Allied Market Research published a new report, titled, "auto insurance Market" The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global auto insurance market size was valued at $739.30 billion in 2019, and is projected to reach $1.06 trillion by 2027, growing at a CAGR of 8.5% from 2020 to 2027.
auto insurance market has grown rapidly over the past few years. Digital transformation projects across verticals witnessed huge uptake and are also expected to contribute further in the near future. The auto insurance market gains popularity in various industries including IT & telecom, BFSI, and healthcare, owing to its supreme benefits such as high-speed random access of data and low power consumption.
The report offers key drivers that propel the growth in the global auto insurance market. These insights help market players in devising strategies to gain market presence. The research also outlined restraints of the market. Insights on opportunities are mentioned to assist market players in taking further steps by determining potential in untapped regions.
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Auto Insurance Key Market Segments and Subsegments Includes:
• Third Party Liability Coverage
• Collision/Comprehensive/ Other Optional Coverages
By Distribution Channel
• Insurance Agents/Brokers
• Direct Response
By Vehicle Age
• New Vehicles
• Used Vehicles
The market is analyzed based on regions and competitive landscape in each region is mentioned.
North America (United States, Canada and Mexico),
Europe (Germany, France, UK, Russia and Italy),
Asia-Pacific (China, Japan, Korea, India and Southeast Asia),
South America (Brazil, Argentina, Colombia),
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa).
These insights help to devise strategies and create new opportunities to achieve exceptional results. The research offers an extensive analysis of key players active in the global auto insurance industry. Detailed analysis on operating business segments, product portfolio, business performance, and key strategic developments is offered in the research. Leading market players analyzed in the report include YY. These players have adopted various strategies including expansions, mergers &acquisitions, joint ventures, new product launches, and collaborations to gain a strong position in the industry.
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Leading Key Players:
• People’s Insurance Company of China
• CHINA PACIFIC INSURANCE CO.
• Ping An Insurance (Group) Company of China, Ltd.
• State Farm Mutual Automobile Insurance
• Berkshire Hathaway Inc.
• Admiral Group Plc
• Tokio Marine Group
• Allstate Insurance Company
- The report provides a qualitative and quantitative analysis of the current auto insurance market trends, forecasts, and market size from 2019 to 2026 to determine new opportunities.
- Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make strategic business decisions and determine the level of competition in the industry.
- Top impacting factors & major investment pockets are highlighted in the research.
- The major countries in each region are analyzed and their revenue contribution is mentioned.
- The market player positioning segment provides an understanding of the current position of the market players active in the auto insurance industry.
Key offerings of the report:
- Key drivers & Opportunities: Detailed analysis on driving factors and opportunities in different segments for strategizing.
- Current trends & forecasts: Comprehensive analysis on latest trends, development, and forecasts for next few years to take next steps.
- Segmental analysis: Each segment analysis and driving factors along with revenue forecasts and growth rate analysis.
- Regional Analysis: Thorough analysis of each region help market players devise expansion strategies and take a leap.
- Competitive Landscape: Extensive insights on each of the leading market players for outlining competitive scenario and take steps accordingly.
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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