[January 19, 2023]

The Worldwide P&C Insurance Software Industry is Estimated to Reach $28.5 Billion by 2031 at a 9.6% CAGR - ResearchAndMarkets.com

The "P&C Insurance Software Market By Component, By Deployment Model, By Application: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.

According to this report the p&c insurance software market was valued at $11.6 billion in 2021, and is estimated to reach $28.5 billion by 2031, growing at a CAGR of 9.6% from 2022 to 2031.

The public cloud is an IT model in which a third-party provider manages on-demand computing services and infrastructure that is shared across multiple organizations via the public Internet. The public cloud makes computing resources available for purchase by anyone. In addition, a public cloud is typically shared by multiple users., whereas, a private cloud, on the other hand, refers to cloud-based services that are hosted within an organization.

An increase in digital transformation among industries and rising penetration of internet & mobile devices across the world are boosting the growth of the global P&C Insurance software market size. In addition, the growing need for finance among businesses and individuals to insure property positively impacts the growth of the market.

However, enforcement of strong rules by banks and financial institutions for providing housing finance is hampering the P&C Insurance software market growth. On the contrary, the rise in prices of real estate properties in developng countries and the acceleration of metropolitan cities across the globe is expected to offer remunerative opportunities for expansion of the P&C Insurance software market during the forecast period.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the p&c insurance software market analysis from 2021 to 2031 to identify the prevailing p&c insurance software market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the p&c insurance software market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global p&c insurance software market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Component

• Software
• Service

By Deployment Model

• On Premise
• Cloud

By Application

• Claims
• Underwriting
• Operations
• Others

By Region

• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Italy
• Spain
• Netherlands
• Rest Of Europe
• Asia-Pacific
• China
• Japan
• South Korea
• India
• Australia
• Rest Of LAMEA
• LAMEA
• Latin America
• Middle East
• Africa

Key Market Players

• Agency Software, Inc.
• ClarionDoor
• Duck Creek Technologies
• Guidewire Software, Inc.
• InsuredMine
• PCMS Software
• Pegasystems Inc.
• Quick Silver Systems, Inc.
• WTW
• Zywave, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/2x2wek

View source version on businesswire.com: https://www.businesswire.com/news/home/20230119005671/en/

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