openPR Logo
Press release

Blockchain in Insurance Market By Top Leading Companies: IBM Corporation, Oracle Inc., Microsoft Corporation, AWS, SAP SE, Earthport, BTL Group, Bitfury, Digital Asset Holdings, Factom, Auxesis Group, Bitpay, Circle, Cambridge Blockchain, Chainthat Limite

07-26-2019 11:05 AM CET | IT, New Media & Software

Press release from: Market Research Future

Blockchain in Insurance Market

Blockchain in Insurance Market

Market Highlights

The global blockchain in insurance market had a market value of USD 62.53 million in 2018 and is estimated to reach USD 1.42 billion by 2024, registering a CAGR of 69.72% during the forecast period 2019–2024. Market Research Future (MRFR) has segmented the blockchain in insurance market into type, service provider, organization size, application, sector, and region.

Increasing adoption of cloud-based solutions and services, increasing applications areas of IoT are some of the factors expected to create significant opportunities for the market in the coming years. Whereas, uncertain regulatory issues are one of the major challenges faced by the global blockchain in insurance market.

Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/7956

Key Players:

Blockchain in insurance market is expected to witness significant growth in the coming years owing to the presence of numerous large players active in the regional market. IBM Corporation, Oracle Inc., Microsoft Corporation, AWS, SAP SE, Earthport, BTL Group, Bitfury, Digital Asset Holdings, Factom, Auxesis Group, Bitpay, Circle, Cambridge Blockchain, Chainthat Limited, Blockcypher, Safeshare Global, Everledger, Consensys, Guardtime, Symbiont, Recordskeeper, Applied Blockchain, Algorythmix, and Ixledger are the companies leading the Blockchain in insurance market globally.

Segmentation:

By type, the blockchain in insurance market has been sub-segmented into public blockchain, private blockchain, and consortium or federated blockchain. Among these, currently, public blockchain is dominating the market as blocks in this type are verified one after another and cannot be modified, which makes it a highly secured blockchain type. However, public blockchain is an open network where anyone can access the block and read it, which is one of the challenges faced by it. Whereas, consortium blockchain is projected to witness a high growth rate in the coming years as it validates the blocks based on pre-defined rules made by a federation of blockchain, which increases the security level of the blocks.

By service providers, the market has been segmented into application & solution providers, middleware service providers, and infrastructure & protocols providers. Among these, the infrastructure & protocols providers segment is dominating the market due to increasing demand from banks, finance, and insurance service providers for advanced and secured infrastructure in order to deploy blockchain solutions. Whereas, application and solution providers are projected to register the highest CAGR during the forecast period due to the rising adoption of cloud-based services and secured network gateways for money transactions by end users.

By organization size, the blockchain in insurance market has been segmented into SMEs and large enterprises. Among these, large enterprises segment has contributed the highest in terms of revenue generation for the market due to high investments in developing skilled expertise for blockchain technology. Whereas, SMEs are projected to witness a high growth rate in the coming years.

By application, the market has been segmented into fraud detection & risk prevention, property & casualty insurance, smart contracts, GRC management, and reinsurance. Among these, the smart contracts segment is dominating the market as it enhances the security of information by benefitting information blocks with verification at low cost and by reducing the risk of frauds and security breaches. The fraud detection & risk prevention segment is projected to register the highest growth rate in the coming years due to the increasing adoption of advanced security solutions of blockchain in order to minimize the risk of frauds and duplication of data presented in the blocks.

By sector, the market has been segmented into life insurance and health insurance, title insurance, and auto insurance, and others. Among these, life insurance and health insurance sector are leading the market owing to factors such as developing network and security platforms for claim registration and assessment process and payment & closure process. However, due to the low interest rates provided by the insurance companies, the market is expected to witness a decline in growth rate during the forecast period.

Regional Analysis:

By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America has been further segmented into the US, Canada, and Mexico. Europe has been further segmented into Germany, the UK, France, Spain, and Italy. Asia-Pacific has been sub-segmented into China, Japan, India, Singapore, Australia, and South Korea. And, the rest of the world has been classified into the Middle East & Africa and South America.

Browse Complete Report @ https://www.marketresearchfuture.com/reports/blockchain-insurance-market-7956

List of Tables

Table 1 Blockchain In Insurance Market, By Region, 2019–2024

Table 2 North America: Blockchain In Insurance Market, By Country, 2019–2024

Table 3 Europe: Blockchain In Insurance Market, By Country, 2019–2024

Table 4 Asia-Pacific: Blockchain In Insurance Market, By Country, 2019–2024

Table 5 Rest Of The World: Blockchain In Insurance Market, By Region, 2019–2024

Table 6 North America: Blockchain In Insurance Market Type Market, By Country, 2019–2024

Table 7 Europe: Blockchain In Insurance Market Type Market, By Country, 2019–2024

Table 8 Asia-Pacific: Blockchain In Insurance Market Type Market, By Country, 2019–2024

Table 9 Rest Of The World: Blockchain In Insurance Market Type Market, By Region, 2019–2024

