Market Survey Report Examines Global Logistics Insurance Market That Will Grow At A CAGR of XX.X% by 2021

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This market research report delves deep into the global Logistics Insurance market. It highlights the recent market scenario, growth in the past few years, and opportunities for manufacturers in the future. The research methods and tools used in the completion of this study are both primary and secondary research. The study further presents details on the investments initiated by several organizations, institutions, government, and non-government bodies.

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Given the scenario, growth witnessed in the global market might shrink in the coming years. According to the report, the Global Logistics Insurance Market, which stood at US$XX mn in 2017, is anticipated to reach US$XX bn by the end of 2025. If these figures hold true, the global market will exhibit a CAGR of XX% between 2017 and 2025.

The various factors supporting the market’s trajectory and those posing threat are studied in the report in detail. Furthermore, the market study segments the Global Logistics Insurance Market based on application and industry chain structure. In these sections, it covers various factors influencing the market’s trajectory across the segments. Furthermore, it identifies the most profitable of them all to help investors take the well-versed decision.

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The global logistics insurance market will grow at a CAGR of more than 2% during the forecast period. The increase in number of cargo thefts is one of the key factors that will boost the market’s growth prospects during the projected period. It has been observed that during 2015, the total loss caused by cargo theft amounted to more than USD 20 billion. In the same year, Brazil witnessed the highest incidents of cargo theft of around 7,000 to 8,000, which was the highest in the last 20 years. This resulted due to the overall economic crisis in Brazil due to the decline in number of employed people. In Venezuela, the deteriorating political and economic situations are resulting in the increasing number of cargo thefts. The UK, Germany, the Netherlands, Brazil, Belgium, and Venezuela are some of the countries where cargo theft is quite prevalent.

The logistics insurance market is fragmented due to the presence of many vendors. Developed countries such as Singapore in APAC have vendors such as AGCS and Aon that offer a full range of services under logistics insurance. To enhance their revenue shares and improve their market positions the vendors in this marketspace are increasingly adopting strategies such as mergers and acquisitions.

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