Press release
Surety Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Surety Market Size
The size of the surety market has been on a robust growth trajectory in recent years. The forecasts indicate its expansion from $19.62 billion in 2024 to a substantial $21 billion in 2025, translating to a compound annual growth rate (CAGR) of 7.0%. This growth during the historical phase is associated with several factors such as a rise in construction endeavors, enhanced infrastructure development, stricter construction industry standards, innovative advancements in the construction field, increased private sector investments, and a thriving real estate development market.
Anticipations are high for substantial expansion in the surety market size in the upcoming years. A projection shows that it is set to surge to a value of $27.31 billion by 2029, experiencing a compound annual growth rate (CAGR) of 6.8%. This projected growth within the forecast period can be credited to factors such as escalating demand for construction projects, amplified government rules, soaring numbers of infrastructural projects, and the growing technology utilization in underwriting, as well as the increase of small and medium-sized enterprises (SMEs). The major trends to look for during this forecast period include the embracement of digital platforms, advancements in risk management tools, the implementation of automated underwriting processes, enhancements in digital verification methods, and progress in fraud detection technology.
What Are the Primary Growth Drivers for the Surety Market?
The surety market is anticipated to expand due to the increasing utilization of digital payment services. Such services use mobile devices and electronic channels to carry out financial transactions online. Factors such as widespread smartphone usage, superior internet access, improved security systems, and convenience for users are driving the adoption of digital payments. Surety provides a fiscal guarantee for the performance and dependability of service providers, safeguarding users against possible losses arising from fraud, service interruptions, or contractual non-compliance. For example, the Ministry of Electronics & IT, based in India, reported that the total amount of digital transactions was evaluated at 8,840 crore ($1.056 billion) in 2021-2022, and it rose to 9,192 crore ($1.097 billion) by December 2022. Hence, the increasing adoption of digital payment services is fueling the growth of the surety market.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=18747&type=smp
Who Are the Dominant Companies Influencing Surety Market Trends?
Major companies operating in the surety market are Berkshire Hathaway Specialty Insurance Company, Nationwide Financial General Agency Inc., Liberty Mutual Group, Zurich Insurance Group Ltd, Chubb Limited, The Travelers Indemnity Company, The Hartford Financial Services Group Inc., Marsh & McLennan Companies Inc, Intact Financial Corporation, QBE Insurance Group Limited, Aon plc, Everest Group Ltd, CNA Financial Corporation, Markel Corporation, Arch Capital Group Ltd, AssuredPartners Inc., Old Republic International Corporation, American Financial Group Inc., AmTrust Financial Services Inc., The Hanover Insurance Group Inc., Crum & Forster Insurance, Starr International Company Inc., Tokio Marine Holdings Inc., Allianz Trade, Aspen Insurance Holdings Limited, IAT Insurance Group Inc., EverQuote Inc., J.S. Held LLC, Prime Insurance Company Limited, American Surety Company
How Is the Surety Market Evolving?
Leading firms in the surety market are innovating in the area of surety insurance to boost financial reliability and cater to the rising need for risk management strategies. Otherwise referred to as surety bonds, surety insurance offers a monetary assurance for the fulfilment of commitments, granting security and trust to the entities involved in various deals and contracts. For example, in July 2024, ICICI Lombard, an insurance corporation based in India, unveiled its surety insurance that provides financial assurances for contractors to honour their commitments. This product unlocks bank channels and facilitates larger projects by giving options that are both conditional and unconditional, progressive risk control, and heightened financial freedom. Its debut is crucial in the surety insurance market, fulfilling the increasing demand of the growing infrastructure sector for efficient risk reduction and aiding firms to secure larger contracts of high value.
What Are the Different Segmentations in the Surety Market?
The surety market covered in this report is segmented -
1) By Bond Type: Contract Surety Bond, Commercial Surety Bond, Fidelity Surety Bond, Court Surety Bond
2) By Application: Government Agencies, Enterprise
3) By End User: Businesses, Contractors, Construction Organizations, Government Agencies, Suppliers, Service Providers And Individuals
Subsegments:
1) By Contract Surety Bond: Performance Bonds, Payment Bonds, Bid Bonds, Maintenance Bonds
2) By Commercial Surety Bond: License And Permit Bonds, Court Bonds (Commercial), Customs Bonds, Miscellaneous Commercial Bonds
3) By Fidelity Surety Bond: Employee Dishonesty Bonds, Business Service Bonds, ERISA Bonds (Employee Retirement Income Security Act)
4) By Court Surety Bond: Appeal Bonds, Judicial Bonds, Bail Bonds, Probate Bonds
Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/surety-global-market-report
Which Region Is at the Forefront of the Surety Market?
