Dublin, March 18, 2024 (GLOBE NEWSWIRE) -- The "Travel Insurance Market Report by Insurance Type, Coverage, Distribution Channel, End User, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global travel insurance market size reached US$ 17.9 billion in 2023. The market is projected to reach US$ 47.1 billion by 2032, exhibiting a growth rate (CAGR) of 11.34% during 2023-2032.
The substantial growth in the travel and tourism industry in recent years, on account of inflating disposable incomes, rising business travels and the easy availability of online travel bookings and discounted package holidays represents one of the major factors bolstering the global travel insurance market growth.
Moreover, governments of numerous countries have made it mandatory to attach travel insurance documents while applying for a visa, which is also contributing to the market growth. Apart from this, leading players are incorporating digital tools, such as application program interface (API), artificial intelligence (AI), data analytics and global positioning system (GPS), for improving distribution systems and providing personalized user experience.
Key Questions Answered in This Report
- What was the size of the global travel insurance market in 2023?
- What is the expected growth rate of the global travel insurance market during 2024-2032?
- What are the key factors driving the global travel insurance market?
- What has been the impact of COVID-19 on the global travel insurance market?
- What is the breakup of the global travel insurance market based on the insurance type?
- What is the breakup of the global travel insurance market based on the coverage?
- What is the breakup of the global travel insurance market based on distribution channel?
- What is the breakup of the global travel insurance market based on the end user?
- What are the key regions in the global travel insurance market?
- Who are the key players/companies in the global travel insurance market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 145 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $17.9 Billion |
| Forecasted Market Value (USD) by 2032 | $47.1 Billion |
| Compound Annual Growth Rate | 11.3% |
| Regions Covered | Global |
Company Profiles
- Allianz SE
- American Express Company
- American International Group
- AXA SA
- Berkshire Hathaway Specialty Insurance Company
- Generali Group
- Insure & Go Insurance Services (Mapfre S.A.)
- Seven Corners Inc.
- Travel Insured International Inc. (Crum & Forster)
- USI Affinity (USI Insurance Services) and Zurich Insurance Group AG
Key Market Segmentation:
Breakup by Insurance Type:
- Single-Trip Travel Insurance
- Annual Multi-Trip Insurance
- Long-Stay Travel Insurance
Breakup by Coverage:
- Medical Expenses
- Trip Cancellation
- Trip Delay
- Property Damage
- Others
Breakup by Distribution Channel:
- Insurance Intermediaries
- Banks
- Insurance Companies
- Insurance Aggregators
- Insurance Brokers
- Others
Breakup by End User:
- Senior Citizens
- Education Travelers
- Business Travelers
- Family Travelers
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/sn80m1
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