India Entertainment Insurance Market - By Insurance (Production Insurance, Staging & Rigging Insurance, Special Event Insurance, Touring Insurance); By Coverages (Liability Coverage, Commercial Property Coverages); By Distribution Channel (Brokers, Non-Brokers); By End User (Business, Individuals); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
India Entertainment Insurance Market Size More Than Doubles at Robust CAGR of 16.13% to Reach USD 336 Million by 2029
India entertainment insurance market is rapidly growing due to the thriving entertainment industry, increasing production budgets, rising demand for comprehensive coverage against potential risks and liabilities, and the growing awareness among production companies about the benefits of insurance in safeguarding their projects.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated India entertainment insurance market size at USD 118.51 billion in 2022. During the forecast period between 2023 and 2029. India entertainment insurance market size to grow at a robust CAGR of 16.13% reaching a value of USD 335.77 million by 2029. The India entertainment insurance market refers to the insurance business segment that focuses on providing coverage and risk management solutions to the Indian entertainment industry. The market serves a wide range of the entertainment industry segments, including film production, television, live events, music concerts, theaters, and others. In India, entertainment insurance coverage usually covers risks including production delays, equipment damage, public responsibility, and personal accidents. The market has grown in recent years, owing to the rise of India's entertainment industry and growing awareness among stakeholders about the significance of insurance coverage. Insurance firms provide specialized coverage to manage the unique risks that the entertainment industry faces, assuring its long-term growth and protection against unforeseen catastrophes.
India Entertainment Insurance Market – Overview
A specialized form of insurance coverage known as "entertainment insurance" is created to shield those working in the entertainment sector from a variety of risks and obligations. Events, productions, performances, and other entertainment-related activities are financially protected. Various possible hazards, including property damage, equipment loss or theft, production delays, liability claims, and even cancellation due to unanticipated events are often covered by entertainment insurance. Producers, performers, event planners, and other professionals working in the entertainment business should feel secure knowing that this sort of insurance is specifically designed to address the special requirements and challenges of the sector.
Impact of COVID-19 on India Entertainment Insurance Market
The COVID-19 pandemic adversely affected the entertainment industry. Consequently, it also negatively impacted causing significant disruption and uncertainty within the industry. With the enforced lockdowns, social distancing measures, and the suspension of film, television, and live event productions, the demand for entertainment insurance plummeted. Production delays and cancellations left insurers grappling with mounting claims, leading to heightened caution and stricter underwriting practices. Insurers also revised policy terms and premiums, reflecting the increased risk associated with pandemic-related disruptions. As the industry gradually recovers and adapts to the new normal, the long-term effects of the pandemic on the entertainment insurance market in India remain uncertain, requiring the industry to navigate uncharted waters.
India Entertainment Insurance Market – By Distribution Channel
On the basis of distribution channels, India entertainment insurance market is split into Brokers and Non-Brokers segments. These segments play a crucial role in providing insurance solutions to the entertainment industry. The brokers segment refers to insurance intermediaries or agents who act as intermediaries between entertainment companies and insurance providers. They assist in analyzing risks, negotiating policies, and securing suitable insurance coverage for their clients. On the other hand, the non-brokers segment encompasses entertainment companies or organizations that directly engage with insurance providers without the involvement of intermediaries. While both segments contribute to the overall growth of the entertainment insurance market in India, the brokers segment is generally larger in scale and serves as a primary channel for insurance transactions and advisory services in the industry.
