Sample Global Insurance IT

Global Insurance IT Spending Market
Report 2022

GlobalInsurance ITSpendingMarket Report 2022
2
Table of Content
Chapter 1 Executive Summary........................................................................................15
1.1 Global Insurance IT Spending Market Report Scope:....................................................15
1.2 Global Insurance IT Spending Market, 2016 – 2028, (USD Million)................................16
1.3 Global Insurance IT Spending Market: Snapshot..........................................................17
Chapter 2 Insurance IT Spending Market Overview......................................................19
2.1 Product Overview and Scope of Insurance IT Spending................................................19
2.2 Insurance IT Spending Segment by Types ....................................................................20
2.2.1 Global InsuranceITSpending Revenue(USD Million) and Growth Rate (%)
Comparison by Types (2016-2022) .................................................................. 20
2.2.2 Global Insurance IT Spending Revenue Market Share (%) by Types in 2020......... 20
2.2.3 Software Spending........................................................................................ 21
2.2.4 Hardware Spending....................................................................................... 22
2.2.5 IT services Spending ...................................................................................... 23
2.3 Insurance IT Spending Segment by Applications ..........................................................24
Comparison by Applications (2016-2022)......................................................... 24
2.3.2 Global InsuranceITSpending RevenueMarket Share(%) by Applications
in 2020......................................................................................................... 24
2.3.3 Commercial PandC Insurance ......................................................................... 26
2.3.4 Personal PandC Insurance.............................................................................. 27
2.3.5 Health and Medical Insurance ........................................................................ 28
2.3.6 Life and Accident Insurance............................................................................ 29
2.3.7 Insurance Administration and Risk Consulting.................................................. 30
2.4 Global Insurance IT Spending Market by Regions (2016-2022)......................................31
2.4.1 Global InsuranceITSpending Market Sizeand Growth Rate (%)
Comparison by Regions (2016-2022) ............................................................... 31
2.4.2 North America Insurance IT Spending Status and Prospect (2016-2028).............. 33
2.4.3 Europe Insurance IT Spending Status and Prospect (2016-2028)......................... 34
2.4.4 Asia Pacific Insurance ITSpending Status and Prospect (2016-2028)................... 35
2.4.5 Latin America Insurance ITSpending Status and Prospect (2016-2028) ............... 36
2.4.6 Middle East and Africa InsuranceITSpending Status and Prospect (2016-
2028) ........................................................................................................... 37

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2.5 Global Insurance IT Spending Market Size (2016-2028) ................................................38
2.5.1 Global Insurance IT Spending Revenue Status and Outlook (2016-2028) ............. 38
Chapter 3 Global Insurance IT Spending Market Competition by
Manufacturers (Subject To Data Availability)...............................................39
3.1 Global Insurance IT Spending Revenue and Share by Manufacturers (2016-2020).........39
Chapter 4 COVID – 19 Impact Analysis on Insurance IT Spending Market...................42
4.1 Global Market – COVID – 19 Impact Analysis...............................................................42
4.1.1 Influencing Factors........................................................................................ 43
4.1.2 Forecast Assumptions.................................................................................... 43
4.1.3 Impact of COVID-19 on Global Insurance ITSpending Market............................ 44
4.2 Consumer Buying Behavior on Global Insurance IT Spending Market ...........................45
4.3 Global Insurance IT Spending Market – PESTEL Analysis...............................................46
4.3.1 America........................................................................................................ 47
4.3.2 Europe......................................................................................................... 47
4.3.3 Asia Pacific ................................................................................................... 47
4.3.4 Latin America................................................................................................ 48
4.3.5 Middle East & Africa ...................................................................................... 48
4.4 Global Insurance IT Spending Market – Porters Five Forces Analysis ............................49
Chapter 5 Insurance IT Spending Market – Industry Analysis.......................................50
5.1 Market Drivers...........................................................................................................50
5.1.1 Drivers for Insurance IT Spending Market: Impact Analysis................................ 50
5.2 Market Restraints.......................................................................................................51
5.2.1 Restraints for Insurance IT Spending Market: Impact Analysis ........................... 51
5.3 Opportunity...............................................................................................................52
5.4 Market Attractiveness Analysis...................................................................................53
5.4.1 Market Attractiveness Analysis by Product Segment ........................................ 53
5.4.2 Market Attractiveness Analysis by Application................................................. 54
5.4.3 Market Attractiveness Analysis by Regional Segment....................................... 55
Chapter 6 Global Insurance IT Spending Sales by Regions (2016-2022).......................56
6.1 Global Insurance IT SpendingRevenue and Market Share (%) by Regions(2016-
2022)..........................................................................................................................56

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Chapter 7 North America Insurance IT Spending Market Development Status
and Outlook....................................................................................................58
7.1 North America Insurance IT Spending Market by Country, 2016-2022 ..........................58
7.2 North America Insurance IT Spending Market Size (2016-2022)....................................58
7.2.1 North America InsuranceITSpending Market (USD Million) Size by Types
(2016-2022) .................................................................................................. 59
7.2.2 North America InsuranceITSpending Market (USD Million) Size by
Applications (2016-2022) ............................................................................... 60
Chapter 8 Europe Insurance IT Spending Market Development Status and
Outlook...........................................................................................................61
8.1 Europe Insurance IT Spending Market by Country, 2016-2022......................................61
8.2 Europe Insurance IT Spending Market Size (2016-2022) ...............................................61
8.2.1 EuropeInsuranceITSpending Market (USD Million) Size by Types (2016-
2022) ........................................................................................................... 62
8.2.2 EuropeInsuranceITSpending Market (USD Million) Size by Applications
(2016-2022) .................................................................................................. 63
Chapter 9 Asia Pacific Insurance IT Spending Market Development Status and
Outlook...........................................................................................................64
9.1 Asia Pacific Insurance IT Spending Market by Country, 2016-2022................................64
9.2 Asia Pacific Insurance IT Spending Market Size (2016-2022) .........................................64
9.2.1 Asia Pacific InsuranceITSpending Market (USD Million) Size by Types
(2016-2022) .................................................................................................. 65
9.2.2 Asia Pacific InsuranceITSpending Market (USD Million) Size by
Applications (2016-2022) ............................................................................... 66
Chapter 10 Latin America Insurance IT Spending Market Development Status
and Outlook....................................................................................................67
10.1 Latin America Insurance IT Spending Market by Country, 2016-2022............................67
10.2 Latin America Insurance IT Spending Market Size (2016-2022) .....................................67
10.2.1 Latin America InsuranceITSpending Market (USD Million) Size by Types
(2016-2022) .................................................................................................. 68
10.2.2 Latin America InsuranceITSpending Market (USD Million) Size by
Applications (2016-2022) ............................................................................... 69
Chapter 11 Middle East and Africa Insurance IT Spending Market Development
Status and Outlook ........................................................................................70

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11.1 Middle East and Africa Insurance IT Spending Market by Country, 2016-2022 ..............70
11.2 Middle East and Africa Insurance IT Spending Market Size (2016-2022)........................70
11.2.1 Middle East and Africa InsuranceITSpending Market (USD Million) Size by
Types (2016-2022)......................................................................................... 71
Applications (2016-2022) ............................................................................... 72
Chapter 12 Global Insurance IT Spending Market Revenue (Value) by Types...............73
12.1 Global Insurance IT SpendingRevenue and Market Share (%) by Types (2016-
2022)..........................................................................................................................73
Chapter 13 Global Insurance IT Spending Market Revenue (Value) by
Applications....................................................................................................75
13.1 Global Insurance IT SpendingRevenue and Market Share (%) by Applications
(2016-2022)................................................................................................................75
Chapter 14 Global Insurance IT Spending Manufacturers Profiles/Analysis..................77
14.1 Oracle ........................................................................................................................77
14.1.1 Oracle Basic Information, Manufacturing Base, SalesArea and its
Competitors.................................................................................................. 77
14.1.2 Insurance ITSpending Types Specification ....................................................... 77
14.1.3 Financials ..................................................................................................... 78
14.1.4 Main Business/Business Overview.................................................................. 78
14.2 Guidewire Software....................................................................................................79
14.3 SAP............................................................................................................................79
14.4 EXL Service.................................................................................................................79
14.5 Microsoft...................................................................................................................79
14.6 Genpact .....................................................................................................................79
14.7 CSC.............................................................................................................................79
14.8 Majesco.....................................................................................................................79
14.9 Accenture...................................................................................................................79
14.10 Andesa.......................................................................................................................79
14.11 Fiserv.........................................................................................................................79
14.12 Cognizant...................................................................................................................79
14.13 Pegasystems...............................................................................................................79
14.14 FIS..............................................................................................................................79
Chapter 15 Insurance IT Spending Manufacturing Cost Analysis....................................80

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15.1 Key Raw Material Analysis..........................................................................................80
15.2 Key Distributors of Raw Materials...............................................................................81
15.3 Proportion of Manufacturing Cost Structure................................................................82
15.3.1 Labor Cost .................................................................................................... 83
15.3.2 USA Labor CostAnalysis.................................................................................. 83
15.3.3 EU Labor Costs Analysis ................................................................................. 83
15.3.4 China Labor Costs Analysis............................................................................. 84
15.3.5 Manufacturing Expenses................................................................................ 84
Chapter 16 Market Effect Factors Analysis......................................................................85
16.1 Consumer Needs/Customer Preference Change ..........................................................85
16.2 Economic/Political Environmental Change ..................................................................85
Chapter 17 Industrial Chain, Sourcing Strategy, and Downstream Buyers ....................88
17.1 Insurance IT Spending Chain Analysis..........................................................................88
17.2 List of Downstream Buyers .........................................................................................89
17.3 List of Distributors......................................................................................................90
Chapter 18 Marketing Strategy Analysis..........................................................................91
18.1 Marketing Channel.....................................................................................................91
18.1.1 Direct Marketing........................................................................................... 92
18.1.2 Indirect Marketing......................................................................................... 92
18.1.3 Indirect Marketing......................................................................................... 92
18.2 Market Positioning.....................................................................................................93
18.2.1 Pricing Strategy............................................................................................. 93
Chapter 19 Global Insurance IT Spending Market Forecast (2022-2028) .......................94
19.1 Global Insurance IT Spending Revenue Forecast (2022-2028) .......................................94
Forecast (2022-2028) ..................................................................................... 94
19.2 Global Insurance IT SpendingRevenue (USDMillion) Forecastby Regions(2022-
2028)..........................................................................................................................95
19.2.1 North America InsuranceITSpending Revenue(USD Million) Forecast
(2022-2028) .................................................................................................. 96
19.2.2 Europe Insurance IT Spending Revenue (USD Million) Forecast (2022-2028)........ 96
19.2.3 Asia Pacific InsuranceITSpending Revenue(USD Million) Forecast (2022-
2028) ........................................................................................................... 96

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19.2.4 Latin America InsuranceITSpending Revenue(USD Million) Forecast
(2022-2028) .................................................................................................. 97
19.2.5 Middle East and Africa InsuranceITSpending Revenue(USD Million)
Forecast (2022-2028) ..................................................................................... 97
19.3 Global Insurance IT Spending Revenue and Forecast by Types (2022-2028) ..................99
19.4 Global Insurance IT Spending Revenue and Forecast by Applications (2022-2028) ........99
Chapter 20 North America Insurance IT Spending Market Forecast 2022- 2028.........101
20.1 North America.......................................................................................................... 101
20.1.1 North America Insurance IT Spending Market by Country, 2022-2028 .............. 101
20.1.2 North America Insurance IT Spending Market Size (2022-2028) ....................... 102
20.1.3 North America InsuranceITSpending Market (USD Million) Size by Types
(2022-2028) ................................................................................................ 103
20.1.4 North America Insurance IT Spending Revenue Market Sizeby Types 2024....... 104
20.1.5 North America InsuranceITSpending Market (USD Million) Size by
Applications (2022-2028) ............................................................................. 104
20.1.6 North America InsuranceITSpending RevenueMarket Sizeby
Applications 2024........................................................................................ 105
Chapter 21 Europe Insurance IT Spending Market Forecast 2022- 2028......................106
21.1 Europe ..................................................................................................................... 106
21.1.1 Europe Insurance IT Spending Market by Country, 2022-2028 ......................... 106
21.1.2 Europe Insurance IT Spending Market Size (2022-2028) .................................. 107
21.1.3 EuropeInsuranceITSpending Market (USD Million) Size by Types (2022-
2028) ......................................................................................................... 108
21.1.4 Europe Insurance IT Spending Revenue Market Sizeby Types 2024.................. 109
21.1.5 EuropeInsuranceITSpending Market (USD Million) Size by Applications
(2022-2028) ................................................................................................ 109
21.1.6 Europe Insurance IT Spending Revenue Market Sizeby Applications 2024 ........ 110
Chapter 22 Asia Pacific Insurance IT Spending Market Forecast 2022- 2028...............111
22.1 Asia Pacific............................................................................................................... 111
22.1.1 Asia Pacific Insurance ITSpending Market by Country, 2022-2028.................... 111
22.1.2 Asia Pacific Insurance ITSpending Market Size (2022-2028)............................. 112
22.1.3 Asia Pacific InsuranceITSpending Market (USD Million) Size by Types
(2022-2028) ................................................................................................ 113
22.1.4 Asia Pacific Insurance ITSpending Revenue Market Size by Types 2024............ 114

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22.1.5 Asia Pacific InsuranceITSpending Market (USD Million) Size by
Applications (2022-2028) ............................................................................. 114
22.1.6 Asia Pacific InsuranceITSpending RevenueMarket Sizeby Applications
2024........................................................................................................... 115
Chapter 23 Latin America Insurance IT Spending Market Forecast 2022- 2028...........116
23.1 Latin America........................................................................................................... 116
23.1.1 Latin America Insurance ITSpending Market by Country, 2022-2028................ 116
23.1.2 Latin America Insurance ITSpending Market Size (2022-2028)......................... 117
23.1.3 Latin America InsuranceITSpending Market (USD Million) Size by Types
(2022-2028) ................................................................................................ 118
23.1.4 Latin America Insurance ITSpending Revenue Market Size by Types 2024 ........ 119
23.1.5 Latin America InsuranceITSpending Market (USD Million) Size by
Applications (2022-2028) ............................................................................. 119
23.1.6 Latin America InsuranceITSpending RevenueMarket Sizeby Applications
2024........................................................................................................... 120
Chapter 24 Middle East and Africa Insurance IT Spending Market Forecast
2022- 2028....................................................................................................121
24.1 Middle East and Africa.............................................................................................. 121
24.1.1 Middle East and Africa InsuranceITSpending Market by Country, 2022-
2028........................................................................................................... 121
24.1.2 Middle East and Africa Insurance ITSpending Market Size (2022-2028) ............ 122
Types (2022-2028)....................................................................................... 123
24.1.4 Middle East and Africa InsuranceITSpending RevenueMarket Sizeby
Types 2024................................................................................................. 124
Applications (2022-2028) ............................................................................. 124
24.1.6 Middle East and Africa InsuranceITSpending RevenueMarket Sizeby
Applications 2024........................................................................................ 125
Chapter 25 Research Findings and Conclusion ..............................................................127
25.1 Key Insights from Primary Interviews& Survey’s Respondents .................................. 127
25.2 Key Takeaways from Analysts, Consultants, and Industry Leaders.............................. 128
Chapter 26 Research Methodology................................................................................130
26.1.1 Secondary Research: ................................................................................... 131

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26.1.2 Primary Research ........................................................................................ 132
26.2 Market Size Estimation Methodology........................................................................ 133
26.2.1 Market Value Is Estimated Using: Top-Down Analysis and Bottom-Up
Analysis...................................................................................................... 133
26.3 Data Triangulation.................................................................................................... 134

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List of Figures
FIG. 1 Regional Overview 15
FIG. 2 Global Insurance IT Spending Market, 2016 – 2028, (USD Million) 16
FIG. 3 Global Insurance IT Spending Revenue Market Share (%) by Types in 2020 20
FIG. 4 Global Software Spending Market Revenue (USD Million) and Growth Rate (%),
(2016 – 2028) 21
FIG. 5 Global Hardware Spending Market Revenue (USD Million) and Growth Rate (%),
(2016 – 2028) 22
FIG. 6 Global IT services Spending Market Revenue (USD Million) and Growth Rate (%),
(2016 – 2028) 23
FIG. 7 Global Insurance IT Spending Revenue Market Share (%) by Applications in 2020 24
FIG. 8 Global Commercial PandC Insurance Market Revenue (USD Million) and Growth
Rate (%), (2016 – 2028) 26
FIG. 9 Global Personal PandC Insurance Market Revenue (USD Million) and Growth
Rate (%), (2016 – 2028) 27
FIG. 10 Global Health and Medical Insurance Market Revenue (USD Million) and Growth
Rate (%), (2016 – 2028) 28
FIG. 11 Global Life and Accident Insurance Market Revenue (USD Million) and Growth
Rate (%), (2016 – 2028) 29
FIG. 12 Global Insurance Administration and Risk Consulting Market Revenue (USD
Million) and Growth Rate (%), (2016 – 2028) 30
FIG. 13 Global Insurance IT Spending Market Size Comparison and Growth Rate (%) by
Regions (2016-2022) 31
FIG. 14 North America Insurance IT Spending Revenue (USD Million) and Growth Rate
(2016-2028) 33
FIG. 15 Europe Insurance IT Spending Revenue (USD Million) and Growth Rate (2016-
2028) 34
FIG. 16 Asia Pacific Insurance IT Spending Revenue (USD Million) and Growth Rate
(2016-2028) 35
FIG. 17 Latin America Insurance IT Spending Revenue (USD Million) and Growth Rate
(2016-2028) 36
FIG. 18 Middle East and Africa Insurance IT Spending Revenue (USD Million) and Growth
Rate (2016-2028) 37
FIG. 19 Global Insurance IT Spending Revenue (USD Million) Status and Outlook (2016-
2028) 38
FIG. 20 2018 Global Insurance IT Spending Revenue Share by Manufacturers 41
FIG. 21 Global Insurance IT Spending Market – PESTEL Analysis 46
FIG. 22 Porter’s five forces analysis 49
FIG. 1 Market Attractiveness Analysis by Product Segment 53
FIG. 2 Market Attractiveness Analysis by Application 54
FIG. 3 Market Attractiveness Analysis by Regional Segment 55
FIG. 4 Global Insurance IT Spending Revenue Market Share (%) by Regions (2016-2022) 57
FIG. 5 Global Insurance IT Spending Revenue Market Share (%) by Regions, 2020 57

