Press release
Global Business Travel Accident Insurance Market to Reach $20.07 Billion by 2029, Growing at 21.3% CAGR
Business Travel Accident Insurance
The escalation in corporate excursions is projected to fuel the expansion of the business travel accident insurance sector. Corporate travel pertains to mobilization between different locations strictly for commercial reasons. As the pandemic situation improves, corporate travel is experiencing a resurgence. Business travel accident insurance provides a safety net during travel, offering coverage against any potential damages sustained during the course of the journey. For example, according to a report on Business Travel Recovery by the Global Business Travel Association (GBTA), a US-based trade institution for business travel and meetings, the proportion of business travel rose to 86% in August 2022, up from 73% in GBTA's February report. Consequently, the increased business travel will boost the growth of the business travel accident insurance sector.
Get Your Business Travel Accident Insurance Market Report Here:
https://www.thebusinessresearchcompany.com/report/business-travel-accident-insurance-global-market-report
What growth opportunities are expected to drive the business travel accident insurance market's CAGR through 2034?
The substantial expansion of the business travel accident insurance market in the recent past is quite impressive. The market was valued at $7.5 billion in 2024 and is expected to reach $9.27 billion in 2025, registering a 23.5% compound annual growth rate (CAGR). The surge in this market during the historic times is primarily due to the increased awareness of risks related to travel, a higher number of natural disasters, and escalating healthcare costs.
Expectations are high for the business travel accident insurance market in the coming years, as it's set to expand significantly. The market is projected to reach $20.07 billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 21.3%. This expected surge in the market can be linked to factors such as globalisation, rising frequency of business trips, and the increasing number of corporate events and meetings. The period under forecast will witness key trends like the implementation of technology for better service, personalized coverage for varied employee demographics, and travel insurance solutions specifically designed for businesses.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=8114&type=smp
What are the emerging trends shaping the future of the business travel accident insurance market?
Key players in the business travel accident insurance market are opting for strategic alliances to amplify technological integration and grow their market presence. A strategic collaboration is generally a cooperative bond among two or more corporations where they merge their assets, proficiency, and endeavors to meet shared objectives or goals. To illustrate, in April 2023, a strategic partnership was formed between Zurich Insurance Company Ltd., a global insurance and financial services company from Switzerland, and Japan Airlines (JAL), a commercial aviation company from Japan. The aim is to foster innovation in insurance tools, offer timely integrated travel insurance amidst flight booking, address the doubts of travelers and ensure complete protection for international trips, thus improving the travel experience for clients.
Which growth-oriented segments of the business travel accident insurance market are leading the industry's development?
The business travel accident insurance market covered in this report is segmented -
1) By Type: Single Trip Coverage, Annual Multi-Trip Coverage, Other Types
2) By Distribution Channel: Insurance Company, Insurance Broker, Banks, Insurance Aggregators, Other Distribution Channels
3) By End-User: Corporations, Government, International Travelers, Employees
Subsegments:
1) By Single Trip Coverage: Short-Term Business Travel Insurance, Emergency Medical Coverage For Single Trips, Trip Cancellation Or Interruption Coverage
2) By Annual Multi-Trip Coverage: Comprehensive Annual Plans For Frequent Travelers, Medical Expense Coverage For Multiple Trips, Loss Of Baggage And Personal Belongings
3) By Other Types: Group Travel Accident Insurance, Specialty Risk Coverage, Optional Add-Ons
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=8114
What regions are leading the charge in the business travel accident insurance market?
Europe was the largest region in the business travel accident insurance market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the business travel accident insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the business travel accident insurance market?
Major companies operating in the business travel accident insurance market include MetLife Inc, Allianz SE, American International Group Inc, Zurich Insurance Group, AXA,Assicurazioni Generali S.P.A., Chubb Corporation, The Hartford, Starr International Company, Tata AIG General Insurance Company Limited, Corporate Risks India Insurance Brokers Pvt Ltd, New India Assurance - General Insurance Brokers, Oriental Insurance Company, ICICI Lombard General Insurance Company, United India Insurance, HDFC ERGO Non-Life Insurance Company, Fanhua Holdings, Insubuy LLC, China Life Insurance Company Limited, SafetyWing, Genki, Insured Nomads, Sompo Japan Nipponkoa Insurance Inc, Mitsui Sumitomo Insurance Co. Ltd, Marsh & McLennan Companies UK Limited, Aon UK Limited, Arthur J Gallagher & Co, Willis Towers Watson plc, Lloyd's of London Limited, Funk Gruppe GmbH, Ecclesia Holding GmbH, Hannover Re, Crédit Agricole Assurances, Société Générale, Sogaz Insurance Group, Ingosstrakh Insurance Co, UNIQA, Ceská Pojištovna, Groupama, RSHB Insurance, Soglasie Insurance Company, Sberbank Insurance Company LLC, Travel Insurance Center, Global Underwriters Agency Inc., International Citizens Insurance, AIG Seguros Brasil SA, Mapfre Argentina Holding S.A., Sancor Seguros Argentina, Nación Seguros, Arabia Insurance Cooperative Company, Abu Dhabi National Insurance, Dubai Insurance Co, Al-Etihad Co-operative Insurance Co, Saudi Arabian Cooperative Insurance Co., Care Line Group, De Wet De Villiers, Travelinsure, Lensure Insurance Brokers Cc, Oojah Travel Protection, Takaful Insurance of Africa, Bryte Insurance Company Limited
Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=8114&type=smp
What Is Covered In The Business Travel Accident Insurance Global Market Report?
