Technological Advancements and Innovations to Fuel Growth Prospects across B2B2C Insurance Market between 2020 and 2030: TMR
- The escalating awareness among the consumers about the importance of insurance and an increase in insurance companies across the globe may bring extensive growth prospects for the global B2B2C insurance market during the assessment period of 2020-2030
- The B2B2C insurance market is expected to expand at a CAGR of ~9 percent across 2020-2030
ALBANY, N.Y, Nov. 5, 2020 /PRNewswire/ -- The rise of banc assurance has been witnessed across the world for a long time. Similarly, B2B2C insurance is inviting extensive growth prospects. B2B2C insurance can be defined as sales of life insurance and non-life insurance products.
Digital platforms are assisting companies in the B2B2C insurance market to understand customers. The rise in technological advancements across the B2B2C insurance sector through mobile apps and websites is increasing the growth rate.
Based on a plethora of factors and the extensive analysis by the researchers at Transparency Market Research, the global B2B2C insurance market is expected to expand at a CAGR of ~9 percent across the forecast period of 2020-2030. The B2B2C insurance market was valued at US$ 677.8 bn in 2019 and is expected to reach a valuation of US$ 1.5 trn by the end of the forecast period.
Technological advancements and digital access enable the B2B2C insurance to fit easier into partner ecosystems. This factor will open new growth avenues across the B2B2C insurance market. B2B2C insurance enables collaboration, align competencies, and forge resilient partnerships to overcome any obstacle faced by businesses from circumstances like COVID-19. This aspect may invite enormous growth prospects.
The analysts at Transparency Market Research (TMR) opine that artificial intelligence and advanced analytics are assisting to enable increased limpidity in business activities. The analysts also highlight the revival of business by insurance companies by increasing their focus on e-commerce and mobile apps.
However, the analysts also shed light on the need for customers and distributors who are well-versed with omnichannel platforms. The analysts advise the companies to tap into business opportunities in utility industries and material manufacturing to expand the growth prospects across the B2B2C insurance market.
B2B2C Insurance Market: Major Findings
Asia Pacific may gain a prominent position across the assessment period of 2020-2030
India, Australia, and China may help Asia Pacific's B2B2C insurance market to gain exponential growth
Europe and North America may acquire a major growth share for the B2B2C insurance market through the forecast period
The B2B2C insurance market in South America and the Middle East and Africa are also estimated to flourish at a rapid pace
Explore 159 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into theB2B2C Insurance Market (Type: Life Insurance and Non-Life Insurance; Nature of Business: Brick & Mortar, e-Commerce, Multi-channel, Non-commercial, and Service Company; Company Size: Large Enterprise and Small & Medium Enterprise; Distribution Channel: Online and Offline; Industry: Banks & Financial Institutions, Automotive, Utilities, Retailers, Travel, Housing, Lifestyle, and Telecom; and Geographic Scope: National, Multi-country, Regional, and Global) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030 at https://www.transparencymarketresearch.com/b2b2c-insurance-market.html
B2B2C Insurance Market: Growth Accelerators
The expansive popularity of B2B2C insurance among a massive consumer base may bring promising growth prospects for the B2B2C insurance market.
Improved innovations in the B2B2C insurance sector may boost the growth rate to a great extent
The rising disposable income and rapid urbanization across diverse regions may harness the growth of the B2B2C insurance market
Analyze global B2B2C insurance market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
B2B2C Insurance Market: Regional Prospects
Asia Pacific may emerge as a champion in terms of regional growth on the back of the penetration of multinational companies, a swift rise in premium insurance sales, and the rising awareness about the benefits of insurance among the citizens of densely populated regions like India and China. Europe and North America may also gain a significant position. South America and the Middle East and Africa may also gain promising growth for the B2B2C insurance market.
Term Insurance Market – The global term insurance market is expected to grow at a moderate CAGR of ~4% during the forecast period. The market growth is primarily driven by a range of factors, including rising middle-class population in developing regions, availability of a range of bespoke term insurance covers, and advent of new digital sales channels. Market players should largely focus on devising effective marketing strategies, along with building customer relationships by finding a value proposition to establish a solid foothold in the current market landscape.
Electrical Safety Products Market – The global electrical safety products market is expected to expand at a healthy CAGR of ~7% during the forecast period. The market growth can be primarily attributed to increasing number of electrical safety-related cases worldwide, stringent guidelines pertaining to workforce safety, launch of a number of companies involved in the production of electrical safety products, and rising research and development spending to discover the best material with optimum properties.
Video Capture Card Market – Live streaming in churches amidst the coronavirus pandemic is proving to be beneficial with the growing trend of online video streaming and conferencing. High-end and competitive gamers are emerging as the key target audience for video capture cards. However, these capture cards have limitations in flexibility, if users do not have dual monitors while gaming. Hence, companies in the video capture card market should increase awareness about multiple-platform streaming and high-quality recording of videos that tend to offset its limitations. The growing trend of training videos and video conferencing is creating value-grab opportunities for manufacturers.
About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.