Reports
Reports
Sale
The Australia and Canada travel insurance market reached approximately USD 1,820.59 million in 2023. The market is projected to grow at a CAGR of 23.4% between 2024 and 2032, reaching a value of around USD 12,079.47 million by 2032.
Australia and Canada Travel Insurance Market Report Summary | Description | Value |
Base Year | USD Million | 2023 |
Historical Period | USD Million | 2018-2023 |
Forecast Period | USD Million | 2024-2032 |
Market Size 2023 | USD Million | 1,820.59 |
Market Size 2032 | USD Million | 12,079.47 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 23.4% |
CAGR 2024-2032 - Market by Region | Canada | 26.7% |
CAGR 2024-2032 - Market by Region | Australia | 21.1% |
CAGR 2024-2032 - Market by Type | Single Trip | 26.2% |
CAGR 2024-2032 - Market by End Use | Online | 25.7% |
Market Share by Country | Australia | XX% |
The rise in tourism has led to various incidents such as lost luggage, trip cancellations, important document mishaps, and medical emergencies. To address these risks, travellers are choosing to invest in travel insurance, which plays a crucial role in driving the growth of the Australia and Canada travel insurance market. The insurance sector has experienced a significant transformation in recent years, with travel insurance providers in Australia and Canada expanding their online presence through websites and mobile applications.
These digital platforms enable customers to easily research, compare, and purchase travel insurance policies. Furthermore, travel insurance companies are adopting digital claims processing systems, allowing customers to electronically submit and track their claims. In addition, advanced data analytics are being utilised to evaluate risks and customise insurance offerings. Insurers in Australia and Canada are harnessing the power of big data and machine learning to gain insights into customer behaviours, preferences, and travel trends.
The market in Australia and Canada shows varying growth trends by type.
CAGR 2024-2032 - Market by | Type |
Single Trip | 26.2% |
Multi-Trip | 24.6% |
Long-Stay | 22.2% |
Different applications of travel insurance in Australia and Canada exhibit distinct growth rates.
CAGR 2024-2032 - Market by | End Use |
Online | 25.7% |
Insurance Companies | 24.8% |
Banks | 22.5% |
From 2024 to 2032, the market in Canada is expected to grow at a compound annual growth rate (CAGR) of 26.7%, driven by robust economic activities and strong consumer demand, placing it at the top rank. Australia, ranking second, is projected to achieve a CAGR of 21.1%, propelled by increasing industrial investments and expanding market opportunities.
CAGR 2024-2032 - Market by | Country |
Canada | 26.7% |
Australia | 21.1% |
Expert Market Research's industry report provides a comprehensive quantitative analysis of various market segments, historical and current market trends, and forecasts the dynamics of the Australia and Canada travel insurance market spanning from 2018 to 2032.
The research report delivers up-to-date insights into the market drivers, challenges, and opportunities shaping the Australia and Canada travel insurance industry.
Stakeholders can leverage Porter's five forces analysis to assess the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. This analysis aids in evaluating the competitiveness and attractiveness of the Australia and Canada travel insurance market.
The competitive landscape section enables stakeholders to gain a deep understanding of their competitive environment. It offers insights into the current market positions of key players, their strategies, and their market shares.
Additionally, the report highlights emerging trends, regulatory influences, and technological advancements that are pivotal for stakeholders navigating the Australia and Canada travel insurance market landscape.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
Breakup by Type |
|
Breakup by Application |
|
Breakup by Region |
|
Market Dynamics |
|
Competitive Landscape |
|
Companies Covered |
|
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Australia and Canada Travel Insurance Market Overview
8.1 Key Industry Highlights
8.2 Australia and Canada Travel Insurance Historical Market (2018-2023)
8.3 Australia and Canada Travel Insurance Market Forecast (2024-2032)
9 Australia and Canada Travel Insurance Market by Type
9.1 Single Trip
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Annual Multi-Trip
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Long-Stay
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
10 Australia and Canada Travel Insurance Market by Application
10.1 Insurance Companies
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Banks
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Online
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Others
11 Australia and Canada Travel Insurance Market by Country
11.1 Australia
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.1.3 Market by Region
11.1.3.1 New South Wales
11.1.3.2 Victoria
11.1.3.3 Queensland
11.1.3.4 Australian Capital Territory
11.1.3.5 Western Australia
11.1.3.6 Others
11.2 Canada
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.2.3 Market by Region
11.2.3.1 Northern Canada
11.2.3.2 British Columbia
11.2.3.3 Alberta
11.2.3.4 The Prairies
11.2.3.5 Central Canada
11.2.3.6 Atlantic Canada
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyer’s Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Allianz
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 AIG
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 Cover-More
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 Travel Guard
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 AXA
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Others
14 Key Trends and Developments in the Market
Datasheet
Single User License
Five User License
Corporate License
Any Question? Speak With An Analyst
View A Sample
Did You Miss Anything, Ask Now
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.