•Market Size Forecast: Examine the business travel accident insurance market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the business travel accident insurance market for a structured understanding.
•Key Players Overview: Analyze major players in the business travel accident insurance market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the business travel accident insurance market.
•Segment Contributions: Evaluate how different segments drive overall growth in the business travel accident insurance market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the business travel accident insurance market.
•Industry Challenges: Identify potential risks and obstacles affecting the business travel accident insurance market.
•Competitive Landscape: Review strategic developments in the business travel accident insurance market, including expansions, agreements, and new product launches.
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: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 Global Business Travel Accident Insurance Market to Reach $20.07 Billion by 2029, Growing at 21.3% CAGR here
News-ID: 3898927 • Views: …
More Releases from The Business Research Company
Global Double-Sided Masking Tapes Market Expansion at 7.8% CAGR, Valued at $18.4 …
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
What Are the Double-Sided Masking Tapes Market Size Forecast for 2025?
The market size of double-sided masking tapes has been experiencing consistent growth in recent years. The market will increase from a figure of $13.01 billion in 2024 to about $13.64 billion in 2025, demonstrating a compound annual growth rate…
Construction Adhesives Market on Path to Hit $18.32 Billion by 2029 at 9% CAGR
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
Construction Adhesives Market Outlook: What Size And CAGR Are Anticipated By 2025?
There has been a robust growth in the size of the construction adhesives market in the recent past. The market that was at $12.06 billion in 2024 is projected to rise to $12.95 billion in 2025, with a…
Future of Chromatography Resins Market: Size, Share & Forecasts to 2029
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports.
What Is the Projected Market Size Valuation of the Chromatography Resins Market by 2025?
In recent years, the market size of chromatography resins has experienced significant growth. Starting from a value of $2.95 billion in 2024, it is predicted to increase to $3.15 billion in 2025 with a compound annual growth…
Blow-Molded Plastics Industry Set to Achieve $128.73 Billion Milestone by 2029 | …
Get 30% off global market reports with code ONLINE30 and keep ahead of tariffs, macro trends, and worldwide economic developments.
What Is the Long-Term Growth Forecast for the Blow-Molded Plastics Market Size 2025?
The market size of blow-molded plastics has seen constant enlargement in the previous few years. It is expected to rise from $97.17 billion in 2024 to $99.31 billion in 2025, at a compound annual growth rate (CAGR) of…
More Releases for Insurance
Renters Insurance Market to See Competition Rise | Travelers Insurance, Geico In …
HTF MI introduces new research on Renters Insurance covering the micro level of analysis by competitors and key business segments (2023-2029). The Renters Insurance explores a comprehensive study of various segments like opportunities, size, development, innovation, sales, and overall growth of major players. The research is carried out on primary and secondary statistics sources and it consists of both qualitative and quantitative detailing. Some of the major key players profiled…
Insurance Road Assistance Services Market Is Booming Worldwide | Travelers Insur …
Insurance Road Assistance Services Market: The extensive research on Insurance Road Assistance Services Market, by Qurate Research is a clear representation on all the essential factors that are expected to drive the market considerably. Thorough study on Insurance Road Assistance Services Market helps the buyers of the report, customers, the stakeholders, business owners, and stockholders to understand the market in detail. The updated research report comprises key information on the…
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…
Life Insurance Market in Kuwait By Warba Insurance Company, Al Ahleia Insurance …
GlobalData’s 'Life Insurance in Kuwait, Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Kuwaiti life insurance segment, and a comparison of the Kuwaiti insurance industry with its regional counterparts.
It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2012-2016) and forecast period (2016-2021).
The report also…
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…
