Cloud Services in Insurance Market

Global Cloud Services in Insurance Market Size, Trends & Analysis - Forecasts to 2029 By Service Type (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS)), By Cloud Solutions (Policy Administration, Claims Management, Billing and Invoicing, Customer Relationship Management (CRM), and Risk Management), By End User (Insurance Carriers, Brokers and Agents, and Third-Party Administrators), and By Region (North America, Asia Pacific, Central & South America, Europe, and Middle East and Africa), Competitive Landscape, Company Market Share Analysis, and End User Analysis

Category Electronics, Semiconductors and Information & Communication Technology
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This report was recently updated on April 17 2024 with the latest and most recent market numbers

Global Cloud Services in Insurance Market Size

The global cloud services in insurance market is expected to grow at a CAGR of 14.3% from 2024 to 2029. Cloud services have become increasingly prevalent in the insurance market due to their ability to enhance efficiency, scalability, and data security. Insurance companies are leveraging cloud computing to streamline their operations, improve customer experiences, and drive innovation. Cloud infrastructure allows insurance companies to adapt quickly to changing business needs without significant upfront investment in hardware or software.

The market is driven by technological advancements and changing demographic shifts. Rapid technological advancements, such as artificial intelligence, machine learning, and big data analytics, are reshaping the insurance industry. Insurers are leveraging these technologies to enhance underwriting processes, improve risk assessment accuracy, personalize customer experiences, and detect fraudulent activities more effectively. Demographic trends, including aging populations, urbanization, and shifts in family structures, influence insurance product demand and distribution channels. There is also an opportunity for the cloud to be an ideal platform for running CRM systems because it is secure, reliable, and scalable.

Meeting regulatory requirements often involves significant financial investments in compliance staff, systems, and processes. Insurance companies must allocate resources to ensure they adhere to various laws, regulations, and reporting obligations imposed by federal, state, and international regulatory bodies.

global cloud services in insurance market

Global Cloud Services in Insurance Market: By Service Type

Based on service type, the market is segmented into infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS). The software as a service segment is expected to dominate the market over the forecast period. SaaS offers ready-to-use applications and software solutions hosted on the cloud, eliminating organizations needing to install, maintain, and update software locally. This convenience and accessibility have made SaaS solutions popular among businesses of all sizes, driving significant growth in this segment.

The platform as a service segment is projected to grow fastest during the forecast period. PaaS provides a platform and tools for developers to build, deploy, and manage applications without the complexity of maintaining underlying infrastructure. PaaS offerings enable organizations to accelerate application development, enhance collaboration, and innovate more rapidly by leveraging cloud-based development environments, middleware, and integrated services.

Global Cloud Services in Insurance Market: By Cloud Solutions

Based on cloud solutions, the market is segmented into policy administration, claims management, billing and invoicing, customer relationship management (CRM), and risk management. The policy administration segment is expected to hold the largest share of the market during the forecast period. Policy administration involves the management of insurance policies throughout their lifecycle, including policy issuance, underwriting, endorsements, renewals, and cancellations. As the core function of insurance operations, policy administration systems play a critical role in facilitating policy management, compliance, and customer service.

The customer relationship management (CRM) segment is projected to grow fastest during the forecast period. CRM solutions enable insurers to effectively manage customer interactions, streamline sales and marketing processes, and enhance customer engagement and retention. With increasing competition and evolving customer expectations, insurers prioritize CRM solutions to deliver personalized experiences, optimize customer interactions, and drive business growth.

Global Cloud Services in Insurance Market: By End User

Based on end user, the market is segmented into insurance carriers, brokers and agents, and third-party administrators. The insurance carriers segment is expected to dominate the market over the forecast period. Insurance carriers, or insurance companies, are customers' primary providers of insurance products and services. They underwrite policies, collect premiums, and pay out claims when necessary. Due to their direct interaction with customers and control over product offerings, insurance carriers typically command the largest share of the market.

