Travel Insurance Market: Global Market Size, Forecast, Insights, and Competitive Landscape

Travel Insurance Market: Global Market Size, Forecast, Insights, and Competitive Landscape
The global travel insurance market is expected to grow at a CAGR of around 8.0% during 2023-2030. This report on global travel insurance market report provides holistic understanding of the market along with market sizing, forecast, drivers, challenges, and competitive landscape. The report presents a clear picture of the global travel insurance market by segmenting the market based on insurance type, coverage, distributional channel, end-user, and region. Also, detailed profiles of companies operating in the travel insurance market are provided in this report. We believe that this report will aid the professionals and industry stakeholders in making informed decision.

Market Drivers

• Increasing Spending on Travel Protection Plans
• Mandatory Travel Insurance Policies in North America & Europe
• Growth in Tourism Industry in Latin America & MEA

Market Challenges

• Decline in International Travelling Activities due to Coronavirus Pandemics
• Lack of Consumer Experiences in Terms of its Coverages and Premium Rates

Historical & Forecast Period

Base Year: 2022
Historical Period: 2018-2022
Forecast Period: 2023-2030

Market by Insurance Type

• Single-Trip Travel Insurance
• Annual Multi-Trip Insurance
• Long-Stay Travel Insurance

Market by Coverage

• Medical Expenses
• Trip Cancellation
• Trip Delay
• Property Damage
• Others

Market by Distribution Channel

• Insurance Intermediaries
• Banks
• Insurance Companies
• Insurance Aggregators
• Insurance Brokers
• Others

Market by End-User

• Senior Citizens
• Education Travelers
• Business Travelers
• Family Travelers
• Others

Market by Region

• Europe
Germany
United Kingdom
France
Italy
Spain
Russia
Netherlands
Rest of Europe
• North America
United States
Canada
• Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Rest of Asia Pacific
• Latin America
Mexico
Brazil
Argentina
Rest of Latin America
• Middle East & Africa
Saudi Arabia
Turkey
Iran
United Arab Emirates
Rest of Middle East & Africa