Report overview
Insurance firms in the US are deploying several big data and analytics technologies for effective risk and compliance management. Analytics solutions help insurance firms to increase their profitability and competitiveness in both domestic and global insurance markets.
This report aims to provide a comprehensive presentation of the global market for Insurance IT Spending, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Insurance IT Spending. This report contains market size and forecasts of Insurance IT Spending in global, including the following market information:
Global Insurance IT Spending Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global top five companies in 2022 (%)
The global Insurance IT Spending market was valued at US$ million in 2022 and is projected to reach US$ million by 2029, at a CAGR of % during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
The increased application of advanced analytical tools such as descriptive, predictive, and prescriptive analytical solutions has helped insurance firms to obtain accurate estimation of the highly demanded products. Increased adoption of social media monitoring and analytical tools in the insurance sector will result in the elevated sale of insurance products in the coming years.
We surveyed the Insurance IT Spending companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Insurance IT Spending Market, by Type, 2018-2023, 2024-2029 ($ millions)
Global Insurance IT Spending Market Segment Percentages, by Type, 2022 (%)
Software Spending
Hardware Spending
IT Services Spending
Global Insurance IT Spending Market, by Application, 2018-2023, 2024-2029 ($ millions)
Global Insurance IT Spending Market Segment Percentages, by Application, 2022 (%)
Accident and Health
Life and Annuity
Reinsurance
Commercial Property/Casualty
Personal Property/Casualty
Enterprise Utilities
Others
Global Insurance IT Spending Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions)
Global Insurance IT Spending Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Insurance IT Spending revenues in global market, 2018-2023 (estimated), ($ millions)
Key companies Insurance IT Spending revenues share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
Accenture
CSC
Fiserv
Guidewire Software
Oracle
Andesa
Cognizant
EXL Service
FIS
Genpact
Majesco
Microsoft
Pegasystems
SAP
StoneRiver
Outline of Major Chapters:
Chapter 1: Introduces the definition of Insurance IT Spending, market overview.
Chapter 2: Global Insurance IT Spending market size in revenue.
Chapter 3: Detailed analysis of Insurance IT Spending company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Insurance IT Spending in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.
