Dublin, March 12, 2024 (GLOBE NEWSWIRE) -- The "Global Automotive Insurance Market (2023-2028) Competitive Analysis, Impact of COVID-19, Impact of Economic Slowdown & Impending Recession, Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Automotive Insurance Market is estimated to be USD 1026.16 Bn in 2023 and is expected to reach USD 1547.26 Bn by 2028 growing at a CAGR of 8.56%.
Market Dynamics
Market dynamics are forces that impact the prices and behaviors of the stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.
As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding the growth and reducing the risks.
Market Segmentations
- The Global Automotive Insurance Market is segmented based on Coverage, Vehicle Type, Vehicle Age, Distribution Channel, and Geography.
- By Coverage, the market is classified into Third-Party Liability Coverage and Collision/ Comprehensive/ Other Optional Coverage.
- By Vehicle Type, the market is classified into HCV, LCV, and Passenger Cars.
- By Vehicle Age, the market is classified into New Vehicles and Used Vehicles.
- By Distribution Channel, the market is classified into Individual Agents & Brokers, Banks, and Online.
- By Geography, the market is classified into Americas, Europe, Middle-East & Africa, and Asia-Pacific.
Competitive Quadrant
The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Ansoff Analysis
- The report presents a detailed Ansoff matrix analysis for the Global Automotive Insurance Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
- The publisher analyses the Global Automotive Insurance Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
- Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.
Report Highlights:
- A complete analysis of the market, including parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 189 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $1026.16 Billion |
| Forecasted Market Value (USD) by 2028 | $1547.26 Billion |
| Compound Annual Growth Rate | 8.5% |
| Regions Covered | Global |
Companies Mentioned
- Admiral Group PLC
- Allstate Insurance Co.
- Bajaj Allianz General Insurance Co. Ltd.
- China Pacific Insurance Co.
- Chubb Group
- GEICO
- HDFC ERGO General Insurance Co. Ltd.
- ICICI Lombard General Insurance Co. Ltd.
- Kotak Mahindra Bank Ltd.
- Liberty Mutual Insurance Co.
- Nationwide Mutual Insurance Co.
- PhonePe Pvt. Ltd.
- Reliance General Insurance Co. Ltd.
- State Farm Mutual Automobile Insurance Co.
- Tata AIG General Insurance Co. Ltd.
- The Generali Group
- The New India Assurance Co. Ltd.
- The Oriental Insurance Co. Ltd.
- Tokio Marine Group
- United India Insurance Co. Ltd.
- Zurich Insurance Group Ag
For more information about this report visit https://www.researchandmarkets.com/r/e9zufc
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