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Insurance IT Spending-Global Market Insights and Sales Trends 2025
Synopsis
Insurance firms in the US are deploying several big data and analytics technologies for effective risk and compliance management. Analytics solutions help insurance firms to increase their profitability and competitiveness in both domestic and global insurance markets.
The global Insurance IT Spending market size is expected to reach US$ million by 2029, growing at a CAGR of % from 2023 to 2029. The market is mainly driven by the significant applications of Insurance IT Spending in various end use industries. The expanding demands from the Accident and Health, Life and Annuity, Reinsurance and Commercial Property/Casualty, are propelling Insurance IT Spending market. Software Spending, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Hardware Spending segment is estimated at % CAGR for the next seven-year period.
The increased application of advanced analytical tools such as descriptive, predictive, and prescriptive analytical solutions has helped insurance firms to obtain accurate estimation of the highly demanded products. Increased adoption of social media monitoring and analytical tools in the insurance sector will result in the elevated sale of insurance products in the coming years.
Report Objectives
This report provides market insight on the different segments, by players, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Insurance IT Spending, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Insurance IT Spending market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Insurance IT Spending market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Insurance IT Spending sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Insurance IT Spending covered in this report include Accenture, CSC, Fiserv, Guidewire Software, Oracle, Andesa, Cognizant, EXL Service and FIS, etc.
The global Insurance IT Spending market report caters to various stakeholders in this industry including investors, suppliers, product players, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Accenture
CSC
Fiserv
Guidewire Software
Oracle
Andesa
Cognizant
EXL Service
FIS
Genpact
Majesco
Microsoft
Pegasystems
SAP
StoneRiver
Global Insurance IT Spending market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Insurance IT Spending market, Segment by Type:
Software Spending
Hardware Spending
IT Services Spending
Global Insurance IT Spending market, by Application
Accident and Health
Life and Annuity
Reinsurance
Commercial Property/Casualty
Personal Property/Casualty
Enterprise Utilities
Others
Core Chapters
Chapter One: Introduces the report scope of the report, executive summary of global and regional market size and CAGR for the history and forecast period (2018-2023, 2024-2029). It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter Two: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter Three: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter Four: Detailed analysis of Insurance IT Spending companies’ competitive landscape, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Five: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product introduction, revenue, recent development, etc.
Chapter Six, Seven, Eight, Nine and Ten: North America, Europe, Asia Pacific, Latin America, Middle East & Africa, revenue by country.
Chapter Eleven: this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Research Finding/Conclusion
Insurance firms in the US are deploying several big data and analytics technologies for effective risk and compliance management. Analytics solutions help insurance firms to increase their profitability and competitiveness in both domestic and global insurance markets.
The global Insurance IT Spending market size is expected to reach US$ million by 2029, growing at a CAGR of % from 2023 to 2029. The market is mainly driven by the significant applications of Insurance IT Spending in various end use industries. The expanding demands from the Accident and Health, Life and Annuity, Reinsurance and Commercial Property/Casualty, are propelling Insurance IT Spending market. Software Spending, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Hardware Spending segment is estimated at % CAGR for the next seven-year period.
The increased application of advanced analytical tools such as descriptive, predictive, and prescriptive analytical solutions has helped insurance firms to obtain accurate estimation of the highly demanded products. Increased adoption of social media monitoring and analytical tools in the insurance sector will result in the elevated sale of insurance products in the coming years.
Report Objectives
This report provides market insight on the different segments, by players, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Insurance IT Spending, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Insurance IT Spending market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Insurance IT Spending market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Insurance IT Spending sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Insurance IT Spending covered in this report include Accenture, CSC, Fiserv, Guidewire Software, Oracle, Andesa, Cognizant, EXL Service and FIS, etc.
The global Insurance IT Spending market report caters to various stakeholders in this industry including investors, suppliers, product players, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Accenture
CSC
Fiserv
Guidewire Software
Oracle
Andesa
Cognizant
EXL Service
FIS
Genpact
Majesco
Microsoft
Pegasystems
SAP
StoneRiver
Global Insurance IT Spending market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Insurance IT Spending market, Segment by Type:
Software Spending
Hardware Spending
IT Services Spending
Global Insurance IT Spending market, by Application
Accident and Health
Life and Annuity
Reinsurance
Commercial Property/Casualty
Personal Property/Casualty
Enterprise Utilities
Others
Core Chapters
Chapter One: Introduces the report scope of the report, executive summary of global and regional market size and CAGR for the history and forecast period (2018-2023, 2024-2029). It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter Two: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter Three: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter Four: Detailed analysis of Insurance IT Spending companies’ competitive landscape, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Five: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product introduction, revenue, recent development, etc.
Chapter Six, Seven, Eight, Nine and Ten: North America, Europe, Asia Pacific, Latin America, Middle East & Africa, revenue by country.
