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Insurance Analytics - Global Market Trajectory & Analytics

  • ID: 4805968
  • Report
  • September 2020
  • Region: Global
  • 173 pages
  • Global Industry Analysts, Inc
1 of 3

FEATURED COMPANIES

  • APPLIED SYSTEMS INC.
  • BIRST
  • BOARD INTERNATIONAL
  • GUIDEWIRE SOFTWARE
  • HEXAWARE TECHNOLOGIES
  • IBM CORPORATION
  • MORE
Global Insurance Analytics Market to Reach $15.9 Billion by 2027

Amid the COVID-19 crisis, the global market for Insurance Analytics estimated at US$7.3 Billion in the year 2020, is projected to reach a revised size of US$15.9 Billion by 2027, growing at a CAGR of 11.8% over the analysis period 2020-2027. Claims Management, one of the segments analyzed in the report, is projected to record a 11.8% CAGR and reach US$5.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Risk Management segment is readjusted to a revised 12.7% CAGR for the next 7-year period.

The U. S. Market is Estimated at $2.1 Billion, While China is Forecast to Grow at 11.3% CAGR

The Insurance Analytics market in the U. S. is estimated at US$2.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.8 Billion by the year 2027 trailing a CAGR of 11.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.3% and 10% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.6% CAGR.

Customer Management and Personalization Segment to Record 11.1% CAGR

In the global Customer Management and Personalization segment, USA, Canada, Japan, China and Europe will drive the 10.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.1 Billion in the year 2020 will reach a projected size of US$2.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.9 Billion by the year 2027. We bring years of research experience to this 6th edition of our report. The 173-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others:
  • Applied Systems Inc.
  • Birst, Inc.
  • BOARD International
  • Bridgei2i Analytics Solutions
  • Guidewire Software, Inc.
  • Hexaware Technologies Ltd.
  • IBM Corporation
  • LexisNexis Group Inc.
  • Microsoft Corporation
  • MicroStrategy, Inc.
  • OpenText Corporation
  • Oracle Corporation
  • Palantir Technologies
  • Pegasystems, Inc.
  • Prads Inc.
  • Qlik Technologies, Inc.
  • Salesforce. com, Inc.
  • SAP SE
  • SAS Institute, Inc.
  • Tableau Software, Inc.
  • TIBCO Software, Inc.
  • Verisk Analytics, Inc.
  • Vertafore, Inc.
Note: Product cover images may vary from those shown
2 of 3

