The first five-year cumulative revenue (2017-2021) of travel insurance market is projected to be US$ 66.0 Bn, which is expected to increase significantly over the latter part of the five-year forecast period. Rising tourism is a major factor driving growth of the global travel insurance market.
Global Travel Insurance Market: Segmental Snapshot
By type: The annual multi-trip segment accounted for highest revenue share contribution as compared to other type segment, and is expected to maintain its dominance over the forecast period. The annual multi-trip segment is expected to register a CAGR of over 5.0% between 2017 and 2026.
By application: The business travelers segment accounted for highest revenue share in the global market in 2017, and is projected to continue contributing the highest revenue share as compared to that of other application segments by 2026. The business travelers segment is projected to register highest CAGR of over 5% during the forecast period.
By region/country: The China travel insurance market is expected to register highest CAGR of over 5.0% in terms of revenue during the forecast period. The market in Europe accounted for major revenue share in the global travel insurance market in 2016, and is expected to witness significant growth over the forecast period.
Global Travel Insurance Market: Competitive Analysis
The research report on the global travel insurance market includes profiles of some of major companies such as CSA Travel Protection, USI Affinity, Seven Corners Inc., TravelSafe Insurance, MH Ross, Allianz Global Assistance, Travel Insured International, AXA, American International Group, Inc., Insure & Go Insurance Services Limited, Berkshire Hathaway Specialty Insurance, Travelex Group, Tokio Marine HCC Medical Insurance Services Group, Aviva plc, American Express Company, Munich RE, Groupama, MAPFRE ASSISTANCE, Sompo Japan Nipponkoa Insurance Inc., Ping An Insurance Company of China, Ltd., and Starr Companies.
Source of Infographics: Travel Insurance Market Infographics By MarketResearch