Blockchain In Insurance Market Global Industry Analysis 2021, Top Manufacturers, Revenue, Growth, Development, Demand Forecast to 2030

In a recent published report, Kenneth Research has updated the market report for Blockchain In Insurance Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Blockchain In Insurance Market products.

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Global Blockchain In Insurance Industry to reach USD 4314.98 million by 2025.
Global Blockchain In Insurance Industry valued approximately USD 16.99 million in 2016 is anticipated to grow with a healthy growth rate of more than 84% over the forecast period 2017-2025. The major growth drivers of the Industry include the emerging need to have transparent and trustworthy systems, and the overall trends witnessed in the insurance sector related to increase in claims-related frauds. Companies, mostly large enterprises, get venture funding to develop supportive infrastructure for blockchain integration. Large enterprises are expected to dominate the Industry in terms of Industry share, as such enterprises are continuously investing in their R&D activities to improve their overall performance and provide customer satisfaction. However, the Small and Medium-sized Enterprises (SMEs) segment is expected to exhibit a higher CAGR, owing to the availability of blockchain-as-a-service, provided by vendors operating in the Industry, which minimizes infrastructure development costs.

North America is expected to continue to dominate the Industry during the forecast period. The APAC region is expected to grow at the highest CAGR during the forecast period, owing to Increase in digitalization, humungous growth of IoT, and an increase in BaaS service providers in the region. Factors such as growing number of fraudulent insurance claims, increasing need to have transparent and trustworthy systems, and focus on reducing total cost of ownership are expected to drive the growth of the global blockchain in insurance Industry

The objective of the study is to define Industry sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the Industry. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The major market players in Industry players include IBM, Oracle, Microsoft, AWS, SAP., Earthport, BTL Group, BitFury, Factom, Bitpay and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers.

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Blockchain In Insurance Industry Segmentation
By Application
• GRC Management
• Death & Claim Management
• Payments
• Identity Management & Fraud detection
• Smart Contracts
By Organization Size
• SMEs
• Large Scale

By Region
North America
• USA
• Canada
Europe
• Germany
• U.K.
• France
• Italy
• Rest of Europe
APAC
• China
• India
• Japan
• Rest of Asia-Pacific
RoW
• Latin America
• Middle East & Africa

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About Kenneth Research:

Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.

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