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FIG. 6 North America Insurance IT Spending Market Share (%) by Country (2016-2022) 58
FIG. 7 North America Insurance IT Spending Market Size by Types 2020 59
FIG. 8 North America Insurance IT Spending Market Size by Applications 2020 60
FIG. 9 Europe Insurance IT Spending Market Share (%) by Country (2016-2022) 61
FIG. 10 Europe Insurance IT Spending Market Size by Types 2020 62
FIG. 11 Europe Insurance IT Spending Market Size by Applications 2020 63
FIG. 12 Asia Pacific Insurance IT Spending Market Share (%) by Country (2016-2022) 64
FIG. 13 Asia Pacific Insurance IT Spending Market Size by Types 2020 65
FIG. 14 Asia Pacific Insurance IT Spending Market Size by Applications 2020 66
FIG. 15 Latin America Insurance IT Spending Market Share (%) by Country (2016-2022) 67
FIG. 16 Latin America Insurance IT Spending Market Size by Types 2020 68
FIG. 17 Latin America Insurance IT Spending Market Size by Applications 2020 69
FIG. 18 Middle East and Africa Insurance IT Spending Market Share (%) by Country
(2016-2022) 70
FIG. 19 Middle East and Africa Insurance IT Spending Market Size by Types 2020 71
FIG. 20 Middle East and Africa Insurance IT Spending Market Size by Applications 2020 72
FIG. 21 Global Insurance IT Spending Market Revenue Share (%) by Types (2016-2022) 74
FIG. 22 2020 Revenue Market Share (%) of Insurance IT Spending by Types 74
FIG. 23 Global Insurance IT Spending Market Revenue Share (%) by Applications (2016-
2022) 76
FIG. 24 2020 Revenue Market Share (%) of Insurance IT Spending by Applications 76
FIG. 25 Oracle Revenue Market Share (%) (2016-2020) 78
FIG. 26 Price Trend of Key Raw Materials 80
FIG. 27 Manufacturing Cost Structure of Insurance IT Spending 82
FIG. 28 Economic/Political Environmental Change 85
FIG. 29 Insurance IT Spending Chain Analysis 88
FIG. 30 Marketing Channel Framework 91
FIG. 31 Global Insurance IT Spending Revenue (USD Million) and Growth Rate (%)
Forecast (2022-2028) 94
FIG. 32 Global Insurance IT Spending Revenue (USD Million) Market Share (%) Forecast
by Regions (2022-2028) 95
FIG. 33 North America Insurance IT Spending Revenue (USD Million) and Growth Rate
(%) Forecast (2022-2028) 96
FIG. 34 Europe Insurance IT Spending Revenue (USD Million) and Growth Rate (%)
Forecast (2022-2028) 96
FIG. 35 Asia Pacific Insurance IT Spending Revenue (USD Million) and Growth Rate (%)
Forecast (2022-2028) 96
FIG. 36 Latin America Insurance IT Spending Revenue (USD Million) and Growth Rate (%)
Forecast (2022-2028) 97
FIG. 37 Middle East and Africa Insurance IT Spending Revenue (USD Million) and Growth
Rate (%) Forecast (2022-2028) 97

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FIG. 38 Global Insurance IT Spending Revenue Market Share (%) Forecast by Types
(2022-2028) 99
FIG. 39 Global Insurance IT Spending Revenue Market Share (%) Forecast by
Applications (2022-2028) 100
FIG. 40 North America Insurance IT Spending Market Share (%) by Country (2022-2028) 102
FIG. 41 North America Insurance IT Spending Revenue Market Size by Types 2022 104
FIG. 42 North America Insurance IT Spending Revenue Market Size by Applications 2022 105
FIG. 43 Europe Insurance IT Spending Market Share (%) by Country (2022-2028) 107
FIG. 44 Europe Insurance IT Spending Revenue Market Size by Types 2022 109
FIG. 45 Europe Insurance IT Spending Revenue Market Size by Applications 2022 110
FIG. 46 Asia Pacific Insurance IT Spending Market Share (%) by Country (2022-2028) 112
FIG. 47 Asia Pacific Insurance IT Spending Revenue Market Size by Types 2022 114
FIG. 48 Asia Pacific Insurance IT Spending Revenue Market Size by Applications 2022 115
FIG. 49 Latin America Insurance IT Spending Market Share (%) by Country (2022-2028) 117
FIG. 50 Latin America Insurance IT Spending Revenue Market Size by Types 2022 119
FIG. 51 Latin America Insurance IT Spending Revenue Market Size by Applications 2022 120
FIG. 52 Middle East and Africa Insurance IT Spending Market Share (%) by Country
(2022-2028) 122
FIG. 53 Middle East and Africa Insurance IT Spending Revenue Market Size by Types
2022 124
FIG. 54 Middle East and Africa Insurance IT Spending Revenue Market Size by
Applications 2022 125
FIG. 55 Market Research Process 130
FIG. 56 Market Size Estimation Methodology: Bottom-Up and Top-Down Approach 133
FIG. 1 DATA Triangulation 134
List of Tables
TABLE 1 Market Snapshot 17
TABLE 2 Global Insurance IT Spending Revenue (USD Million) and Growth Rate (%)
Comparison by Types (2016-2022) 20
TABLE 3 Global Insurance IT Spending Revenue (USD Million) and Growth Rate (%)
Comparison by Applications (2016-2022) 24
TABLE 4 Insurance IT Spending Market Revenue (USD Million) Comparison by Regions
(2016-2028) 32
TABLE 5 Global Insurance IT Spending Revenue (USD Million) by Manufacturers (2016-
2020) 39
TABLE 6 Global Insurance IT Spending Revenue Share by Manufacturers (2016-2020) 40
TABLE 7 Drivers For Insurance IT Spending Market: Impact Analysis 50
TABLE 8 Restraints For Insurance IT Spending Market: Impact Analysis 51
TABLE 9 Global Insurance IT Spending Revenue (USD Million) by Regions (2016-2022) 56

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TABLE 10 Global Insurance IT Spending Revenue Market Share (%) by Regions (2016-2022) 56
TABLE 11 North America Insurance IT Spending Market by Country Revenue, 2016-2022 58
TABLE 12 North America Insurance IT Spending Market (USD Million) Size by Types (2016-
2022) 59
TABLE 13 North America Insurance IT Spending Market (USD Million) Size by Applications
(2016-2022) 60
TABLE 14 Europe Insurance IT Spending Market by Country Revenue, 2016-2022 61
TABLE 15 Europe Insurance IT Spending Market (USD Million) Size by Types (2016-2022) 62
TABLE 16 Europe Insurance IT Spending Market (USD Million) Size by Applications (2016-
2022) 63
TABLE 17 Asia Pacific Insurance IT Spending Market by Country Revenue, 2016-2022 64
TABLE 18 Asia Pacific Insurance IT Spending Market (USD Million) Size by Types (2016-
2022) 65
TABLE 19 Asia Pacific Insurance IT Spending Market (USD Million) Size by Applications
(2016-2022) 66
TABLE 20 Latin America Insurance IT Spending Market by Country Revenue, 2016-2022 67
TABLE 21 Latin America Insurance IT Spending Market (USD Million) Size by Types (2016-
2022) 68
TABLE 22 Latin America Insurance IT Spending Market (USD Million) Size by Applications
(2016-2022) 69
TABLE 23 Middle East and Africa Insurance IT Spending Market by Country Revenue, 2016-
2022 70
TABLE 24 Middle East and Africa Insurance IT Spending Market (USD Million) Size by Types
(2016-2022) 71
TABLE 25 Middle East and Africa Insurance IT Spending Market (USD Million) Size by
Applications (2016-2022) 72
TABLE 26 Global Insurance IT Spending Revenue (USD Million) by Types (2016-2022) 73
TABLE 27 Global Insurance IT Spending Revenue Share (%) by Type (2016-2022) 73
TABLE 28 Global Insurance IT Spending Revenue (USD Million) by Applications (2016-2022) 75
TABLE 29 Global Insurance IT Spending Revenue Share (%) by Type (2016-2022) 75
TABLE 30 Oracle Basic Information, Manufacturing Base, Sales Area and Its Competitors 77
TABLE 31 Oracle Revenue (USD Million), Gross Margin (%) and Market Share (%) (2016-
2020) 78
TABLE 32 Global Insurance IT Spending Revenue (USD Million) Forecast by Regions (2022-
2028) 95
TABLE 33 Global Insurance IT Spending Revenue (USD Million) Forecast by Types (2022-
2028) 99
TABLE 34 Global Insurance IT Spending Revenue (USD Million) Forecast by Applications
(2022-2028) 99
TABLE 35 North America Insurance IT Spending Market by Country Revenue, 2022-2028 101
TABLE 36 North America Insurance IT Spending Market (USD Million) Size by Type (2022-
2028) 103
2028) 104

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TABLE 38 Europe Insurance IT Spending Market by Country Revenue, 2022-2028 106
2028) 108
2028) 109
TABLE 41 Asia Pacific Insurance IT Spending Market by Country Revenue, 2022-2028 111
2028) 113
2028) 114
TABLE 44 Latin America Insurance IT Spending Market by Country Revenue, 2022-2028 116
2028) 118
2028) 119
TABLE 47 Middle East and Africa Insurance IT Spending Market by Country Revenue, 2022-
2028 121
2028) 123
2028) 124
TABLE 50 Secondary Research Sources that are typically referred to include, but are not
limited to: 131

