Press release
Travel Insurance Market Update Report 2024 | Industry Trends, Demand, Leading Companies and Segmentation till 2032
Travel insurance market is anticipated to grow at a CAGR of 15.4% during the forecast period (2024-2031). The travel insurance market is expanding owing to factors like increasing global tourism. The COVID-19 pandemic has increased demand for travel insurance. Technological advancements and product innovation have made it easier for consumers to compare and purchase policies. Demographic changes and strategic partnerships among providers, agencies, and airlines also contribute to market growth.
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Growing international arrivals have led to a large increase in the number of travelers seeking insurance coverage for medical emergencies, trip cancellations, and other travel-related threats. According to, UN Tourism, in January 2024, at a substantial increase from pre-pandemic levels, the global tourist industry reached in 2023 with an expected 1.3 billion global arrivals.
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Market Coverage
Market number available for - 2024-2031
Base year- 2024
Forecast period- 2024-2031
Segment Covered- By Source, By Product Type, By Applications
Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
, and others
Global Travel Insurance Market Report Segment
By Type
Single-Trip Travel Insurance
Annual Multi-Trip Travel Insurance
By Distribution Channel
Insurance Companies
Insurance Intermediaries
Banks
Insurance Brokers
Other (Travel Agencies & Tour Operators, Retail Stores, and Specialty Travel Insurance Providers)
By End-User
Senior Citizens
Education Travelers
Family Travelers
Other (Business Travelers, and Expatriates and International Assignees)
The Report Covers
Market value data analysis of 2023 and forecast to 2031.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global travel insurance market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where' in the market.
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Company name: Orion Market Reports
Contact person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
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