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Global Travel Insurance Market Forecast to 2028: Increasing Demand for Comprehensive Coverage Options
Dublin, March 13, 2024 (GLOBE NEWSWIRE) -- The "Global Travel Insurance Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
This in-depth market research reveals compelling growth within the Global Travel Insurance sector, anticipated to burgeon from USD 19.75 billion in 2023 to an impressive USD 46.27 billion by 2028, with an estimated CAGR of 18.56%. This significant surge is attributed to the heightened demand for diversified travel insurance products catering to various types of travel experiences and consumer segments.
Market dynamics play a pivotal role in steering the travel insurance industry, as evolving consumer needs, technological advancements, and economic factors collectively contribute to the sector's trajectory. The report delineates these market forces and highlights their impact on prices, behaviors, and the stakeholder decisions shaping the industry landscape.
Refined market segmentation within the report offers a granular view of the industry, delving into the proliferation of Single-Trip Travel Insurance, Annual Multi-Trip Travel Insurance, and Long-Stay Travel Insurance. Distribution channels are dissected into Insurance Intermediaries, Insurance Companies, Banks, and Insurance Brokers and Aggregators, while the end-user scope encompasses Educational Travel, Business Travel, Family Travel, Senior Citizens, and more.
The geographical analysis extends to key regions including the Americas, Europe, Middle East & Africa, and Asia-Pacific, offering a panoramic perspective on the international market's expanse and potential.
Company profiles included in the research provide a detailed competitive analysis, financial performance metrics, and insights into strategic developments, fostering an understanding of the market's composition and directional momentum. The analysis presents a diverse array of incumbents, such as Allianz Group, Aviva PLC, and Berkshire Hathaway Specialty Insurance Company, underscoring their pivotal roles within the market ecosystem.
The incorporation of a Competitive Quadrant offers a strategic tool to evaluate company positioning based on industry performance and market scores, factoring in aspects such as financial stability, growth strategy execution, and market share advancement.
An Ansoff Analysis is integral to the report's strategic insights, providing a matrix that reviews growth strategies through lenses such as Market Development and Diversification, alongside a SWOT analysis that emphasizes strategic planning catered to the travel insurance sector's future.
Report Highlights
Thorough analysis of the parent industry and overarching market dynamics.
Insights into market trends, segmentation, and geographic proliferation.
Assessment of market strategies and shares of key industry players.
Focused recommendations for bolstering market position and capitalization on growth opportunities.
Companies Mentioned
Allianz Group
American Express Co,
American International Group, Inc.
Assicurazioni Generali S.p.A.
Atlas Travel Insurance Services Ltd.
Aviva PLC
AXA SA
Bajaj Finserv Ltd.
Battleface Insurance Services Ltd.
Berkshire Hathaway Specialty Insurance Co.
China Life Insurance Co., Ltd.
China Pacific Life Insurance Co., Ltd.
Chubb Ltd.
Mapfre Insurance Company, Inc.
Ms&Ad Insurance Group Holdings, Inc.
Munich Reinsurance Co.
Ping An Insurance Company of China, Ltd.
Prudential Financial, Inc.
Saga PLC
Seven Corners, Inc.
Travelex Insurance Services
Travelsafe Insurance
USI Insurance Services
Zurich Insurance Co., Ltd.
Key Attributes
Report Attribute | Details |
No. of Pages | 172 |
Forecast Period | 2023-2028 |
Estimated Market Value (USD) in 2023 | $20.78 Billion |
Forecasted Market Value (USD) by 2028 | $48.75 Billion |
Compound Annual Growth Rate | 18.5% |
Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/jvs3c2
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