances: Need of the Hour
- Growing Focus on Eco-Friendly & Paper-Less Business Processes to Benefit the Market
- AI & ML to Rev Up the Relevance of Digital Insurance Model
- Digital Insurance Model to Gain Impetus from Blockchain Technology
- FinTech & Big Data Trends Encourage Market Expansion
- Issues & Challenges
FOCUS ON SELECT PLAYERS (Total 125 Featured)
- CGI, Inc.
- Halo Insurance Services Limited
- Ebix, Inc.
- Duck Creek Technologies LLC
- eBaoTech Corporation
- EIS Group Software Limited
- Guidewire Software, Inc.
- FINEOS Corporation Ltd.
- Corvus Insurance Holdings, Inc.
- Altitude Software
- A1 Enterprise
- Andesa Services, Inc.
- ClarionDoor
- Boost Insurance Agency, Inc.
- House of Insurtech
For more information about this report visit https://www.researchandmarkets.com/r/g8vjps
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