Press release
Blockchain in Insurance Market is Projected to Reach USD 14690.1 Million by 2030: Cognitive Market Research
What is blockchain in insurance?
The blockchain is the dispersed register of dynamic transaction data and stores static records without central coordination using a consensus-based mechanism to check the validity of transactions. The blockchain insurance industry is to protect against fraud in automatic transactions by permitting tracking and managing physical data digitally. Blockchain technology customers and insurers create smart agreements, which manage rights in a timely and transparent manner.
Summary:
As per the study of CMR, the Global Blockchain in Insurance Market size stood at USD 521.7 Million in 2022 and will reach the mark of USD 14690.1 Million by 2030. The global market is expected to expand at a CAGR of 51.8 % during the forecast period (2023-2030).
To know more about The Blockchain in Insurance Market statistics click here: https://www.cognitivemarketresearch.com/blockchain-in-insurance-market-report
Market Dynamics:
What are the key driving factors for blockchain in the insurance market?
Increasing blockchain insurance for secure online platforms and fraudulent insurance claims and rising technologically advanced software platforms adoption is the key factor expected to drive the growth of the blockchain in the insurance market.
Blockchain in Insurance Market Opportunities:
Increasing smart contracts in insurance is projected to present growth opportunities for the blockchain in the insurance market in the forecast period.
Blockchain in Insurance Market Restraints:
Increasing initial setup price and the absence of awareness and standardization in blockchain technology is anticipated to hamper the growth of the blockchain in the insurance market.
Market Segmentation:
Component:
• Service
• Solution
Based on the component, the solution segment has the largest share of the blockchain in the insurance market. This is due to blockchain solutions conclusive in simplifying and transforming the insurance industry to break from traditions outdated with efficiency. Furthermore, increasing customer distrust in centralized financial services is expected to boost the target market in this segment.
Application:
• Payments
• GRC Management
• Claims Management
• Identity Management and Fraud Detection
• Others
Based on the application, the identity management and fraud detection segment have the major share of the blockchain in the insurance market. This is owing to the increasing demand for identity management and fraud detection in the blockchain in the insurance market.
Enterprise Size:
• Small and Medium-sized Enterprises
• Large Enterprises
Competitive Analysis of Blockchain in Insurance Market: Oracle, IBM, Swisscom Blockchain, Adnovum, Vakaxa, Ardor, BitFury
Get free sample pages of the latest published Blockchain in Insurance Market Report: https://www.cognitivemarketresearch.com/blockchain-in-insurance-market-report#request_sample
Regional Analysis:
North America accounted for the largest share of the blockchain in the insurance market, in 2022
North America has the largest revenue share in the blockchain in the insurance market. This is due to the key retail banking service industry in the region. Furthermore, increasing blockchain technology adoption for KYC/ID fraud risk and preventing scoring, and increasing internet penetration rate in the region are anticipated drive the blockchain in the insurance market in the region.
Browse Here For Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
• 1.1 Global Blockchain in Insurance Industry Introduction
• 1.2 Objectives of the Study
• 1.3 USP of the Report
• 1.4 Who is this report for?
• 1.5 Designing of Market Scope
1.5.1 Blockchain in Insurance Market Segmentation
1.5.1 Blockchain in Insurance Market Regional Fragmentation
1.5.1 Blockchain in Insurance Market Players
• 1.6 Report Duration
• 1.7 List of Stakeholders
Chapter 2 Research MethodologyReview Complete Research Methodology
Chapter 3 Executive Summary of Blockchain in Insurance Market
• 3.1 Global Blockchain in Insurance Market Size 2018 - 2030, (USD Million)
• 3.2 Global Blockchain in Insurance Value, Absolute & Opportunity Analysis
• 3.3 Global Blockchain in Insurance Market Y-o-Y Growth Rate Projection by Region (2023 - 2030)
• 3.4 Global Blockchain in Insurance Market Statistics 2022: Snapshot
Chapter 4 Global Blockchain in Insurance Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
Chapter 6 Environmental, Social, and Governance (ESG) Analysis
Chapter 7 Qualitative Analysis
Chapter 8 Company Profiling (Subject to Availability)
Chapter 9 Global Blockchain in Insurance Market by Component Segmentation Analysis (2018-2030)
Chapter 10 Global Blockchain in Insurance Market by Application Segmentation Analysis (2018-2030)
Chapter 11 Global Blockchain in Insurance Market by Enterprise Size Segmentation Analysis (2018-2030)
Chapter 12 Global Blockchain in Insurance Market Regional Analysis
Chapter 13 North America Blockchain in Insurance Market Outlook (2018 - 2030)
Chapter 14 Europe Blockchain in Insurance Market Outlook (2018 - 2030)
Chapter 15 Asia Pacific Blockchain in Insurance Market Outlook (2018 - 2030)
Chapter 16 Latin America Blockchain in Insurance Market Outlook (2018 - 2030)
Chapter 17 Middle East and Africa Blockchain in Insurance Market Outlook (2018 - 2030)
Chapter 18 Research Findings
Customize the Report Edition (Is applicable, On Request, Subject to Data Available, At an Additional Cost)
To know more about The Blockchain in Insurance Market TOC click here: https://www.cognitivemarketresearch.com/blockchain-in-insurance-market-report#table_of_contents
Related Report:
• Blockchain in Retail Banking Market- https://www.cognitivemarketresearch.com/blockchain-in-retail-banking-market-report
• Blockchain in Education Market- https://www.cognitivemarketresearch.com/blockchain-in-education-market-report
• Blockchain in Fintech Market- https://www.cognitivemarketresearch.com/blockchain-in-fintech-market-report
Blog:
• How Does the Incidence Rate Influences Market Research: Cognitive Market Research- https://www.cognitivemarketresearch.com/blog/how-does-the-incidence-rate-influences-market-research
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• What are the Opportunities for Electrical Electronics Adhesives Market- https://www.cognitivemarketresearch.com/articles/what-are-the-opportunities-for-electrical-electronics-adhesives-market
𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
20 N State Street,Chicago,
Illinois, 60602
United States
USA: +1 312-376-8303
Europe and UK: (+44) 20-8144-9523
Asia Pacific: (+852) 81930785
Email: sales@cognitivemarketresearch.com
Website: https://www.cognitivemarketresearch.com/about-us
About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operating across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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