recent report published by Infinium Global Research on the commercial insurance
market provides an in-depth analysis of segments and sub-segments in the global as
well as regional commercial insurance market. The study also highlights the
impact of drivers, restraints, and macro indicators on the global and regional
commercial insurance market over the short term as well as long term. The
report is a comprehensive presentation of trends, forecast and dollar values of the global commercial insurance market. According to the report, the global
commercial insurance market is projected to grow at a CAGR of 4.29% over the
forecast period of 2021-2027.
commercial insurance market was valued at USD 825.2 billion in 2020 and is
expected to reach USD 1088.9 billion in 2027, growing with a CAGR of 4.29%
during the forecast period. Commercial insurance is a type of insurance that
offers insurance to large, small, and medium enterprises and protects them from
unwanted risks. Furthermore, this commercial insurance might comprise property
damages, a decrease in income owing to other businesses, robbery, legal issues,
and employee objections. It also delivers solutions to provide safety to
business operations at the time of necessity. In addition, commercial insurance
provides coverage for different industrial sectors such as manufacturing, IT
& telecom, logistics, retail, construction, healthcare, and many others.
increase in the demand for commercial insurance policies among small and
medium-sized enterprises is projected to drive the growth of the market during
the forecast period. Furthermore, owing to the significant effect of the
COVID-19 outbreak on business firms, the need for insurance policies has
augmented gradually and has become an essential factor for heightening the global
commercial insurance market. Moreover, owing to a large number of commercial
insurance providers, the market is anticipated to have a positive impact during
the projection timeframe. With such a maximum number of insurance companies to
choose from, there is ferocious rivalry among them to offer a wide range of
coverage for businesses of all kinds. However, the high commercial insurance
premiums and a dearth of commercial insurance knowledge among small businesses
are two factors hindering market growth.
the geographies, the North American region is expected to hold the largest
share in the global commercial insurance market owing to the growing industries
across the region. The United States and Canada are anticipated to be the major
revenue contributors in the North American commercial insurance market.
Furthermore, the Asia Pacific region is projected to grow at the fastest rate
in the global commercial insurance market during the projection period, owing
to its growing industrialization across the region. Rapid economic
developments, globalization, digitalization, and the increased adoption of
technologies are anticipated to drive the commercial insurance market in the
Asia Pacific region.
report on the global commercial insurance market covers segments such as type,
distribution channel, enterprise size, and industry vertical. On the basis of
type, the sub-markets include commercial motor insurance, commercial property
insurance, liability insurance, marine insurance, and others. On the basis of
distribution channel, the sub-markets include agents & brokers, direct
response, and others. On the basis of enterprise size, the sub-markets include
large enterprises, and smes. On the basis of industry vertical, the sub-markets
include construction, IT & telecom, healthcare, energy & utilities,
transportation & logistics, and others.
report provides profiles of the companies in the market such as Allianz,
American International Group, Inc., Aon plc, Aviva, AXA, Chubb, Direct Line
Insurance Group plc, Marsh, Willis Towers Watson, and Zurich.
report provides deep insights into the demand forecasts, market trends, and
micro and macro indicators. In addition, this report provides insights into the
factors that are driving and restraining the growth in this market. Moreover,
The IGR-Growth Matrix analysis given in the report brings an insight into the
investment areas that existing or new market players can consider. The report
provides insights into the market using analytical tools such as Porter's five
forces analysis and DRO analysis of the commercial insurance market. Moreover, the
study highlights current market trends and provides forecast from 2021-2027. We
also have highlighted future trends in the market that will affect the demand
during the forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.