Chapter Eleven: this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Research Finding/Conclusion
Index1 Market Overview of Insurance IT Spending
1.1 Insurance IT Spending Market Overview
1.1.1 Insurance IT Spending Product Scope
1.1.2 Insurance IT Spending Market Status and Outlook
1.2 Global Insurance IT Spending Market Size Overview by Region 2018 VS 2022 VS 2029
1.3 Global Insurance IT Spending Market Size by Region (2018-2029)
1.4 Global Insurance IT Spending Historic Market Size by Region (2018-2023)
1.5 Global Insurance IT Spending Market Size Forecast by Region (2024-2029)
1.6 Key Regions, Insurance IT Spending Market Size (2018-2029)
1.6.1 North America Insurance IT Spending Market Size (2018-2029)
1.6.2 Europe Insurance IT Spending Market Size (2018-2029)
1.6.3 Asia-Pacific Insurance IT Spending Market Size (2018-2029)
1.6.4 Latin America Insurance IT Spending Market Size (2018-2029)
1.6.5 Middle East & Africa Insurance IT Spending Market Size (2018-2029)
2 Insurance IT Spending Market by Type
2.1 Introduction
2.1.1 Software Spending
2.1.2 Hardware Spending
2.1.3 IT Services Spending
2.2 Global Insurance IT Spending Market Size by Type: 2018 VS 2022 VS 2029
2.2.1 Global Insurance IT Spending Historic Market Size by Type (2018-2023)
2.2.2 Global Insurance IT Spending Forecasted Market Size by Type (2024-2029)
2.3 Key Regions Market Size by Type
2.3.1 North America Insurance IT Spending Revenue Breakdown by Type (2018-2029)
2.3.2 Europe Insurance IT Spending Revenue Breakdown by Type (2018-2029)
2.3.3 Asia-Pacific Insurance IT Spending Revenue Breakdown by Type (2018-2029)
2.3.4 Latin America Insurance IT Spending Revenue Breakdown by Type (2018-2029)
2.3.5 Middle East and Africa Insurance IT Spending Revenue Breakdown by Type (2018-2029)
3 Insurance IT Spending Market Overview by Application
3.1 Introduction
3.1.1 Accident and Health
3.1.2 Life and Annuity
3.1.3 Reinsurance
3.1.4 Commercial Property/Casualty
3.1.5 Personal Property/Casualty
3.1.6 Enterprise Utilities
3.1.7 Others
3.2 Global Insurance IT Spending Market Size by Application: 2018 VS 2022 VS 2029
3.2.1 Global Insurance IT Spending Historic Market Size by Application (2018-2023)
3.2.2 Global Insurance IT Spending Forecasted Market Size by Application (2024-2029)
3.3 Key Regions Market Size by Application
3.3.1 North America Insurance IT Spending Revenue Breakdown by Application (2018-2029)
3.3.2 Europe Insurance IT Spending Revenue Breakdown by Application (2018-2029)
3.3.3 Asia-Pacific Insurance IT Spending Revenue Breakdown by Application (2018-2029)
3.3.4 Latin America Insurance IT Spending Revenue Breakdown by Application (2018-2029)
3.3.5 Middle East and Africa Insurance IT Spending Revenue Breakdown by Application (2018-2029)
4 Insurance IT Spending Competition Analysis by Players
4.1 Global Insurance IT Spending Market Size by Players (2018-2023)
4.2 Global Top Players by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Insurance IT Spending as of 2022)
4.3 Date of Key Players Enter into Insurance IT Spending Market
4.4 Global Top Players Insurance IT Spending Headquarters and Area Served
4.5 Key Players Insurance IT Spending Product Solution and Service
4.6 Competitive Status
4.6.1 Insurance IT Spending Market Concentration Rate
4.6.2 Mergers & Acquisitions, Expansion Plans
5 Company (Top Players) Profiles
5.1 Accenture
5.1.1 Accenture Profile
5.1.2 Accenture Main Business
5.1.3 Accenture Insurance IT Spending Products, Services and Solutions
5.1.4 Accenture Insurance IT Spending Revenue (US$ Million) & (2018-2023)
5.1.5 Accenture Recent Developments
5.2 CSC
5.2.1 CSC Profile
5.2.2 CSC Main Business
5.2.3 CSC Insurance IT Spending Products, Services and Solutions
5.2.4 CSC Insurance IT Spending Revenue (US$ Million) & (2018-2023)
5.2.5 CSC Recent Developments
5.3 Fiserv
5.3.1 Fiserv Profile
5.3.2 Fiserv Main Business
5.3.3 Fiserv Insurance IT Spending Products, Services and Solutions
5.3.4 Fiserv Insurance IT Spending Revenue (US$ Million) & (2018-2023)
5.3.5 Guidewire Software Recent Developments
5.4 Guidewire Software
5.4.1 Guidewire Software Profile
5.4.2 Guidewire Software Main Business
5.4.3 Guidewire Software Insurance IT Spending Products, Services and Solutions
