Blockchain technology expert Don & Alex Tapscott, authors Blockchain Revolution asserts, “The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”
Dallas, TX -- (SBWIRE) -- 08/16/2018 -- Global Blockchain In Insurance Market to reach USD 4315.1 million by 2025.
Global Blockchain In Insurance Market valued approximately USD 17 million in 2016 is anticipated to grow with a healthy growth rate of more than 85% over the forecast period 2017-2025.
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The major growth drivers of the market include the emerging need to have transparent and trustworthy systems, and the overall trends witnessed in the insurance sector related to increase in claims-related frauds. Companies, mostly large enterprises, get venture funding to develop supportive infrastructure for blockchain integration. Large enterprises are expected to dominate the market in terms of market share, as such enterprises are continuously investing in their R&D activities to improve their overall performance and provide customer satisfaction. However, the Small and Medium-sized Enterprises (SMEs) segment is expected to exhibit a higher CAGR, owing to the availability of blockchain-as-a-service, provided by vendors operating in the market, which minimizes infrastructure development costs.
North America is expected to continue to dominate the market during the forecast period. The APAC region is expected to grow at the highest CAGR during the forecast period, owing to Increase in digitalization, humungous growth of IoT, and an increase in BaaS service providers in the region. Factors such as growing number of fraudulent insurance claims, increasing need to have transparent and trustworthy systems, and focus on reducing total cost of ownership are expected to drive the growth of the global blockchain in insurance market.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Death & Claim Management
Identity Management & Fraud detection
By Organization Size:
Rest of the World
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Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
The industry is seeming to be fairly competitive.
Some of the leading market players include:-
IBM, Oracle, Microsoft, AWS, SAP., Earthport, BTL Group, BitFury, Factom, Bitpay and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Major Point from Table of Content:
Chapter 1.Global Blockchain in Insurance Market Definition and Scope
1.1. Research Objective
1.2. Market Definition
1.3. Scope of The Study
1.4. Years Considered for The Study
1.5. Currency Conversion Rates
1.6. Report Limitation
Chapter 2.Research Methodology
2.1. Research Process
2.1.1. Data Mining
2.1.3. Market Estimation
2.2. Research Assumption
Chapter 3.Executive Summary
3.1. Global & Segmental Market Estimates & Forecasts, 2015-2025 (USD Billion)
3.2. Key Trends
Chapter 4.Global Blockchain in Insurance Market Dynamics
4.1. Growth Prospects
4.2. Industry Analysis
4.2.1. Porter's 5 Force Model
4.2.2. PEST Analysis
4.2.3. Value Chain Analysis
4.3. Analyst Recommendation & Conclusion
Chapter 5.Global Blockchain in Insurance Market, By Application
Chapter 6.Global Blockchain in Insurance Market, By Organization Size
Chapter 7.Global Blockchain in Insurance Market, by Regional Analysis
Chapter 8.Competitive Intelligence
8.1. Company Market Share (Subject to Data Availability)
8.2. Top Market Strategies
8.3. Company Profiles
184.108.40.206.Financial (Subject to Data Availability)
8.3.7. BTL Group
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