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Chapter 1 Executive Summary
1.1 Global Insurance IT Spending Market Report Scope:
FIG. 1 Regional Overview
Source: Secondary Research, Interviews, and Expert Analysis

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1.2 Global Insurance IT Spending Market, 2016 – 2028, (USD Million)
The globalInsurance IT SpendingMarket is valuedat USD xx Millionin2016 andis expectedto reachUSD xx Millionbythe en d
of 2028, growingat a CAGR of xx% between 2022 and 2028.
FIG. 2 Global Insurance IT Spending Market, 2016 – 2028, (USD Million)

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1.3 Global Insurance IT Spending Market: Snapshot
TABLE 1 Market Snapshot
Insurance IT
Spending Market
2016 2020
Global Revenue (USD
Million)
xx xx
CAGR (2022 – 2028) xx%
Key Types Segment
(Revenue Share)
Software Spending:xx%
Hardware Spending:xx%
IT servicesSpending:xx%
Software Spending:xx%
Hardware Spending:xx%
IT servicesSpending:xx%
Key Applications
Segment
(Revenue Share)
CommercialPandCInsurance:xx%
Personal PandCInsurance:xx%
HealthandMedical Insurance:xx%
Life and Accident Insurance:xx%
Insurance AdministrationandRisk
Consulting:xx%
CommercialPandCInsurance:xx%
Personal PandCInsurance:xx%
HealthandMedical Insurance:xx%
Life and Accident Insurance:xx%
Insurance AdministrationandRisk
Consulting:xx%
Key Regional
Segment (Revenue
Share)
North America:xx%
Europe:xx%
Asia Pacific:xx%
Latin America:xx%
Middle East andAfrica:xx%
North America:xx%
Europe:xx%
Asia Pacific:xx%
Latin America:xx%
Middle East and Africa:xx%
Driver xxxxxxxxxxxxxxxx
Restraint xxxxxxxxxxxxxxxx
Opportunity xxxxxxxxxxxxxxxx

18

19
Chapter 2 Insurance IT Spending Market Overview
2.1 Product Overview and Scope of Insurance IT Spending

20
2.2 Insurance IT Spending Segment by Types
2.2.1 Gl obal Insurance I T S p endi n g Rev enu e ( US D Mi l l i on) and Gr o wth Ra te ( %)
Compari son by Types (2016-2022)
TABLE 2 Global Insurance IT Spending Revenue (USD Million) and Growth Rate (%) Comparison by
Types (2016-2022)
Market Segment Type 2016 2017 2018 2019 2020 2022
Software Spending xx xx xx xx xx xx
-YOY (%) Xx Xx xx xx xx xx
Hardware Spending xx xx xx xx xx xx
IT services Spending xx xx xx xx xx xx
Total xx xx xx xx xx xx
-YOY (%) xx xx xx xx xx xx
2.2.2 Gl obal Insurance IT Spendi ng Revenue Market Share (%) by Types i n 2020
FIG. 3 Global Insurance IT Spending Revenue Market Share (%) by Types in 2020
Source: Secondary Research, Interviews, and Expert Analysis Secondary Research, Interviews, and Expert Analysis

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2.2.3 Software Spendi ng
In 2016, the Software Spending Revenue (USDMillion)was USDxx Million andit expectedto reachat USDxx Millionin 2028
FIG. 4 Global Software Spending Market Revenue (USD Million) and Growth Rate (%), (2016 – 2028)

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2.2.4 Hardware Spendi ng
In 2016, the Hardware SpendingRevenue (USDMillion) wasUSD xx Millionand it expected to reach at USDxx Million in2028
FIG. 5 Global Hardware Spending Market Revenue (USD Million) and Growth Rate (%), (2016 – 2028)

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2.2.5 IT servi ces Spendi ng
In 2016, the IT servicesSpendingRevenue (USDMillion) wasUSD xx Million and it expected to reach at USD xx Million in2028
FIG. 6 Global IT services Spending Market Revenue (USD Million) and Growth Rate (%), (2016 – 2028)

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2.3 Insurance IT Spending Segment by Applications
Compari son by Appl i cati ons (2016-2022)
TABLE 3 Global Insurance IT Spending Revenue (USD Million) and Growth Rate (%) Comparison by
Applications (2016-2022)
Market Segment Type 2016 2017 2018 2019 2020 2022
Commercial PandC Insurance xx xx xx xx xx xx
Personal PandC Insurance xx xx xx xx xx xx
Health and Medical Insurance xx xx xx xx xx xx
Life and Accident Insurance xx xx xx xx xx xx
Insurance Administration and Risk Consulting xx xx xx xx xx xx
-YOY (%) xx xx xx xx xx xx
2.3.2 Gl obal Insurance IT Spendi ng Revenue Market Share (%) by Appl i cati ons i n 2020
FIG. 7 Global Insurance IT Spending Revenue Market Share (%) by Applications in 2020

25

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2.3.3 Commerci al PandC Insurance
In 2016, the Commercial PandC Insurance Revenue (USD Million) was USD xx Million and it expected to reach at USD xx Million
in 2028
FIG. 8 Global Commercial PandC Insurance Market Revenue (USD Million) and Growth Rate (%), (2016 – 2028)

27
2.3.4 Personal PandC Insurance
In 2016, the Personal PandC Insurance Revenue (USD Million) was USD xx Million and it expected to reach at USD xx Million in
2028
FIG. 9 Global Personal PandC Insurance Market Revenue (USD Million) and Growth Rate (%), (2016 – 2028)

28
2.3.5 Heal th and Medi cal Insurance
In 2016, the Health and Medical Insurance Revenue (USD Million) was USD xx Million and it expected to reach at USD xx Million
in 2028
FIG. 10 Global Health and Medical Insurance Market Revenue (USD Million) and Growth Rate (%), (2016 – 2028)

29
2.3.6 Li fe and Acci dent Insurance
In 2016, the Life and AccidentInsurance Revenue (USD Million) was USD xx Million andit expected to reach at USD xx Million in
2028
FIG. 11 Global Life and Accident Insurance Market Revenue (USD Million) and Growth Rate (%), (2016 – 2028)

30
2.3.7 Insurance Admi ni strati on and Ri sk Consul ti ng
In 2016, the Insurance Administrationand Risk Consulting Revenue (USD Million) was USD xx Million and it expected to reach at
USD xx Millionin2028
FIG. 12 Global Insurance Administration and Risk Consulting Market Revenue (USD Million) and Growth Rate
(%), (2016 – 2028)

31
2.4 Global Insurance IT Spending Market by Regions (2016-2022)
2.4.1 Gl obal Insuranc e I T Sp endi ng Mark et Si ze and Gr o wth Ra te ( %) C o mpari son b y
Regi ons (2016-2022)
FIG. 13 Global Insurance IT Spending Market Size Comparison and Growth Rate (%) by Regions (2016-2022)

32
TABLE 4 Insurance IT Spending Market Revenue (USD Million) Comparison by Regions (2016-2028)
Region 2016 2019 2028 Market
Share
(%) 2028
CAGR (%)
(2022-2028)
North America xx xx xx xx Xx
Europe xx xx xx xx Xx
Asia Pacific xx xx xx xx Xx
Latin America xx xx xx xx Xx
Middle East and Africa xx xx xx xx Xx
Total xx xx xx xx xx

33
2.4.2 North Ameri ca Insurance IT Spendi ng Status and Prospect (2016 -2028)
The North America Insurance ITSpendingmarket size was USD xx Million in 2016 and it will be USD xx Million in 2028.
FIG. 14 North America Insurance IT Spending Revenue (USD Million) and Growth Rate (2016-2028)

34
2.4.3 Europe Insurance IT Spendi ng Status and Prospect (2016 -2028)
FIG. 15 Europe Insurance IT Spending Revenue (USD Million) and Growth Rate (2016-2028)

35
2.4.4 Asi a Paci fi c Insurance IT Spendi ng Status and Prospect (2016 -2028)
FIG. 16 Asia Pacific Insurance IT Spending Revenue (USD Million) and Growth Rate (2016-2028)

36
2.4.5 Lati n Ameri ca Insurance IT Spendi ng Status and Prospect (2016 -2028)
FIG. 17 Latin America Insurance IT Spending Revenue (USD Million) and Growth Rate (2016-2028)

37
2.4.6 Mi ddl e East and Afri ca Insurance IT Spendi ng Status and Prospect (2016 -2028)
FIG. 18 Middle East and Africa Insurance IT Spending Revenue (USD Million) and Growth Rate (2016-2028)

38
2.5 Global Insurance IT Spending Market Size (2016-2028)
2.5.1 Gl obal Insurance IT Spendi ng Revenue Status and Outl ook (2016 -2028)
The global Insurance IT Spending Market is valued at USD xx Million in 2016 and is expected to reach USD xx Million by the end
of 2028.
FIG. 19 Global Insurance IT Spending Revenue (USD Million) Status and Outlook (2016-2028)