Table 10 Global Blockchain In Insurance Market Type Market, By Region, 2019–2024

Office No. 528, Amanora Chambers

About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Blockchain in Insurance Market By Top Leading Companies: IBM Corporation, Oracle Inc., Microsoft Corporation, AWS, SAP SE, Earthport, BTL Group, Bitfury, Digital Asset Holdings, Factom, Auxesis Group, Bitpay, Circle, Cambridge Blockchain, Chainthat Limite here

News-ID: 1812351 • Views: 217

More Releases from Market Research Future

Medical Aesthetics Industry Size, Market Growth, Key Company Profile, Comprehens …
The “Global Medical Aesthetics Market Is Showing High Probabilities Of Achieving A CAGR Of 11% Between 2018 And 2023”. Medical aesthetics Industry covers the aesthetical aspect of the healthcare sector and includes well-being, noticeable skin changes, peripheral appearance, and image of the patient. Medical aesthetics include fuses beauty and healthcare services and are getting substantial traction not just from demand for upliftment of the looks but anti-aging as well. There are several
Clinical Trial Management System Market Demand, Industry Share, Size, Applicatio …
Clinical Trial Management System Market Analysis by Type (Enterprise Clinical Trial Management System), Delivery Model (Licensed Enterprise), Component (Service) and End-User (Medical Device Manufacturers), and Regional Competitive Share, Size and Trends, 2018-2023 Market Overview Clinical Trial Management System Market is mostly a software system which helps to plan, prepare, and manage a large amount of clinical trials data that is produced by biotechnological and pharmaceutical companies. Drug research has gained momentum in
Reusable Satellite Launch Vehicle (RSLV) Market 2019-2023 | Report Information b …
Global Reusable Satellite Launch Vehicle Market Report Information by Configuration (Single Stage, Multiple Stage), by Type (Partially Reusable, Fully Reusable), Vehicle Weight (Up to 4,000lbs, 4000-9000lbs, Over 9000lbs), & by Region - Forecast Till 2023 The Reusable satellite launch vehicle market is estimated to witness a CAGR of more than 12% during the forecast period from 2018 to 2023. The key players in the reusable satellite launch vehicle market are Airbus S.A.S
Bakery Enzymes Market Global Research Report and Top Key Players: AB Enzymes Gmb …
Market Overview The increasing demand for bakery products in the food and beverage industry including, bread, cookies, and pastries are raising the demand for bakery enzymes at a global level. Enzymes are an important ingredient used in most bakery products. There are two scenarios regarding the use of enzymes, either the enzymes are used to convert the raw material into the main product, or the enzymes are used as additives to

All 5 Releases


More Releases for Blockchain

Blockchain in Retail Market
Blockchain or the distributed ledger technology is serving the retail industry for transforming the product processes.There is an increasing need for transparency for the product processes and for meeting the demand by the retail industry. This has majorly driven the blockchain in retail market. Further, factors including rising need for reduction of redundant data and rising need for limiting the total cost of ownership have supplemented the demand for blockchain
Timeus blockchain 3.0
Timeus is verified blockchain that can be base of laws drafting. Smart contracts are like legal contracts, states are able to collect taxes and to monitor transactions etc. Timeus uses unique consensus, we called it proof of fortuity (POF). Every block is verified with master node which chosen randomly. Each node is low nodes cluster. Low node is allocated by consumers HDD space and low-node is backup of certain other
Blockchain Help—Services Page
Blockchain Help, since its inception, has been providing cutting-edge technology solutions and in-depth domain expertise in bitcoins, blockchain development, ICO launches and cryptocurrency development. Ably supported by an exceptionally talented and experienced team of technocrats, Blockchain Help is quickly gaining recognition as the one-stop solution to everything related to blockchain and cryptocurrencies. Why choose Blockchain Help? • 10+ years of programming expertise • Extensive experience in blockchain technology solutions across industry sectors • Competitive pricing • 3 months of
New Technology Snapshot: Blockchain
The Blockchain Technology Snapshot is a deep-dive report, developed by industry experts and thought leaders, which assesses how emerging technologies are re-shaping industrial and consumer sectors and the services. The report provides a snapshot of recent developments in the blockchain, its core uses beyond cryptos, and the emerging importance of smart contracts and distributed applications. Furthermore, the report looks at innovative companies in the blockchain area, by providing examples of
Oodles Blockchain Uses Top Blockchain Platforms To Expedite Blockchain Adoption
With an aim to leverage the blockchain technology to change the centralized system and make it decentralized, Oodles Blockchain has decided to use top blockchain platforms to develop consumer-based blockchain applications. Oodles Blockchain, a micro-website of Oodles Technologies, developed mainly to focus on blockchain technology, is delighted to announce that it will be expanding its horizon of blockchain development services by using a few latest open source blockchain platforms like
Blockchain in Insurance: MarketResearchReports.Biz
Recent research and the current scenario as well as future market potential of "Blockchain in Insurance" globally. Summary Blockchain technology, often referred to as distributed ledger technology (or DLT), is a means by which the participants in a distributed network can each maintain a copy of an immutable ledger of transactions, and where transactions can be executed without the need for a single, central, coordinating authority. We are not suggesting universal uptake of