Blockchain in Insurance Market will witness a 61.2% CAGR, Top Key Players and Forecast to 2030

PUNE, MAHARASHTRA, INDIA, July 20, 2024 /EINPresswire.com/ -- According to HTF MI, Global Blockchain in Insurance Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2030". The Global Blockchain in Insurance Market is anticipated to grow at a compound annual growth rate (CAGR) of 61.2% from 2024 to 2030, reaching USD 64.5 Billion in 2024 and USD 88.95 Billion by 2030.

Blockchain in insurance refers to the application of blockchain technology to the insurance industry, providing a secure, transparent, and efficient way to manage and process insurance policies, claims, and transactions.

Key and developing players who have been highlighted as part of the coverage include Chainlink (United States), Consensys (United States), Deloitte (United States), Etherisc (Switzerland), Guardtime (Estonia), IBM (United States), Kaleido (United States), Lemonade (United States), Munich Re (Germany), Nationwide (United States), Tierion (United States), Others.


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Blockchain in Insurance

Market Drivers
• Increased Demand for Transparency: Clients demand more transparency in insurance operations.

Market Trend
• Fraud Detection: Improved fraud prevention through immutable records and transparent transactions.

Market Opportunities
• New Business Models: Development of innovative insurance products and services.

Market Restraints
• Regulatory Uncertainty: Lack of clear regulations and guidelines.

Market Challenges
• Technical Expertise: Shortage of skilled professionals in blockchain technology.

Key Market Segmentation:
The report has categorized the Blockchain in Insurance market based on type, distribution channel, and region.


Market Breakdown by Applications:
• Consortium Or Federated Blockchain, Public Blockchain, Private Blockchain
Market Breakdown by Types:
• GRC Management, Death And Claims Management, Identity Management And Fraud Detection, Payments, Smart Contracts, Others
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Competitive Landscape:
Along with studying the profiles of the key players, the industry's competitive environment has also been examined. Players profiled are Chainlink (United States), Consensys (United States), Deloitte (United States), Etherisc (Switzerland), Guardtime (Estonia), IBM (United States), Kaleido (United States), Lemonade (United States), Munich Re (Germany), Nationwide (United States), Tierion (United States), Others
Report Scope
The Market size value in 2024 (USD 64.5 Billion) Revenue Forecast by 2033 (USD 88.9 Billion)
Growth Rate CAGR Of (61.20%) Historical Years (2019-2023)
Base Year (2023)
Estimated Year (2024)
Short-Term Projection Year (2030)

Regions Covered (North America, Europe, the Middle East and Africa, Latin America, and the rest of the world)

Note: With the help of the Growth Overview Charts, Historical Period Analysis, Forecast Period Analysis, Main Market Segmentation, Leading Key Market Players, TOC, List of Figures, and List of Tables in this report, you can get a thorough overview of the market.


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Criag Francis
HTF Market Intelligence Consulting Pvt Ltd
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