39
Chapter 3 Global Insurance IT Spending Market Competition by Manufacturers (Subject To
Data Availability)
3.1 Global Insurance IT Spending Revenue and Share by Manufacturers (2016-2020)
TABLE 5 Global Insurance IT Spending Revenue (USD Million) by Manufacturers (2016-2020)
Manufacturers 2016 2017 2018 2019 2020
Oracle xx xx xx xx xx
Guidewire Software xx xx xx xx xx
SAP xx xx xx xx xx
EXL Service xx xx xx xx xx
Microsoft xx xx xx xx xx
Genpact xx xx xx xx xx
CSC xx xx xx xx xx
Majesco xx xx xx xx xx
Accenture xx xx xx xx xx
Andesa xx xx xx xx xx
Fiserv xx xx xx xx xx
Cognizant xx xx xx xx xx
Pegasystems xx xx xx xx xx
FIS xx xx xx xx xx

40
TABLE 6 Global Insurance IT Spending Revenue Share by Manufacturers (2016-2020)
Manufacturers 2016 2017 2018 2019 2020
Oracle xx xx xx xx xx
Guidewire Software xx xx xx xx xx
SAP xx xx xx xx xx
EXL Service xx xx xx xx xx
Microsoft xx xx xx xx xx
Genpact xx xx xx xx xx
CSC xx xx xx xx xx
Majesco xx xx xx xx xx
Accenture xx xx xx xx xx
Andesa xx xx xx xx xx
Fiserv xx xx xx xx xx
Cognizant xx xx xx xx xx
Pegasystems xx xx xx xx xx
FIS xx xx xx xx xx

41
FIG. 20 2018 Global Insurance IT Spending Revenue Share by Manufacturers

42
Chapter 4 COVID – 19 Impact Analysis on Insurance IT Spending Market
4.1 Global Market – COVID – 19 Impact Analysis
An analysis of the market developments between December 2019 to till date revealed that product commercialization,
developmental collaborations,and product distribution partnerships were adopted by market players to maintain a competitive
position in the Insurance IT Spending market to mitigate the COVID-19 impact. Product commercialization was the most widely
adoptedgrowth strategy.

43
4.1.1 Infl uenci ng Factors
There are three major influencing factors:
• COVID-19 infectionrates
• Governments’ actions to control the pandemic
• The annualized monthlyGDPrates
4.1.2 Forecast Assumpti ons
AnnualizedmonthlyGDPgrowthrates will varybyregionandcountry.

44
4.1.3 Impact of COVID-19 on Gl obal Insurance IT Spendi ng Market
There is hardly any place in the world that has remained unaffected by the brutality of the Covid-19 pandemic, almost every
company is suffering from ruthless Novel Coronavirus Disease. To encompass the pandemic, many nations and Governments
around the world has imposed a lockdown, whichis restricting the gatherings and the movement of people. Along with this, the
transportation hasn’t been opened completely which also impacted import and export of chemical industry and there is also
shortage of raw-materials. In addition to this, the Covid-19 cases are increasing and government is re-imposing the lockdown
situation, hence there will be again shortage of workforce in the factories that may impact the business functioning. This re-
imposingof lockdownwill also impact the logistic & supplychain, which willshow the huge lossinthe industry.

45
4.2 Consumer Buying Behavior on Global Insurance IT Spending Market
The COVID-19 (Coronavirus Disease)pandemic have forced many companies to halt theirbusiness operation in order to comply
with the new government regulations. Therefore, consumer’s priorities are more inclined towards basic needs, which increases
demand for hygiene, cleaning and staples products, while there is decrease in demand for non-essential categories products.
Moreover, consumers are also feeling anxious and worried, which lead them towards panic-buying of staples and hygiene
products. Along with this, in this pandemic crisis, consumers are also changing their buying preferences because there is ris e in
buy local trend, therefore consumers are migrating towards digital commerce for their grocery and other shopping instead of
buying it from physical stores.

46
4.3 Global Insurance IT Spending Market – PESTEL Analysis
FIG. 21 Global Insurance IT Spending Market – PESTEL Analysis

47
4.3.1 Ameri ca
4.3.2 Europe
4.3.3 Asi a Paci fi c

48
4.3.4 Lati n Ameri ca
4.3.5 Mi ddl e East & Afri ca

49
4.4 Global Insurance IT Spending Market – PortersFive Forces Analysis
FIG. 22 Porter’s five forces analysis

50
Chapter 5 Insurance IT Spending Market – Industry Analysis
5.1 Market Drivers
5.1.1 Dri vers for Insurance IT Spendi ng Market: Impact Anal ysi s
TABLE 7 Drivers For Insurance IT Spending Market: Impact Analysis
Market drivers
2016 – 18 2019 – 21 2022 – 28
Impact
xxx xx x xx
xxx xx x xx
QualitativeAnalysis

51
5.2 Market Restraints
5.2.1 Restrai nts for Insurance IT Spendi ng Market: Impact Anal ysi s
TABLE 8 Restraints For Insurance IT Spending Market: Impact Analysis
Market Restraints 2014–18 2018–22 2022–2028
Impact
xxx xx x xx
QualitativeAnalysis

52
5.3 Opportunity
QualitativeAnalysis

53
5.4 Market Attractiveness Analysis
5.4.1 Market Attracti veness Anal ysi s by Product Segment
FIG. 1 Market Attractiveness Analysis by Product Segment
Source: Cognitive Market Research
Qualitative Analysis
Market
Size
Market Attractiveness
High
High
Low

54
5.4.2 Market Attracti veness Anal ysi s by Appl i cati on
FIG. 2 Market Attractiveness Analysis by Application
QualitativeAnalysis
Market
Size
High
High
Low

55
5.4.3 Market Attracti veness Anal ysi s by Regi onal Segment
FIG. 3 Market Attractiveness Analysis by Regional Segment
QualitativeAnalysis
Market
Size
North America Europe Asia Pacific South America Middle East & Africa
High
High
Low

56
Chapter 6 Global Insurance IT Spending Sales by Regions (2016-2022)
6.1 Global Insurance IT Spending Revenue and Market Share (%) by Regions (2016-2022)
TABLE 9 Global Insurance IT Spending Revenue (USD Million) by Regions (2016-2022)
Regions 2016 2017 2018 2019 2020 2022
North America xx xx xx xx xx xx
Europe xx xx xx xx xx xx
Asia Pacific xx xx xx xx xx xx
Latin America xx xx xx xx xx xx
Middle East and Africa xx xx xx xx xx xx
TABLE 10 Global Insurance IT Spending Revenue Market Share (%) by Regions (2016-2022)
Regions 2016 2017 2018 2019 2020 2022
North America xx xx xx xx xx xx
Europe xx xx xx xx xx xx
Asia Pacific xx xx xx xx xx xx
Latin America xx xx xx xx xx xx
Middle East and Africa xx xx xx xx xx xx

57
FIG. 4 Global Insurance IT Spending Revenue Market Share (%) by Regions (2016-2022)
FIG. 5 Global Insurance IT Spending Revenue Market Share (%) by Regions, 2020

58
Chapter 7 North America InsuranceIT Spending Market Development Status and Outlook
7.1 North America Insurance IT Spending Market by Country, 2016-2022
TABLE 11 North America Insurance IT Spending Market by Country Revenue, 2016-2022
2016 2017 2018 2019 2020 2022
U.S.
xx xx xx xx xx xx
Canada xx xx xx xx xx xx
Mexico xx xx xx xx xx xx
Total
xx xx xx xx xx xx
7.2 North America Insurance IT Spending Market Size (2016-2022)
FIG. 6 North America Insurance IT Spending Market Share (%) by Country (2016-2022)

59
7.2.1 Nor th Ameri ca Insuranc e I T Sp endi ng Mark et ( US D Mi l l i on) Si ze by Typ es (2016 -
2022)
TABLE 12 North America Insurance IT Spending Market (USD Million) Size by Types (2016-2022)
2016 2017 2018 2019 2020 2022
FIG. 7 North America Insurance IT Spending Market Size by Types 2020

60
7.2.2 Nor th Ameri ca Insurance IT Sp en di ng Mark et ( USD Mi l l i on) Si ze by Ap pl i cati ons
(2016-2022)
TABLE 13 North America Insurance IT Spending Market (USD Million) Size by Applications (2016-2022)
2016 2017 2018 2019 2020 2022
FIG. 8 North America Insurance IT Spending Market Size by Applications 2020

61
Chapter 8 Europe Insurance IT Spending Market Development Status and Outlook
8.1 Europe Insurance IT Spending Market by Country, 2016-2022
TABLE 14 Europe Insurance IT Spending Market by Country Revenue, 2016-2022
2016 2017 2018 2019 2020 2022
UK
xx xx xx xx xx xx
France xx xx xx xx xx xx
Germany xx xx xx xx xx xx
Italy
xx xx xx xx xx xx
Russia xx xx xx xx xx xx
Spain xx xx xx xx xx xx
Rest of Europe
xx xx xx xx xx xx
8.2 Europe Insurance IT Spending Market Size (2016-2022)
FIG. 9 Europe Insurance IT Spending Market Share (%) by Country (2016-2022)

62
8.2.1 Europe Insurance IT Spendi ng Market (USD Mi l l i on) Si ze by Types (2016-2022)
TABLE 15 Europe Insurance IT Spending Market (USD Million) Size by Types (2016-2022)
2016 2017 2018 2019 2020 2022
FIG. 10 Europe Insurance IT Spending Market Size by Types 2020

