In-Depth Exploration of the Logistics Insurance Market: Enriching Industry Understanding, Envisioning Trends, Evaluating Growth Catalysts, and Forecasting Advancements from 2023 to 2030.
Report Ocean has recently released a comprehensive research report on the global Logistics Insurance Market. The report offers a detailed analysis of various market characteristics, such as size, growth, segmentation, regional and country breakdowns, competitive environment, market shares, trends, and strategies. It also provides insights into the impact of the COVID-19 pandemic on the market.
Global Logistics Insurance Market is valued approximately USD $$ million in 2021 and is anticipated to grow with a healthy growth rate of more than $% over the forecast period 2023-2030.
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The Logistics Insurance can be defined as a tailor-made insurance product which protects the insured against physical damage or loss of goods while being transported by land, sea, or air. Logistics Insurance covers loss due to improper packing, infestation, customs rejection, and cargo abandonment etc. The growing Logistics & Transportation Sector and increasing penetration of E-commerce platforms as well as recent Strategic initiatives from leading market players are factors that are accelerating the global market demand. For instance, according to Statista – In 2020, the logistics industry worldwide was estimated at USD 5.85 trillion, and the logistics industry is projected to cross USD 6.94 trillion by 2024. Furthermore, leading market players are working towards partnership activities to digitalize the insurance distribution process. For instance, in September 2021 Kenyan insurance technology company, Lami Technologies entered in a partnership with Nairobi, Kenya based tech-logistics company, Sendy Limited. This partnership would enable transporters in Kenya to access simple, hassle-free, and affordable insurance products customized on a per-trip basis.
Moreover, in October 2021, Illinois, USA based transportation-related insurance broker Roanoke Insurance Group, Inc. partnered with Oxford, Maryland, US based Software company Redkik Inc. Under this partnership both the players would be offering on-demand, per shipment insurance with instantaneous premium quotations at the time of freight booking, and with dynamic pricing option. Also, growing Import Export activities in post covid era and increasing digitization of insurance distribution platforms are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, a lack of awareness towards logistics insurance policies coupled with high premium rates impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Logistics Insurance Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing logistics and transportation sector and presence of leading insurance provider in the region. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the thriving import and export activities and, rising emergence of leading market players in the region would create lucrative growth prospects for the global Logistics Insurance Market across the Asia Pacific region.
Major market players included in this report are:
- Allianz
- Metlife
- Aviva
- GEICO
- SADLER & Company Inc
- Envious Digital
- Baozhunniu Sport
- Aston Villa Football
- China Life Insurance
- Ping An Insurance
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By End Use Industry
Transportation
Marine
Aviation
By End User
Individual
Enterprises
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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This report covers several key questions related to the global Logistics Insurance market, including:
- What can be expected for the Logistics Insurance market in the next decade?
- What are the primary drivers of growth in the global Logistics Insurance market?
- Which technologies are likely to experience the most rapid growth, both by market and region?
- How do opportunities within the Logistics Insurance market vary based on the size of the end market?
- What is the breakdown of Logistics Insurance by type and application?
- How have recent events such as the COVID-19 pandemic and the Russia-Ukraine conflict impacted the Logistics Insurance market?
The Key Points Covered in the Table of Contents:
Overview: This section provides a concise summary of the report, offering a high-level understanding of the global Logistics Insurance Market. It serves as an introduction, providing insights into the nature and contents of the research study.
Market Analysis: The research study accurately and reliably forecasts the market share of key segments within the Logistics Insurance Market. This analysis enables industry participants to make strategic investments in the significant growth areas of the Food Container Market.
Analysis of Leading Players’ Strategies: Market participants can utilize this report to gain a competitive advantage over their rivals in the Logistics Insurance Market. It offers an in-depth analysis of the strategies employed by leading players, enabling others to develop effective strategies and stay ahead in the market.
Regional Growth Analysis: The report covers all major regions and countries relevant to the Logistics Insurance Market. The regional analysis facilitates market players in identifying untapped regional markets, devising unique regional strategies, and comparing the growth patterns across different regions.
Market Forecasts: Purchasers of this report gain access to precise and validated estimations of the overall market size in terms of both value and volume. The study also includes comprehensive forecasts for consumption, production, sales, and other pertinent factors related to the Logistics Insurance Market.
Our Logistics Insurance Market Report is a comprehensive analysis of the market, providing valuable insights for businesses looking to invest in this industry.
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