Global Travel Insurance Market Size, Share, Growth Analysis, By Type, By Distribution Channel, By End-user

Description

Global Travel Insurance Market size was valued at USD 17.8 billion in 2021 and is poised to grow from USD 20.32 billion in 2022 to USD 63.9 billion by 2030, growing at a CAGR of 15.4% in the forecast period (2023-2030).

The global travel insurance market is a rapidly growing industry that provides coverage for unexpected events that may occur during travel, such as trip cancellations, medical emergencies, and lost baggage. The market is driven by an increase in international travel, growing awareness of the importance of travel insurance, and advancements in technology that have made it easier to purchase policies online. Major players in the market include insurance companies, travel agencies, and online travel booking platforms. The market is expected to continue its growth trajectory in the coming years.

Top-down and bottom-up approaches were used to estimate and validate the size of Travel Insurance and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report:

The Global Travel Insurance Market is segmented on the basis of Type, Distribution Channel, End-user, and Region. Based on Type, the market is segmented into Single-Trip Travel Insurance, Annual Multi-Trip Travel Insurance. Based on Distribution Channel, the market is segmented into Insurance Intermediaries, Insurance Companies, Banks, Insurance Brokers, Insurance Aggregators. Based on End-user, the market is segmented into Senior Citizens, Education Travelers, Business Travelers, Family Travelers, Others. Based on region, the global Travel Insurance market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Driver

The rise of global tourism has significantly contributed to the expansion of the travel insurance industry. The growth in tourism can be attributed to the rise in disposable income and promotional efforts by tour and travel companies. However, the occurrence of natural disasters, the likelihood of lost luggage, and medical emergencies have increased the risks associated with travel, further fueling the demand for travel insurance during the analysis period.

Restrain

One significant factor hindering the growth of the travel insurance market is the limited understanding among customers regarding the benefits and coverage options available to them, which results in their reluctance to opt for such insurance. This lack of knowledge leads to a lower adoption rate of travel insurance.

Trend

During the analysis period, the travel insurance market is anticipated to expand as a result of government initiatives to increase demand for the tourism industry and corporations' efforts to offer travel protection to their employees during business trips, with the aim of ensuring their safety.

Product Code: SQSG40D2003

Executive Summary

Market Overview
Wheel of Fortune
Research Methodology
Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
Drivers
Opportunities
Restraints
Challenges
Key Market Insights
Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition
Market Dynamics & Outlook
Market Dynamics
Drivers
Opportunities
Restraints
Challenges
Regulatory Landscape
Porters Analysis
Competitive rivalry
Threat of Substitute Products
Bargaining Power of Buyers
Threat of New Entrants
Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
Political Impact
Economic Impact
Social Impact
Technical Impact
Environmental Impact
Legal Impact

Global Travel Insurance Market by Type

Market Overview
Single-Trip Travel Insurance
Annual Multi-Trip Travel Insurance
Global Travel Insurance Market by Distribution Channel
Market Overview
Insurance Intermediaries
Insurance Companies
Banks
Insurance Brokers
Insurance Aggregators
Global Travel Insurance Market by End-user
Market Overview
Senior Citizens
Education Travelers
Business Travelers
Family Travelers
Others
Global Travel Insurance Market Size by Region
Market Overview
North America
USA
Canada
Europe
Germany
Spain
France
UK
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East & Africa (MEA)
GCC Countries
South Africa
Rest of MEA
Competitive Landscape
Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies
By Development
By Company
By Year
Recent Activities in the Market
Key Companies Market Share (%), 2021
Key Company Profiles
Allianz Partners (France)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
AIG Travel Guard
Company Overview
Business Segment Overview
Financial Updates
Key Developments
AXA Assistance USA
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Berkshire Hathaway Travel Protection
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Chubb Travel Insurance
Company Overview
Business Segment Overview
Financial Updates
Key Developments
CSA Travel Protection
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Generali Global Assistance
Company Overview
Business Segment Overview
Financial Updates
Key Developments
GeoBlue
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Global Rescue
Company Overview
Business Segment Overview
Financial Updates
Key Developments
HTH Worldwide
Company Overview
Business Segment Overview
Financial Updates
Key Developments
IMG Travel Insurance
Company Overview
Business Segment Overview
Financial Updates
Key Developments
InsureandGo
Company Overview
Business Segment Overview
Financial Updates
Key Developments
John Hancock Travel Insurance
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Nationwide Mutual Insurance Company
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Seven Corners
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Squaremouth
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Travel Insured International
Company Overview
Business Segment Overview
Financial Updates
Key Developments
TravelSafe Insurance
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Travelex Insurance Services
Company Overview
Business Segment Overview
Financial Updates
Key Developments
World Nomads Group
Company Overview
Business Segment Overview
Financial Updates
Key Developments

Global Travel Insurance Market Size, Share, Growth Analysis, By Type, By Distribution Channel, By End-user - Industry Forecast 2023-2030

Description

Table of Contents

Table of Contents

Executive Summary

Parent Market Analysis

Global Travel Insurance Market by Type