Travel Insurance Market Set to Witness Explosive Growth by 2029

Travel Insurance Market

Travel Insurance Market size was valued at USD 21.46 Bn. in 2022 and the total Travel Insurance revenue is expected to grow by 16 % from 2022 to 2029, reaching nearly USD 21 Bn.

Travel Insurance Market Overview:

Maximize Market Research (MMR) has published a comprehensive report on the Travel Insurance Market. This report delves into the growth projections for the Travel Insurance Market from 2018 to 2022. It offers valuable insights into market dynamics, including market value, growth rate, market segments, geographical reach, key market players, and their recent developments.

Travel Insurance Market Report Scope and Research Methodology:

The Travel Insurance Market report encompasses a thorough analysis of significant developments, marketing strategies, supply-side and demand-side indicators, as well as detailed company profiles of market leaders, potential entrants, and emerging players. The report relies on both primary and secondary research methodologies to provide an exhaustive analysis of the global alginates & derivatives market.

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Segmentation Analysis:

by Insurance Coverage

• Single-trip Travel Insurance
• Annual Multi-trip Travel Insurance
• Long-stay Travel Insurance

The market is segmented into three segments based on the kind of insurance coverage: long-stay travel insurance, yearly multi-trip travel insurance, and single-trip travel insurance. With a market share of 60.1%, the single-trip travel insurance segment led the market and is predicted to expand at the quickest rate of 16.0% CAGR over the projection period.

by Distribution Channel

• Insurance Intermediaries
• Insurance Companies
• Banks
• Insurance Brokers
• Insurance Aggregators

The market is separated into insurance aggregators, banks, insurance brokers, insurance firms, and insurance intermediaries based on the distribution channels. With 34.8% of total revenue in 2021, the insurance firms segment led the market and is predicted to continue in that position for the duration of the projection.

by End-Users

• Education Travelers
• Business Travelers
• Senior Citizens
• Family Travelers
• Others

The market is segmented into end-user categories based on the end-users, including senior citizens, families, business travelers, and travelers on education. The other sub-segment similarly includes both individuals and groups. With USD 5,805.5 million in sales in 2022, the senior citizen sector was the most lucrative. Over the course of the forecast period, it is anticipated to rise at a CAGR of 13.9%.

Table of Content: Travel Insurance Market

Part 01: Executive Summary

Part 02: Scope of the Travel Insurance Market Report

Part 03: Global Travel Insurance Market Landscape

Part 04: Global Travel Insurance Market Sizing

Part 05: Global Travel Insurance Market Segmentation

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

Key Players are:

• American International Group, Inc.
• USI Insurance Services, LLC
• battleface
• Insure & Go Insurance Services Limited
• Seven Corners Inc.
• Travel Insured International
• Zurich
• Delphi Financial Group, Inc.
• Ping An Insurance (Group) Company of China, Ltd.
• Allianz Group
• Munchener-Ruck-Gruppe
• Talanx Konzern
• R+V Konzern
• Generali Deutschland AG
• AXA Konzern AG
• Bayern
• Huk-Coburg
• Signal Iduna
• Travelex Insurance Services Inc.
• Berkshire Hathaway Travel Protection

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Key Questions Addressed in Travel Insurance Market Report:

  1. What is the projected size of the Travel Insurance Market by 2029?
  2. What is the anticipated growth rate of the Travel Insurance Market?
  3. What factors are expected to fuel the growth of the Travel Insurance Market?
  4. Which segment has dominated the growth of the Travel Insurance Market?
  5. Which region boasts the largest share in the Travel Insurance Market?

Regional Insights:

This report provides region-specific insights into the Travel Insurance Market, covering North America, Europe, Asia Pacific, South America, and the Middle East and Africa. Notably, the Asia Pacific region is poised to spearhead the Travel Insurance Market’s growth due to the increasing demand for Travel Insurance across various applications, particularly in China, Japan, and India.

Key Offerings:

  • Historical Market Size and Competitive Landscape (2018 to 2022)
  • Previous Pricing and Price Trends by Region (2018 to 2022)
  • Market Size, Share, and Forecast by Different Segments | 2023−2029
  • Market Dynamics, including Growth Drivers, Restraints, Opportunities, and Key Trends by Region
  • Detailed Market Segmentation Analysis, including Sub-segments and Regional Breakdown
  • Competitive Landscape, featuring Profiles of Selected Key Players by Region from a Strategic Perspective
  • Competitive Benchmarking of Key Players by Region
  • PESTLE Analysis
  • PORTER’s Analysis
  • Value Chain and Supply Chain Analysis
  • Legal Aspects of Business by Region
  • Lucrative Business Opportunities with SWOT Analysis
  • Recommendations

About Maximize Market Research:

Maximize Market Research is a versatile market research and consulting company staffed with professionals from various industries. We cover a wide range of sectors, including medical devices, pharmaceuticals, science and engineering, electronic components, industrial equipment, technology and communication, automotive, chemicals, general merchandise, beverages, personal care, and automation systems. Our services include market-verified industry estimations, technical trend analysis, crucial market research, strategic guidance, competitive analysis, production and demand assessment, and client impact studies.

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