Dublin, Aug. 09, 2023 (GLOBE NEWSWIRE) -- The "Global Insurance Analytics Market Outlook 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The Global Insurance Analytics Market is experiencing rapid growth, with estimations reaching USD 17.17 billion in 2022 and USD 19.7 billion in 2023. The market is expected to maintain a Compound Annual Growth Rate (CAGR) of 15.17% during the forecast period, reaching USD 53.18 billion by 2030. Several factors, such as the rising adoption of data-driven decision-making technologies, the expansion of digital infrastructure, and growing demand for IoT insurance, are driving this growth. However, challenges related to integrating insurance platforms with legacy systems and concerns over data security and privacy pose restraints to market expansion.
Market Dynamics
Drivers:
- Data-Driven Decision Making: Insurance companies are increasingly adopting data-driven technologies to make informed decisions and enhance their operations.
- Digital Infrastructure and Fraud Prevention: The expansion of digital infrastructure has enabled insurance companies to combat fraudulent activities more effectively.
- Growing Demand for IoT Insurance: The rising adoption of IoT devices in the insurance sector is driving demand for analytics solutions.
Restraints:
- Integration Challenges: Difficulty in integrating insurance platforms with existing legacy systems hinders seamless adoption.
Opportunities:
- Cloud-Based Solutions: The emergence of cloud-based digital insurance solutions offers promising growth opportunities.
- Data-Driven Technology Innovation: Innovations in data-driven technology are transforming the insurance analytics landscape.
Challenges:
- Data Security and Privacy Concerns: Insurance analytics platforms face challenges in ensuring data security and protecting user privacy.
Market Segmentation & Coverage
The report categorizes the Global Insurance Analytics Market based on application, end-user, deployment mode, organization size, and region. The segments include Claims Management, Customer Management and Personalization, Process Optimization, Risk Management, Brokers & Consultancies, Government Agencies, Insurance Companies, Third-party Administrators, On-Cloud, On-Premises, Large Enterprises, Small and Medium-Sized Enterprises, and Americas, Asia-Pacific, and Europe, Middle East & Africa.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 199 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $19.7 Billion |
| Forecasted Market Value (USD) by 2030 | $53.18 Billion |
| Compound Annual Growth Rate | 15.1% |
| Regions Covered | Global |
Key Topics Covered
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Insurance Analytics Market, by Application
7. Insurance Analytics Market, by End-user
8. Insurance Analytics Market, by Deployment Mode
9. Insurance Analytics Market, by Organization Size
10. Americas Insurance Analytics Market
11. Asia-Pacific Insurance Analytics Market
12. Europe, Middle East & Africa Insurance Analytics Market
13. Competitive Landscape
14. Competitive Portfolio
15. Appendix
Companies Mentioned
- Applied Systems
- Arceo.AI
- Artivatic.AI
- Board International
- Bridgei2I
- CyberCube
- Guidewire Software
- Habit Analytics
- Hexaware Technologies
- IBM
- InsuredMine
- Lexisnexis Risk Solutions
- Microsoft
- MicroStrategy
- OpenText
- Oracle
- PegaSystems
- Pentation Analytics
- Qlik
- Refocus AI
- Riskville
- Salesforce
- SAP
- Sapiens
- SAS Institute
- Tibco
- Verisk Analytics
- Vertafore
- WNS
For more information about this report visit https://www.researchandmarkets.com/r/7w3vaz
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