A recent market study published by Future Market Insights on the Pet Insurance Market offers global industry analysis for 2014-2018 & opportunity assessment for 2019-2029. The study offers a comprehensive assessment of pet insurance market dynamics. After conducting a thorough research on the historical, as well as current growth parameters, the growth prospects of the market are obtained with maximum precision.
The global pet insurance market is projected to reach ~US$ 15 Bn by the end of 2029. The market was valued at ~US$ 4 Bn in 2019. If these figures hold true, the market will exhibit a CAGR of ~8.5% between 2019 and 2029. Regionally, North America is expected dominate the market. Key statistics and information, in terms of value and volume, is covered in the report. It offers in-depth insights into factors driving growth in established and emerging market. It studies the competitive landscape in details to help players with necessary insights to navigate through potential challenges.
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Over the past decade, consumer products have been advancing with the emergence of digitization across the globe. With the change in consumer preference towards online markets, companies are changing their go-to market strategies and capabilities in response. Industry players are adjusting themselves according to the ‘digital age’ and are increasing their reliance on online channels as a mean to attract consumers. Penetration of e-commerce in consumer products industry has brought quite remarkable changes through various digital platforms. The market report study gives detailed views on the current situation.
Understanding the Impact of Covid-19 on Global Pet Insurance Market
The recent outbreak of the COVID-19 has adversely affected various markets in the consumer products industry. Penetration of Artificial Intelligence and Big Data Science in the industry is expected to have a positive impact on the market.
Following government’s measures, consumers are practicing social distancing. Consequently companies operating in the Pet Insurance market had to adjust to a new normal of operating through digital means. Additionally, movement restrictions and supply chain disruptions have created impressive growth opportunities for the e-market players.
The FMI’s report provides an interesting chapter on preliminary impact of the COVID-19 on the Pet Insurance market. This allows both leading and emerging key players to understand the market scenario and aid them to tackle the challenges during the crisis.
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Pet Insurance Market: Segmentation
Vital information offered in the FMI’s Pet Insurance market report has been classified into key segments and sub-segments.
By Policy Type
- Accident Only
- Accident & Illness
By End User
- Dog
- Cat
- Horse
- Exotic Pets
- Others
Pet Insurance Market: Competition Analysis
The FMI’s study presents a detailed analysis of global, regional, and country-level players operating in the Pet Insurance market. Competitive information detailed in the Pet Insurance market report has been based on innovative product launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation of key market players. Furthermore, unique growth strategies and mergers & acquisitions (M&A) activities associated with the players are also discussed in the Pet Insurance market report.
Key players covered in the report include:
- Petsure Pty. Ltd.
- Agria Pet Insurance
- Petplan Pet Insurance
- 24PetWatch
Crucial Questions Answered in the Pet Insurance Market Report
- What are some of the latent areas of investments in the global Pet Insurance market?
- Which region is expected to emerge as the most attractive market during the forecast period?
- What trends are likely to change the status quo of the positions held by prominent players in the Pet Insurance market?
- What are the unique strategies adopted by Pet Insurance market players to stay dominant in the industry?
- What are the challenges the global Pet Insurance market is expected to witness in the forecast period?
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Key Offerings of the Report
- Growth Drivers and Challenges: Comprehensive analysis on growth-driving factors and challenges for market players in different regions
- Recent Trends and Forecasts: Detailed assessment on the latest trends, technological developments, and forecasts for a 5-year or 10-year period.
- Segmentation Analysis: Extensive analysis on each segment and factors differentiating the role of these segments in market revenue forecasts and growth rate analysis
- Regional Market Forecast: Comprehensive analysis of each regional market to arm stakeholders with necessary information to take critical decisions
- Competitive Landscape: All-inclusive details on both leading and emerging players vying for a slice of the Pet Insurance market