Logistics Insurance Market Scenario and Growth Prospects 2022
The Global Logistics Insurance market size was valued at USD 67.11 Billion in 2021 and is projected to reach USD 78.69 Billion by 2028, growing at a CAGR of 2.3% from 2022 to 2028.
Logistics Insurance is a type of insurance policy that is specifically designed to cover commodities in any mode of transportation, including air, sea, land, and train. It protects cargo against a wide range of physical losses or damage to freight caused by external causes while in transit. The goods are transported around the world by land, sea, train, or air. The likelihood of hauled items and products being lost or destroyed during the journey is extremely high. In these cases, cargo insurance can help by covering the loss.
Read Full Research Report: -
The expansion of import-export operations among nations is the result of increased trade contacts among various nations. Physical damage to items as a result of mishaps caused by outside sources such as bad weather, rotten goods, technical flaws, and others. To avoid such occurrences, business owners obtain logistics insurance to protect themselves against such damaged goods, which are of high value because they are exported from multiple countries. Global trade is expected to grow by 23% from 2020 to approximately USD 28 trillion in 2021, according to the United Nations Conference on Trade and Development.
Blockchain has the potential to improve global trade efficiency by significantly reducing bureaucracy and paperwork. A multi-stakeholder process with a lengthy paper trail, for example, could be replaced with an automated process that stores information in a tamper-evident digital format. Insurance, legal, brokerage, and settlement services are examples of automation services that currently require an intermediary. Blockchain technology could be used to track a product's lifecycle and ownership transfer from manufacturer to store shelf, even as it passes through the hands of the manufacturer, logistics service provider, wholesaler, retailer, and consumer.
Acquire PDF Sample Report + All Related thorough TOC, Graphs and Tables of Global Logistics Insurance Market Now:
By Type, the Marine Cargo Insurance segment dominates the Logistics Insurance Market. The foundation of international trade and the world economy is maritime transit. More than 80% of products traded internationally are transported by sea, and this proportion is significantly higher for the majority of developing nations. A marine cargo insurance policy offers comprehensive coverage against all the potential marine-related perils that the goods are exposed to while they are in transit.
By Coverage Type, Cargo Insurance dominates the Logistics Insurance Market. The most common kind of insurance used to protect shipments from physical harm or theft is cargo insurance. The value of the objects is guaranteed against damage that occurs during transport due to a well-protected cargo insurance policy. Because there is never an assurance that the goods won't be damaged, cargo insurance is crucial.
By End User, the Enterprise segment dominates the Logistics Insurance Market. Generally, special insurance coverage is made on the bulk cargos which are made by large enterprises for the long-haul transportation for an end to end coverage of their goods. Due to the high volume of goods, the risk of losses is greater and companies and trading enterprises are highly unlikely to neglect such risk. Therefore, logistics insurance has a large clientele that deals with bulk cargo and high volume intercity and cross-border trade.
• Land Cargo Insurance
• Marine Cargo Insurance
• Air Transport Insurance
By Coverage Type
• Cargo Insurance
• Freight Forwarder Liability Insurance
• Marine services liability
• Energy logistics
By End User
For More Information or Query or, Customization before Buying Visit:
Regional Analysis Of Logistics Insurance Market
The European region dominates the Logistics Insurance Market. The presence of a solid logistics infrastructure and the growing use of digital insurance are the main elements supporting this region's dominance. Automating compliance with regulations in the area is also likely to promote regional growth. The pricing of policies is significantly influenced by government regulatory actions, which are anticipated to have a substantial impact on the sector as a strong driver. Also, Europe is the major hub for global cargo transportation due to the existence of major ports. In 2021, Rotterdam's overall cargo throughput increased 7.3% to 468.7 million tonnes. Because more commodities were purchased during the epidemic, the number of containers grew by 6.6% to 15.3 million TEU in 2020.
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
• Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of South America)
Major Key Players Considered in the Market
• Aon PLC
• Atrium Corporation
• Beazley Group
• Gard AS
• Liberty Mutual Insurance
• Mitsui Sumitomo Insurance Company Limited
• Peoples Insurance Agency
• Samsung Fire & Marine Insurance Co. Ltd.
• Sompo Japan Nipponkoa Insurance Inc.
• Swiss Re Ltd
• Tokio Marine Holdings Inc
Up-To Avail 20% Discount on various license types on immediate purchase (Use corporate email ID). Get Higher Priority-
Key Industry Development In The Logistics Insurance Market
In March 2020, To provide customers with protection against physical loss or damage to their products, Maersk has partnered with Zurich Insurance Plc (Zurich). This product is called Maersk Cargo Insurance.
In July 2022, A new co-innovation solution was unveiled by NTT DATA and SAP Asia Pacific and Japan (APJ) to enhance supply chain insurance management. The solution, dubbed Connected Product, was created in collaboration with SAP SE and NTT DATA, a pioneer in global digital business and IT services. This partnership furthers the strategic alliance established between NTT and SAP SE's parent company in 2020.
Objectives of the global Logistics Insurance market
1. To identify the main subsegments of the Logistics Insurance market to comprehend its structure.
2. Identifies describes, and analyses the sales volume, value, market share, competitive market landscape, opportunities and threats, and strategic initiatives for the main worldwide Logistics
Insurance manufacturers for the next few years.
3. To examine the Logistics Insurance in terms of specific expected growth, career outlook, and market share contribution.
4. Analyse commercial developments in the market, such as market expansions, partnerships, new product development, and mergers.
