Press release
Blockchain Insurance Market was valued at USD 325.42 Million in 2021, and it is expected to reach USD 25315.55 Million by 2029, exhibiting a CAGR of 72.33% during the forecast period (2022-2029)
Blockchain Insurance Market
Pune 27 Feb 2023: As per the report published by Maximize Market research, a global business research and consultancy firm, the total global market for "Blockchain Insurance Market" was USD 325.42 Mn in 2021 and is expected to grow at a CAGR of 72.33 percent over the forecast period to reach USD 25315.88 Mn by 2029.
Blockchain Insurance Market Report Scope and Research Methodology
The report includes a thorough analysis of the global, local and regional markets for Blockchain Insurance. The report covers an in-depth analysis of the market and contains meaningful Insights, facts and industry-validated market statistics. The report represents an estimation of the Blockchain Insurance market size of the Blockchain Insurance market along with existing as well as future trends. The bottom-up and Top-down approaches were used in the Blockchain Insurance market report. The report contains primary as well as secondary data sources with qualitative and quantitative analysis of the Blockchain Insurance market. The primary research involved interviews with significant opinion leaders and Industry experts such as business owners, market leaders and marketing specialists. The secondary data sources of the reviews of the financial and annual reports of top manufacturers. To understand Blockchain Insurance market penetration, the report provides the demand analysis of the competitive analysis.
For a segment-wise analysis of the Blockchain Insurance market, it was divided by Provider, Organization Size, Application and region. The report offers market risks, restraints, drivers and opportunities, and market barriers and challenges. SWOT analysis was used to find the strength and weaknesses of the Blockchain Insurance market while PESTLE was used to understand the potential impact of the micro-economic factors affecting the Blockchain Insurance market.
Know More About The Report:https://www.maximizemarketresearch.com/market-report/blockchain-insurance-market/11489/
An increasing number of fraudulent claims drive the growth of the Blockchain Insurance Market
The insurance industry is most vulnerable to various frauds and data thefts. The adoption of the blockchain in the insurance industry helps to reduce fraud and increase customer satisfaction. For the untrusted parties, the blockchain provides a decentralized public ledger and it can be used to eliminate the error and find fraudulent activities.
During the forecast period, the Blockchain Insurance Market growth is expected to be driven by an increase in the demand for the blockchain in the insurance industry, an increase in the number of fraudulent claims, rising demand for secure online platforms. The Blockchain Insurance Market growth is expected to be hampered by the high initial set-up cost, awareness about the blockchain technology, difficulty to understand and unpredictable regulatory status of the blockchain. The rise of Backend-as-a-Service (BaaS) for cloud service and the growth of smart contracts in insurance are the expected lucrative opportunities for the growth of the market over the forecast period.
North American region dominates the global Blockchain Insurance Market
In 2021, the North American region dominated the global Blockchain Insurance Market with a revenue share of more than 42 percent. The regional Blockchain Insurance Market growth is driven by increasing investment in blockchain technology, increasing adoption in the finance sector, a rise in the internet penetration rate and increasing skilled expertise for crypt currencies. The United States and Canada both are major contributors to the regional growth of the Blockchain Insurance Market.
Over the forecast period, the Asia-Pacific region is expected to witness significant growth in the Blockchain Insurance Market due to improvements in the claim management system and advancement in cutting-edge technologies and insurance services. In the Indian insurance industry, the innovation of emerging technologies such as cloud, big data, AI is expected to contribute to the regional growth of the market.
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Blockchain Insurance Market Segmentation
By Provider
Application and solution provider
Middleware provider
Infrastructure and protocols provider
By Organization Size
Small and Medium-sized Enterprises (SMEs)
Large Enterprises
By Application
GRC management
Death and claims management
Identity management and fraud detection
Payments
Smart contracts
Others (content storage management and customer communication)
Blockchain Insurance Market Key Players include:
Ziglu Limited (US)
Circle Internet Financial Limited (US)
ConsenSys (US)
Digital Asset Holdings (US)
Symbiont (US)
AlphaPoint (US)
AWS (US)
BitPay (US)
BlockCypher (US)
BTL Group (US)
IBM Technology (US)
Microsoft (US)
Oracle (US)
BTL Group (Canada)
ChainThat Limited (UK)
Applied Blockchain (UK)
Everledger (UK)
Bitfury (Netherlands)
Lykke AG (Switzerland)
Guardtime (Switzerland)
SAP SE (Germany)
Horizon state Pty Ltd. (Australia)
Auxesis Group (India)
Algorythmix (India)
L&T Finance Holdings Linited (India)
Tata Group (India)
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Table of for Global Blockchain Insurance Market:
Global Blockchain Insurance Market: Research Methodology
Global Blockchain Insurance Market: Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
Global Blockchain Insurance Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
Global Blockchain Insurance Market Segmentation
Global Market, by Provider (2021-2029)
Global Market, by Organization Size (2021-2029)
Global Market, by Application (2021-2029)
Regional Global Blockchain Insurance Market(2021-2029)
Regional Market, by Provider (2021-2029)
Regional Market, by Organization Size (2021-2029)
Regional Market, by Application (2021-2029)
Regional Market, by Country (2021-2029)
Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
Purchase Report :https://www.maximizemarketresearch.com/checkout/?method=PayPal&reportId=11489&type=Single%20User
Key Offerings:
Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis of the Provider, Organization Size, Application and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
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Contact Maximize Market Research:
3rd Floor, Navale IT Park, Phase 2
Pune Banglore Highway, Narhe,
Pune, Maharashtra 411041, India
sales@maximizemarketresearch.com
+91 96071 95908, +91 9607365656
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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