FEATURED COMPANIES

  • APPLIED SYSTEMS INC.
  • BIRST
  • BOARD INTERNATIONAL
  • GUIDEWIRE SOFTWARE
  • HEXAWARE TECHNOLOGIES
  • IBM CORPORATION
  • MORE
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Increasing Demand for Digitalization, Advanced Analytics, Automation and AI in Insurance Sector Drives Growth for Insurance Analytics Market
  • On-Demand Insurance Goes Mainstream
  • Competition
  • Leading Insurance Software Vendors in the Global Insurance Analytics Market
  • Global Insurance Market for the Year 2019: Percentage Share Breakdown of Value Sales by Leading Vendors
  • Global Competitor Market Shares
  • Insurance Analytics Competitor Market Share Scenario Worldwide (in %): 2019 & 2025
  • Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • Rapid Shift from Report-Driven Strategy to Data-Driven Decision Making in the Insurance Sector Propels Growth for Insurance Analytics
  • Global Internet Data Generated Per Minute by Various Apps for the Year 2018
  • Fast Adoption of Advanced Insurance Analytics Techniques: An Opportunity Indicator
  • Global Big Data Market: Revenues in US$ Billion by Segment for the Years 2019 and 2025
  • Increasing Demand for Innovative Insurance Analytics Tools and Services Lead to Growth
  • Growth in Adoption of AI and IoT in Insurance Sector Augurs Well for Insurance Analytics Market
  • Global IoT Connected Devices Market: Breakdown of Installed Base in Billion for the Years from 2015, 2018, 2021, and 2024
  • Global AI Market: Revenues in US$ Billion for the Years 2015, 2018, 2021, 2024
  • Consumer IoT Offers Significant Growth Opportunities for Insurance Analytics Market
  • Global IoT Market: Spending in US$ Billion by Segment for the Year 2019
  • IoT Faces Data Management, Security and Ownership Challenges in Insurance Analytics Market
  • Product Overview
  • Insurance Analytics: An Introduction
  • Insurance Analytics: Business Applications
  • Process Optimization
  • Risk Management
  • Customer Management and Personalization
  • Claims Management
  • Insurance Analytics by Type
  • On-Demand Insurance
  • On-Premise Insurance
4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: Insurance Analytics Global Market Estimates and Forecasts in US$ Million by Region/Country: 2020-2027
  • TABLE 2: Insurance Analytics Market Share Shift across Key Geographies Worldwide: 2020 VS 2027
  • TABLE 3: Claims Management (Business Application) World Market by Region/Country in US$ Million: 2020 to 2027
  • TABLE 4: Claims Management (Business Application) Market Share Breakdown of Worldwide Sales by Region/Country: 2020 VS 2027
  • TABLE 5: Risk Management (Business Application) Potential Growth Markets Worldwide in US$ Million: 2020 to 2027
  • TABLE 6: Risk Management (Business Application) Market Sales Breakdown by Region/Country in Percentage: 2020 VS 2027
  • TABLE 7: Customer Management and Personalization (Business Application) Geographic Market Spread Worldwide in US$ Million: 2020 to 2027
  • TABLE 8: Customer Management and Personalization (Business Application) Market Share Distribution in Percentage by Region/Country: 2020 VS 2027
  • TABLE 9: Process Optimization (Business Application) World Market Estimates and Forecasts by Region/Country in US$ Million: 2020 to 2027
  • TABLE 10: Process Optimization (Business Application) Market Share Breakdown by Region/Country: 2020 VS 2027
  • TABLE 11: On-premises (Deployment) World Market by Region/Country in US$ Million: 2020 to 2027
  • TABLE 12: On-premises (Deployment) Market Share Distribution in Percentage by Region/Country: 2020 VS 2027
  • TABLE 13: On-demand (Deployment) World Market Estimates and Forecasts in US$ Million by Region/Country: 2020 to 2027
  • TABLE 14: On-demand (Deployment) Market Percentage Share Distribution by Region/Country: 2020 VS 2027
  • TABLE 15: Insurance Companies (End-Use) Global Opportunity Assessment in US$ Million by Region/Country: 2020-2027
  • TABLE 16: Insurance Companies (End-Use) Percentage Share Breakdown of Global Sales by Region/Country: 2020 VS 2027
  • TABLE 17: Government Agencies (End-Use) Worldwide Sales in US$ Million by Region/Country: 2020-2027
  • TABLE 18: Government Agencies (End-Use) Market Share Shift across Key Geographies: 2020 VS 2027
  • TABLE 19: Third-party Administrators, Brokers, and Consultancies (End-Use) Global Market Estimates & Forecasts in US$ Million by Region/Country: 2020-2027
  • TABLE 20: Third-party Administrators, Brokers, and Consultancies (End-Use) Market Share Breakdown by Region/Country: 2020 VS 2027
III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES
  • Market Facts & Figures
  • US Insurance Analytics Market Share (in %) by Company: 2019 & 2025
  • Market Analytics
  • TABLE 21: United States Insurance Analytics Market Estimates and Projections in US$ Million by Business Application: 2020 to 2027
  • TABLE 22: United States Insurance Analytics Market Share Breakdown by Business Application: 2020 VS 2027
  • TABLE 23: Insurance Analytics Market in US$ Million in the United States by Deployment: 2020-2027
  • TABLE 24: United States Insurance Analytics Market Share Breakdown by Deployment: 2020 VS 2027
  • TABLE 25: United States Insurance Analytics Latent Demand Forecasts in US$ Million by End-Use: 2020 to 2027
  • TABLE 26: Insurance Analytics Market Share Breakdown in the United States by End-Use: 2020 VS 2027
CANADA
  • TABLE 27: Canadian Insurance Analytics Market Estimates and Forecasts in US$ Million by Business Application: 2020 to 2027
  • TABLE 28: Insurance Analytics Market in Canada: Percentage Share Breakdown of Sales by Business Application for 2020 and 2027
  • TABLE 29: Insurance Analytics Market Analysis in Canada in US$ Million by Deployment: 2020-2027
  • TABLE 30: Canadian Insurance Analytics Market Share Breakdown by Deployment:2020 VS 2027
  • TABLE 31: Canadian Insurance Analytics Market Quantitative Demand Analysisin US$ Million by End-Use: 2020 to 2027
  • TABLE 32: Canadian Insurance Analytics Market Share Analysis by End-Use: 2020 VS 2027
JAPAN
  • TABLE 33: Japanese Market for Insurance Analytics: Annual Sales Estimates and Projections in US$ Million by Business Application for the Period 2020-2027
  • TABLE 34: Japanese Insurance Analytics Market Share Analysis by Business Application: 2020 VS 2027
  • TABLE 35: Japanese Medium & Long-Term Outlook for Insurance Analytics Market in US$ Million by Deployment: 2020-2027
  • TABLE 36: Japanese Insurance Analytics Market Percentage Share Distribution by Deployment: 2020 VS 2027
  • TABLE 37: Japanese Demand Estimates and Forecasts for Insurance Analytics in US$ Million by End-Use: 2020 to 2027
  • TABLE 38: Insurance Analytics Market Share Shift in Japan by End-Use: 2020 VS 2027
CHINA
  • TABLE 39: Chinese Insurance Analytics Market Growth Prospects in US$ Million by Business Application for the Period 2020-2027
  • TABLE 40: Chinese Insurance Analytics Market by Business Application: Percentage Breakdown of Sales for 2020 and 2027
  • TABLE 41: Insurance Analytics Market Estimates and Forecasts in China in US$ Million by Deployment: 2020-2027
  • TABLE 42: Insurance Analytics Market in China: Percentage Share Analysis by Deployment for 2020 and 2027
  • TABLE 43: Chinese Demand for Insurance Analytics in US$ Million by End-Use: 2020 to 2027
  • TABLE 44: Chinese Insurance Analytics Market Share Breakdown by End-Use: 2020 VS 2027
EUROPE
  • Market Facts & Figures
  • European Insurance Analytics Market: Competitor Market Share Scenario (in %) for 2019 & 2025
  • Market Analytics
  • TABLE 45: European Insurance Analytics Market Demand Scenario in US$ Million by Region/Country: 2018-2025
  • TABLE 46: European Insurance Analytics Market Share Shift by Region/Country: 2020 VS 2027
  • TABLE 47: European Insurance Analytics Market Estimates and Forecasts in US$ Million by Business Application: 2020-2027
  • TABLE 48: European Insurance Analytics Market Share Breakdown by Business Application: 2020 VS 2027
  • TABLE 49: European Insurance Analytics Market Assessment in US$ Million by Deployment: 2020-2027
  • TABLE 50: Insurance Analytics Market in Europe: Percentage Breakdown of Sales by Deployment for 2020 and 2027
  • TABLE 51: European Insurance Analytics Addressable Market Opportunity in US$ Million by End-Use: 2020-2027
  • TABLE 52: European Insurance Analytics Market Share Analysis by End-Use: 2020 VS 2027
FRANCE
  • TABLE 53: Insurance Analytics Market in France by Business Application: Estimates and Projections in US$ Million for the Period 2020-2027
  • TABLE 54: French Insurance Analytics Market Share Analysis by Business Application: 2020 VS 2027
  • TABLE 55: French Insurance Analytics Market Estimates and Projections in US$ Million by Deployment: 2020-2027
  • TABLE 56: French Insurance Analytics Market Share Breakdown by Deployment: 2020 VS 2027
  • TABLE 57: Insurance Analytics Quantitative Demand Analysis in France in US$ Million by End-Use: 2020-2027
  • TABLE 58: French Insurance Analytics Market Share Analysis: A 7-Year Perspective by End-Use for 2020 and 2027
GERMANY
  • TABLE 59: Insurance Analytics Market in Germany: Recent Past, Current and Future Analysis in US$ Million by Business Application for the Period 2020-2027
  • TABLE 60: German Insurance Analytics Market Share Breakdown by Business Application: 2020 VS 2027
  • TABLE 61: German Insurance Analytics Latent Demand Forecasts in US$ Million by Deployment: 2020-2027
  • TABLE 62: German Insurance Analytics Market Share Breakdown by Deployment:2020 VS 2027
  • TABLE 63: Insurance Analytics Market in Germany: Annual Sales Estimates and Forecasts in US$ Million by End-Use for the Period 2020-2027
  • TABLE 64: Insurance Analytics Market Share Distribution in Germany by End-Use:2020 VS 2027
ITALY
  • TABLE 65: Italian Insurance Analytics Market Growth Prospects in US$ Million by Business Application for the Period 2020-2027
  • TABLE 66: Italian Insurance Analytics Market by Business Application: Percentage Breakdown of Sales for 2020 and 2027
  • TABLE 67: Insurance Analytics Market Estimates and Forecasts in Italy in US$ Million by Deployment: 2020-2027
  • TABLE 68: Insurance Analytics Market in Italy: Percentage Share Analysis by Deployment for 2020 and 2027
  • TABLE 69: Italian Demand for Insurance Analytics in US$ Million by End-Use: 2020 to 2027
  • TABLE 70: Italian Insurance Analytics Market Share Breakdown by End-Use: 2020 VS 2027
UNITED KINGDOM
  • TABLE 71: United Kingdom Market for Insurance Analytics: Annual Sales Estimates and Projections in US$ Million by Business Application for the Period 2020-2027
  • TABLE 72: United Kingdom Insurance Analytics Market Share Analysis by Business Application: 2020 VS 2027
  • TABLE 73: United Kingdom Medium & Long-Term Outlook for Insurance Analytics Market in US$ Million by Deployment: 2020-2027
  • TABLE 74: United Kingdom Insurance Analytics Market Percentage Share Distribution by Deployment: 2020 VS 2027
  • TABLE 75: United Kingdom Demand Estimates and Forecasts for Insurance Analytics in US$ Million by End-Use: 2020 to 2027
  • TABLE 76: Insurance Analytics Market Share Shift in the United Kingdom by End-Use: 2020 VS 2027
REST OF EUROPE
  • TABLE 77: Rest of Europe Insurance Analytics Market Estimates and Forecasts in US$ Million by Business Application: 2020-2027
  • TABLE 78: Rest of Europe Insurance Analytics Market Share Breakdown by Business Application: 2020 VS 2027
  • TABLE 79: Rest of Europe Insurance Analytics Market Assessment in US$ Million by Deployment: 2020-2027
  • TABLE 80: Insurance Analytics Market in Rest of Europe: Percentage Breakdown of Sales by Deployment for 2020 and 2027
  • TABLE 81: Rest of Europe Insurance Analytics Addressable Market Opportunity in US$ Million by End-Use: 2020-2027
  • TABLE 82: Rest of Europe Insurance Analytics Market Share Analysis by End-Use:2020 VS 2027
ASIA-PACIFIC
  • TABLE 83: Insurance Analytics Market in Asia-Pacific by Business Application: Estimates and Projections in US$ Million for the Period 2020-2027
  • TABLE 84: Asia-Pacific Insurance Analytics Market Share Analysis by Business Application: 2020 VS 2027
  • TABLE 85: Asia-Pacific Insurance Analytics Market Estimates and Projections in US$ Million by Deployment: 2020-2027
  • TABLE 86: Asia-Pacific Insurance Analytics Historic Market Analysis in US$ Million by Deployment: 2020 VS 2027
  • TABLE 87: Insurance Analytics Quantitative Demand Analysis in Asia-Pacific in US$ Million by End-Use: 2020-2027
  • TABLE 88: Asia-Pacific Insurance Analytics Market Share Analysis: A 7-Year Perspective by End-Use for 2020 and 2027
REST OF WORLD
  • TABLE 89: Rest of World Insurance Analytics Market Estimates and Forecasts in US$ Million by Business Application: 2020 to 2027
  • TABLE 90: Insurance Analytics Market in Rest of World: Percentage Share Breakdown of Sales by Business Application for 2020 and 2027
  • TABLE 91: Insurance Analytics Market Analysis in Rest of World in US$ Million by Deployment: 2020-2027
  • TABLE 92: Rest of World Insurance Analytics Market Share Breakdown by Deployment:2020 VS 2027
  • TABLE 93: Rest of World Insurance Analytics Market Quantitative Demand Analysisin US$ Million by End-Use: 2020 to 2027
  • TABLE 94: Rest of World Insurance Analytics Market Share Analysis by End-Use:2020 VS 2027
IV. COMPETITION
  • Total Companies Profiled: 41
Note: Product cover images may vary from those shown
3 of 3
  • APPLIED SYSTEMS INC.
  • BOARD INTERNATIONAL
  • BRIDGEI2I ANALYTICS SOLUTIONS
  • BIRST
  • GUIDEWIRE SOFTWARE
  • HEXAWARE TECHNOLOGIES
  • IBM CORPORATION
  • LEXISNEXIS GROUP
  • MICROSTRATEGY
  • MICROSOFT CORPORATION
  • OPENTEXT CORPORATION
  • ORACLE CORP
Note: Product cover images may vary from those shown
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