63
8.2.2 Eur op e Insuranc e I T Sp en di ng Mark et ( US D Mi l li on) Si ze by Appl i cati ons (2016 -
2022)
TABLE 16 Europe Insurance IT Spending Market (USD Million) Size by Applications (2016-2022)
2016 2017 2018 2019 2020 2022
FIG. 11 Europe Insurance IT Spending Market Size by Applications 2020

64
Chapter 9 Asia Pacific Insurance IT Spending Market Development Status and Outlook
9.1 Asia Pacific Insurance IT Spending Market by Country, 2016-2022
TABLE 17 Asia Pacific Insurance IT Spending Market by Country Revenue, 2016-2022
2016 2017 2018 2019 2020 2022
China
xx xx xx xx xx xx
Japan xx xx xx xx xx xx
India xx xx xx xx xx xx
Korea
xx xx xx xx xx xx
South East Asia xx xx xx xx xx xx
Rest of APAC xx xx xx xx xx xx
Total
xx xx xx xx xx xx
9.2 Asia Pacific Insurance IT Spending Market Size (2016-2022)
FIG. 12 Asia Pacific Insurance IT Spending Market Share (%) by Country (2016-2022)

65
9.2.1 Asi a Paci fi c Insurance I T Sp endi ng Mar k et ( USD Mi l l i on) Si ze by Typ es (2016 -
2022)
TABLE 18 Asia Pacific Insurance IT Spending Market (USD Million) Size by Types (2016-2022)
2016 2017 2018 2019 2020 2022
FIG. 13 Asia Pacific Insurance IT Spending Market Size by Types 2020

66
9.2.2 Asi a Paci fi c Insurance IT S p endi n g Mark et ( US D Mi l li on) Si ze b y Ap pl i cati ons
(2016-2022)
TABLE 19 Asia Pacific Insurance IT Spending Market (USD Million) Size by Applications (2016-2022)
2016 2017 2018 2019 2020 2022
FIG. 14 Asia Pacific Insurance IT Spending Market Size by Applications 2020

67
Chapter 10 Latin America Insurance IT Spending Market Development Status and Outlook
10.1 Latin America Insurance IT Spending Market by Country, 2016-2022
TABLE 20 Latin America Insurance IT Spending Market by Country Revenue, 2016-2022
2016 2017 2018 2019 2020 2022
Brazil
xx xx xx xx xx xx
Argentina xx xx xx xx xx xx
Columbia xx xx xx xx xx xx
Rest of Latin America
xx xx xx xx xx xx
10.2 Latin America Insurance IT Spending Market Size (2016-2022)
FIG. 15 Latin America Insurance IT Spending Market Share (%) by Country (2016-2022)

68
10.2.1 Lati n Ameri ca Insurance IT Sp en di ng Mark et ( USD Mi l l i on) Si ze by Ty p es (2016 -
2022)
TABLE 21 Latin America Insurance IT Spending Market (USD Million) Size by Types (2016-2022)
2016 2017 2018 2019 2020 2022
FIG. 16 Latin America Insurance IT Spending Market Size by Types 2020

69
10.2.2 Lati n Ameri ca Insurance I T Sp en di ng Mark et ( US D Mi l l i on) Si ze by Ap pl i cati ons
(2016-2022)
TABLE 22 Latin America Insurance IT Spending Market (USD Million) Size by Applications (2016-2022)
2016 2017 2018 2019 2020 2022
FIG. 17 Latin America Insurance IT Spending Market Size by Applications 2020

70
Chapter 11 Middle East and Africa Insurance IT Spending Market Development Status and
Outlook
11.1 Middle East and Africa Insurance IT Spending Market by Country, 2016-2022
TABLE 23 Middle East and Africa Insurance IT Spending Market by Country Revenue, 2016-2022
2016 2017 2018 2019 2020 2022
GCC Countries xx xx xx xx xx xx
Egypt
xx xx xx xx xx xx
South Africa xx xx xx xx xx xx
Nigeria xx xx xx xx xx xx
Turkey
xx xx xx xx xx xx
Rest of MEA xx xx xx xx xx xx
11.2 Middle East and Africa Insurance IT Spending Market Size (2016-2022)
FIG. 18 Middle East and Africa Insurance IT Spending Market Share (%) by Country (2016-2022)

71
11.2.1 Mi ddl e East and Afri ca Insurance IT Sp endi ng Mark et ( USD Mi l li on) Si ze b y Typ es
(2016-2022)
TABLE 24 Middle East and Africa Insurance IT Spending Market (USD Million) Size by Types (2016-
2022)
2016 2017 2018 2019 2020 2022
FIG. 19 Middle East and Africa Insurance IT Spending Market Size by Types 2020

72
11.2.2 Mi ddl e East and Afri ca Insurance IT S p endi n g Mark et (USD Mi l l i on) Si ze b y
Appl i cati ons (2016-2022)
TABLE 25 Middle East and Africa Insurance IT Spending Market (USD Million) Size by Applications
(2016-2022)
2016 2017 2018 2019 2020 2022
FIG. 20 Middle East and Africa Insurance IT Spending Market Size by Applications 2020

73
Chapter 12 Global Insurance IT Spending Market Revenue (Value) by Types
12.1 Global Insurance IT Spending Revenue and Market Share (%) by Types (2016-2022)
TABLE 26 Global Insurance IT Spending Revenue (USD Million) by Types (2016-2022)
2016 2017 2018 2019 2020 2022
TABLE 27 Global Insurance IT Spending Revenue Share (%) by Type (2016-2022)
2016 2017 2018 2019 2020 2022
Software Spending xx xx xx xx Xx xx
Hardware Spending xx xx xx xx Xx xx
IT services Spending xx xx xx xx Xx xx
Total
xx xx xx xx xx xx

74
FIG. 21 Global Insurance IT Spending Market Revenue Share (%) by Types (2016-2022)
FIG. 22 2020 Revenue Market Share (%) of Insurance IT Spending by Types

75
Chapter 13 Global Insurance IT Spending Market Revenue (Value) by Applications
13.1 Global Insurance IT Spending Revenue and Market Share (%) by Applications (2016-2022)
TABLE 28 Global Insurance IT Spending Revenue (USD Million) by Applications (2016-2022)
2016 2017 2018 2019 2020 2022
TABLE 29 Global Insurance IT Spending Revenue Share (%) by Type (2016-2022)
2016 2017 2018 2019 2020 2022
Commercial PandC Insurance xx xx xx xx Xx xx
Personal PandC Insurance xx xx xx xx Xx xx
Health and Medical Insurance xx xx xx xx Xx xx
Life and Accident Insurance xx xx xx xx Xx xx
Insurance Administration and Risk Consulting xx xx xx xx Xx xx
Total
xx xx xx xx xx xx

76
FIG. 23 Global Insurance IT Spending Market Revenue Share (%) by Applications (2016-2022)
FIG. 24 2020 Revenue Market Share (%) of Insurance IT Spending by Applications

77
Chapter 14 Global Insurance IT Spending Manufacturers Profiles/Analysis
14.1 Oracle
14.1.1 Oracl e Basi c Informati on, Manufacturi ng Base, Sal es Area and i ts Competi tors
TABLE 30 Oracle Basic Information, Manufacturing Base, Sales Area and Its Competitors
# Item Description
1 CompanyName Oracle
2 Website xx
EstablishedDate xx
4 Headquartered xx
6 Market Position or History xx
8 Contact Information xx
14.1.2 Insurance IT Spendi ng Types Speci fi cati on
Type Type Picture
xx xx
xx xx
xx xx
xx xx
xx xx

78
14.1.3 Fi nanci al s
TABLE 31 Oracle Revenue (USD Million), Gross Margin (%) and Market Share (%) (2016-2020)
Value 2016 2017 2018 2019 2020
Revenue xx xx xx xx xx
Gross Margin xx xx xx xx xx
FIG. 25 Oracle Revenue Market Share (%) (2016-2020)
14.1.4 Mai n Busi ness/Busi ness Overvi ew

79
Note: Followingcompany’s data will be provided in the same format, for example 1st
company profile
shown above. In case you need any data Customization please feel free to contact us!
14.2 Guidewire Software
14.3 SAP
14.4 EXL Service
14.5 Microsoft
14.6 Genpact
14.7 CSC
14.8 Majesco
14.9 Accenture
14.10 Andesa
14.11 Fiserv
14.12 Cognizant
14.13 Pegasystems
14.14 FIS
Note: Company Revenue Information Will Be Provided Subject to Data Availability!

80
Chapter 15 Insurance IT Spending Manufacturing Cost Analysis
15.1 Key Raw Material Analysis
Raw Materials Production Base
Raw Material 1 China, Russia, Canada, United Arab South Africa, Indiaand
United States
Raw Material 2 China, India, UK, France, Italy, Germany, U.S., Brazil
FIG. 26 Price Trend of Key Raw Materials

81
15.2 Key Distributors of Raw Materials
Raw Material Company Name Website Contact Details
Raw Material 1 Company1 www.companyname.com Russia
Company2 www.companyname.com US
Company3 www.companyname.com China
Company4 www.companyname.com Russia
Raw Material 2 Company1 www.companyname.com US
Company2 www.companyname.com China
Company3 www.companyname.com Russia
Company4 www.companyname.com US

82
15.3 Proportion of Manufacturing Cost Structure
FIG. 27 Manufacturing Cost Structure of Insurance IT Spending

83
15.3.1 Labor Cost
15.3.2 USA Labor Cost Anal ysi s
15.3.3 EU Labor Costs Anal ysi s

84
15.3.4 Chi na Labor Costs Anal ysi s
15.3.5 Manufacturi ng Expenses

85
Chapter 16 Market Effect Factors Analysis
16.1 Consumer Needs/Customer Preference Change
16.2 Economic/Political Environmental Change
FIG. 28 Economic/Political Environmental Change
U.S.
Shifting direction of policy
Europe
Economic activity in Western Europe will remain subdued
Africa
Growth to recover
moderately amid
challenges
East Asia
Domestic demand
continues to drive positive
near-term outlook amid
weak export performance
Japan
Policy easing supports
short-term prospects
Latin America and the
Caribbean
xxxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxx

86
U.S.
Europe
Japan

87
Africa
East Asia
Latin America and the Caribbean

88
Chapter 17 IndustrialChain, Sourcing Strategy, and Downstream Buyers
17.1 Insurance IT Spending Chain Analysis
FIG. 29 Insurance IT Spending Chain Analysis
Upstream
• Content has been removed for sample
Product
• Content has been removed for sample
Downstream
•Contenthasbeenremovedforsample

89
17.2 List of Downstream Buyers
Company Name Website Contact Details
Company 1 www.companyname.com Russia
Company 2 www.companyname.com US
Company 3 www.companyname.com China

90
17.3 List of Distributors
Company Name Website Contact Details

91
Chapter 18 Marketing Strategy Analysis
18.1 Marketing Channel
FIG. 30 Marketing Channel Framework

92
18.1.1 Di rect Marketi ng
18.1.2 Indi rect Marketi ng
18.1.3 Indi rect Marketi ng

93
18.2 Market Positioning
18.2.1 Pri ci ng Strategy

94
Chapter 19 Global Insurance IT Spending Market Forecast (2022-2028)
19.1 Global Insurance IT Spending Revenue Forecast (2022-2028)
Forecast (2022-2028)
FIG. 31 Global Insurance IT Spending Revenue (USD Million) and Growth Rate (%) Forecast (2022-2028)

95
19.2 Global Insurance IT Spending Revenue (USD Million) Forecast by Regions (2022-2028)
TABLE 32 Global Insurance IT Spending Revenue (USD Million) Forecast by Regions (2022-2028)
2022 2022 2023 2024 2025 2026 2027 2028
North America xx xx xx xx xx xx xx xx
Europe xx xx xx xx xx xx xx xx
Asia Pacific xx xx xx xx xx xx xx xx
Latin America xx xx xx xx xx xx xx xx
Middle East and Africa xx xx xx xx xx xx xx xx
Total xx xx xx xx xx xx xx xx
FIG. 32 Global Insurance IT Spending Revenue (USD Million) Market Share (%) Forecast by Regions (2022-2028)

96
19.2.1 Nor th Ameri ca Insurance I T Sp en di ng Rev enu e ( US D Mi l l i on) For ecast (2022 -
2028)
FIG. 33 North America Insurance IT Spending Revenue (USD Million) and Growth Rate (%) Forecast (2022-2028)
19.2.2 Europe Insurance IT Spendi ng Revenue (USD Mi l l i on) Forecast (2022-2028)
FIG. 34 Europe Insurance IT Spending Revenue (USD Million) and Growth Rate (%) Forecast (2022-2028)
19.2.3 Asi a Paci fi c Insurance IT Spendi ng Revenue (USD Mi l l i on) Forecast (2022-2028)
FIG. 35 Asia Pacific Insurance IT Spending Revenue (USD Million) and Growth Rate (%) Forecast (2022-2028)

97
19.2.4 Lati n Ameri ca Insurance IT Spendi ng Revenue (USD Mi l l i on) Forecast (2022-2028)
FIG. 36 Latin America Insurance IT Spending Revenue (USD Million) and Growth Rate (%) Forecast (2022-2028)
19.2.5 Mi ddl e Eas t and Afri ca Insuranc e I T Sp en di ng Rev enu e ( US D Mi l li on) F or ecast
(2022-2028)
FIG. 37 Middle East and Africa Insurance IT Spending Revenue (USD Million) and Growth Rate (%) Forecast (2022-
2028)

98

99
19.3 Global Insurance IT Spending Revenue and Forecast by Types (2022-2028)
TABLE 33 Global Insurance IT Spending Revenue (USD Million) Forecast by Types (2022-2028)
2022 2022 2023 2024 2025 2026 2027 2028
Software Spending xx xx xx xx xx xx xx xx
Hardware Spending xx xx xx xx xx xx xx xx
IT services Spending xx xx xx xx xx xx xx xx
FIG. 38 Global Insurance IT Spending Revenue Market Share (%) Forecast by Types (2022-2028)
19.4 Global Insurance IT Spending Revenue and Forecast by Applications (2022-2028)
TABLE 34 Global Insurance IT Spending Revenue (USD Million) Forecast by Applications (2022-2028)
2022 2022 2023 2024 2025 2026 2027 2028
Commercial PandC Insurance xx xx xx xx xx xx xx xx
Personal PandC Insurance xx xx xx xx xx xx xx xx
Health and Medical Insurance xx xx xx xx xx xx xx xx
Life and Accident Insurance xx xx xx xx xx xx xx xx
Insurance Administration and Risk Consulting xx xx xx xx xx xx xx xx

10
0
FIG. 39 Global Insurance IT Spending Revenue Market Share (%) Forecast by Applications (2022-2028)

10
1
Chapter 20 North AmericaInsurance IT Spending Market Forecast 2022-2028
20.1 North America
20.1.1 North Ameri ca Insurance IT Spendi ng Market by Country, 2022-2028
TABLE 35 North America Insurance IT Spending Market by Country Revenue, 2022-2028
2022 2022 2023 2024 2025 2026 2027 2028
U.S. xx xx xx xx xx xx xx xx
Canada
xx xx xx xx xx xx xx xx
Mexico xx xx xx xx xx xx xx xx

10
2
20.1.2 North Ameri ca Insurance IT Spendi ng Market Si ze (2022-2028)
FIG. 40 North America Insurance IT Spending Market Share (%) by Country (2022-2028)

10
3
20.1.3 Nor th Ameri ca Insuranc e I T Sp endi ng Mark et ( US D Mi l l i on) Si ze by Typ es (2022 -
2028)
TABLE 36 North America Insurance IT Spending Market (USD Million) Size by Type (2022-2028)
2022 2022 2023 2024 2025 2026 2027 2028

10
4
20.1.4 North Ameri ca Insurance IT Spendi ng Revenue Market Si ze by Types 2024
FIG. 41 North America Insurance IT Spending Revenue Market Size by Types 2022
20.1.5 Nor th Ameri ca Insurance IT Sp en di ng Mark et ( USD Mi l l i on) Si ze by Ap pl i cati ons
(2022-2028)
2022 2022 2023 2024 2025 2026 2027 2028

10
5
20.1.6 North Ameri ca Insurance IT Spendi ng Revenue Market Si ze by Appl i cati ons 2024
FIG. 42 North America Insurance IT Spending Revenue Market Size by Applications 2022

10
6
Chapter 21 Europe Insurance IT Spending Market Forecast 2022-2028
21.1 Europe
21.1.1 Europe Insurance IT Spendi ng Market by Country, 2022-2028
TABLE 38 Europe Insurance IT Spending Market by Country Revenue, 2022-2028
2022 2022 2023 2024 2025 2026 2027 2028
UK xx xx xx xx xx xx xx xx
France
Germany xx xx xx xx xx xx xx xx
Italy xx xx xx xx xx xx xx xx
Russia
Spain xx xx xx xx xx xx xx xx
Rest of Europe xx xx xx xx xx xx xx xx
Total

10
7
21.1.2 Europe Insurance IT Spendi ng Market Si ze (2022-2028)
FIG. 43 Europe Insurance IT Spending Market Share (%) by Country (2022-2028)

10
8
21.1.3 Europe Insurance IT Spendi ng Market (USD Mi l l i on) Si ze by Types (2022-2028)
2022 2022 2023 2024 2025 2026 2027 2028

10
9
21.1.4 Europe Insurance IT Spendi ng Revenue Market Si ze by Types 2024
FIG. 44 Europe Insurance IT Spending Revenue Market Size by Types 2022
21.1.5 Eur op e Insuranc e I T Sp en di ng Mark et ( US D Mi l li on) Si ze by Appl i cati ons (2022 -
2028)
2022 2022 2023 2024 2025 2026 2027 2028

11
0
21.1.6 Europe Insurance IT Spendi ng Revenue Market Si ze by Appl i cati ons 2024
FIG. 45 Europe Insurance IT Spending Revenue Market Size by Applications 2022

11
1
Chapter 22 Asia Pacific Insurance IT Spending Market Forecast 2022- 2028
22.1 Asia Pacific
22.1.1 Asi a Paci fi c Insurance IT Spendi ng Market by Country, 2022-2028
TABLE 41 Asia Pacific Insurance IT Spending Market by Country Revenue, 2022-2028
2022 2022 2023 2024 2025 2026 2027 2028
China xx xx xx xx xx xx xx xx
Japan
India xx xx xx xx xx xx xx xx
Korea xx xx xx xx xx xx xx xx
South East Asia
Rest of APAC xx xx xx xx xx xx xx xx

