Logistics Insurance Market Analysis by Top Key Players, Size and Share Report By 2025 “Factors responsible for the robust market growth include incorporation of product in the insurance policy and limiting potential risks during the transfer.�
The global Logistics Insurance Market size is expected to value at USD 61.55 billion by 2025. The market is subject to witness a substantial growth due to the rising consumer preference towards customizes insurance products and services. Factors responsible for the robust market growth include incorporation of product in the insurance policy and limiting potential risks during the transfer. The primary goal of the logistics insurance market is to introduce new product in order to increase the after-tax income while charging an appropriate price for the product. Introduction of optimal prices for insurance policies by keeping certain factors in account is expected to favor market growth over the period of time. Globally, the logistics insurance industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market. Growing competition in the market has led to development of different the price optimization technique, thereby propelling market demand in the upcoming years. Organizations offering logistics insurance identify the premium rates on the account of the historical data and price of the product accordingly. The recent technological advancement in the logistic industry coupled with development of tools such as predictive analytical models, what-if scenario simulation, and impact analysis are helping organization to determine product pricing, thereby propelling market demand over the forecast period. Product pricing is considered major enabler that requires a thorough understanding of the market competition, historical data, user preferences, and pricing strategies. Robust growth of the logistics insurance market is majorly attributed to factors such as expansion of logistics market across the globe, the high-end international trade flow and the strong economic growth in the developing economies such as India, China and Brazil. Increasing transportation & infrastructural activities in the Asia Pacific and North America region is anticipated to pay a way for large-scale demand for logistics insurance services in the upcoming years.
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