Insurance Brokerage Market to grow by USD 20.52 billion through 2025|Impacts of Drivers and Challenges|Technavio
June 8, 2021 by Technavio
NEW YORK, June 2, 2021 /PRNewswire/ —
Technavio has been monitoring the insurance brokerage market and it is poised to grow by USD 20.52 billion during 2021-2025, progressing at a CAGR of almost 6% 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.
Frequently Asked Questions:
- Based on segmentation by type, which is the leading segment in the market?
Non-life insurance 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 almost 6%. - Who are the top players in the market?
Aon Plc, Arthur J. Gallagher and Co., Brown & Brown Inc., HUB International Ltd., Lockton Companies, Marsh & McLennan Companies Inc., NFP Corp., Pragmatic Insurance Broking Services Pvt. Ltd., Southwest Insurance Brokers LLC, and Willis Towers Watson Public Ltd. Co. are the top players in the market. - What are the key market drivers and challenges?
The market is driven by the increased demand for insurance policies. However, the direct purchase of insurance policies by customers will hamper the market growth. - How big is the North America market?
38% of the market’s growth will originate from North America during the forecast period.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Aon Plc, Arthur J. Gallagher and Co., Brown & Brown Inc., HUB International Ltd., Lockton Companies, Marsh & McLennan Companies Inc., NFP Corp., Pragmatic Insurance Broking Services Pvt. Ltd., Southwest Insurance Brokers LLC, and Willis Towers Watson Public Ltd. Co. are some of the major market participants. Although the increased demand for insurance policies will offer immense growth opportunities, the direct purchase of insurance policies by customers is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this insurance brokerage 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 Brokerage Market 2021-2025: Segmentation
Insurance Brokerage Market is segmented as below:
- Type
o Non-life Insurance
o Life Insurance
- Geography
o North America
o Europe
o APAC
o South America
o The Middle East and Africa
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Insurance Brokerage 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 brokerage market report covers the following areas:
- Insurance Brokerage Market Size
- Insurance Brokerage Market Trends
- Insurance Brokerage Market Industry Analysis
This study identifies the increase in HNWIs in developing regions as one of the prime reasons driving the Insurance Brokerage Market growth during the next few years.
Insurance Brokerage Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist insurance brokerage market growth during the next five years
- Estimation of the insurance brokerage market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the insurance brokerage market across North America, Europe, APAC, South America, and MEA
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of insurance brokerage market vendors
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Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- 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 Type
- Market segments
- Comparison by Type
- Non-life insurance – Market size and forecast 2020-2025
- Life insurance – Market size and forecast 2020-2025
- Market opportunity by Type
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2020-2025
- Europe – Market size and forecast 2020-2025
- APAC – Market size and forecast 2020-2025
- South America – Market size and forecast 2020-2025
- MEA – Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
Drivers Challenges and Trends
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Aon Plc
- Arthur J
- Brown & Brown Inc
- HUB International Ltd
- Lockton Companies
- Marsh & McLennan Companies Inc
- NFP Corp
- Pragmatic Insurance Broking Services Pvt
- Southwest Insurance Brokers LLC
- Willis Towers Watson Public Ltd
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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