North America was the largest region in the surety market in 2024, and is expected to be the fastest-growing region in the forecast period. The regions covered in the surety market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Surety Global Market Report?
- Market Size Analysis: Analyze the Surety Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Surety Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Surety Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Surety Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=18747
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
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 Surety Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share here
News-ID: 3867455 • Views: …
More Releases from The Business Research Company
Segment Evaluation and Major Growth Areas in the Personalized Testing and Supple …
The personalized testing and supplements sector is gaining remarkable traction, driven by advancements in technology and a rising consumer focus on tailored health solutions. As more individuals seek customized wellness options, this market is set to experience substantial expansion in the coming years. Here's an in-depth look at its current valuation, key players, significant trends, and the main market segments shaping its future.
Market Valuation and Expansion Forecast for Personalized Testing…
Top Players and Market Competition in the Skin Microbiome Industry
The skin microbiome market is emerging as a significant area of interest due to growing awareness about the critical role of skin health and innovative skincare technologies. As research advances and consumer preferences shift towards more natural and science-backed products, this market is set to undergo substantial growth. Let's explore the current market size, key players, driving factors, and upcoming trends shaping the skin microbiome industry.
Projected Expansion in the Skin…
Key Strategic Developments and Emerging Changes Shaping the Upadacitinib Market …
The upadacitinib market is poised for significant expansion over the coming years, driven by advances in treatment options and increasing awareness of autoimmune diseases. This report delves into the market's current size, key drivers, major players, and the emerging trends shaping its future trajectory.
Steady Growth Expected in Upadacitinib Market Size Through 2029
The market for upadacitinib is projected to reach $2.54 billion by 2029, growing at a robust compound annual…
Analysis of Key Market Segments Driving the Alzheimer's Disease Diagnostic Marke …
The Alzheimer's disease diagnostic sector is rapidly evolving as advancements in technology and healthcare infrastructure open new possibilities for early detection and personalized treatment. With rising awareness and innovative approaches, this market is poised for significant growth in the coming years. Let's explore the current market size, key drivers, leading companies, and emerging trends that are shaping this critical healthcare field.
Projected Market Size and Growth Trends in Alzheimer's Disease Diagnostics…
More Releases for Surety
Growth Of Digital Payment Services Driving Expansion In The Surety Market: A Key …
The Surety Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Current Surety Market Size and Its Estimated Growth Rate?
The surety market has seen strong growth in recent years. It will grow from $19.62 billion in 2024 to $21 billion in 2025 at…
Top Factor Driving Surety Market Growth in 2025: Growth Of Digital Payment Servi …
Which drivers are expected to have the greatest impact on the over the surety market's growth?
The growing use of digital payment services is expected to fuel the growth of the surety market. Digital payments, facilitated by smartphones and enhanced security features, are transforming how people transact. Surety services provide financial guarantees for businesses, ensuring reliability and protection against risks like fraud or service disruptions. According to the Ministry of Electronics…
Surety Bond Market Future Business Opportunities 2022-2030 | HUB International L …
Global "Surety Bond Market" to grow with an impressive CAGR over the forecast period from 2022-2030. The report on Surety Bond offers the customers with a comprehensive analysis of vital driving factors, customer behavior, growth trends, product application, key player analysis, brand position and price patterns. The statistics on estimating patterns is obtained by studying product prices of key players as well as emerging market players. Additionally, Surety Bond market…
Surety Market Opportunities and Forecast Assessment till 2027
According to a recent research study added to the document repository of ResearchMoz, the Global Surety Market is likely to garner the valuation of XX Mn/Bn at the end of forecast period 2021–2027. Further, the assessment report notes that the market for Surety will expand at extensive CAGR of XX% throughout assessment period.
Surety Market: Overview
Growth avenues, drivers, restraints, demand–supply ratio, and challenges are some of the key factors presented in the new…
Surety Market- Industry Research Report by DeepResearchReport
DeepResearchReports has uploaded a latest report on Surety Industry from its research database. Surety Market is segmented by Regions/Countries. All the key market aspects that influence the Surety Market currently and will have an impact on it have been assessed and propounded in the Surety Market research status and development trends reviewed in the new report.
The new tactics of Surety Industry report offers a comprehensive market breakdown on…
Contract surety bond holding nearly half of the surety market share
The global surety market at US$ 15.33 Bn in 2018 and is expected to grow at a CAGR of 7.5% during the forecast period 2019 – 2027, to account to US$ 28.77 Bn by 2027.
The Surety market penetration rates in North America region is higher than any other markets across the globe. This is attributed to most of U.S. State governments’ laws that mandate surety bonds. Both the U.S. and…
