Digital Insurance Platform Market to Grow at CAGR 13.7% by 2029.
LONDON, Nov. 4, 2022 – Data Bridge Market research has a newly released expansive study titled “Digital Insurance Platform Market” which guarantees you will remain better informed than your competition. This study provides a broader perspective of the marketplace with its comprehensive market insights and analysis which eases survival and succeeding in the market. The Digital Insurance Platform market report is an excellent report that makes it possible to the Digital Insurance Platform industry to take strategic decisions and achieve growth objectives. The analysis of this report has been used to examine various segments that are relied upon to witness the quickest development based on the estimated forecast frame. This report also provides the company profile, product specifications, production value, contact information of the manufacturer, and market shares for the company. The report helps the Digital Insurance Platform industry to divulge the best market opportunities and look after proficient information to efficiently climb the ladder of success.
Data Bridge Market Research analyses that the digital insurance platform market will exhibit a CAGR of 13.7% for the forecast period of 2022-2029.
Digital Insurance Platform Market Analysis:
The digital insurance platform market is being driven by the rising adoption of IoT products. The upsurge in the adoption rate of underwater acoustic modems in naval defense is a major factor driving the market’s growth. The changing insurer’s focus from product-based to consumer-centric strategies is driving up demand for digital insurance platform equipment market. Other significant factors such as rising awareness amongst insurers towards digital channels, and technological advancement will cushion the growth rate of digital insurance platform market. Furthermore, upsurge in the adoption rate of cloud-based digital solutions by the insurers to obtain the high scalability will accelerate the growth rate of digital insurance platform market for the forecast period mentioned above.
Moreover, increasing awareness amongst insurers to access a broader segment of the market and emerging new markets will boost the beneficial opportunities for the digital insurance platform market growth.
However, difficulties involved in the integration of insurance platforms with legacy systems will act as major retrain and further impede the market’s growth. The dearth of skilled workforce will challenge the growth of the digital insurance platform market.
Some of the major players operating in the digital insurance platform market are:
- Accenture plc
- Appian Corporation
- Cognizant Technology Solutions Corporation
- Duck Creek Technologies
- DXC Technology Company
- EIS Group Inc.
- IBM Corporation
- Infosys Limited
- Majesco
- Microsoft Corporation
- Mindtree Ltd.
- Oracle Corporation
- Pegasystems Inc.
- Prima Solutions SA
- SAP SE
- Tata Consultancy Services Limited
This Digital Insurance Platform Market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Digital Insurance Platform market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Digital Insurance Platform Market Segmentation:
- By Component:
- Tools
- Services
- By End-User:
- Insurance Companies
- Third-Party Administrators and Brokers
- Aggregators
- By Insurance Application:
- Automotive and Transportation
- Home and Commercial Buildings
- Life and Health
- Business and Enterprise
- Consumer Electronics and Industrial Machines
- Travel
- By Deployment Type:
- On-Premises
- Cloud
- By Organization Size:
- Large Enterprises
- Small and Medium-Sized Enterprises
Digital Insurance Platform Market Country Level Analysis
The countries covered in the Digital Insurance Platform market report are South Africa, Saudi Arabia, U.A.E., Egypt, Israel, the Rest of Middle East and Africa, U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Netherlands, Belgium, Switzerland, Turkey, Rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina and Rest of South America. North America dominates globally due to rising demand for advanced technologies and software design and development.
North America dominates the digital insurance platform market and will continue to flourish its trend of dominance during the forecast period due to the high concentration of large insurance companies in this region. Asia-Pacific is expected to grow during the forecast period of 2022-2029 due to the rise in the level of commercial investment by various industries.
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