Takaful Insurance Market: Understanding the Concept and Analyzing Growth Opportunities | At a CAGR of 14.6% from 2021 to 2030.

Takaful Insurance Market By Distribution Channel (Agents & Brokers, Banks, Direct Response and Others), Type (Family Takaful and General Takaful), and Application (Personal and Commercial): Global Opportunity Analysis and Industry Forecast, 2021-2030

The global takaful insurance market was valued at $24.85 billion in 2020, and is projected to reach $97.17 billion by 2030, growing at a CAGR of 14.6% from 2021 to 2030.

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Competitive Analysis
The report analyzes the profiles of key players operating in the takaful insurance market such as Abu Dhabi National Takaful Co., Allianz, AMAN Insurance, Islamic Insurance, Prudential BSN Takaful Berhad, Qatar Islamic Insurance, SALAMA Islamic Arab Insurance Company, Syarikat Takaful Brunei Darussalam, Takaful International, and Zurich Malaysia. These players have adopted various strategies to increase their market penetration and strengthen their position in the takaful insurance industry.

Segment Overview
The takaful insurance market is segmented on the basis of distribution channel, type, application, and region. By distribution channel, it is segmented into agents & brokers, banks, direct response and others. By type, it is segregated into family takaful and general takaful. Based on application, the market is divided into personal and commercial. By region, it is analyzed across GCC, Asia, MEA and rest of the World.

The report offers detailed segmentation of the global takaful insurance market based on distribution channel, type, application, and region.

Based on distribution channel, the agents & brokers segment contributed to the largest market share in 2020, holding nearly three-fifths of the total share, and is estimated to continue its lead position during the forecast period. However, the direct response segment is expected to witness the largest CAGR of 18.8% from 2021 to 2030.

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Based on type, the general takaful segment accounted for the highest share in 2020, holding nearly three-fourths of the global takaful insurance market, and is estimated to maintain its leadership status during the forecast period. However, the family takaful segment is projected to manifest the highest CAGR of 16.3% from 2021 to 2030.

Based on region, GCC held the highest share in 2020, contributing to more than two-fifths of the total market share, and is expected to maintain its dominant share in terms of revenue by 2030. However, Asia is estimated to portray the fastest CAGR of 17.5% during the forecast period.

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Key Benefits for Stakeholders

The study provides in-depth analysis of the takaful insurance market share along with current & future trends to illustrate the imminent investment pockets.

Information about key drivers, restrains, & opportunities and their impact analysis on the takaful insurance market size is provided in the report.

Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the takaful insurance market.

An extensive analysis of the key segments of the industry helps to understand the takaful insurance market trends.

The quantitative analysis of the global takaful insurance market forecast from 2021 to 2030 is provided to determine the market potential.

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Key Market Segments

By Distribution Channel
Agents & Brokers
Banks
Direct Response
Others

By Type
Family Takaful
General Takaful
Motor Takaful
Personal
Third Party Liability Coverage
Comprehensive & Optional Coverage
Commercial
Property & Fire
Medical & Health Takaful
Marine, Aviation & Transport
Others

By Application
Personal
Commercial

By Region
GCC
Saudi Arabia
UAE
Bahrain
Kuwait
Qatar
Oman
Asia
Malaysia
Pakistan
Indonesia
Brunei
Rest of Asia
MEA
Iran
Jordan
Sudan
Egypt
Nigeria
Rest of MEA
Rest of the World

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