Business Travel Insurance Market Research 2021: Key Growth Factors and Opportunity Analysis by 2030

Business Travel Insurance Market Research 2021: Key Growth Factors and Opportunity Analysis by 2030

NEW CASTLE, DE, UNITED STATES, December 24, 2024 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global business travel insurance market was estimated at $3.61 billion in 2020 and is expected to hit $20.19 billion by 2030, registering a CAGR of 19.2% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.

The fact that business travel insurance provides immediate coverage for personal belongings & business equipment and offers the much-needed security against damage fuels the growth of the global business travel insurance market. On the other hand, lack of awareness among business owners toward travel insurance policy impedes the growth to some extent. However, increase in spending of business on different types of insurance and adoption of digital tools, such as artificial intelligence (AI), application program interface (API), global positioning system (GPS), and data analytics for delivering affordable insurance policy are expected to provide lucrative opportunities for the market growth.

📚 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/3079

COVID-19 Scenario:

The uncertainties in travel rules & dictums led to a steep decline in the number of business travel plans across the globe, which impacted the global business travel insurance market badly.
However, the global situation is getting ameliorated slowly & steadily, and the market is projected to revive soon.
The global business travel insurance industry is analyzed across coverage type, distribution channels, application, and region. Based on coverage type, the multi-trip travel insurance segment accounted for nearly three-fifths of the total market share in 2020, and is expected to rule the roost by 2030. The same segment would also garner the fastest CAGR of 20.0% throughout the forecast period.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/3079

Based on distribution channel, the insurance intermediaries segment contributed to more than one-fourth of the total market revenue in 2020, and is projected to lead the trail by 2030. The insurance aggregators segment, on the other hand, would exhibit the fastest CAGR of 25.0% during the forecast period.

Based on region, the market across Europe held the major share in 2020, garnering more than one-third of the global market. Simultaneously, the Asia-Pacific region would manifest the fastest CAGR of 21.2% throughout the forecast period. The other provinces discussed in the report include North America and LAMEA.

𝐈𝐟 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐚𝐧𝐲 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐫𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬, 𝐫𝐞𝐪𝐮𝐞𝐬𝐭 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧@ https://www.alliedmarketresearch.com/request-for-customization/3079

The key market players analyzed in the global business travel insurance market report include American International Group Inc., Zurich, Assicurazioni Generali S.P.A., USI Insurance Services LLC, AXA, Chubb, Allianz, Nationwide, Seven Corners Inc., and TravelSafe. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.

Key Findings of the Study

By coverage type, the multi-trip travel insurance coverage is expected to attain significant growth during the forecasted period.
Region wise, Europe generated the highest revenue in 2020.
On the basis of application, the domestic traveler segment dominated the business travel insurance market, in terms of revenue generation, in 2020.