11
2
22.1.2 Asi a Paci fi c Insurance IT Spendi ng Market Si ze (2022-2028)
FIG. 46 Asia Pacific Insurance IT Spending Market Share (%) by Country (2022-2028)

11
3
22.1.3 Asi a Paci fi c Insurance I T Sp endi ng Mar k et ( USD Mi l l i on) Si ze by Typ es (2022 -
2028)
2022 2022 2023 2024 2025 2026 2027 2028

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22.1.4 Asi a Paci fi c Insurance IT Spendi ng Revenue Market Si ze by Types 2024
FIG. 47 Asia Pacific Insurance IT Spending Revenue Market Size by Types 2022
22.1.5 Asi a Paci fi c Insurance IT S p endi n g Mark et ( US D Mi l li on) Si ze b y Ap pl i cati ons
(2022-2028)
2022 2022 2023 2024 2025 2026 2027 2028

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22.1.6 Asi a Paci fi c Insurance IT Spendi ng Revenue Market Si ze by Appl i cati ons 2024
FIG. 48 Asia Pacific Insurance IT Spending Revenue Market Size by Applications 2022

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Chapter 23 Latin America Insurance IT Spending Market Forecast 2022- 2028
23.1 Latin America
23.1.1 Lati n Ameri ca Insurance IT Spendi ng Market by Country, 2022-2028
TABLE 44 Latin America Insurance IT Spending Market by Country Revenue, 2022-2028
2022 2022 2023 2024 2025 2026 2027 2028
Brazil xx xx xx xx xx xx xx xx
Argentina
Columbia xx xx xx xx xx xx xx xx
Rest of Latin America xx xx xx xx xx xx xx xx
Total

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23.1.2 Lati n Ameri ca Insurance IT Spendi ng Market Si ze (2022-2028)
FIG. 49 Latin America Insurance IT Spending Market Share (%) by Country (2022-2028)

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23.1.3 Lati n Ameri ca Insurance IT Sp en di ng Mark et ( USD Mi l l i on) Si ze by Ty p es (2022 -
2028)
2022 2022 2023 2024 2025 2026 2027 2028

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23.1.4 Lati n Ameri ca Insurance IT Spendi ng Revenue Market Si ze by Types 2024
FIG. 50 Latin America Insurance IT Spending Revenue Market Size by Types 2022
23.1.5 Lati n Ameri ca Insurance I T Sp en di ng Mark et ( US D Mi l l i on) Si ze by Ap pl i cati ons
(2022-2028)
2022 2022 2023 2024 2025 2026 2027 2028

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23.1.6 Lati n Ameri ca Insurance IT Spendi ng Revenue Market Si ze by Appl i cati ons 2024
FIG. 51 Latin America Insurance IT Spending Revenue Market Size by Applications 2022

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Chapter 24 Middle East and Africa Insurance IT Spending Market Forecast 2022- 2028
24.1 Middle East and Africa
24.1.1 Mi ddl e East and Afri ca Insurance IT Spendi ng Market by Country, 2022-2028
TABLE 47 Middle East and Africa Insurance IT Spending Market by Country Revenue, 2022-2028
2022 2022 2023 2024 2025 2026 2027 2028
GCC Countries xx xx xx xx xx xx xx xx
Egypt
South Africa xx xx xx xx xx xx xx xx
Nigeria xx xx xx xx xx xx xx xx
Turkey
Rest of MEA xx xx xx xx xx xx xx xx

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24.1.2 Mi ddl e East and Afri ca Insurance IT Spendi ng Market Si ze (2022-2028)
FIG. 52 Middle East and Africa Insurance IT Spending Market Share (%) by Country (2022-2028)

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24.1.3 Mi ddl e East and Afri ca Insurance IT Sp endi ng Mark et ( USD Mi l li on) Si ze b y Typ es
(2022-2028)
2022 2022 2023 2024 2025 2026 2027 2028

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24.1.4 Mi ddl e East and Afri ca Insurance IT Spendi ng Revenue Market Si ze by Types 2024
FIG. 53 Middle East and Africa Insurance IT Spending Revenue Market Size by Types 2022
24.1.5 Mi ddl e East and Afri ca Insurance IT S p endi n g Mark et (USD Mi l l i on) Si ze b y
Appl i cati ons (2022-2028)
2022 2022 2023 2024 2025 2026 2027 2028

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24.1.6 Mi ddl e East an d Afri ca Insurance I T Sp en di ng Rev enu e Mar k et Si ze b y
Appl i cati ons 2024
FIG. 54 Middle East and Africa Insurance IT Spending Revenue Market Size by Applications 2022

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Chapter 25 Research Findings and Conclusion
25.1 Key Insights from Primary Interviews & Survey’s Respondents

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25.2 Key Takeaways from Analysts, Consultants, and Industry Leaders

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RESEARCH METHODOLOGY

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Chapter 26 Research Methodology
Our research studyinvolved the extensive usage of both primaryandsecondary data sources for market surveys, estimates and
for developing forecast. This report is based on in-depth qualitative and quantitative analyses of the Global Insurance IT
Spending Market. Moreover, research study involves the use of secondary sources and databases such as key companies’
annual reports, paid & public database, Bloomberg, and Factiva to identify and collect information useful for a technical and
market-oriented studyof the Insurance IT SpendingMarket.
FIG. 55 Market Research Process
We conducted interviews and discussions with numerous key industry players. We reviewed annual reports, press
releases and relevant documents for competitive analysis and better understanding of the market. The market
dynamics have been ascertained following a detailed study of the micro, and macroeconomic indicators of the
market. To calculate the market size, the report considers the revenue generated from the sales of manufacturers.
The market size calculation also includes product segmentation determined using secondary sources and verified
through primary sources. The primary sources mainly involve industry experts from core & related industries and
preferred suppliers, manufacturers, distributors, technologists, standard & certification organizations, and
organizations related to all segments of this industry’s valuechain
Market
Research
Material
Micro
Econimic
Indicators
Meso
Economic
Indicators
Macro
Economic
Indicators
Data
Collection
Data
Analysis

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In-depth interviews were conducted with primary respondents such as keyindustry participants, subject matter experts (SMEs),
executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and
quantitative information as well as to assess future prospects. The following figure depicts the market research methodology
appliedindraftingthis report on the Global Insurance IT Spending Market.
26.1.1 Secondary Research:
Secondary research includes in-depth research on current trends, technical writing, recent trade, internet sources, trade
associations, and statistical data from government websites and associated authorized agency websites. This has proven to be
the most effective andreliable approach for obtaining data, capturingindustry, andanalyzingopportunitiesandgrowth.
Secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players,
market classification & segmentation according to industry trends to the bottom-most level, and regional markets. It has also
been used to obtaininformation about the keydevelopments froma market-oriented perspective.
TABLE 50 Secondary Research Sources that are typically referred to include, but are not limited to:
Parameters Secondary Research Sources
Market Size
(Value)  Companyfinancials
 Magazines
 Journals
 Press releases
 Paid databases
 Statistical Databases
Revenue Of Companies
 Financial reports
 Companywebsites
 Public databases
Qualitative Information
(Market Dynamics and Market Trends)  Companywebsites
 Annual reports
 Press releases
 Internalandexternalproprietarydatabases
 Relevant patent andregulatory databases

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26.1.2 Pri mary Research
This report is based on in-depth qualitative and quantitative analyses of the Global Insurance IT Spending Market. The
qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these process
were validated through industryexpertise. The primarysources from the supplyside include industry experts such as CEOs, vice
presidents, marketing directors, sales professionals, and related keyexecutives from various key companies and organizations
operating in the Insurance IT Spending Market. The primarysources from the demand side include key opinion leaders, builders
& contractors, andkeyexecutives fromthe residentialandnon-residentialindustries.
A typical research interviewfulfillsthe followingfunctions:
 Provides firsthand informationon market size, market trends, growthtrends, competitive landscape, outlook, etc.
 Helps invalidatingandstrengthening the secondaryresearch findings
 Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews foreach market,
category, segment andsub-segment across geographies

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26.2 Market Size Estimation Methodology
FIG. 56 Market Size Estimation Methodology: Bottom-Up and Top-Down Approach
26.2.1 Market Val ue Is Esti mated Usi ng: Top -Down Anal ysi s and Bottom-Up Anal ysi s
Top-down analysis generally refers to using comprehensive factors as a basis for decision making. Top -down analysis is
commonlyassociated with the macro or macroeconomics. In the top-down approach, the overall market size has been used to
estimate the size of other individual markets (mentioned under the segments on the basis of Distribution Channel, by Type;
end-use industry;andregion) via percentage splits from secondaryand primaryresearch.
The bottom-up analysis takes a completely different approach. In Bottom-up approach, the data is analyzed at segment, sub-
segment or micro-level and the data is summed to achieve a macro market estimate. The bottom-up procedure was employed
to arrive at the overall size of the global market from the consumption of and their respective market share in the market. The
bottom-up approach was also used for data extracted from secondary research to validate the market size of the segments
obtained, in terms ofvalue.

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26.3 Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; marke t
breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate
the critical numbers arrived at. The data was triangulated by studying various factors and trends from both, the demand and
supplysides. Along withthis, the market size was validated using both the top-downandbottom-upapproaches.
FIG. 1 DATA Triangulation

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