New York, Aug. 26, 2022 (GLOBE NEWSWIRE) — According to a report published by Next Move Strategy Consulting, the global travel insurance market generated USD 17.58 billion in 2021 and is expected to reach USD 58.93 billion by 2030, witnessing a CAGR of 14.6% from 2022 to 2030. The research provides a detailed analysis of changing market trends of based on driving forces and opportunities. Furthermore, the research analyzes the major segments and their sub-segments with the help of tabular and graphical representation.
Covering a comprehensive analysis in more than 300 pages, accompanied by 175 tables and 145 figures, the report aims to help key players, investors and startups create steps to adopt to achieve sustainable growth and gain advantage competitive. The report also discusses the Covid-19 pandemic and its impact on the travel insurance market size.
Request a free sample: https://www.nextmsc.com/travel-insurance-market/request-sample
| Report coverage | The details |
| Forecast period | 2022–2030 |
| Base year | 2021 |
| Market size in 2021 | 17.58 billion dollars |
| Market size in 2030 | 58.93 billion dollars |
| CAGR | 14.6% |
| number of pages | 312 |
| TABLES | 175 |
| FigureS | 145 |
| Segments covered | Insurance coverage, distribution channel, end user and geography. |
| leader | The growth of the travel and tourism industry with wide coverage in relation to various destinations around the world |
| Ease of booking flights, accommodation and hotels | |
| OppORTuNiTy | Introduction of blockchain technology in the insurance sector |
| Increase in the number of corporate travelers |
The research provides a comprehensive analysis of the driving forces, restraining factors and opportunities of the global travel insurance market. The growth of the travel and tourism industry with wide coverage in relation to various destinations worldwide and ease in booking flights, accommodation and hotels is driving the growth of the global travel insurance market. In addition, the introduction of online platforms that provide reasonable modern accommodation services such as Airbnb and The Plum Guide worldwide attract tourists across the globe. This, in turn, complements the growth of the market. However, strict government regulations related to visa policies and the outbreak of highly infectious diseases such as monkeypox across the world restrain the growth of the market.
Highlighting the opportunities for key players to increase their share of the travel insurance market in the coming years, the Principal Analyst for Consumer Goods at Next Move Strategy Consulting, stated: “The adoption of blockchain technology in the insurance sector will bring transformation in the travel insurance industry. Moreover, the increase in the number of corporate travelers creates new opportunities in the coming years.”
Buy this report directly from here: https://www.nextmsc.com/report/travel-insurance-market
The report provides a detailed segmentation of the global travel insurance market based on insurance coverage, end user, distribution channel and geography. Based on insurance coverage, the report classifies the market into single trip travel insurance, multi-trip annual travel insurance and long stay travel insurance. On the basis of distribution channel, the research further segments the market into insurance brokers, banks, insurance aggregators, insurance companies, insurance brokers, etc. By end user, the report further segments the market into senior citizens, educational travelers, backpackers, business travelers, family travelers and fully independent travelers.
Need a custom report, contact us here: https://www.nextmsc.com/contact
Based on geography, the report segments the global travel insurance market into North America, Europe, Asia Pacific and RoW. Europe held the highest share in 2021 and will maintain its dominance throughout the forecast period. This is due to the large number of international travelers in countries such as Spain, France and Italy and the strict government regulations that made travel medical insurance compulsory for foreign travellers. On the other hand, North America is projected to grow steadily throughout the forecast period. This is due to the rapid growth in the adoption of corporate travel insurance and the ease of availability of domestic travel insurance plans in the region.
The report provides a detailed analysis of each region and its respective countries based on segments and sub-segments. Tables and figures are used to represent the analysis and improve the overall understanding of the market.
If you have any questions, you can ask before buying: https://www.nextmsc.com/travel-insurance-market/inquire-before-buying
The report provides a detailed analysis of the key players in the global travel insurance market. These players include Allianz Group, American Express Company, Zurich Insurance Group, Axa SA, American International Group, Inc., Seven Corners, Inc., Berkshire Hathaway Specialty Insurance, Travel Insured International, Inc., USI Insurance Services and Genarali Group. The report also provides detailed analysis of each player to highlight the competitive scenario.
Buy a full report here: https://www.nextmsc.com/report/travel-insurance-market
Also, browse related reports:
Cyber Insurance Market by Company Size (SMEs and Large Enterprises), by Industry Vertical (Healthcare, Retail, Financial Services (BFSI), Information Technology and Services, and Others) – Global Opportunity Analysis and Forecast of Industry, 2020–2030
Directors and Officers (D&O) Insurance Market. by Coverage (Employment Practice Litigation, Regulatory Investigations, Customer Lawsuits, Accounting Irregularities, and Other Stakeholder Claims) and End User (Public Organizations, Private Organizations, and Non-Profit Organizations) – Global Opportunity Analysis and Forecast industry, 20301–
The travel retail market by product (Perfume and cosmetics, luxury goods, wine and spirits, electronics, food, tobacco, confectionery and snacks, and others) and channel (airport, railway station, cruise line and border, downtown and hotel outlet) – Global Opportunity Industry Analysis and Forecast, 2022–2030
Around us:
Next Move Strategy Consulting is a leading market research and management consulting firm committed to providing its clients with well-documented strategically analyzed research reports. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its high quality research and obsession to turn data into knowledge by breaking down every piece of it and providing evidence-based research recommendations that are backed by information gathered from over 500 million websites, paid databases, industry journals and one-on-one consultations with industry experts in a diverse range of industry sectors. High-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients make critical business decisions that enable them to move beyond time and gain a competitive edge in the industry.
We have served over 1,000 clients globally that includes 90% of Fortune 500 companies over a decade. Our analysts are constantly tracking various high-growth markets and identifying hidden opportunities in each sector or industry. We offer one of the industry’s best quality syndicated as well as custom research reports across 10 different industry verticals. We are committed to providing high quality research solutions tailored to your business needs. Our industry-standard delivery solutions ranging from pre-consultation to after-sales services provide an excellent customer experience and ensure sound strategic decision-making for businesses.