Portland.OR, May 04, 2021 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global insurance analytics market was pegged at $7.91 billion in 2019 and is anticipated to garner $22.45 billion by 2027 manifesting a CAGR of 14.2% from 2020 to 2027. The report offers an in-depth analysis of the key investment pockets, market player positioning, drivers & opportunities, and business performances of major players.
The growth in adoption of advanced technologies and surge in competition among the insurance sector drive the growth of the global insurance analytics market. However, the stringent government regulations and privacy & security concerns restrain the growth to a certain extent. Nevertheless, the rise in fraudulent activities and untapped potential of emerging economies are expected to create innumerable opportunities in the near future.
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- The outbreak of covid-19 has positively impacted the growth of the global insurance analytics market, owing to increase in utilization and adoption of advanced technologies to provide digitalized services globally.
- In addition, the insurers have largely adopted & implemented insurance analytics solutions globally, due to the potential impacts of insurance analytics & need for advanced analytical solutions
The global insurance analytics market is segmented based on…