5.4.4 Guidewire Software Insurance IT Spending Revenue (US$ Million) & (2018-2023)
5.4.5 Guidewire Software Recent Developments
5.5 Oracle
5.5.1 Oracle Profile
5.5.2 Oracle Main Business
5.5.3 Oracle Insurance IT Spending Products, Services and Solutions
5.5.4 Oracle Insurance IT Spending Revenue (US$ Million) & (2018-2023)
5.5.5 Oracle Recent Developments
5.6 Andesa
5.6.1 Andesa Profile
5.6.2 Andesa Main Business
5.6.3 Andesa Insurance IT Spending Products, Services and Solutions
5.6.4 Andesa Insurance IT Spending Revenue (US$ Million) & (2018-2023)
5.6.5 Andesa Recent Developments
5.7 Cognizant
5.7.1 Cognizant Profile
5.7.2 Cognizant Main Business
5.7.3 Cognizant Insurance IT Spending Products, Services and Solutions
5.7.4 Cognizant Insurance IT Spending Revenue (US$ Million) & (2018-2023)
5.7.5 Cognizant Recent Developments
5.8 EXL Service
5.8.1 EXL Service Profile
5.8.2 EXL Service Main Business
5.8.3 EXL Service Insurance IT Spending Products, Services and Solutions
5.8.4 EXL Service Insurance IT Spending Revenue (US$ Million) & (2018-2023)
5.8.5 EXL Service Recent Developments
5.9 FIS
5.9.1 FIS Profile
5.9.2 FIS Main Business
5.9.3 FIS Insurance IT Spending Products, Services and Solutions
5.9.4 FIS Insurance IT Spending Revenue (US$ Million) & (2018-2023)
5.9.5 FIS Recent Developments
5.10 Genpact
5.10.1 Genpact Profile
5.10.2 Genpact Main Business
5.10.3 Genpact Insurance IT Spending Products, Services and Solutions
5.10.4 Genpact Insurance IT Spending Revenue (US$ Million) & (2018-2023)
5.10.5 Genpact Recent Developments
5.11 Majesco
5.11.1 Majesco Profile
5.11.2 Majesco Main Business
5.11.3 Majesco Insurance IT Spending Products, Services and Solutions
5.11.4 Majesco Insurance IT Spending Revenue (US$ Million) & (2018-2023)
5.11.5 Majesco Recent Developments
5.12 Microsoft
5.12.1 Microsoft Profile
5.12.2 Microsoft Main Business
5.12.3 Microsoft Insurance IT Spending Products, Services and Solutions
5.12.4 Microsoft Insurance IT Spending Revenue (US$ Million) & (2018-2023)
5.12.5 Microsoft Recent Developments
5.13 Pegasystems
5.13.1 Pegasystems Profile
5.13.2 Pegasystems Main Business
5.13.3 Pegasystems Insurance IT Spending Products, Services and Solutions
5.13.4 Pegasystems Insurance IT Spending Revenue (US$ Million) & (2018-2023)
5.13.5 Pegasystems Recent Developments
5.14 SAP
5.14.1 SAP Profile
5.14.2 SAP Main Business
5.14.3 SAP Insurance IT Spending Products, Services and Solutions
5.14.4 SAP Insurance IT Spending Revenue (US$ Million) & (2018-2023)
5.14.5 SAP Recent Developments
5.15 StoneRiver
5.15.1 StoneRiver Profile
5.15.2 StoneRiver Main Business
5.15.3 StoneRiver Insurance IT Spending Products, Services and Solutions
5.15.4 StoneRiver Insurance IT Spending Revenue (US$ Million) & (2018-2023)
5.15.5 StoneRiver Recent Developments
6 North America
6.1 North America Insurance IT Spending Market Size by Country (2018-2029)
6.2 U.S.
6.3 Canada
7 Europe
7.1 Europe Insurance IT Spending Market Size by Country (2018-2029)
7.2 Germany
7.3 France
7.4 U.K.
7.5 Italy
7.6 Russia
7.7 Nordic Countries
7.8 Rest of Europe
8 Asia-Pacific
8.1 Asia-Pacific Insurance IT Spending Market Size by Region (2018-2029)
8.2 China
8.3 Japan
8.4 South Korea
8.5 Southeast Asia
8.6 India
8.7 Australia
8.8 Rest of Asia-Pacific
9 Latin America
9.1 Latin America Insurance IT Spending Market Size by Country (2018-2029)
9.2 Mexico
9.3 Brazil
9.4 Rest of Latin America
10 Middle East & Africa
10.1 Middle East & Africa Insurance IT Spending Market Size by Country (2018-2029)
10.2 Turkey
10.3 Saudi Arabia
10.4 UAE
10.5 Rest of Middle East & Africa
11 Insurance IT Spending Market Dynamics
11.1 Insurance IT Spending Industry Trends
11.2 Insurance IT Spending Market Drivers
11.3 Insurance IT Spending Market Challenges
11.4 Insurance IT Spending Market Restraints
12 Research Finding /Conclusion
13 Methodology and Data Source
13.1 Methodology/Research Approach
13.1.1 Research Programs/Design
13.1.2 Market Size Estimation
13.1.3 Market Breakdown and Data Triangulation
13.2 Data Source
13.2.1 Secondary Sources
13.2.2 Primary Sources
13.3 Disclaimer
13.4 Author List
Published By : QY Research
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