The Insurance Advertising Global Market Report 2023, provides comprehensive information on the insurance advertising market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Insurance Advertising Global Market Report 2023, the global insurance advertising market size is expected to grow from $10.49 billion in 2022 to $11.61 billion in 2023 at a compound annual growth rate (CAGR) of 10.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global insurance advertising market size is expected to grow to $17.20 billion in 2027 at a CAGR of 10.3%.
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Product innovations have emerged as the key trend gaining popularity in the insurance advertising market. Major companies operating in the insurance advertising market are developing innovative products to strengthen their position in the market. For instance, in September 2022, PhonePe, an-India-based digital payments platform launched an integrated multimedia brand campaign focused on tension-free motor insurance renewals. Eight commercial films will be used to launch this pan-Indian campaign in stages. It draws attention to the genuine issues that consumers have with sales pitches that have evolved into unpleasant purchasing experiences. The advertising effort raises awareness of the advantages of renewing auto insurance without stress on PhonePe.
The insurance advertising market is segmented:
1) By Type: Life Insurance, Non-Health Insurance
2) By Advertisement Channels: Television, Email, Sales Calls, Other Advertisement Channels
3) By Application: Direct Marketing, Network Marketing, Mobile Marketing, Other Applications
Asia-Pacific was the largest region in the insurance advertising market in 2022.
The table of contents in TBRC’s insurance advertising market report includes:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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