(MENAFN- EIN Presswire) Travel Insurance Market
PORTLAND, OREGAON, UNITED STATES, May 30, 2023/einpresswire.com / -- According to the report, the global travel insurance market was valued at $14.2 billion in 2021, and is projected to reach $124.8 billion by 2031, growing at a CAGR of 24.7% from 2022 to 2031.
The global travel insurance market report provides the detailed market share, size, and the growth rate of various segments at both the country and regional levels. It includes an in-depth study of the market subtleties such as the current trends, drivers, restraints, and opportunities. The report also highlights the qualitative aspects in the study. The study provides Porter's five forces analysis to understand the impact of various factors, such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers, on the travel insurance market.
Furthermore, the market report involves the competitive landscape containing the profiles of top ten key players in the industry. The companies have been thoroughly analyzed on the basis of their revenue size, regional presence, product/service portfolio, major plans & policies, and overall contribution to the growth of the market.
Download Free Sample PDF@
Covid-19 Scenario:
The outbreak of the COVID-19 pandemic impeded the growth of the global travel insurance market in the first half of 2020, owing to strict lockdown measures enforced by the government. Travel and tourism are among the most affected industries due to the unprecedented global health, social, and economic emergency caused by the COVID-19 pandemic. The number of domestic and international tourists significantly decreased in 2020. The market gained traction in the second half of 2020 after the gradual relaxation of the lockdowns imposed. The market has a huge scope to gather exponential growth in the post-pandemic.
Key Market Segments:
The global travel insurance market is segmented on the basis of insurance cover, distribution channel, end user, age group, and region. By insurance cover, it is segmented into single-trip travel insurance, annual multi-trip travel insurance, and long-stay travel insurance. By distribution channel, the market is divided into insurance intermediaries, insurance companies, banks, insurance brokers, and insurance aggregators. By end user, it is bifurcated into senior citizens, education travelers, business travelers, family travelers, and others. By age group, it is segregated into 1-17 years old, 18-30 years old, 31-49 years old, and above 50. By region, it is analyzed across North America, Europe, Asia Pacific, and LAMEA.
Buy this Report@
Key Market Players:
The report analyzes the profiles of key players operating in the global travel insurance market such as American International Group, Inc., Assicurazioni Generali S.P.A., Aviva, AXA, Zurich, Just Travel Cover, PassportCard, Trailfinders Ltd., Staysure, and Insurefor.com. The report provides a detailed analysis of key market players operating in the global travel insurance market. They adopted numerous strategies such as new product launches, collaborations, business expansion, partnerships, mergers and acquisitions, joint ventures, and more in order to stay competitive in the market.
Related Reports:
Asset-Based Lending Market
Auto Finance Market
Umbrella Insurance Market
B2C Payments Market
Alternative Financing Market
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Analytics LLP
+ 1-800-792-5285
email us here