Travel Insurance Market Anticipated to Grow at a CAGR of 7.6% during 2016-2024 from USD 14.7 Billion in 2016

New York, USA, 2018-Dec-06 — /EPR Network/ —

According to Goldstein Research, global travel insurance market size is expected to reach USD 26.41 billion by 2024 from estimated USD 14.7 billion in 2016, growing at a CAGR of 7.6% over the forecast period 2016-2024. The factors such as rising concerns over medical conditions and potential losses allied with airline cancellations and delays are encouraging the consumers to purchase travel insurance policy hence fuelling the growth of global travel insurance industry. Travel Insurance Market segmentation has been done on the basis of travel insurance type, travel insurance supplier, application, end user and geography. Considerable growth in the adoption of travel insurance is now being observed by the older population. In Europe, around 26% of the adult population purchased holiday and travel insurance in 2016. Global travel insurance market is largely dominated by Europe owing to the increasing number of travelers and travel insurance opted in countries such as the UK, Italy, Greece, Russia, Germany, Portugal, Poland and Finland among other countries. Over 70% of the European population does not prefer international traveling without travel insurance.

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https://www.goldsteinresearch.com/report/global-travel-insurance-industry-market-trends-analysis

 

Market Segmentation

On the basis of our in-depth analysis, Global Travel Insurance Market can be segmented as follows:

Based on Travel Insurance Type

  • Single Trip
  • Annual Multi-Trip
  • Long Stay Travel

Based on Travel Insurance Supplier

  • Travel Agencies
  • Cruise Lines
  • Tour Operators
  • Insurance Companies
  • Banks

Based on Application

  • Medical Expense
  • Trip Cancellations
  • Accidental Deaths
  • Property Damage
  • Baggage and Money Loss

Based on End-User

  • Senior Citizens
  • Students/Education Travelers
  • Business Travelers
  • Family Travelers
  • Others (Backpackers, Group/Independent Travelers)

By Region

  • North America Market Analysis, 2016-2024
  • Europe Market Analysis, 2016-2024
  • The Middle East And Africa Market Analysis, 2016-2024
  • Latin America  Market Analysis, 2016-2024
  • Asia Pacific  Market Analysis, 2016-2024

 

“Global Travel Insurance Market Outlook 2024” contains a detailed overview of the global travel insurance market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by travel insurance type, travel insurance supplier, application, end user and geography.

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The Global Travel Insurance Market Report highlights the competitive outlook of major global players that includes the business strategies, product portfolio, revenue distribution, financial analysis, R&D activities, and investments. The in-depth analysis of the travel insurance market report will help the clients to assess their business strategies as per the competitive environment in the market space.

Major players of the global travel insurance market discussed in the report are: Allianz SE, Generali Group, Aviva plc, Munich Reinsurance Company, Direct Line Insurance Group, AXA, Groupama SA, HanseMerkur Insurance Group, MapfreAsistencia, CSA Travel Protection, Seven Corners Inc., American International Group, Inc., USI Affinity, MH Ross, Tokio Marine, STARR Insurance, Sompo Japan, PinganBaoxian, Travel Safe, Travel Insured International, AIG Travel Guard, Travelex, InsureandGo, RoamRight Travel Insurance, World Nomads, MedJet Assist, FrontierMEDEX, First Allied Travel Insurance,etc.

Further, Global Travel Insurance Market Report encompasses the major trends & growth opportunities, market dynamics, and other growth factors. The Travel Insurance Market outlook also comprises of key challenges for the market players, risk analysis, SWOT Analysis, BPS analysis, and Market Attractiveness. The report also includes the expert analysis which provides a complete overview of the market post analysis of the economic, political, environmental & social factors of each region and country.

Travel Insurance Market is driving on the basis in advancement in mention below industies:

Global Car Rental Market 

Car Rental Industry is projected to reach the market size of USD 85.1 billion by 2024, growing at a compounded annual growth rate of 5.7% during the forecast period 2016-2024. Global car rental industry is largely driven by North America with a revenue share of 40% in 2016, followed by the Asia Pacific Car Rental Market which is growing at a CAGR of 6.2% during the forecast period.

Anti Theft Luggage Market

Major driving factor for the expansion of global Anti-Theft Luggage Market is the technological advancement, increasing disposable income of the people and growing tourism. The awareness of the availability of anti-theft luggage and its advantages over ordinary luggage being safe, stress-free and smart traveling has resulted in the growth of the anti-theft market.

Travel Bags Market

acquisition of smaller and domestic brands by leading players is the key business stretegy that helps key vendors to expand their profit margin and to make an exceptional presence in the Global Travel Bags Market. The global travel bag market valued USD 33.10 billion in 2016 and is estimated to reach over USD 53.16 billion in 2024, growing at a CAGR of 6.1% during the forecast period. North America Travel Bags Market is acquiring the largest market share of travel bags market followed by Europe

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