Market Research Report
|Published by||Global Industry Analysts, Inc.||Product code||997669|
|Published||Content info||233 Pages
Delivery time: 1-2 business days
|Published: April 1, 2021||Content info: 233 Pages||
Global Insurtech Market to Reach $1.6 Billion by 2027
Amid the COVID-19 crisis, the global market for Insurtech estimated at US$586.4 Million in the year 2020, is projected to reach a revised size of US$1.6 Billion by 2027, growing at aCAGR of 15.5% over the period 2020-2027. Software, one of the segments analyzed in the report, is projected to record 16.1% CAGR and reach US$749.3 Million 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 Services segment is readjusted to a revised 15% CAGR for the next 7-year period.
The U.S. Market is Estimated at $173.5 Million, While China is Forecast to Grow at 14.9% CAGR
The Insurtech market in the U.S. is estimated at US$173.5 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$278.8 Million by the year 2027 trailing a CAGR of 14.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13.8% and 13.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 11.3% CAGR.
Select Competitors (Total 53 Featured) -