A Market Place Research – Page 2783

Allied Market Research published a report, titled, “Financial Protection Market by Type (Long-Term Financial Protection and Short-Term Financial Protection), Policy Coverage (Payment Protection and Mortgage Payment Protection), and End User (Men and Women): Global Opportunity Analysis and Industry Forecast, 2021–2030.” According to the report, the global financial protection industry generated $53.34 billion in 2020, and is expected to reach $77.43 billion by 2030, witnessing a CAGR of 3.9% from 2021 to 2030.

Drivers, Restraints, and Opportunities

Customization options for income protection insurance and mental peace offered to the insured during the recovery phase drive the growth of the global financial protection market. However, long waiting periods for certain insurance policies and pre-existing medical conditions impacting the premiums hinder the market growth. On the other hand, instability of the employment rate creates new opportunities in the coming years.

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Key Benefits For Stakeholders

The study provides in-depth analysis of the global financial protection market share along with current & future trends to illustrate the imminent investment pockets.
Information about key drivers, restrains, & opportunities and their impact analysis on the global financial protection market size are provided in the report.
Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the financial protection market.
An extensive analysis of the key segments of the industry helps to understand the global financial protection market trends.
The quantitative analysis of the global financial protection market size from 2021 to 2028 is provided to determine the market potential.

The long-term financial protection segment to continue its lead position during the forecast period

Based on type, the long-term financial protection segment accounted for the highest share in 2020, contributing to nearly three-fifths of the global financial protection market, and is expected to continue its lead position during the forecast period. Moreover, this segment is projected to register the fastest CAGR of 4.8% from 2021 to 2030. As this type provides peace of mind to the insured people by allowing them to keep up with all their essential monthly expenditures such as rent, mortgage, groceries, and utility bills, this segment will offer lucrative opportunities during the forecast period. The report also analyzes the short-term financial protection segment.

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The payment protection segment to maintain its lead in terms of revenue during the forecast period

Based on policy coverage, the payment protection segment contributed to the largest share in 2020, accounting for nearly three-fourths of the global financial protection market, and is projected to maintain its lead in terms of revenue during the forecast period. This is attributed to the regular flow of salary or payments in the case of unfortunate events and offering of opportunity to live a financially stable life. However, the mortgage payment protection segment is projected to manifest the largest CAGR of 5.6% from 2021 to 2030. This is due to ability of the insured to continue paying off the mortgage even when they are not receiving a secure income.

Europe, followed by North America, to continue its dominance in terms of revenue by 2030

Based on region, Europe, followed by North America, held the highest market share in 2020, contributing to around one-third of the global financial protection market, and is expected to continue its dominance in terms of revenue by 2030. This is due to surge in adoption of financial protection plans amid the pandemic and supportive minimum income protection (MIP) schemes for able-bodied people during the first five years of working. However, Asia-Pacific is estimated to portray the highest CAGR of 6.1% from 2021 to 2030, owing to rise in inequality and the need to build resilience to crises such as economic & financial crises and natural disasters.

Covid-19 Scenario

The demand for financial protection policies increased significantly during the Covid-19 pandemic as there was huge surge in ratios of bad debts with inability to pay loans with job losses, salary cuts, and disruptions in business operations.
As the number of claims increased during the pandemic, the premiums for financial protection policies rose. Moreover, the trend of digitization arrived in the global financial protection industry to streamline and accelerate the processes.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Market Research published a report, titled,” Microgrid Market by Connectivity (Grid Connected and Off-grid Connected), Type (AC Microgrids, DC Microgrids, and Hybrid) and End User (Commercial & Industrial, Government, Healthcare, Remote, Utility, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2030.” According to the report, the global microgrid industry was estimated at $15.88billion in 2020, and is anticipated to hit $59.74 billion by 2030, registering a CAGR of 14.9% from 2021 to 2030.

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The key players profiled in the report include ABB, General Electric, Siemens, Eaton Corporation, Honeywell, Schneider Electric, S&C Electric, Spirae Inc., Exelon Corporation, and Pareto Energy. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition, to expand their foothold in the microgrid industry.

Key Benefits for Stakeholders

This study comprises analytical depiction of the microgrid market size, and opportunity along with current trends and future estimations to depict imminent investment pockets.
The overall microgrid market analysis is determined to understand profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, size and microgrid market opportunities with a detailed impact analysis.
The microgrid market outlook forecast is quantitatively analyzed from 2021 to 2030 to benchmark the financial competency.
Porter’s five forces analysis illustrates potency of buyers and the microgrid market forecast of key vendors.
The report includes the industry trends and the microgrid market share of key vendors.

Drivers, Restraints, and Opportunities

Rise in demand in remote areas and backup for military bases and stringent government initiatives to reduce carbon footprints drive the growth of the global microgrid market. On the contrary, high installation and maintenance charges impede the market growth to some extent. However, rapid industrialization, increase in demand for power, and rise in demand for microgrids in the commercial and industrial sector areanticipated to pave the way for multiple opportunities in the industry.

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The Grid Connected Segment to Dominate by 2030

Based on connectivity, the grid connected segment contributed to nearly three-fifths of the global microgrid market share in 2020, and is anticipated to dominate the market by 2030, due to availability of storing energy from renewable resources. Moreover, this segment is anticipated to register the fastest CAGR of 15.6% throughout the forecast period. The report also includes an analysis of the off-grid connected segment.

The AC Microgrids Segment held the Highest Share in 2020

Based on type, the AC microgrids segment contributed more than three-fifths of the global microgrid market share in 2020, and is expected to rule the market by 2030, owing to lower transmission losses in AC lines. Moreover, this segment is expected to witness the highest CAGR of 15.6% throughout the forecast period. The report also includes an analysis of hybrid and DC microgrid segments.

Asia-Pacific, followed by North America, Garnered the Major Share in 2020

Based on region, Asia-Pacific garnered the major share in 2020, holding more than two-fifths of the global microgrid market. This is attributed to the growing technological advancements in microgrids in this region. Moreover, this region is anticipated to register the fastest CAGR of 16.4% throughout the forecast period. The market across North America would grow with a CAGR of 13.0% from 2021 to 2030.

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COVID-19 Scenario

Due to the lockdown, industries were working at minimum capacity. This resulted inthe lack of skilled professional for operating the technology thus impacting the microgrid market.
The production facilities and industrial operations were stalled in the initial days of the pandemic which reduced the need for maintenance from industrial sectors.

About us:

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us: