旅行保険の世界市場：予測（2022年～2027年）

世界の旅行保険の市場規模は、2020年の297億3,000万米ドルから、2027年には516億8,300万米ドルになると予測されており、2020年から2027年までの予測期間中のCAGRは8.22%となっています。

当レポートでは、世界の旅行保険市場について調査分析し、市場力学、市場分析、競合情報、企業プロファイルなど、体系的な情報を提供しています。

目次

第1章 イントロダクション

• 市場概要
• COVID-19シナリオ
• 市場の定義
• 市場セグメンテーション

第2章 調査手法

• 調査データ
• 仮定

第3章 エグゼクティブサマリー

• 調査のハイライト

第4章 市場力学

• 市場促進要因
• 市場抑制要因
• ポーターのファイブフォース分析
  • 供給企業の交渉力
  • バイヤーの交渉力
  • 代替品の脅威
  • 新規参入業者の脅威
  • 業界における競争企業間の敵対関係のある競争
• 業界のバリューチェーン分析

第5章 旅行保険市場：保険プランタイプ別

• イントロダクション
• 旅行キャンセル保険
• 手荷物または携行品の紛失保険
• 医療保険
• その他

第6章 旅行保険市場：アプリケーション別

• イントロダクション
• 国内
• 海外

第7章 旅行保険市場：旅行タイプ別

• イントロダクション
• ビジネス
• レジャー
• 教育

第8章 旅行保険市場：国別

• イントロダクション
• 北米
• 南米
• 欧州
• 中東とアフリカ
• アジア太平洋地域

第9章 競合環境と分析

• 主要企業と戦略分析
• 新興企業と市場の有利性
• 合併、買収、合意、および提携
• ベンダーの競争力マトリックス

第10章 企業プロファイル

• Tata AIG General Insurance Company Limited
• Berkshire Hathaway Specialty Insurance Company
• AXA Assistance
• Seven Corners Inc.
• Allianz Assistance
• Aviva
• Travel Insured International
• Generali Global Assistance & Insurance Services
• Travelex Insurance Services Inc.
• USI Affinity Travel Insurance Services

The travel insurance market is projected to grow at a CAGR of 8.22% during the forecast period to reach US$51.683 billion by 2027, from US$29.730 billion in 2020. Travel Insurance is a protection policy for tourists and travellers, which covers unforeseen losses and damages while travelling. Most travel insurance plans usually primarily cover emergency medical bills while travelling abroad, however comprehensive policies usually include trip cancellation, lost luggage, aircraft delays, public liability, as well as other costs. Travel insurance policies are usually available for both international tourists, as well as domestic travellers.

Market Trend:

The global travel insurance market is expected to rise substantially as countries have started to relax lockdowns and COVID-19 measures. The market has also seen an increase in revenge spending among people, where consumers spend more money on products and services than they normally would, due to the COVID-19 pandemic. Revenge spending has affected the overall economic growth of countries positively and is expected to drive the tourism sector and the travel insurance market. However, developing countries still lag behind in the travel insurance market, mostly due to the rising cost of travel insurance policies. Unless strict measures are implemented for the market prices, the developing countries will continue to lag behind.

Growth Factors

• Increase in travel after the pandemic

Owing to the COVID-19 outbreak and the government-imposed lockdowns, the travel industry saw a massive decline in the market. However, the global tourism sector has been recovering past the pandemic and the tourism sector is expected to see a huge increase in revenue generation. The increase in revenge spending among people has been considered an important factor in this increase in tourism revenue. In January 2022, international tourism continued to improve, with a substantially higher performance than in the first half of 2021. Global foreign tourist visits more than doubled (+130 percent) in January 2022 compared to January 2021, according to the UNWTO; the 18 million additional visitors reported in the first month of this year match the overall rise for the entire year of 2021.

With the increasing higher education market, the travel insurance market demand is also expected to increase post the virus outbreak. Students and parents, mostly from developing countries, have realized the potential for students to receive proper education in countries with developed educational environments. While most countries do not require travel insurance, some countries, like Germany require mandatory travel insurance for students to acquire a Schengen visa. Travel agents also recommend getting travel insurance for countries that do not have public healthcare services, like the USA and China.

