Connect with us

Technology

Global Insurance Analytics Strategic Business Report 2022-2024 and 2030 – Growth in Adoption of AI and IoT in Insurance Sector Augurs Well for Insurance Analytics Market

Published

on

DUBLIN, March 1, 2024 /PRNewswire/ — The “Insurance Analytics: Global Strategic Business Report” report has been added to  ResearchAndMarkets.com’s offering.

Global Insurance Analytics Market to Reach $29.7 Billion by 2030

The global market for Insurance Analytics estimated at US$9.8 Billion in the year 2022, is projected to reach a revised size of US$29.7 Billion by 2030, growing at a CAGR of 14.8% over the analysis period 2022-2030.

Tools, one of the segments analyzed in the report, is projected to record 14.4% CAGR and reach US$20 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Services segment is readjusted to a revised 15.9% CAGR for the next 8-year period.

Influencer market insights and world market trajectories highlight the increasing demand for digitalization, advanced analytics, automation, and AI in the insurance sector, which is driving growth for the insurance analytics market. On-demand insurance is also gaining mainstream acceptance, further fueling market expansion. Competition in the insurance analytics market is fierce, with leading insurance software vendors vying for market share. The global insurance market for 2019 saw a percentage share breakdown of value sales by these key vendors.

In 2022, the insurance analytics market is marked by competitive dynamics, with players worldwide categorized based on their market presence as strong, active, niche, or trivial. The impact of COVID-19 and a looming global recession adds another layer of complexity to the market landscape, shaping strategies and market responses moving forward.

The U.S. Market is Estimated at $2.9 Billion, While China is Forecast to Grow at 13.8% CAGR

The Insurance Analytics market in the U.S. is estimated at US$2.9 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$5 Billion by the year 2030 trailing a CAGR of 13.8% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13.6% and 12.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 10.6% CAGR.

MARKET OVERVIEW

Influencer Market InsightsWorld Market TrajectoriesIncreasing Demand for Digitalization, Advanced Analytics, Automation and AI in Insurance Sector Drives Growth for Insurance Analytics MarketOn-Demand Insurance Goes MainstreamCompetitionLeading Insurance Software Vendors in the Global Insurance Analytics MarketGlobal Insurance Market for the Year 2019: Percentage Share Breakdown of Value Sales by Leading VendorsInsurance Analytics – Global Key Competitors Percentage Market Share in 2022 (E)Impact of Covid-19 and a Looming Global RecessionCompetitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

MARKET TRENDS & DRIVERS

Rapid Shift from Report-Driven Strategy to Data-Driven Decision Making in the Insurance Sector Propels Growth for Insurance AnalyticsGlobal Internet Data Generated Per Minute by Various Apps for the Year 2018Fast Adoption of Advanced Insurance Analytics Techniques: An Opportunity IndicatorGlobal Big Data Market: Revenues in US$ Billion by Segment for the Years 2019 and 2025Increasing Demand for Innovative Insurance Analytics Tools and Services Lead to GrowthGrowth in Adoption of AI and IoT in Insurance Sector Augurs Well for Insurance Analytics MarketGlobal IoT Connected Devices Market: Breakdown of Installed Base in Billion for the Years from 2015, 2018, 2021, and 2024Global AI Market: Revenues in US$ Billion for the Years 2015, 2018, 2021, 2024Consumer IoT Offers Significant Growth Opportunities for Insurance Analytics MarketGlobal IoT Market: Spending in US$ Billion by Segment for the Year 2019IoT Faces Data Management, Security and Ownership Challenges in Insurance Analytics MarketProduct OverviewInsurance Analytics: An IntroductionInsurance Analytics: Business ApplicationsProcess OptimizationRisk ManagementCustomer Management and PersonalizationClaims ManagementInsurance Analytics by TypeOn-Demand InsuranceOn-Premise Insurance

FOCUS ON SELECT PLAYERS

Applied Systems Inc.Birst, Inc.BOARD InternationalBridgei2i Analytics SolutionsGuidewire Software, Inc.Hexaware Technologies Ltd.IBM CorporationLexisNexis Group Inc.Microsoft CorporationMicroStrategy, Inc.OpenText CorporationOracle CorporationPalantir TechnologiesPegasystems, Inc.Prads Inc.Qlik Technologies, Inc.Salesforce.com, Inc.SAP SESAS Institute, Inc.Tableau Software, Inc.TIBCO Software, Inc.Verisk Analytics, Inc.Vertafore, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/c01uep

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
 
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
 
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/global-insurance-analytics-strategic-business-report-2022-2024-and-2030—growth-in-adoption-of-ai-and-iot-in-insurance-sector-augurs-well-for-insurance-analytics-market-302077417.html

SOURCE Research and Markets

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

G42 Collaborates with NVIDIA to Deliver Next-Generation Climate Solutions Using Earth-2

Published

on

By

ABU DHABI, UAE, Sept. 20, 2024 /PRNewswire/ — G42, a leader in AI and cloud computing, today announced that it is partnering with NVIDIA to advance climate technology with a focus on developing AI solutions aimed at dramatically enhancing the accuracy of weather forecasting globally.

The collaboration builds on NVIDIA’s Earth-2, an open platform that accelerates climate and weather predictions with interactive, AI-augmented, high-resolution simulation. G42 and NVIDIA will initially focus on a square-kilometer resolution weather forecasting model that improves the accuracy of meteorological predictions.

Key to this initiative is the establishment of a new operational base and Climate Tech Lab in Abu Dhabi. This state-of-the-art facility will serve as a hub for research and development, driving forward both companies’ commitment to environmental sustainability. This facility will also mobilize the creation of tailored climate and weather solutions that leverage over 100 petabytes of geophysical data assets.

Peng Xiao, Group CEO of G42, said, “This initiative with NVIDIA is a testament to our commitment to applying AI in ways that not only innovate but also solve critical global challenges. Establishing the Earth-2 Climate Tech Lab in Abu Dhabi allows us to leverage our unique capabilities and insights to foster a sustainable future for the world.”

In addition to fostering innovation in climate technology, the initiative will focus on building a robust framework for integrating enhanced weather prediction capabilities with comprehensive data metrics and visualization. This will assist organizations worldwide in achieving their sustainability goals through well-informed, data-driven environmental strategies.

“Our collaboration with G42 marks a pivotal step toward harnessing AI to understand and predict climate phenomena with unprecedented accuracy,” said Jensen Huang, founder and CEO of NVIDIA. “The Earth-2 Climate Tech Lab will propel environmental solutions using the most advanced accelerated computing and AI technology to benefit millions of people around the world.”

By uniting G42’s AI expertise with NVIDIA’s computational acumen, this partnership aims to deliver transformative climate solutions that combine scientific accuracy with real-world applicability, driving impactful change across industries and ecosystems.

About G42

G42 is a technology holding group, a global leader in creating visionary artificial intelligence for a better tomorrow. Born in Abu Dhabi and operating worldwide, G42 champions AI as a powerful force for good across industries. From molecular biology to space exploration and everything in between, G42 realizes exponential possibilities, today.
To know more visit www.g42.ai.

Media contacts
Media and PR Team, G42
media@g42.ai

View original content:https://www.prnewswire.co.uk/news-releases/g42-collaborates-with-nvidia-to-deliver-next-generation-climate-solutions-using-earth-2-302253818.html

Continue Reading

Technology

Kawasaki and CB&I Sign Strategic Collaborative Agreement for Promoting Commercial-Use Liquefied Hydrogen Supply Chain

Published

on

By

HOUSTON, Sept. 19, 2024 /PRNewswire/ — Kawasaki Heavy Industries, Ltd. (Kawasaki) and CB&I, a wholly owned unrestricted subsidiary of McDermott, announced today their signing of a strategic agreement for promoting a commercial-use liquefied hydrogen (LH2) supply chain and realizing a zero-carbon-emission society. The signing ceremony took place at Gastech Exhibition & Conference in Houston on September 18, 2024.

“We are very pleased for this opportunity to build and launch a commercial liquefied hydrogen supply chain in cooperation with CB&I,” said Motohiko Nishimura, President, Energy Solutions & Marine Engineering Company, Kawasaki Heavy Industries, Ltd. “By taking advantage of both companies’ strengths and specialized know-how, we aim to cost down hydrogen, strengthen hydrogen supply chain competitiveness, and accelerate the transition to a zero-carbon society.”

Both companies will use their specialized know-how to provide infrastructure that will enable commercial-scale international LH2 supply chains in order to help achieve carbon-neutrality. By leveraging our combined expertise to deliver large-scale LH2 infrastructure solutions, CB&I and Kawasaki are removing barriers, driving down costs and enhancing scalability across the entire supply chain.

“This strategic partnership represents a significant advancement in liquid hydrogen storage capabilities,” said Mark Butts, Senior Vice President of CB&I. “Our technical expertise and extensive experience in liquid hydrogen storage position us at the forefront of the energy transition, delivering reliable storage solutions and executing projects worldwide with proven success.”

Under this agreement, the companies will provide infrastructure to advance the global realization of a sustainable energy economy and meet decarbonization targets. This collaboration will reduce LH2 infrastructure costs and contribute to more widespread use of this clean and efficient energy source.

