DUBLIN, Oct. 28, 2022 /PRNewswire/ — The “Digital Insurance Platform – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Digital Insurance Platform Market to Reach $186.4 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Digital Insurance Platform estimated at US$102.2 Billion in the year 2020, is projected to reach a revised size of US$186.4 Billion by 2027, growing at a CAGR of 9% over the period 2020-2027. Services, one of the segments analyzed in the report, is projected to record 9.3% CAGR and reach US$132.7 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Tools segment is readjusted to a revised 8.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $32.4 Billion, While China is Forecast to Grow at 11.4% CAGR
The Digital Insurance Platform market in the U.S. is estimated at US$32.4 Billion in the year 2020. China, the world’s second largest economy, is forecast to reach a projected market size of US$23.6 Billion by the year 2027 trailing a CAGR of 11.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.5% and 7.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.5% CAGR.
Select Competitors (Total 125 Featured) –
- Accenture plc
- Appian Corporation
- Cognizant Technology Solutions Corporation
- Duck Creek Technologies
- DXC Technology Company
- EIS Group Inc.
- IBM Corporation
- Infosys Limited
- Majesco
- Microsoft Corporation
- Mindtree Ltd.
- Oracle Corporation
- Pegasystems Inc.
- Prima Solutions SA
- SAP SE
- Tata Consultancy Services Limited
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Insurance Sector & Technological Sophistication: The Evolution over Years
- Prioritizing Digital Engagement: Adapting to a New Normal
- Intervention of Advanced Technology & Digital Platforms to Reshape Insurance Sector
- Rising Adoption of Digital Engagement Technologies in Insurance Augurs Well
- Chatbots Emerge as Prominent Elements in Digital Insurance Model
- Internet Penetration & Usage Patterns Encourage Adoption of Digital Insurance Model
- Internet Penetration Rate (%) Worldwide: April 2020
- Growing Lenience towards Digital Lifestyles Widens Prospects
- Global Market for Smartphones in Billions: 2016-2021
- Smartphone Penetration Rate as Share of Total Population: 2016-2021
- Northbound Trajectory in eCommerce & mCommerce Enthuses the Digital Insurance Marketplace
- Global B2C eCommerce Sales in US$ Trillion for the Years 2019, 2020, 2021, 2022, 2023, 2024, and 2025
- Retail mCommerce Sales as % of Retail eCommerce Sales Worldwide for the Years 2016, 2018, 2020 & 2022
- 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
4. GLOBAL MARKET PERSPECTIVE
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/sbs6n4
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Research and Markets
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SOURCE Research and Markets
