COVID-19 Impacts: Marine Insurance Market will Accelerate at a CAGR of over 4% through 2020-2024 | Use Of Multiple Distribution Channels to Boost Growth

LONDON–([1])–Technavio has been monitoring the marine insurance market and it is poised to grow by USD 8.42 bn during 2020-2024, progressing at a CAGR of over 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Latest Free Sample Report on COVID-19 Impact[2]

The market is concentrated, and the degree of concentration will accelerate during the forecast period. Allianz Group, American International Group Inc., Aon Plc, Arthur J. Gallagher & Co., AXA Group, Beazley Plc, Brown & Brown Inc., Lockton Companies, Marsh & McLennan Companies Inc., and Swiss Re Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The use of multiple distribution channels has been instrumental in driving the growth of the market.

Marine Insurance Market 2020-2024 : Segmentation

Marine Insurance Market is segmented as below:

  • Product

    • Cargo
    • Hull
    • Offshore Energy
    • Marine Liability
  • Geographic Landscape

    • APAC
    • Europe
    • MEA
    • North America
    • South America

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR41091[3]

Marine Insurance Market 2020-2024 : Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our marine insurance market [4]report covers the following areas:

  • Marine Insurance Market size
  • Marine Insurance Market trends
  • Marine Insurance Market industry analysis

This study identifies an increase in the use of IoT as one of the prime reasons driving the marine insurance market growth during the next few years.

Marine Insurance Market 2020-2024 : Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the marine insurance market, including some of the vendors such as Allianz Group, American International Group Inc., Aon Plc, Arthur J. Gallagher & Co., AXA Group, Beazley Plc, Brown & Brown Inc., Lockton Companies, Marsh & McLennan Companies Inc., and Swiss Re Ltd. Backed with competitive intelligence and benchmarking, our research reports on the marine insurance market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

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Marine Insurance Market 2020-2024 : Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist marine insurance market growth during the next five years
  • Estimation of the marine insurance market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the marine insurance market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of marine insurance market vendors

Table Of Contents :

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 – 2024

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product placement
  • Cargo – Market size and forecast 2019-2024
  • Hull – Market size and forecast 2019-2024
  • Offshore energy – Market size and forecast 2019-2024
  • Marine liability – Market size and forecast 2019-2024
  • Market opportunity by Product

Customer Landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • Europe – Market size and forecast 2019-2024
  • APAC – Market size and forecast 2019-2024
  • South America – Market size and forecast 2019-2024
  • North America – Market size and forecast 2019-2024
  • MEA – Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers
  • Volume driver – Demand led growth
  • Volume driver – Supply led growth
  • Volume driver – External factors
  • Volume driver – Demand shift in adjacent markets
  • Price driver – Inflation
  • Price driver – Shift from lower to higher-priced units
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption
  • Vendor Analysis

Vendors covered

  • Market positioning of vendors
  • Allianz Group
  • American International Group, Inc.
  • Aon Plc
  • Arthur J. Gallagher & Co.
  • AXA Group
  • Beazley Plc
  • Brown & Brown, Inc.
  • Lockton Companies
  • Marsh & McLennan Companies Inc.
  • Swiss Re Ltd.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

References

  1. ^ (www.businesswire.com)
  2. ^ Please Request Latest Free Sample Report on COVID-19 Impact (cts.businesswire.com)
  3. ^ https://www.technavio.com/talk-to-us?report=IRTNTR41091 (cts.businesswire.com)
  4. ^ marine insurance market (cts.businesswire.com)
  5. ^ Technavio’s SUBSCRIPTION platform (cts.businesswire.com)

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