The third-party administrators segment is projected to grow fastest during the forecast period. Third-party administrators (TPA) provide outsourced administrative services to insurance companies, including claims processing, policy administration, and customer support. With the increasing complexity of insurance operations, many insurance companies outsource non-core functions to specialized TPAs to improve efficiency, reduce costs, and focus on core business activities. This trend has fueled the growth of the TPA segment in recent years, making it one of the fastest-growing segments in the cloud services in insurance market.

asia pacific cloud services in insurance market

Global Cloud Services in Insurance Market: By Region

North America is analyzed to be the largest region in the global cloud services in insurance market during the forecast period. The region hosts a highly developed insurance sector with a strong presence of major insurance carriers and tech-savvy consumers, creating a fertile ground for digital transformation. There is a significant adoption of advanced technologies such as artificial intelligence, big data analytics, and cloud computing among businesses, including insurance companies, driven by the need for operational efficiency and improved customer service.

Asia Pacific is analyzed to be the fastest-growing region in the global cloud services in insurance market during the forecast period. Rapid economic growth in key countries such as China, India, and Southeast Asian nations is increasing the middle-class population, which in turn is boosting demand for insurance products and services. Technological advancements and digitalization are accelerating, encouraging insurance companies to leverage cloud-based solutions to offer innovative, convenient, and personalized insurance products accessible via digital channels. Furthermore, the region has witnessed a surge in start-ups and the emergence of insurtech companies that are inherently digital and cloud-native, challenging traditional insurers to embrace cloud services for competitive advantage. Governments across the Asia Pacific also support digital transformation in the financial sector through favorable policies, investments in digital infrastructure, and regulations promoting cloud adoption while ensuring data security and privacy.

Global Cloud Services in Insurance Market Share and Competitor Analysis

Amazon Web Services (AWS), Microsoft Corporation, IBM Corporation, Oracle Corporation, Salesforce, SAP SE, Cisco Systems, Inc., Dell Technologies Inc., Google Cloud, and Accenture plc are some of the market players operating in the global market.

Please note: This is not an exhaustive list of companies profiled in the report.

1          STRATEGIC INSIGHTS ON NEW REVENUE POCKETS

1.1    Strategic Opportunity & Attractiveness Analysis

1.1.1        Hot Revenue Pockets

1.1.2        Market Attractiveness Score

1.1.3        Revenue Impacting Opportunity

1.1.4        High Growing Region/Country

1.1.5        Competitor Analysis

1.1.6        Consumer Analysis

1.2    Global Market Estimates' View

1.3    Strategic Insights across Business Functions

1.3.1        For Chief Executive Officers

1.3.2        For Chief Marketing Officers

1.3.3        For Chief Strategy Officers

1.4    Evaluate the Potential of your Existing Business Lines vs. New Lines to Enter Into

2          TECHNOLOGICAL TRENDS

2.1   Technological Adoption Rate

2.2   Current Trend Impact Analysis

2.3   Future Trend Impact Analysis

2.4   Data Metrics

3          GLOBAL CLOUD SERVICES IN INSURANCE  MARKET OUTLOOK

3.1   Market Pyramid Analysis

3.1.1        Introduction

3.1.2           Adjacent Market Opportunities

3.1.3           Ancillary Market Opportunities

3.2   Demand Side Analysis

3.2.1           Market Drivers: Impact Analysis

3.2.2           Market Restraints: Impact Analysis

3.2.3           Market Opportunities: Impact Analysis

3.2.4           Market Challenges: Impact Analysis

3.3   Supply Side Analysis

3.3.1           Porter’s Five Forces Analysis

3.3.1.1 Threat of New Entrants

3.3.1.2 Threat of New Substitutes

3.3.1.3 Bargaining Power of Suppliers

3.3.1.4 Bargaining Power of Buyers

3.3.1.5 Intensity of Competitive Rivalry

3.3.2           SWOT Analysis; By Factor (Political & Legal, Economic, and Technological)

3.3.2.1 Political Landscape

3.3.2.2 Economic Landscape

3.3.2.3 Social Landscape

3.3.2.4 Technology Landscape

3.3.3        Value Chain Analysis

3.3.4        Trend Analysis

3.3.5        Gap Analysis

3.3.6        Cost Analysis

4          GLOBAL CLOUD SERVICES IN INSURANCE MARKET, BY SERVICE TYPE

4.1   Introduction

4.2   Cloud Services in Insurance Market: Service Type Scope Key Takeaways

4.3   Revenue Growth Analysis, 2023 & 2029

4.4   Infrastructure as a Service (IaaS)

4.4.1           Infrastructure as a Service (IaaS) Market Estimates and Forecast, 2021-2029 (USD Million)

4.5   Platform as a Service (PaaS)

4.5.1           Platform as a Service (PaaS) Market Estimates and Forecast, 2021-2029 (USD Million)

4.6   Software as a Service (SaaS)

4.6.1           Software as a Service (SaaS) Market Estimates and Forecast, 2021-2029 (USD Million)

5          GLOBAL CLOUD SERVICES IN INSURANCE MARKET, BY CLOUD SOLUTIONS

5.1   Introduction

5.2   Cloud Services in Insurance Market: Cloud Solutions Key Takeaways

5.3   Revenue Growth Analysis, 2023 & 2029

5.4   Policy Administration

5.4.1           Policy Administration Market Estimates and Forecast, 2021-2029 (USD Million)

5.5   Claims Management

5.5.1           Claims Management Market Estimates and Forecast, 2021-2029 (USD Million)

5.6   Billing and Invoicing

5.6.1           Billing and Invoicing Market Estimates and Forecast, 2021-2029 (USD Million)

5.7   Customer Relationship Management (CRM)

5.7.1           Customer Relationship Management (CRM) Market Estimates and Forecast, 2021-2029 (USD Million)

5.8   Risk Management

5.8.1           Risk Management Market Estimates and Forecast, 2021-2029 (USD Million)

6          GLOBAL CLOUD SERVICES IN INSURANCE MARKET, BY END USER

6.1   Introduction

6.2   Cloud Services in Insurance Market: End User Scope Key Takeaways

6.3   Revenue Growth Analysis, 2023 & 2029

6.4   Insurance Carriers

6.4.1           Insurance Carriers Market Estimates and Forecast, 2021-2029 (USD Million)

6.5   Brokers and Agents

6.5.1           Brokers and Agents Market Estimates and Forecast, 2021-2029 (USD Million)

6.6   Third-party Administrators

6.6.1           Third-party Administrators Market Estimates and Forecast, 2021-2029 (USD Million)

7          GLOBAL CLOUD SERVICES IN INSURANCE MARKET, BY REGION

7.1   Introduction

7.2   North America Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.2.1        By Service Type

7.2.2        By Cloud Solutions

7.2.3        By End User

7.2.4        By Country

7.2.4.1     U.S. Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.2.4.1.1        By Service Type

7.2.4.1.2        By Cloud Solutions

7.2.4.1.3        By End User

7.2.4.2     Canada Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.2.4.2.1        By Service Type

7.2.4.2.2        By Cloud Solutions

7.2.4.2.3        By End User

7.2.4.3     Mexico Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.2.4.3.1        By Service Type

7.2.4.3.2        By Cloud Solutions

7.2.4.3.3        By End User

7.3   Europe Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.3.1        By Service Type

7.3.2        By Cloud Solutions

7.3.3        By End User

7.3.4        By Country

7.3.4.1     Germany Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.3.4.1.1        By Service Type

7.3.4.1.2        By Cloud Solutions

7.3.4.1.3        By End User

7.3.4.2     U.K. Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.3.4.2.1        By Service Type

7.3.4.2.2        By Cloud Solutions

7.3.4.2.3        By End User

7.3.4.3     France Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.3.4.3.1        By Service Type

7.3.4.3.2        By Cloud Solutions

7.3.4.3.3        By End User

7.3.4.4     Italy Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.3.4.4.1        By Service Type

7.3.4.4.2        By Cloud Solutions

7.2.4.4.3        By End User

7.3.4.5     Spain Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.3.4.5.1        By Service Type

7.3.4.5.2        By Cloud Solutions

7.2.4.5.3        By End User

7.3.4.6     Netherlands Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.3.4.6.1        By Service Type

7.3.4.6.2        By Cloud Solutions

7.2.4.6.3        By End User

7.3.4.7     Rest of Europe Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.3.4.7.1        By Service Type

7.3.4.7.2        By Cloud Solutions

7.2.4.7.3        By End User

7.4   Asia Pacific Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.4.1        By Service Type

7.4.2        By Cloud Solutions

7.4.3        By End User

7.4.4        By Country

7.4.4.1     China Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.4.4.1.1        By Service Type

7.4.4.1.2        By Cloud Solutions

7.4.4.1.3        By End User

7.4.4.2     Japan Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.4.4.2.1        By Service Type

7.4.4.2.2        By Cloud Solutions

7.4.4.2.3        By End User

7.4.4.3     India Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.4.4.3.1        By Service Type

7.4.4.3.2        By Cloud Solutions

7.4.4.3.3        By End User

7.4.4.4     South Korea Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.4.4.4.1        By Service Type

7.4.4.4.2        By Cloud Solutions

7.4.4.4.3        By End User

7.4.4.5     Singapore Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.4.4.5.1        By Service Type

7.4.4.5.2        By Cloud Solutions

7.4.4.5.3        By End User

7.4.4.6     Malaysia Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.4.4.6.1        By Service Type

7.4.4.6.2        By Cloud Solutions

7.4.4.6.3        By End User

7.4.4.7     Thailand Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.4.4.7.1        By Service Type

7.4.4.7.2        By Cloud Solutions

7.4.4.7.3        By End User

7.4.4.8     Indonesia Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.4.4.8.1        By Service Type

7.4.4.8.2        By Cloud Solutions

7.4.4.8.3        By End User

7.4.4.9     Vietnam Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.4.4.9.1        By Service Type

7.4.4.9.2        By Cloud Solutions

7.4.4.9.3        By End User

7.4.4.10  Taiwan Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.4.4.10.1 By Service Type

7.4.4.10.2 By Cloud Solutions

7.4.4.10.3 By End User

7.4.4.11  Rest of Asia Pacific Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.4.4.11.1 By Service Type

7.4.4.11.2 By Cloud Solutions

7.4.4.11.3 By End User

7.5   Middle East and Africa Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.5.1        By Service Type

7.5.2        By Cloud Solutions

7.5.3        By End User

7.5.4        By Country

7.5.4.1     Saudi Arabia Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.5.4.1.1        By Service Type

7.5.4.1.2        By Cloud Solutions

7.5.4.1.3        By End User

7.5.4.2     U.A.E. Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.5.4.2.1        By Service Type

7.5.4.2.2        By Cloud Solutions

7.5.4.2.3        By End User

7.5.4.3     Israel Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.5.4.3.1        By Service Type

7.5.4.3.2        By Cloud Solutions

7.5.4.3.3        By End User

7.5.4.4     South Africa Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.5.4.4.1        By Service Type

7.5.4.4.2        By Cloud Solutions

7.5.4.4.3        By End User

7.5.4.5     Rest of Middle East and Africa Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.5.4.5.1        By Service Type

7.5.4.5.2        By Cloud Solutions

7.5.4.5.2        By End User

7.6   Central & South America Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.6.1        By Service Type

7.6.2        By Cloud Solutions

7.6.3        By End User

7.6.4        By Country

7.6.4.1     Brazil Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.6.4.1.1        By Service Type

7.6.4.1.2        By Cloud Solutions

7.6.4.1.3        By End User

7.6.4.2     Argentina Eaporative Air Cooler Market Estimates and Forecast, 2021-2029 (USD Million)

7.6.4.2.1        By Service Type

7.6.4.2.2        By Cloud Solutions

7.6.4.2.3        By End User

7.6.4.3     Chile Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.6.4.3.1        By Service Type

7.6.4.3.2        By Cloud Solutions

7.6.4.3.3        By End User

7.6.4.4     Rest of Central & South America Cloud Services in Insurance Market Estimates and Forecast, 2021-2029 (USD Million)

7.6.4.4.1        By Service Type

7.6.4.4.2        By Cloud Solutions

7.6.4.4.3        By End User

8          COMPETITIVE LANDCAPE

8.1   Company Market Share Analysis

8.2   Four Quadrant Positioning Matrix

8.2.1        Market Leaders

8.2.2        Market Visionaries

8.2.3        Market Challengers

8.2.4        Niche Market Players

8.3   Vendor Landscape

8.3.1        North America

8.3.2        Europe

8.3.3        Asia Pacific

8.3.4        Rest of the World

8.4   Company Profiles  

8.4.1        Amazon Web Services (AWS)

8.4.1.1 Business Description & Financial Analysis

8.4.1.2 SWOT Analysis

8.4.1.3 Products & Services Offered

8.4.1.4 Strategic Alliances between Business Partners

8.4.2        Microsoft Corporation

8.4.2.1 Business Description & Financial Analysis

8.4.2.2 SWOT Analysis

8.4.2.3 Products & Services Offered

8.4.2.4 Strategic Alliances between Business Partners

8.4.3        Oracle Corporation

8.4.3.1 Business Description & Financial Analysis

8.4.3.2 SWOT Analysis

8.4.3.3 Products & Services Offered

8.4.3.4 Strategic Alliances between Business Partners

8.4.4        Salesforce

8.4.4.1 Business Description & Financial Analysis

8.4.4.2 SWOT Analysis

8.4.4.3 Products & Services Offered

8.4.4.4 Strategic Alliances between Business Partners

8.4.5        SAP SE

8.4.5.1 Business Description & Financial Analysis

8.4.5.2 SWOT Analysis

8.4.5.3 Products & Services Offered

8.4.5.4 Strategic Alliances between Business Partners

8.4.6        IBM CORPORATION

8.4.6.1 Business Description & Financial Analysis

8.4.6.2 SWOT Analysis

8.4.6.3 Products & Services Offered

8.4.6.4 Strategic Alliances between Business Partners

8.4.7        Cisco Systems, Inc.

8.4.7.1 Business Description & Financial Analysis

8.4.7.2 SWOT Analysis

8.4.7.3 Products & Services Offered

8.4.8.4 Strategic Alliances between Business Partners

8.4.8        Dell Technologies Inc.

8.4.8.1 Business Description & Financial Analysis

8.4.8.2 SWOT Analysis

8.4.8.3 Products & Services Offered

8.4.8.4 Strategic Alliances between Business Partners

8.4.9        Google Cloud

8.4.9.1 Business Description & Financial Analysis

8.4.9.2 SWOT Analysis

8.4.9.3 Products & Services Offered

8.4.9.4 Strategic Alliances between Business Partners

8.4.10      Accenture Plc

8.4.10.1 Business Description & Financial Analysis

8.4.10.2 SWOT Analysis

8.4.10.3 Products & Services Offered

8.4.10.4 Strategic Alliances between Business Partners

8.4.11      Other Companies

8.4.11.1 Business Description & Financial Analysis

8.4.11.2 SWOT Analysis

8.4.11.3 Products & Services Offered

8.4.11.4 Strategic Alliances between Business Partners

9          RESEARCH METHODOLOGY

9.1   Market Introduction

9.1.1        Market Definition

9.1.2           Market Scope & Segmentation

9.2   Information Procurement

9.2.1        Secondary Research

9.2.1.1 Purchased Databases

9.2.1.2 GMEs Internal Data Repository

9.2.1.3 Secondary Resources & Third Party Perspectives

9.2.1.4 Company Information Sources

9.2.2        Primary Research

9.2.2.1 Various Types of Respondents for Primary Interviews

9.2.2.2 Number of Interviews Conducted throughout the Research Process

9.2.2.3 Primary Stakeholders

9.2.2.4 Discussion Guide for Primary Participants

9.2.3        Expert Panels

9.2.3.1 Expert Panels Across 30+ Industry

9.2.4        Paid Local Experts

9.2.4.1 Paid Local Experts Across 30+ Industry Across each Region

9.3   Market Estimation

9.3.1        Top-Down Approach

9.3.1.1 Macro-Economic Indicators Considered

9.3.1.2 Micro-Economic Indicators Considered

9.3.2        Bottom Up Approach

9.3.2.1 Company Share Analysis Approach

9.3.2.2 Estimation of Potential Product Sales

9.4   Data Triangulation

9.4.1        Data Collection

