Endowment Insurances Market was valued at USD 110 Billion in 2022 and is projected to reach USD 160 Billion by 2030, growing at a CAGR of 4.5% from 2024 to 2030.
The global endowment insurance market has witnessed significant shifts between 2018 and 2022, with a strong demand growth trajectory observed across various regions. In this period, endowment insurances gained popularity due to their dual benefit of insurance protection and investment opportunities. The demand was primarily driven by increasing awareness of the need for financial security, particularly among middle-income households, and a greater understanding of the long-term benefits offered by such policies. During these years, Asia-Pacific markets, led by countries like China and India, saw robust growth due to expanding middle classes, while mature markets like the United States and Europe continued to see steady but slower growth.
In 2023, the demand for endowment insurances is expected to experience a noticeable increase, which will continue to rise until 2033. This growth can be attributed to several key factors, including the aging population across developed nations and the increasing shift towards alternative investment strategies in uncertain economic times. Rising life expectancy and a greater focus on wealth management have driven more consumers to opt for endowment insurance policies, which not only provide life cover but also allow policyholders to accumulate a cash value over time. Furthermore, the evolution of digital platforms and the rise of insurtech is making it easier for individuals to access and manage their policies, thus broadening the customer base for endowment products.
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Chubb
Sun Life Philippines
Tokio Marine
AIA Group
Royal London
AMP Life
BDO Life
ICICI Prudential Life
My Insurance Club
Edelweiss Tokio Life Insurance Company Limited
Eindiainsurance
New China Life Insurance
PICC Life Insurance
Ping An Insurance
Taiping Pension Co.
Ltd.
Changjiang Pension Insurance Co.
Ltd.
Taikang Pension
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Endowment Insurances Market
Adults
Senior Citizens
Based on Types the Market is categorized into Below types that held the largest Endowment Insurances market share In 2023.
Ten Years
Fifteen Years
Twenty Years
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Endowment Insurances Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Endowment Insurances Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Endowment Insurances Market, By Type
6. Global Endowment Insurances Market, By Application
7. Global Endowment Insurances Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Endowment Insurances Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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