About CB&I
CB&I is the world’s leading designer and builder of storage facilities, tanks, and terminals. With more than 60,000 structures completed throughout its 130-year history, CB&I has the global expertise and strategically located operations to provide its customers world-class storage solutions for even the most complex energy infrastructure projects. CB&I is a wholly owned unrestricted subsidiary of McDermott. To learn more, visit www.cbi.com.

About McDermott
McDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to commissioning, McDermott’s innovative expertise and capabilities advance the next generation of global energy infrastructure—empowering a brighter, more sustainable future for us all. Operating in over 54 countries, McDermott’s locally-focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.

About Kawasaki Heavy Industries, Ltd.
Kawasaki Heavy Industries, Ltd. is general engineering manufacturer with over 125 years of experience manufacturing products spanning land, sea and air. Kawasaki established the Kawasaki Group’s new vision statement, “Group Vision 2030: Trustworthy Solutions for the Future,” and is focusing on three fields, “A Safe and Secure Remotely-Connected Society,” “Near-Future Mobility,” and “Energy and Environmental Solutions” in order to provide solutions for social issues. For “Energy and Environmental Solutions” in particular, by securing the technology necessary for the entire supply chain (for production, transportation, storage and utilization) ahead of the rest of the world, Kawasaki aims to bring about a society that utilizes hydrogen, the ultimate clean energy that emits no carbon dioxide when used. To learn more, visit https://global.kawasaki.com/en.

Forward-Looking Statements
McDermott cautions that statements in this communication which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties. These forward-looking statements include, among other things, statements about the expected benefits from the collaboration agreement discussed in this press release.  Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit or capital markets; our inability to successfully execute on contracts in backlog; changes in project design or schedules; the availability of qualified personnel; changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties; changes in industry norms; actions by lenders, other creditors, customers and other business counterparties of McDermott and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements. This communication reflects the views of McDermott’s management as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.

For media inquiries, please use the contact information below:

Reba Reid
Global Media Relations
+1 281 588 5636
RReid@McDermott.com

Kristi Krupala-Grove
CB&I Media Relations
+1 346 313 9636
KKrupala2@mcdermott.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/kawasaki-and-cbi-sign-strategic-collaborative-agreement-for-promoting-commercial-use-liquefied-hydrogen-supply-chain-302253698.html

SOURCE McDermott International, Ltd

Continue Reading

Technology

Halal Route Application – Eat, Travel around Thailand, Safe and Sound Halal Style

Published

on

By

BANGKOK, Thailand, Sept. 20, 2024 /PRNewswire/ — The Halal Science Center, Chulalongkorn University has developed Halal Route, an application that lists restaurants, lodging, mosques, prayer directions, and tourist attractions in Thailand under Islamic tourism principles. It hopes to help Muslim tourists travel in Thailand with peace of mind, and supports tourism industry operators to grow and welcome a growing number of Muslim tourists.

The Tourism Authority of Thailand (TAT) predicts that in 2024 there will be around 168 million Islamic tourists worldwide.  According to the Mastercard-Crescent Rating Global Muslim Travel Index (GMTI 2024), Thailand is the 32nd most popular destination for Muslim tourists.  However, the major problem Muslim tourists encounter in Thailand is finding Halal-accredited restaurants, hotels, accommodations, or tourist attractions with service areas (such as prayer rooms) that are compliant with the Islamic way.

Halal Route” is a travel aggregator app that collects searchable information on Halal restaurants, mosques, prayer locations, times, and directions for prayers (the qibla), tourist attractions, Muslim villages or communities, hotels, accommodations, etc.  This app is linked to Google Maps for navigation with precision. It also supports 3 languages, Thai, English, and Arabic, so that Muslim tourists can live and travel more comfortably and with peace of mind,” said Mr.Erfun Weahama, Science Service Officer, Halal Route App development team.

Dr. Anat Denyingyot, Assistant Director of the Halal Science Center, emphasized that the Halal Route application has the most reliable and comprehensive information on halal tourism in Thailand today. “All restaurants and locations have had on-site visits and are audited according to standards approved by a trusted authority or organization, such as certifications from religious organizations or halal food-related entities, as well as management systems to guarantee and be responsible for halal conditions (the HAL-Q system),” Dr. Anat assured.

Currently, the application has more than 1,100 restaurants in its database, and new locations and services are being updated, covering more than 40 provinces from north to south of Thailand that are popular among tourists.

Halal Route is not only for navigation, but a platform that connects Muslim communities from around the world who have the opportunity to visit Thailand,” Associate Professor Dr.Winai Dahlan, Director of the Halal Science Center concluded.

The Halal Route application is free to download on both iOS and Android systems.

Read the full article at https://www.chula.ac.th/en/highlight/185916/  

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/halal-route-application—eat-travel-around-thailand-safe-and-sound-halal-style-302251312.html

SOURCE Chulalongkorn University

Continue Reading

Trending