Travel Insurance Market Global Size, Growth, Trends and Demand 2021 to 2030

Posted by Vedika on March 25th, 2021

The Global Travel Insurance Market size is estimated to be USD 21.92 billion in 2019 and is predicted to reach USD 49.57 billion by 2030 with a CAGR of 7.7% from 2020-2030.

Travel Insurance is insurance which is used in case of luggage loss, trip cancellation, medical expenses during trip and others expenses in case of mishap during trip. Travel insurance can be taken at the time of booking. Some travel insurance can be used for the single trip and some can be used for multi trip, on the other hand few banks also offer free insurance with credit cards.

Access Full Description of this report at:-

https://www.nextmsc.com/report/travel-insurance-market

Top Companies: CSA Travel Protection, Travel Safe, AIG Travel, Allianz Global Assistance, Berkshire Hathaway Specialty Insurance, Seven Corners Inc., USI Affinity, AXA SA, MH Ross, Tokio Marine HCC Medical Insurance Services Group, American Express Company, InsureandGo., Travel Insured International, Travel Insured International, Travelex Group and others.

The global travel insurance market share is analyzed on the basis of insurance cover, distribution channel, end user and geography. On the basis of insurance cover, the market is segmented into Single Trip Travel Insurance, Annual Multi-Trip Travel Insurance, and Long-Stay Travel Insurance. On the basis of distribution channel, the market is divided into Insurance Intermediaries, Insurance Company, Bank, Insurance Broker, Insurance Aggregator, and Others. On the basis of users, the market is divided into Senior Citizens, Education Traveler, Backpackers, Business Traveler, Family Traveler, and Fully independent Traveler. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

North America represents the increased adoption of travel insurance and expected to the major market share during the forecast period. The other factors include increase in tourism industry, increase in trade practices, increase in globalization is further expected to expand the market. Asia Pacific is expected to develop significantly with the gradual increase in market size owing to the increase in natural disasters, epidemic outbreaks, increasing traffic led to luggage loss and increase in terrorist activities and others are further expected to drive the market growth.

About Next Move Strategy Consulting:

Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.