Press Release

Global Digital Insurance Platform Market Size is Expected to Reach 164.13 billion USD by 2023

Date : Dec 10, 2018

The Digital Insurance Platform industry was 78.47 billion USD in 2017 and is projected to reach 164.13 billion USD by 2023, at a CAGR (Compounded Annual Growth Rate) of 13.7% between 2017 and 2023. The market is driven by various end-user industries, such as Insurance Companies, Third-Party Administrators and Brokers, and Aggregators.

The industry is less concentration, the key brand include Accenture (Ireland), TCS (India), IBM (US), DXC (US), SAP (Germany), Oracle (US), Microsoft (US), Infosys (India), Pegasystems (US), Appian (US), Cognizant (US), Mindtree (India), Prima Solutions (France), Fineos (Ireland), Bolt Solutions (US), Majesco (US), EIS Group (US), Cogitate Technology Solutions (US), Inzura (UK), Duck Creek (US), RGI Group (Italy), StoneRiver (US), Vertafore (US), iPipeline (US), and eBaoTech (China).

The leading companies own the advantages on better performance, more abundant product’s types, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of high-end market. Looking to the future years, the slow upward price trend in recent years will maintain. As competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.

The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Market stays in mature period with a clear concentration. Meanwhile, optimize product mix and further develop value-added capabilities to maximize margins.

The Global Digital Insurance Platform Market Research Report 2018 report released by Global QYResearch provides a basic overview of the Digital Insurance Platform industry, including definition, classification, application and industrial chain structure. Discuss development policies and plans as well as manufacturing processes and cost structures.

The report then focuses on major industry players in Global, including company profiles, product images and specifications, sales, market share, and contact information. More importantly, the Digital Insurance Platform industry development trends and marketing channels were analyzed. Providing the main statistical data on the current status of the industry is a valuable guide and direction for companies and individuals interested in the market.

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