Global Travel Insurance Market 2024-2028
The travel insurance market is forecasted to grow by USD 12071 mn during 2023-2028, accelerating at a CAGR of 10.24% during the forecast period. The report on the travel insurance market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing tourism and business travels, new technological developments, and growing demand for travel insurance.
Technavio's travel insurance market is segmented as below:
- By End-user
- Senior citizens
- Business travel
- Family travel
- Others
- By Type
- General travel insurance
- Premium travel insurance
- By Geographical Landscape
- North America
- Europe
- APAC
- Middle East and Africa
- South America
This study identifies the insurance for unconventional expenses as one of the prime reasons driving the travel insurance market growth during the next few years. Also, rapid growth of cyber insurance software and new distribution channels will lead to sizable demand in the market.
The report on the travel insurance market covers the following areas:
- Travel insurance market sizing
- Travel insurance market forecast
- Travel insurance market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading travel insurance market vendors that include Allianz SE, American Express Co., American International Group Inc., Arch Capital Group Ltd., Assicurazioni Generali S.p.A., Aviva insurance Ltd., AXA Group, Berkshire Hathaway Inc., British United Provident Association Ltd., Chester Perfetto Agency Inc., Chubb Ltd., Fairfax Financial Holdings Ltd., HanseMerkur Reiseversicherung AG, HDFC Ltd., MAPFRE S.A., Seven Corners Inc., SiriusPoint Ltd., Sun Life Financial Inc., The Goldman Sachs Group Inc., and Zurich Insurance Co. Ltd.. Also, the travel insurance market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.