Global Insurance IT Spending Market Size, Status and Forecast 2019-2025
Wiseguyreports.Com Adds "Insurance IT Spending – Market Demand, Growth, Opportunities, Manufacturers and Analysis of Top Key Players to 2025" To Its Research Database
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. 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. In 2018, the global Insurance IT Spending market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2019-2025.
This report focuses on the global Insurance IT Spending status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Insurance IT Spending development in United States, Europe and China.
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The key players covered in this study Accenture CSC Fiserv Guidewire Software Oracle Andesa Cognizant EXL Service FIS Genpact Majesco Microsoft Pegasystems SAP StoneRiver
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Market segment by Type, the product can be split into Software spending Hardware spending IT services spending
Market segment by Application, split into Commercial P&C insurance Personal P&C insurance Health and medical insurance Life and accident insurance Insurance administration and risk consulting Annuities
Market segment by Regions/Countries, this report covers United States Europe China Japan Southeast Asia India Central & South America
The study objectives of this report are: To analyze global Insurance IT Spending status, future forecast, growth opportunity, key market and key players. To present the Insurance IT Spending development in United States, Europe and China. To strategically profile the key players and comprehensively analyze their development plan and strategies. To define, describe and forecast the market by product type, market and key regions.
In this study, the years considered to estimate the market size of Insurance IT Spending are as follows: History Year: 2014-2018 Base Year: 2018 Estimated Year: 2019 Forecast Year 2019 to 2025 For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
The global economic development has led to rapid developments in the financial services industry. Increasing investments, capital generation, revenue growth, etc. has encouraged the expansion of the industry on the global front. The growth of the developing nations is anticipated to attract massive investments from governments, national, and international investors. In addition, the expansion of core industries such as real estate, automotive, etc. is projected to boost the proliferation of the industry over the next couple of years. Also, the favorable laws implemented by the governments are expected to drive the industry's growth in the foreseeable future.
Digital transformation is one of the key factors expected to catapult the industry on upward trajectory. The integration of low-cost technology with the existing workflow is likely to revolutionize the growth pattern of the industry in the years to come. In addition, it also offers cost-effectiveness and efficiency, which is projected to dictate the future trajectory of the industry. Industry leaders are leveraging technological advancements such as chat bots, Artificial Intelligence (AI), etc. for staying ahead of the curve.
Major Key Points in Table of Content
1 Report Overview
2 Global Growth Trends
3 Market Share by Key Players
4 Breakdown Data by Type and Application
5 United States
9 Southeast Asia
11 Central & South America
12 International Players Profiles
13 Market Forecast 2019-2025