Competitive Landscape
India entertainment insurance market is fiercely competitive. Major companies in the market include Allianz, Allen Financial Insurance Group, AXA XL Chubb, Everest Re Group, Ltd, Gallagher, Hub International, Insurance Canopy, Marsh LLC, MFE INSURANCE BROKER, and Next Insurance, Inc. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in India entertainment insurance market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of India Entertainment Insurance Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Entertainment Insurance Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. India Smart Ceiling Fans Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Growing preference for convenient residential products
- 3.2.1.2. Increasing smart features in ceiling fans
- 3.2.2. Restraints
- 3.2.2.1. High cost of smart ceiling fans
- 3.2.2.2. Availability of substitute product
- 3.2.3. Opportunity
- 3.2.3.1. Increasing demand for smart devices
- 3.2.3.2. Growing customer preferences shifting toward employing new technologies
- 3.2.4. Challenges
- 3.2.4.1. High requirement for proper maintenance
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter’s Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
- 4. India Smart Ceiling Fans Market Overview
- 4.1. Market Size & Forecast by Value & Volume, 2019–2029
- 4.1.1. By Value (USD Million)
- 4.2. Market Share & Forecast
- 4.2.1. By Connectivity Type
- 4.2.1.1. Bluetooth
- 4.2.1.2. Wi-Fi
- 4.2.1.3. Others
- 4.2.2. By Sweep Size
- 4.2.2.1. Less than 500 mm
- 4.2.2.2. 500–999 mm
- 4.2.2.3. 1000–1500 mm
- 4.2.2.4. More than 1500 mm
- 4.2.3. By Application
- 4.2.3.1. Residential
- 4.2.3.2. Commercial
- 4.2.4. By Distribution Channel
- 4.2.4.1. Offline
- 4.2.4.2. Online
- 5. India Smart Ceiling Fans Market Overview
- 5.1. Market Size & Forecast by Value & Volume, 2019–2029
- 5.1.1. By Value (USD Million)
- 5.2. Market Share & Forecast
- 5.2.1. By Connectivity Type
- 5.2.2. By Sweep Size
- 5.2.3. By Application
- 5.2.4. By Distribution Channel
- 6. Competitive Landscape
- 6.1. List of Key Players and Their Offerings
- 6.2. India Smart Ceiling Fans Company Market Share Analysis, 2022
- 6.3. Competitive Benchmarking, By Operating Parameters
- 6.4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
- 7. Impact of Covid-19 on India Smart Ceiling Fans Market
- 8. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
- 8.1. Orient Electric
- 8.2. Atomberg Technologies
- 8.3. Crompton Greaves Consumer Electricals
- 8.4. Havells India
- 8.5. Usha International
- 8.6. Luxaire
- 8.7. Polycab India Limited
- 8.8. Superfan
- 8.9. ACTIVA Appliances
- 8.10. Versa Drives Private Limited
- 8.11. Surya Roshni Limited
- 8.12. Panasonic India Pvt Ltd
- 8.13. Bajaj Electricals Limited
- 8.14. Other Prominent Players
- 9. Key Strategic Recommendations
- 10. Research Methodology
- 10.1. Qualitative Research
- 10.1.1. Primary & Secondary Research
- 10.2. Quantitative Research
- 10.3. Market Breakdown & Data Triangulation
- 10.3.1. Secondary Research
- 10.3.2. Primary Research
- 10.4. Breakdown of Primary Research Respondents, By Region
- 10.5. Assumption & Limitation
- *Financial information in case of non-listed companies will be provided as per availability
- **The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
- List of Figures
- Figure 1 India Smart Ceiling Fans Market Segmentation
- Figure 2 India Smart Ceiling Fans Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2022
- Figure 4 India Smart Ceiling Fans Market Size, By Value (USD Billion), 2019–2029
- Figure 5 India Smart Ceiling Fans Market Share, By Connectivity Type, By Value, 2019–2029
- Figure 6 India Smart Ceiling Fans Market Share, By Sweep Size, By Value, 2019–2029
- Figure 7 India Smart Ceiling Fans Market Share, By Application, By Value, 2019–2029
- Figure 8 India Smart Ceiling Fans Market Share, By Distribution Channel, By Value, 2019–2029
- List of Tables
- Table 1 India Smart Ceiling Fans Market Size, By Connectivity Type, By Value, 2019–2029
- Table 2 India Smart Ceiling Fans Market Size, By Sweep Size, By Value, 2019–2029
- Table 3 India Smart Ceiling Fans Market Size, By Application, By Value, 2019–2029
- Table 4 India Smart Ceiling Fans Market Size, By Distribution Channel, By Value, 2019–2029
- Table 5 Orient Electric Company Overview
- Table 6 Orient Electric Financial Overview
- Table 7 Atomberg Technologies Company Overview
- Table 3 Atomberg Technologies Financial Overview
- Table 4 Crompton Greaves Consumer Electricals Company Overview
- Table 5 Crompton Greaves Consumer Electricals Financial Overview
- Table 6 Havells India Company Overview
- Table 7 Havells India Financial Overview
- Table 8 Usha International Company Overview
- Table 9 Usha International Financial Overview
- Table 10 Luxaire Company Overview
- Table 11 Luxaire Financial Overview
- Table 12 Polycab India Limited Company Overview
- Table 13 Polycab India Limited Financial Overview
- Table 14 Superfan Company Overview
- Table 15 Superfan Financial Overview
- Table 16 ACTIVA Appliances Company Overview
- Table 17 ACTIVA Appliances Financial Overview
- Table 18 Versa Drives Private Limited Company Overview
- Table 19 Versa Drives Private Limited Financial Overview
- Table 20 Surya Roshni Limited Company Overview
- Table 21 Surya Roshni Limited Financial Overview
- Table 22 Panasonic India Pvt Ltd Company Overview
- Table 23 Panasonic India Pvt Ltd Financial Overview
- Table 24 Bajaj Electricals Limited Company Overview
- Table 25 Bajaj Electricals Limited Financial Overview
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook