Financial Protection Market to Reach $77.43 Bn, Globally, by 2030 at 3.9% CAGR: Allied Market Research

Financial Protection Market to Reach $77.43 Bn, Globally, by 2030 at 3.9% CAGR: Allied Market Research

PR Newswire

PORTLAND, Ore., Jan. 12, 2022

- Customization options for income protection insurance and mental peace offered to the insured during the recovery phase drive the growth of the global financial protection market.

PORTLAND, Ore., Jan. 12, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Financial Protection Market by Type (Long-Term Financial Protection and Short-Term Financial Protection), Policy Coverage (Payment Protection and Mortgage Payment Protection), and End User (Men and Women): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global financial protection industry generated $53.34 billion in 2020, and is expected to reach $77.43 billion by 2030, witnessing a CAGR of 3.9% from 2021 to 2030.

AMR Logo

Drivers, Restraints, and Opportunities

Customization options for income protection insurance and mental peace offered to the insured during the recovery phase drive the growth of the global financial protection market. However, long waiting periods for certain insurance policies and pre-existing medical conditions impacting the premiums hinder the market growth. On the other hand, instability of the employment rate creates new opportunities in the coming years.

Download Sample PDF (239+ Pages PDF with Insights): https://www.alliedmarketresearch.com/request-sample/5023 

Covid-19 Scenario

The long-term financial protection segment to continue its lead position during the forecast period

Based on type, the long-term financial protection segment accounted for the highest share in 2020, contributing to nearly three-fifths of the global financial protection market, and is expected to continue its lead position during the forecast period. Moreover, this segment is projected to register the fastest CAGR of 4.8% from 2021 to 2030. As this type provides peace of mind to the insured people by allowing them to keep up with all their essential monthly expenditures such as rent, mortgage, groceries, and utility bills, this segment will offer lucrative opportunities during the forecast period. The report also analyzes the short-term financial protection segment.

Get detailed COVID-19 impact analysis on the Financial Protection Market @ https://www.alliedmarketresearch.com/request-for-customization/5023?reqfor=covid

The payment protection segment to maintain its lead in terms of revenue during the forecast period

Based on policy coverage, the payment protection segment contributed to the largest share in 2020, accounting for nearly three-fourths of the global financial protection market, and is projected to maintain its lead in terms of revenue during the forecast period. This is attributed to the regular flow of salary or payments in the case of unfortunate events and offering of opportunity to live a financially stable life. However, the mortgage payment protection segment is projected to manifest the largest CAGR of 5.6% from 2021 to 2030. This is due to ability of the insured to continue paying off the mortgage even when they are not receiving a secure income.

Europe, followed by North America, to continue its dominance in terms of revenue by 2030

Based on region, Europe, followed by North America, held the highest market share in 2020, contributing to around one-third of the global financial protection market, and is expected to continue its dominance in terms of revenue by 2030. This is due to surge in adoption of financial protection plans amid the pandemic and supportive minimum income protection (MIP) schemes for able-bodied people during the first five years of working. However, Asia-Pacific is estimated to portray the highest CAGR of 6.1% from 2021 to 2030, owing to rise in inequality and the need to build resilience to crises such as economic & financial crises and natural disasters.

Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business @ https://www.alliedmarketresearch.com/purchase-enquiry/5023

Leading Market Players

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter   

Get more information: https://www.alliedmarketresearch.com/library-access

Related Reports:

Digital Gift Card Market Size Is Projected To Reach $ 1,101.03 Billion By 2030

AI In Banking Market Size Is Projected To Reach $64.03 Billion By 2030

Trade Finance Market Size Is Projected To Reach $90,212 Million By 2030

NFC Payment Devices Market Size Is Projected To Reach $67.71 Billion By 2028

Core Banking Solutions Market Size Is Projected To Reach $28,785.85 Million By 2027

Mutual Fund Assets Market Size Is Projected To Reach $101.2 Trillion By 2027

Digital Banking Platform Market Size Is Projected To Reach $10.87 Billion By 2027

Open Banking Market Size Is Expected To Reach $43,152 Million By 2026

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact Us:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com     
Web: https://www.alliedmarketresearch.com 

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

Voltar noticias em Inglês