The Worldwide Insurance Analytics Industry is Expected to Reach $15.9 Billion by 2027 - ResearchAndMarkets.com
The "Insurance Analytics - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Insurance Analytics estimated at US$7.3 Billion in the year 2020, is projected to reach a revised size of US$15.9 Billion by 2027, growing at a CAGR of 11.8% over the analysis period 2020-2027.
Claims Management, one of the segments analyzed in the report, is projected to record a 11.8% CAGR and reach US$5.3 Billion 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 Risk Management segment is readjusted to a revised 12.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.1 Billion, While China is Forecast to Grow at 11.3% CAGR
The Insurance Analytics market in the U.S. is estimated at US$2.1 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$2.8 Billion by the year 2027 trailing a CAGR of 11.3% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.3% and 10% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.6% CAGR.
Customer Management and Personalization Segment to Record 11.1% CAGR
In the global Customer Management and Personalization segment, USA, Canada, Japan, Chia and Europe will drive the 10.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.1 Billion in the year 2020 will reach a projected size of US$2.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.
Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.9 Billion by the year 2027.
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Key Topics Covered:
II. EXECUTIVE SUMMARY
III. MARKET ANALYSIS
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