9.4.2           Time Series, Cross Sectional & Panel Data Analysis

9.4.3        Cluster Analysis

9.5   Analysis and Output

9.5.1           Inhouse AI Based Real Time Analytics Tool

9.5.2           Output From Desk & Primary Research

9.6   Research Assumptions & Limitations

9.7.1        Research Assumptions

9.7.2        Research Limitations

LIST OF TABLES

1 Global Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

2 Infrastructure as a Service (IaaS) Market, By Region, 2021-2029 (USD Million) 

3 Platform as a Service (PaaS) Market, By Region, 2021-2029 (USD Million)              

4 SERvice as a Service (SaaS) Market, By Region, 2021-2029 (USD Million)  

5 Global Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)      

6 Policy Administration Market, By Region, 2021-2029 (USD Million)            

7 Claims Management Market, By Region, 2021-2029 (USD Million)

8 Billing and Invoicing Market, By Region, 2021-2029 (USD Million)

9 Customer Relationship Management (CRM) Market, By Region, 2021-2029 (USD Million)

10 Risk Management Market, By Region, 2021-2029 (USD Million)

11 Global Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

12 Insurance Carriers Market, By Region, 2021-2029 (USD Million) 

13 BROKERS AND AGENTS Market, By Region, 2021-2029 (USD Million)

14 THIRD-PARTY ADMINISTRATORS Market, By Region, 2021-2029 (USD Million)

15 Regional Analysis, 2021-2029 (USD Million)              

16 North America Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

17 North America Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

18 North America Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

19 North America Cloud Services in Insurance Market, By Country, 2021-2029 (USD Million)

20 U.S Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

21 U.S Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

22 U.S Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

23 Canada Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

24 Canada Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

25 Canada Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

26 Mexico Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

27 Mexico Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

28 Mexico Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

29 Europe Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

30 Europe Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

31 Europe Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

32 Europe Cloud Services in Insurance Market, By COUNTRY, 2021-2029 (USD Million)

33 Germany Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

34 Germany Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

35 Germany Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

36 UK Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

37 UK Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

38 UK Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

39 France Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

40 France Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

41 France Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

42 Italy Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

43 Italy Cloud Services in Insurance Market, By T End Use Type, 2021-2029 (USD Million)

44 Italy Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

45 Spain Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

46 Spain Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

47 Spain Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

48 Rest Of Europe Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

49 Rest Of Europe Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

50 Rest of Europe Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

51 Asia Pacific Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

52 Asia Pacific Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

53 Asia Pacific Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

54 Asia Pacific Cloud Services in Insurance Market, By Country, 2021-2029 (USD Million)

55 China Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

56 China Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

57 China Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

58 India Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

59 India Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

60 India Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

61 Japan Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

62 Japan Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

63 Japan Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

64 South Korea Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

65 South Korea Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

