NEW YORK, June 23, 2021 /PRNewswire/ -- Technavio has been monitoring the insurance software market and it is poised to grow by USD 7.29 billion during 2021-2025, progressing at a CAGR of about 8% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
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Frequently Asked Questions:
Based on segmentation by deployment, which is the leading segment in the market? Cloud-based is the leading segment in the market.
At what rate is the market projected to grow? The market is projected to accelerate at a CAGR of about 8%.
Who are the top players in the market? Accenture Plc, Applied Systems Inc., Axxis Systems SA, Dell Technologies Inc., Guidewire Software Inc., Microsoft Corp., International Business Machines Corp., Oracle Corp., Salesforce.com Inc., and SAP SE are the top players in the market.
What are the key market drivers and challenges? The market is driven by the increased use of insurance in emergent countries. However, the tightening of the regulatory environment for insurance players will hamper the market growth.
How big is the APAC market? 36% of the market's growth will originate from APAC during the forecast period.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Accenture Plc, Applied Systems Inc., Axxis Systems SA, Dell Technologies Inc., Guidewire Software Inc., Microsoft Corp., International Business Machines Corp., Oracle Corp., Salesforce.com Inc., and SAP SE are some of the major market participants. Although the increased use of insurance in emergent countries will offer immense growth opportunities, tightening the regulatory environment for insurance players is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this insurance software market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
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Insurance Software Market 2021-2025: Segmentation
The insurance Software Market is segmented as below:
CAGR of the market during the forecast period 2021-2025
Detailed information on factors that will assist insurance software market growth during the next five years
Estimation of the insurance software market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the insurance software market across North America, APAC, Europe, MEA, and South America
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of insurance software market vendors
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Table of Contents:
Value chain analysis
Market segment analysis
Market size 2020
Market outlook: Forecast for 2020- 2025
Five Forces Analysis
Five forces summary
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market Segmentation by Deployment
Comparison by Deployment
On-premise - Market size and forecast 2020-2025
Cloud-based - Market size and forecast 2020-2025
Market opportunity by Deployment
North America - Market size and forecast 2020-2025
APAC - Market size and forecast 2020-2025
Europe - Market size and forecast 2020-2025
MEA - Market size and forecast 2020-2025
South America - Market size and forecast 2020-2025
Key leading countries
Market opportunity by geography
Market positioning of vendors
Applied Systems Inc.
Axxis Systems SA
Dell Technologies Inc.
Guidewire Software Inc.
International Business Machines Corp.
Scope of the report
Currency conversion rates for US$
List of abbreviations
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