Market Research Report
Published: April 1, 2021
Global Industry Analysts, Inc.
Content info: 184 Pages
Delivery time: 1-2 business days
Global Bancassurance Market to Reach $1.5 Trillion by 2027
Amid the COVID-19 crisis, the global market for Bancassurance estimated at US$1.1 Trillion in the year 2020, is projected to reach a revised size of US$1.5 Trillion by 2027, growing at aCAGR of 4.6% over the period 2020-2027. Life Bancassurance, one of the segments analyzed in the report, is projected to record 4.2% CAGR and reach US$1.2 Trillion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Non-Life Bancassurance segment is readjusted to a revised 5.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $306.5 Billion, While China is Forecast to Grow at 7% CAGR
The Bancassurance market in the U.S. is estimated at US$306.5 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$311.6 Billion by the year 2027 trailing a CAGR of 7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.5% and 4.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.8% CAGR.
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