• Advancements in the sector

With the growing adoption of smartphones and handheld devices, travel bookings and insurance policies have become more accessible for the common people. Travel agency websites and services have made it easier for consumers to book, transact and cancel tickets and bookings for the users. Travel websites also provide offers and rewards for both domestic and international travelers throughout the year.

The International Medical Group (IMG) has been honored with two Forbes Advisor Best of 2022 Awards categories: Best Travel Insurance Companies of 2022 and Best 'Cancel for Any Reason' Travel Insurance of 2022. IMG was recognized to be one of the best travel insurance companies among 45 other competitors.

Recently, AXA UK Plc, an AXA business entity that provides a wide range of travel services, specialized insurance, and credit protection products, has announced its plan to partner up with Trip.com to extend a travel insurance policy throughout Europe. The travel insurance plan, which has been offered in the UK in September 2021, offers a wide range of advantages, including medical, cancellation, and luggage coverage, and may be selected when booking a ticket on Trip.com, a worldwide travel agency and part of the Trip.com Group. Customers are also protected from cancellation and medical charges if they contract COVID-19 under the coverage. Europe still remains one of the biggest markets for the travel insurance industry, and joint efforts like these really help in uplifting the sector.

Restrain

• Lack of focus on developing countries

Travel insurance has become an important asset for travelers around the world. Some countries have even made travel insurance mandatory for international tourists. However, despite the significant potential of travel insurance, it still happens to be a secondary choice for travellers from developing or small countries. Owing to its non-economical and expensive pricing, travel insurance is considered to be unnecessary by developing countries.

Moreover, the economic growth in these developing nations is usually slower than in other countries, owing to the COVID-19 pandemic and global market scenario. The United Nations Conference on Trade and Development (UNCTAD) has lowered its prediction for global economic growth in 2022 from 3.6 percent to 2.6 percent, warning that developing nations will be the most susceptible. This fall in the economic growth of developing nations would consequently decrease the scope for the travel industry, as well as the travel insurance market. According to data from the UNWTO, the number of foreign visitor arrivals decreased by 84% between March and December 2020 compared to the previous year. Europe, one of the biggest markets for the travel insurance market, also faced massive losses due to the pandemic. According to the data released by the TRAN Committee, the impact of travel and tourism on overall GDP in Europe fell from 9.5 percent in 2019 to 4.9 percent in 2020. In 2020, international tourism arrivals in Europe fell by 70% compared to 2019.

The COVID-19 pandemic left an everlasting effect on the travel insurance market. The government imposed lockdowns, and with the increasing number of people getting affected by the virus, people were forced to cancel travel plans and bookings, leading to the global travel industry facing a massive downfall.

Market Segmentation:

• By Type of Insurance Plan

Trip Cancellation Insurance

Baggage or Personal Item Loss Insurance

Medical Insurance

Others

• By Application

Domestic

International

• By Type of Travel

Business

Leisure

Education

• By Geography

North America

• USA
• Canada
• Mexico

South America

• Brazil
• Argentina
• Others

Europe

• Germany
• France
• United Kingdom
• Spain
• Others

Middle East and Africa

• Saudi Arabia
• Israel
• South Africa
• Others

Asia Pacific

• China
• Japan
• South Korea
• India
• Others

TABLE OF CONTENTS

1. INTRODUCTION

• 1.1. Market Overview
• 1.2. Covid-19 Scenario
• 1.3. Market Definition
• 1.4. Market Segmentation

2. RESEARCH METHODOLOGY

• 2.1. Research Data
• 2.2. Assumptions

3. EXECUTIVE SUMMARY

• 3.1. Research Highlights

4. MARKET DYNAMICS

• 4.1. Market Drivers
• 4.2. Market Restraints
• 4.3. Porters Five Forces Analysis
  • 4.3.1. Bargaining Power of Suppliers
  • 4.3.2. Bargaining Powers of Buyers
  • 4.3.3. Threat of Substitutes
  • 4.3.4. Threat of New Entrants
  • 4.3.5. Competitive Rivalry in the Industry
• 4.4. Industry Value Chain Analysis