5. To develop a strategic analysis of the main players and a thorough analysis of their strategic planning.
Buy the Latest Version of this Report @
Read Related Report: -
Introspective Market Research
3001 S King Drive,
Ph no: +1-773-382-1047
Email : email@example.com
Introspective Market Research (introspectivemarketresearch.com) is a visionary research consulting firm dedicated to assist our clients grow and have a successful impact on the market. Our team at IMR is ready to assist our clients flourish their business by offering strategies to gain success and monopoly in their respective fields. We are a global market research company, specialized in using big data and advanced analytics to show the bigger picture of the market trends. We help our clients to think differently and build better tomorrow for all of us. We are a technology-driven research company, we analyze extremely large sets of data to discover deeper insights and provide conclusive consulting. We not only provide intelligence solutions, but we help our clients in how they can achieve their goals.
This release was published on openPR.
Permanent link to this press release:
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 Logistics Insurance Market Scenario and Growth Prospects 2022 here
News-ID: 2784315 • Views: 502
More Releases from Introspective Market Research
Organic Coffee Market Insights with Key Company Profiles - Forecast to 2029 | Ne …
Market Overview: The Organic Coffee Market size was valued at USD 7.47 Billion in 2021 and is projected to reach USD 12.15 Billion by 2028, registering a CAGR of 7.2% during the forecast period. The organic coffee market consists of organic coffee sales and related services. Organic coffee is made without synthetic fertilizers, pesticides, herbicides, or chemicals. The market consists of organic coffee products, including fair trade coffee, gourmet coffee, espresso coffee,
Processed Fruits and Vegetables Market 2023 By Manufacturers, Regions, Type And …
Market Overview: Global Processed Fruits and Vegetables Market was valued at USD 308.56 Billion in 2021 and is expected to reach USD 528.82 Billion by the year 2028, at a CAGR of 8.0%. Processing of Fruits and Vegetables refers to turning the raw material (cleaning, trimming, and peeling of fruits and vegetables) into a product with greater shelf life and which can be available for consumers in the form of ready-to-eat,
Weight Control Product Market Outlook To 2029 - A Roadmap To Market Opportunitie …
Market Overview: Global Weight Control Product Market is valued at USD 23.80 Billion in 2021 and is anticipated to reach USD 29.97 Billion over the forecast period 2028, at a CAGR of 3.35%. A weight control product can be referred to as a product, a treatment, or a strategy that can help one in losing weight and keep a healthy weight. Weight Control Products consist of a variety of ingredients, including
Edible Insect Market Growth Outlook And Opportunity Analysis- Industry Trends, D …
Market Overview: Global Edible Insect Market was valued at USD 191.87 Million in 2021 and is expected to reach USD 789.72 Million by the year 2028, at a CAGR of 22.4%. An edible insect is an insect that is safe and suitable to be consumed by humans. Today, more than 2300 species of 18 orders have been reported to be edible insects, of which 5 orders are with at least 100
More Releases for Insurance
Household Insurance market by top keyaplayers - Discount Insurance Home Insuran …
Household Insurance Industry Overview The Household Insurance market research study relies upon a combination of primary as well as secondary research. It throws light on the key factors concerned with generating and limiting Household Insurance marketgrowth. In addition, the current mergers and acquisition by key players in the market have been described at length. Additionally, the historical information and current growth of the market have been given in the scope of the research report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Household Insurance market have also been included in
Agriculture Crop Insurance Market Type (MPCI Insurance, Hail Insurance, Livestoc …
Agriculture Crop Insurance market worldwide Agriculture is an important contributor to any economy. The extensive use of crops for direct human consumption and industrial processes has resulted in increasing the pressure on the existing supply demand gap. Increasing need for food security is expected to augment the demand for insurance policies. The two major risks in agricultural sector are price risk, caused due to volatility in prices in the market
Household Insurance Market By Key Players: Discount Insurance Home Insurance, On …
Household Insurance Industry Overview The Household Insurance market research study relies upon a combination of primary as well as secondary research. It throws light on the key factors concerned with generating and limiting Household Insurance market growth. In addition, the current mergers and acquisition by key players in the market have been described at length. Additionally, the historical information and current growth of the market have been given in the scope of the research report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Household Insurance market
Non-Life Insurance Market :Health Insurance, Property Insurance, Cargo Insurance …
Non-Life Insurance Market Overview: Summary:Excellence consistency maintains by Garner Insights in Research Report in which studies the global Non-Life Insurance market status and forecast, categorizes and Equipment market value by manufacturers, type, application, and region. Get Access to Report Sample: http://bit.ly/2Q9Hd8z Non-Life Insurance market was valued at Million US$ in 2017 and is projected to reach Million US$ by 2025, at a CAGR of during the forecast period. In this study, 2017 has been
Agricultural Insurance Market 2018-2023: AnHua Agricultural Insurance, Anxin Agr …
A new research study titled, “Global Agricultural Insurance Market” has been added to the comprehensive repository of Orbis Research Agricultural Insurance Market - Global Status and Trend Report 2018-2023 offer a comprehensive analysis of the Agricultural Insurance industry, standing on the readers’ perspective, delivering detailed market data and penetrating insights. No matter the client is the industry insider, potential entrant or investor, the report will provide useful data and information. The
Insurance Market-Saga’s Retail Broking Business Offers Motor Insurance, Pet In …
Orbis Research Market brilliance released a new research report of 33 pages on title ‘Insurance Company Profile: Saga’ with detailed analysis, forecast and strategies. Insurance Company Profile: Saga", profile provides a comprehensive review of Saga and its UK business. This includes its strategy for growth and focus on digitization as well as its performance in the UK and marketing and distribution strategy. Request a sample of this report at http://orbisresearch.com/contacts/request-sample/2026595 Saga