66 South Korea Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

67 Malaysia Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

68 Malaysia Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

69 Malaysia Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

70 Vietnam Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

71 Vietnam Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

72 Vietnam Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

73 Rest of Asia Pacific Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

74 Rest of Asia Pacific Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

75 Rest of Asia Pacific Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

76 Middle East and Africa Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

77 Middle East and Africa Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

78 Middle East and Africa Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

79 Middle East and Africa Cloud Services in Insurance Market, By Country, 2021-2029 (USD Million)

80 Saudi Arabia Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

81 Saudi Arabia Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

82 Saudi Arabia Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

83 UAE Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

84 UAE Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

85 UAE Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

86 Rest of Middle East and Africa Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

87 Rest of Middle East and Africa Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

88 Rest of Middle East and Africa Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

89 Central & South America Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

90 Central & South America Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

91 Central & South America Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

92 Central & South America Cloud Services in Insurance Market, By Country, 2021-2029 (USD Million)

93 Brazil Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

94 Brazil Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

95 Brazil Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

96 Argentina Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

97 Argentina Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

98 Argentina Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

99 Rest of Central & South America Cloud Services in Insurance Market, By Service Type, 2021-2029 (USD Million)

100 Rest of Central & South America Cloud Services in Insurance Market, By Cloud Solutions, 2021-2029 (USD Million)

101 Rest of Central & South America Cloud Services in Insurance Market, By End User, 2021-2029 (USD Million)

102 Amazon Web Services (AWS): Products & Services Offering

103 Microsoft Corporation: Products & Services Offering   

104 Oracle Corporation: Products & Services Offering           

105 Salesforce: Products & Services Offering               

106 SAP SE: Products & Services Offering           

107 IBM CORPORATION: Products & Services Offering   

108 Cisco Systems, Inc.: Products & Services Offering              

109 Dell Technologies Inc.: Products & Services Offering      

110 GOOGLE CLOUD: Products & Services Offering         

111 Accenture Plc: Products & Services Offering        

112 Other Companies: Products & Services Offering  

LIST OF FIGURES

1 Global Cloud Services in Insurance Market Overview

2 Global Cloud Services in Insurance Market Value From 2021-2029 (USD Million)

3 Global Cloud Services in Insurance Market Share, By Service Type (2023)

4 Global Cloud Services in Insurance Market Share, By Cloud Solutions (2023)

5 Global Cloud Services in Insurance Market Share, By End User (2023)

6 Global Cloud Services in Insurance Market, By Region (Asia Pacific Market)

7 Technological Trends In Global Cloud Services in Insurance Market

8 Four Quadrant Competitor Positioning Matrix

9 Impact Of Macro & Micro Indicators On The Market

10 Impact Of Key Drivers On The Global Cloud Services in Insurance Market

11 Impact Of Challenges On The Global Cloud Services in Insurance Market

12 Porter’s Five Forces Analysis

13 Global Cloud Services in Insurance Market: By Service Type Scope Key Takeaways

14 Global Cloud Services in Insurance Market, By Service Type Segment: Revenue Growth Analysis

15 Infrastructure as a Service (IaaS) Market, By Region, 2021-2029 (USD Million)

16 Platform as a Service (PaaS) Market, By Region, 2021-2029 (USD Million)

17 Infrastructure as a Service (IaaS) Market, By Region, 2021-2029 (USD Million)

18 Global Cloud Services in Insurance Market: By Cloud Solutions Scope Key Takeaways

