DUBLIN, Jan. 21, 2024 (GLOBE NEWSWIRE) — “Global Secured Auto Protection Insurance Market by Type (GAP Finance Insurance, GAP Return-to-Invoice Insurance, GAP Return-to-Value Insurance), Vehicle Type (Commercial Vehicle, Passenger Vehicle), Distribution – “Forecasts 2024-2030” report added to ResearchAndMarkets.com an offer.
The global Guaranteed Auto Protection (GAP) insurance market, which was valued at $3.78 billion in 2023, is expected to witness a significant growth rate reaching an estimated $4.14 billion in 2024. Expert analysts are forecasting an upward trend at a strong CAGR of 9.44%. , bringing the market size to US$7.11 billion by 2030. An in-depth research publication providing detailed market insights has been added to our wide range of industry reports.
The latest analysis of the GAP insurance market includes a set of fundamental factors.
A comprehensive market share analysis is key to understanding competitive dynamics, with insight into how vendors are performing in terms of revenue and customer base among other parameters. Particular attention is paid to vehicle types such as commercial vehicles and passenger cars, as well as GAP insurance types including finance, return-to-bill and return-to-value cover options, providing a detailed view of market segmentation.
Market dynamics and competitive landscape
- The market is evaluated through the FPNV positioning matrix, examining business strategies and product satisfaction, which helps stakeholders make informed decisions.
- The profiles of the key companies included in the research emphasize recent important developments in the sector, highlighting major shareholders such as Allianz SE and Amica Mutual Insurance, among others.
The research also covers a broad distribution network including direct response channels, insurance agents and brokers, reflecting the variety of ways in which customers interact with GAP Insurance.
Sector growth and opportunities
- Comprehensive regional analysis covers hotspots such as the US, China and the UK, highlighting regional market trends and opportunities.
- Market penetration and diversification strategies are explored, suggesting the potential for stakeholders to expand into high-growth regions or new product segments.
- Insights into technology trends and regulatory frameworks provide an advantage to companies looking to adapt to an evolving market landscape.
Through detailed and strategic analysis, stakeholders are better positioned to capitalize on market trends, understand competitive intelligence, and harness product development and innovation to meet the demands of this growing industry.
Main qualities:
| Report attribute | details |
| number of pages | 199 |
| Forecast period | 2024 – 2030 |
| Estimated market value (in US$) in 2024 | $4.14 billion |
| Projected market value (in US$) by 2030 | $7.11 billion |
| Total annual growth rate | 9.4% |
| Covered areas | worldwide |
The mentioned companies
- Allianz SE
- Allstate Insurance Company
- Amica Mutual Insurance Company
- Assicurazioni Generali SpA
- AXA SA
- Bajaj Finserv Limited
- Gecko
- Kimber Company
- Freedom Mutual Insurance Company
- National Mutual Insurance Company
- PICC PROPERTY & CASUALTY LIMITED
- Ping An Insurance
- State Farm Mutual Auto Insurance Company
- Travelers Compensation Company
- Zurich AG
For more information about this report visit https://www.researchandmarkets.com/r/5vcjbc
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Global secured car protection insurance market