NEW YORK, June 23, 2021 /PRNewswire/ — Technavio has been monitoring the insurance software market and it is poised to grow by USD 7.29 billion during 2021-2025, progressing at a CAGR of about 8% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
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Frequently Asked Questions:
- Based on segmentation by deployment, which is the leading segment in the market?
Cloud-based is the leading segment in the market.
- At what rate is the market projected to grow?
The market is projected to accelerate at a CAGR of about 8%.
- Who are the top players in the market?
Accenture Plc, Applied Systems Inc., Axxis Systems SA, Dell Technologies Inc., Guidewire Software Inc., Microsoft Corp., International Business Machines Corp., Oracle Corp., Salesforce.com Inc., and SAP SE are the top players in the market.
- What are the key market drivers and challenges?
The market is driven by the increased use of insurance in emergent countries. However, the tightening of the regulatory environment for insurance players will hamper the market growth.
- How big is the APAC market?
36% of the market’s growth will originate from APAC during the forecast period.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Accenture Plc, Applied Systems Inc., Axxis Systems SA, Dell Technologies Inc., Guidewire Software Inc., Microsoft Corp., International Business Machines Corp., Oracle Corp., Salesforce.com Inc., and SAP SE are some of the major market participants. Although the increased use of insurance in emergent countries will offer immense growth opportunities, tightening the regulatory environment for insurance players is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this insurance software market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
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Insurance Software Market 2021-2025: Segmentation
The insurance Software Market is segmented as below:
- North America
- The Middle East and Africa
- South America
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Insurance Software Market 2021-2025: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The insurance software market report covers the following areas:
- Insurance Software Market Size
- Insurance Software Market Trends
- Insurance Software Market Industry Analysis
This study identifies uncertain catastrophic events leading to the increased need for insurance as one of the prime reasons driving the Insurance Software Market growth during the next few years.
Insurance Software Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist insurance software market growth during the next five years
- Estimation of the insurance software market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the insurance software market across North America, APAC, Europe, MEA, and South America
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of insurance software market vendors
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Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020- 2025
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Deployment
- Market segments
- Comparison by Deployment
- On-premise – Market size and forecast 2020-2025
- Cloud-based – Market size and forecast 2020-2025
- Market opportunity by Deployment
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2020-2025
- APAC – Market size and forecast 2020-2025
- Europe – Market size and forecast 2020-2025
- MEA – Market size and forecast 2020-2025
- South America – Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Accenture Plc
- Applied Systems Inc.
- Axxis Systems SA
- Dell Technologies Inc.
- Guidewire Software Inc.
- International Business Machines Corp.
- Microsoft Corp.
- Oracle Corp.
- Salesforce.com Inc.
- SAP SE
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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.
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