Travel Insurance Market To Sustain Significant CAGR Value Of 4.7% Between 2017-2026

New York City, NY: Sept 11, 2019 – Published via (Wired Release) – Travel insurance plans are designed to cover costs and losses and reduce the risks associated with unexpected events encountered while traveling. It is a useful method to protect those traveling domestically or abroad.

The global travel insurance market was valued at nearly US$ 12 billion in 2017, and is expected to register a CAGR of 4.7%. The first five-year cumulative revenue (2017–2021) is projected to be US$ 66.0 Bn, which is expected to increase significantly over the latter part of the five-year forecast period.

A major factor restraining growth of the global travel insurance market is low penetration in some underdeveloped and developing countries, owing to lack of awareness in this countries. Changing travel pattern across the globe coupled with increasing disposable income are expected to create opportunities for major service and policy providers in the global market over the forecast period.

A current trend in the market is that people are taking more frequent but shorter breaks instead of just one traditional summer holiday. Rising popularity of such breaks coupled with continuously reducing air fares is expected to boost demand for multi-trip policies to cover several trips a year. This factor is expected to create lucrative opportunities for key players in the market.

Request For Sample Report Before Buying (Use Corporate eMail ID to Get Higher Priority): https://marketresearch.biz/report/travel-insurance-market/request-sample/

Global Travel Insurance Market: Market Forecast

The comprehensive research report comprises a complete forecast of the global travel insurance market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global travel insurance market is expected to expand at a moderate CAGR of 4.7% during the forecast period.

Global Travel Insurance Market: Segmental Snapshot

The market report has been segmented on the basis of type, application, and region/country. The types segment includes single trip, annual multi-trip, and long stay. The application segment includes senior citizens, education travelers, backpackers, business travelers, and family travelers. The regions/countries covered in the analysis are North America, Europe, China, Japan, Middle East & Africa, India, South America, and Rest of the World.

By type: The annual multi-trip segment accounted for highest revenue share contribution as compared to other type segment, and is expected to maintain its dominance over the forecast period. The annual multi-trip segment is expected to register a CAGR of over 5.0% between 2017 and 2026.

By application: The business travelers segment accounted for highest revenue share in the global market in 2017, and is projected to continue contributing the highest revenue share as compared to that of other application segments by 2026. The business travelers segment is projected to register highest CAGR of over 5% during the forecast period.

By region/country: The China travel insurance market is expected to register highest CAGR of over 5.0% in terms of revenue during the forecast period. The market in Europe accounted for major revenue share in the global travel insurance market in 2016, and is expected to witness significant growth over the forecast period.

Inquire for Further Detailed Information About The Report Before Buying (Use Corporate email ID to Get Higher Priority): https://marketresearch.biz/report/travel-insurance-market/#inquiry

Global Travel Insurance Market: Competitive Analysis

The research report on the global travel insurance market includes profiles of some of major companies such as CSA Travel Protection, USI Affinity, Seven Corners Inc., TravelSafe Insurance, MH Ross, Allianz Global Assistance, Travel Insured International, AXA, American International Group, Inc., Insure & Go Insurance Services Limited, Berkshire Hathaway Specialty Insurance, Travelex Group, Tokio Marine HCC Medical Insurance Services Group, Aviva plc, American Express Company, Munich RE, Groupama, MAPFRE ASSISTANCE, Sompo Japan Nipponkoa Insurance Inc., Ping An Insurance Company of China, Ltd., and Starr Companies.

Pricing Details For The Report: (Limited Period Offer) Single User- $3,995 | Multiple User- $6,600 | Corporate Users- $8,200 To Purchase This Premium Report Click Here: https://marketresearch.biz/purchase-report/?report_id=4842

How do Single user, multiple user, and corporate licenses differ from each other?

Single user, multiple user, and corporate licenses are differentiated on the basis of the number of users permitted to use the ordered reports. For a single user license, the distribution of a report copy will be restricted to only one user. Understood by its term, a multiple user license will be restricted to more than one user, typically five users only. Corporate license holders, on the other hand, will be able to distribute a report copy across their organization.

About Us:

MarketResearch.Biz is a specialized market research, analytics, and solutions company, offering strategic and tactical support to clients for making well-informed business decisions. We are a team of dedicated and impassioned individuals, who believe strongly in giving our very best to what we do and we never back down from any challenge. It offers services such as data mining, information management, and revenue enhancement solutions and suggestions.

Contact Us:

Mr. Benni Johnson

Prudour Pvt. Ltd.

420 Lexington Avenue,

Suite 300 New York City, NY 10170,

United States

Tel: + 1-347-826-1876

Email ID: [email protected]

Website: https://marketresearch.biz/

About the author

Avatar of Syndicated Content Editor

Syndicated Content Editor

Share to...