The latest research study by IMARC Group, “United States Commercial Insurance Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” offers a comprehensive analysis of the industry, which comprises insights on US commercial insurance market size. The United States commercial insurance market is expected to exhibit a CAGR of 10.03% during 2022-2027.
US Commercial Insurance Industry Outlook:
Commercial insurance protects businesses from financial risks, including customer or employee injuries, client lawsuits, and property thefts or damages. It offers more coverage, such as property damage, injury to the employees, cyberattacks, thefts, natural disasters and data breaches, than personal insurance. As a result, it is extensively used in healthcare, manufacturing, energy and utilities, and transportation industries.
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One of the primary factors driving the market is the increasing need to protect businesses from scams in the United States. Additionally, the rising commercial insurance providers in the US and the regular premiums charged on these policies throughout the country are propelling the market growth.
Besides this, the employment of predictive analytics by various commercial insurers to predict business risks and mitigate losses is catalyzing the market growth. Furthermore, extensive adoption of advanced technologies and the substantial investments by the US government to promote the utilization of commercial insurance are also creating a positive market outlook.
|United States Commercial Insurance Market Report Scope|
|Growth Rate||CAGR of 10.03% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization preview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
Key Market Segmentation:
The report has segmented the United States commercial insurance market on the basis of type, enterprise size, distribution channel, industry vertical and region.
Breakup by Type:
- Liability Insurance
- Commercial Motor Insurance
- Commercial Property Insurance
- Marine Insurance
Breakup by Enterprise Size:
- Large Enterprises
- Small and Medium-sized Enterprises
Breakup by Distribution Channel:
- Agents and Brokers
- Direct Response
Breakup by Industry Vertical:
- Transportation and Logistics
- IT and Telecom
- Energy and Utilities
Breakup by Region:
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About IMARC Group:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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