5. TRAVEL INSURANCE MARKET, BY TYPE OF INSURANCE PLAN

• 5.1. Introduction
• 5.2. Trip Cancellation Insurance
• 5.3. Baggage or Personal Item Loss Insurance
• 5.4. Medical Insurance
• 5.5. Others

6. TRAVEL INSURANCE MARKET, BY APPLICATION

• 6.1. Introduction
• 6.2. Domestic
• 6.3. International

7. TRAVEL INSURANCE MARKET, BY TYPE OF TRAVEL

• 7.1. Introduction
• 7.2. Business
• 7.3. Leisure 
• 7.4. Education

8. TRAVEL INSURANCE MARKET, BY COUNTRY

• 8.1. Introduction
• 8.2. North America
  • 8.2.1. North America Travel Insurance Market, By Type of Insurance Plan, 2020 to 2027
  • 8.2.2. North America Travel Insurance Market, By Application, 2020 to 2027
  • 8.2.3. North America Travel Insurance Market, By Type of Travel, 2020 to 2027
  • 8.2.4. North America Travel Insurance Market, By Country, 2020 to 2027
    • 8.2.4.1. USA
    • 8.2.4.2. Canada
    • 8.2.4.3. Mexico
• 8.3. South America
  • 8.3.1. South America Travel Insurance Market, By Type of Insurance Plan, 2020 to 2027
  • 8.3.2. South America Travel Insurance Market, By Application, 2020 to 2027
  • 8.3.3. South America Travel Insurance Market, By Type of Travel, 2020 to 2027
  • 8.3.4. South America Travel Insurance Market, By Country, 2020 to 2027
    • 8.3.4.1. Brazil
    • 8.3.4.2. Argentina
    • 8.3.4.3. Others
• 8.4. Europe
  • 8.4.1. Europe Travel Insurance Market, By Type of Insurance Plan, 2020 to 2027
  • 8.4.2. Europe Travel Insurance Market, By Application, 2020 to 2027
  • 8.4.3. Europe Travel Insurance Market, By Type of Travel, 2020 to 2027
  • 8.4.4. Europe Travel Insurance Market, By Country, 2020 to 2027
    • 8.4.4.1. Germany
    • 8.4.4.2. France
    • 8.4.4.3. United Kingdom
    • 8.4.4.4. Spain
    • 8.4.4.5. Others
• 8.5. Middle East and Africa
  • 8.5.1. Middle East and Africa Travel Insurance Market, By Type of Insurance Plan, 2020 to 2027
  • 8.5.2. Middle East and Africa Travel Insurance Market, By Application, 2020 to 2027
  • 8.5.3. Middle East and Africa Travel Insurance Market, By Type of Travel, 2020 to 2027
  • 8.5.4. Middle East and Africa Travel Insurance Market, By Country, 2020 to 2027
    • 8.5.4.1. Saudi Arabia
    • 8.5.4.2. Israel
    • 8.5.4.3. South Africa
    • 8.5.4.4. Others
• 8.6. Asia Pacific
  • 8.6.1. Asia Pacific Travel Insurance Market, By Type of Insurance Plan, 2020 to 2027
  • 8.6.2. Asia Pacific Travel Insurance Market, By Application, 2020 to 2027
  • 8.6.3. Asia Pacific Travel Insurance Market, By Type of Travel, 2020 to 2027
  • 8.6.4. Asia Pacific Travel Insurance Market, By Country, 2020 to 2027
    • 8.6.4.1. China
    • 8.6.4.2. Japan
    • 8.6.4.3. South Korea
    • 8.6.4.4. India
    • 8.6.4.5. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

• 9.1. Major Players and Strategy Analysis
• 9.2. Emerging Players and Market Lucrative
• 9.3. Mergers, Acquisition, Agreements, and Collaborations
• 9.4. Vendor Competitiveness Matrix

10. COMPANY PROFILES

• 10.1. Tata AIG General Insurance Company Limited
• 10.2. Berkshire Hathaway Specialty Insurance Company
• 10.3. AXA Assistance
• 10.4. Seven Corners Inc.
• 10.5. Allianz Assistance
• 10.6. Aviva
• 10.7. Travel Insured International
• 10.8. Generali Global Assistance & Insurance Services
• 10.9. Travelex Insurance Services Inc.
• 10.10. USI Affinity Travel Insurance Services