Global Artificial Intelligence (AI) in Insurance Market – Industry Trends and Forecast to 2028

  • ICT
  • Upcoming Report
  • May 2021
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Artificial Intelligence (AI) in Insurance Market, By Component (Hardware, Software, Services), Technology (Machine Learning and Deep Learning, Natural Language Processing (NLP), Machine Vision, Robotic Automation), Deployment Model (0n-Premises, Cloud), Application (Claims Management, Risk Management and Compliance, Chatbots, Others), Sector (Life Insurance, Health Insurance, Title Insurance, Auto Insurance, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028

Artificial Intelligence (AI) in Insurance Market Market Analysis and Insights : Global Artificial Intelligence (AI) in Insurance Market  

The artificial intelligence (AI) in insurance market size is valued at USD 6.92 billion by 2028 and is expected to grow at a compound annual growth rate of 24.05% in the forecast period of 2021 to 2028. Data Bridge Market Research report on artificial intelligence (AI) in insurance provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.

Artificial intelligence will transfigure the insurance industry. AI technologies such as machine learning and deep learning, machine vision, natural language processing (NLP) and robotic automation have the potential to reimagine the complete insurance lifecycle from customer procurement to claims processing.

The growing need to offer personalized insurance services have been directly influencing the growth of artificial intelligence (AI) in insurance market over the forecast period of 2021 to 2028. Also the increasing need to automate the operational process and rising volume and speed of data generation with the adoption of IoT are also flourishing the growth of the artificial intelligence (AI) in insurance market. Also the rapid increase in government initiatives supporting digitalization is also positively impacting the growth of the market. Furthermore, the growing investments on advanced technologies such as AI and IoT is also acting as an active growth driver towards the growth of the artificial intelligence (AI) in insurance market. Moreover, the strong presence of highly skilled workforce in enterprises and research and development capabilities, intended at developing AI technologies for enhancing the quality of the insurance process is creating a huge demand for artificial intelligence (AI) in insurance as well as lifting the growth of the artificial intelligence (AI) in insurance market.

However, the lack of skilled employees as well as the various complexities in implementation are acting as the major restrictions for the growth of artificial intelligence (AI) in insurance in the above mentioned forecasted period, whereas the high risks related to data leaks and security breaches can challenge the artificial intelligence (AI) in insurance market growth in the forecast period of 2021 to 2028.

Likewise, the rising adoption of IoT technologies along with rapid advancements in machine learning and deep learning algorithms will further cater ample new opportunities that will lead to the growth of the artificial intelligence (AI) in insurance market in the above mentioned forecasted period.

This artificial intelligence (AI) in insurance market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the artificial intelligence (AI) in insurance market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Artificial Intelligence (AI) in Insurance Market Scope and Market Size

The artificial intelligence (AI) in insurance market is segmented on the basis of component, technology, deployment model, application and sector. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

  • The component segment of the artificial intelligence (AI) in insurance market is segmented into hardware, software and services.
  • On the basis of technology, the artificial intelligence (AI) in insurance market is segmented into machine learning and deep learning, natural language processing (NLP), machine vision and robotic automation.
  • On the basis of deployment model, the artificial intelligence (AI) in insurance market is segmented into on-premises and cloud.
  • The artificial intelligence (AI) in insurance market is segmented on the basis of application into claims management, risk management and compliance, chatbots and others.
  • On the basis of sector, the artificial intelligence (AI) in insurance market is segmented into life insurance, health insurance, title insurance, auto insurance and others.

Artificial Intelligence (AI) in Insurance Market Country Level Analysis

The artificial intelligence (AI) in insurance market is analyzed and market size, volume information is provided by country, component, technology, deployment model, application and sector as referenced above.

The countries covered in the artificial intelligence (AI) in insurance market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).

North America leads the artificial intelligence (AI) in insurance market due to the early adoption of new technologies and hub to several AI solution providers in the region. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 because of the rising government initiatives supporting digitalization and increasing investments on advanced technologies such as AI and IoT are raising the demand for AI across the insurance industry within this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Artificial Intelligence (AI) in Insurance Market Share Analysis

The artificial intelligence (AI) in insurance market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to artificial intelligence (AI) in insurance market.

The major players covered in the artificial intelligence (AI) in insurance market report are IBM, Microsoft, Amazon Web Services Inc., Avaamo, Oracle, Cape Analytics, LLC, Wipro Limited, Acko General Insurance, Shift Technology, Quantemplate, Zurich, Lemonade, Trōv, Inc., Slice Insurance Technologies Inc., Insurify, Inc., Insurmi, Planck Resolution LTD., Tractable Ltd., Google, and Infosys Limited among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

Customization Available : Global Artificial Intelligence (AI) in Insurance Market

Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.


SKU-

Please fill in the below form for detailed Table of Content

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for detailed List of Table

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for detailed List of Figure

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

CHOOSE LICENCE TYPE
  • 7000.00
  • 4800.00
  • 3000.00
  • 8000.00
  • 12000.00
Why Choose Us
Unlocking New Opportunities on this Report Post Covid-19

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions