The global travel insurance market is projected to grow from USD 23.45 billion in 2024 to USD 73.74 billion by 2032, representing a CAGR of 15.4%, according to a new report by SkyQuest Technology Group. The growth is being fueled primarily by international leisure travelers seeking protection during their trips.
The report offers a detailed analysis of market trends, innovation pipelines, competitive landscapes, and investment hotspots. Combining interviews with industry experts and regulatory data, it provides insights into both the “what” and the “why” behind market movements.
The study segments the travel insurance market by coverage type, product type, distribution channel, end user, and region:
Coverage type: Single-trip travel insurance, annual multi-trip insurance, and long-stay travel insurance.
Product type: Trip cancellation, travel medical insurance (including personal accident and emergency medical evacuation), baggage loss, and other products such as flight accident and rental car damage insurance.
Distribution channel: Insurance companies, intermediaries, banks, brokers, online travel agencies (OTAs), travel agents, and other channels including airlines, railways, and ferry operators.
End user: Senior citizens, business travelers, family travelers, and other segments such as education and adventure travelers.
Region: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The report identifies growth opportunities and emerging demand pockets, helping investors and business leaders prioritize strategic moves in a rapidly expanding market.
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