19 Global Cloud Services in Insurance Market, By Cloud Solutions Segment: Revenue Growth Analysis

20 Policy Administration Market, By Region, 2021-2029 (USD Million)

21 Claims Management Market, By Region, 2021-2029 (USD Million)

22 Billing and Invoicing Market, By Region, 2021-2029 (USD Million)

23 Customer Relationship Management (CRM) Market, By Region, 2021-2029 (USD Million)

24 Global Cloud Services in Insurance Market: By End User Scope Key Takeaways

25 Global Cloud Services in Insurance Market, By End User Segment: Revenue Growth Analysis

26 Insurance Carriers Market, By Region, 2021-2029 (USD Million)      

27 Brokers and Agents Market, By Region, 2021-2029 (USD Million)

28 Third-party Administrators Market, By Region, 2021-2029 (USD Million)

29 Regional Segment: Revenue Growth Analysis

30 Global Cloud Services in Insurance Market: Regional Analysis

31 North America Cloud Services in Insurance Market Overview

32 North America Cloud Services in Insurance Market, By Service Type

33 North America Cloud Services in Insurance Market, By Cloud Solutions

34 North America Cloud Services in Insurance Market, By End User

35 North America Cloud Services in Insurance Market, By Country

36 U.S. Cloud Services in Insurance Market, By Service Type

37 U.S. Cloud Services in Insurance Market, By Cloud Solutions

38 U.S. Cloud Services in Insurance Market, By End User

39 Canada Cloud Services in Insurance Market, By Service Type

40 Canada Cloud Services in Insurance Market, By Cloud Solutions

41 Canada Cloud Services in Insurance Market, By End User

42 Mexico Cloud Services in Insurance Market, By Service Type

43 Mexico Cloud Services in Insurance Market, By Cloud Solutions

44 Mexico Cloud Services in Insurance Market, By End User

45 Four Quadrant Positioning Matrix

46 Company Market Share Analysis

47 Amazon Web Services (AWS): Company Snapshot

48 Amazon Web Services (AWS): SWOT Analysis

49 Amazon Web Services (AWS): Geographic Presence

50 Microsoft Corporation: Company Snapshot

51 Microsoft Corporation: SWOT Analysis

52 Microsoft Corporation: Geographic Presence

53 Oracle Corporation: Company Snapshot

54 Oracle Corporation: SWOT Analysis

55 Oracle Corporation: Geographic Presence

56 Salesforce: Company Snapshot

57 Salesforce: Swot Analysis

58 Salesforce: Geographic Presence

59 SAP SE: Company Snapshot

60 SAP SE: SWOT Analysis

61 SAP SE: Geographic Presence

62 IBM CORPORATION: Company Snapshot

63 IBM CORPORATION: SWOT Analysis

64 IBM CORPORATION: Geographic Presence

65 Cisco Systems, Inc.: Company Snapshot

66 Cisco Systems, Inc.: SWOT Analysis

67 Cisco Systems, Inc.: Geographic Presence

68 Dell Technologies Inc.: Company Snapshot

69 Dell Technologies Inc.: SWOT Analysis

70 Dell Technologies Inc.: Geographic Presence

71 Google Cloud: Company Snapshot

72 Google Cloud: SWOT Analysis

73 Google Cloud: Geographic Presence

74 Accenture Plc: Company Snapshot

75 Accenture Plc: SWOT Analysis

76 Accenture Plc: Geographic Presence

77 Other Companies: Company Snapshot

78 Other Companies: SWOT Analysis

79 Other Companies: Geographic Presence

The Global Cloud Services in Insurance Market has been studied from the year 2019 till 2029. However, the CAGR provided in the report is from the year 2024 to 2029. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

Cloud Services in Insurance Market Size

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Cloud Services in Insurance Market.

Cloud Services in Insurance Market Growth

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Cloud Services in Insurance Market Trends

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

Cloud Services in Insurance Market Share

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Frequently Asked Questions

The global cloud service in insurance market is expected to grow at a CAGR of 14.3% from 2024 to 2029.
The key players operating in the market are Amazon Web Services (AWS), Microsoft Corporation, IBM Corporation, Oracle Corporation, Salesforce, SAP SE, Cisco Systems, Inc., Dell Technologies Inc., Google Cloud, and Accenture plc, among others.
The global cloud service in insurance market is expected to gain opportunities due to technological advancements and changing demographic shifts. There is also an opportunity for cloud to be an ideal platform for running CRM systems because it is secure, reliable, and scalable.
Global cloud service in insurance market growth is driven by factors such as increasing technological advancements and changing demographic shifts, such as aging populations, urbanization, and shifts in family structures.

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