𝑫𝒆𝒑𝒆𝒏𝒅𝒊𝒏𝒈 𝒐𝒏 𝒄𝒐𝒗𝒆𝒓𝒂𝒈𝒆 𝒕𝒚𝒑𝒆, 𝒕𝒉𝒆 𝒎𝒖𝒍𝒕𝒊-𝒕𝒓𝒊𝒑 𝒕𝒓𝒂𝒗𝒆𝒍 𝒊𝒏𝒔𝒖𝒓𝒂𝒏𝒄𝒆 𝒔𝒆𝒈𝒎𝒆𝒏𝒕 𝒊𝒔 𝒆𝒙𝒑𝒆𝒄𝒕𝒆𝒅 𝒕𝒐 𝒆𝒙𝒑𝒆𝒓𝒊𝒆𝒏𝒄𝒆 𝒔𝒊𝒈𝒏𝒊𝒇𝒊𝒄𝒂𝒏𝒕 𝒈𝒓𝒐𝒘𝒕𝒉 𝒊𝒏 𝒕𝒉𝒆 𝒄𝒐𝒎𝒊𝒏𝒈 𝒚𝒆𝒂𝒓𝒔, 𝒐𝒘𝒊𝒏𝒈 𝒕𝒐 𝒈𝒓𝒐𝒘𝒊𝒏𝒈 𝒏𝒆𝒆𝒅 𝒐𝒇 𝒎𝒖𝒍𝒕𝒊-𝒕𝒓𝒊𝒑 𝒕𝒓𝒂𝒗𝒆𝒍 𝒊𝒏𝒔𝒖𝒓𝒂𝒏𝒄𝒆 𝒂𝒎𝒐𝒏𝒈 𝒕𝒉𝒆 𝒃𝒖𝒔𝒊𝒏𝒆𝒔𝒔 𝒇𝒐𝒓 𝒓𝒆𝒅𝒖𝒄𝒊𝒏𝒈 𝒕𝒉𝒆 𝒄𝒐𝒔𝒕 𝒐𝒇 𝒅𝒂𝒎𝒂𝒈𝒆𝒔 𝒊𝒏 𝒗𝒂𝒓𝒊𝒐𝒖𝒔 𝒊𝒏𝒕𝒆𝒓𝒏𝒂𝒕𝒊𝒐𝒏𝒂𝒍 𝒂𝒏𝒅 𝒅𝒐𝒎𝒆𝒔𝒕𝒊𝒄 𝒕𝒐𝒖𝒓𝒔 𝒐𝒇 𝒕𝒉𝒆𝒊𝒓 𝒆𝒎𝒑𝒍𝒐𝒚𝒆𝒆𝒔. 𝑰𝒏 𝒂𝒅𝒅𝒊𝒕𝒊𝒐𝒏 𝒃𝒖𝒔𝒊𝒏𝒆𝒔𝒔 𝒕𝒓𝒂𝒗𝒆𝒍𝒆𝒓𝒔 𝒕𝒆𝒏𝒅𝒔 𝒕𝒐 𝒕𝒓𝒂𝒗𝒆𝒍 𝒎𝒖𝒍𝒕𝒊𝒑𝒍𝒆 𝒕𝒊𝒎𝒆 𝒊𝒏 𝒚𝒆𝒂𝒓, 𝒕𝒉𝒖𝒔 𝒕𝒐 𝒓𝒆𝒅𝒖𝒄𝒆 𝒕𝒉𝒆 𝒄𝒐𝒔𝒕 𝒐𝒇 𝒗𝒂𝒓𝒊𝒐𝒖𝒔 𝒅𝒂𝒎𝒂𝒈𝒆𝒔 𝒂𝒏𝒅 𝒕𝒐 𝒊𝒏𝒄𝒓𝒆𝒂𝒔𝒆 𝒕𝒉𝒆 𝒔𝒂𝒇𝒆𝒕𝒚 𝒐𝒇 𝒕𝒉𝒆 𝒑𝒓𝒐𝒅𝒖𝒄𝒕𝒔 𝒆𝒏𝒕𝒆𝒓𝒑𝒓𝒊𝒔𝒆𝒔 𝒂𝒓𝒆 𝒂𝒅𝒐𝒑𝒕𝒊𝒏𝒈 𝒎𝒖𝒍𝒕𝒊-𝒕𝒓𝒊𝒑 𝒕𝒓𝒂𝒗𝒆𝒍 𝒊𝒏𝒔𝒖𝒓𝒂𝒏𝒄𝒆 𝒄𝒐𝒗𝒆𝒓𝒂𝒈𝒆 𝒑𝒍𝒂𝒏𝒔 𝒘𝒉𝒊𝒄𝒉 𝒊𝒔 𝒅𝒓𝒊𝒗𝒊𝒏𝒈 𝒕𝒉𝒆 𝒈𝒓𝒐𝒘𝒕𝒉 𝒐𝒇 𝒕𝒉𝒆 𝒎𝒂𝒓𝒌𝒆𝒕

𝐓𝐨𝐩 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

Trade Credit Insurance Market https://www.alliedmarketresearch.com/trade-credit-insurance-market-A08305
B2B2C Insurance Market https://www.alliedmarketresearch.com/B2B2C-insurance-market
Smart Lending Platform Market https://www.alliedmarketresearch.com/smart-lending-platform-market-A15142
Social Insurance Market https://www.alliedmarketresearch.com/social-insurance-market-A15147
Risk Management Consulting Services Market https://www.alliedmarketresearch.com/risk-management-consulting-services-market-A128346

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" 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 domain.

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 utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of 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 Market Research
+1 800-792-5285
email us here