Travel Insurance Market estimated to reach US$86.391 billion by 2030 at a CAGR of 15.35%

The travel insurance market is anticipated to grow at a CAGR of 15.35% from US$ 49.650 billion in 2025 to US$86.391 billion by 2030.

NEW YORK, NY, UNITED STATES, March 3, 2025 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the travel insurance market is projected to grow at a CAGR of 15.35% between 2025 and 2030 to reach US$86.391 billion by 2030.

The global travel industry was greatly impacted by the pandemic, with many travelers facing unexpected cancellations and disruptions. As a result, the demand for travel insurance has significantly increased over the past couple of years and is expected to experience substantial growth in the coming years. The travel insurance market growth can also be attributed to the rising awareness of the importance of travel insurance, especially in light of the current global landscape.

One of the key factors driving the growth of the travel insurance market is the increasing number of international travelers. With more people traveling for business, leisure, and other purposes, the need for travel insurance has become more apparent. Additionally, the report also cites the growing trend of adventure and sports tourism, which often require specialized insurance coverage.

The report also highlights the impact of the pandemic on the travel insurance market. While the initial months of the pandemic saw a decline in travel insurance sales, the market has since rebounded and is expected to continue its growth trajectory. This can be attributed to the changing travel landscape, with travelers now prioritizing insurance coverage for unexpected events.

As travel around the world has resumed, the demand for travel insurance is expected to continue to rise. With the uncertainties surrounding travel, having adequate insurance coverage has become a necessity for travelers. The travel insurance market is poised for significant growth in the coming years, providing peace of mind for travelers in these uncertain times.

In conclusion, the travel insurance market is experiencing significant growth, driven by the changing travel landscape and the increasing awareness of the importance of insurance coverage. As the world navigates through uncertain times, having travel insurance has become a crucial aspect of travel planning. With the market expected to continue its growth trajectory, travelers can rest assured that their trips are protected.

Access sample report or view details: https://www.knowledge-sourcing.com/report/global-travel-insurance-market

As a part of the report, the major players operating in the Travel insurance market that have been covered are Tata AIG General Insurance Company Limited, Berkshire Hathaway Specialty Insurance Company, AXA Travel Insurance, Seven Corners Inc., AGA Service Company, Aviva, Travel Insured International, Generali Global Assistance & Insurance Services, Travelex Insurance Services Inc., and USI Affinity Travel Insurance Services.

The market analytics report segments the travel insurance market as follows:

• By Type of Insurance Plan

o Trip Cancellation Insurance
o Baggage or Personal Item Loss Insurance
o Medical Insurance
o Others

• By Application

o Domestic
o International

• By Type of Travel

o Business
o Leisure
o Education

• By Geography

• North America

o USA
o Canada
o Mexico

• South America

o Brazil
o Argentina
o Others

• Europe

o UK
o Germany
o France
o Italy
o Spain
o Others

• Middle East and Africa

o Saudi Arabia
o UAE
o Others

• Asia Pacific

o China
o India
o Japan
o South Korea
o Taiwan
o Thailand
o Indonesia
o Others

Companies Profiled:

• Tata AIG General Insurance Company Limited
• Berkshire Hathaway Specialty Insurance Company
• AXA Travel Insurance
• Seven Corners Inc.
• AGA Service Company
• Aviva
• Travel Insured International
• Generali Global Assistance & Insurance Services
• Travelex Insurance Services Inc.
• USI Affinity Travel Insurance Services

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Knowledge Sourcing Intelligence (KSI) is a market research and intelligence provider that uses a combination of quantitative and qualitative research techniques to deliver comprehensive, in-depth insights to clients. Our approach to market research is centered around the concept of 'Knowledge Sourcing' - the process of gathering data and insights from multiple sources to create a comprehensive and well-rounded picture of the market. KSI's core services include market intelligence, competitive intelligence, customer intelligence, and product intelligence. KSI's approach to market research is designed to help clients make informed decisions, identify opportunities, and gain a better understanding of their target markets. By using a combination of primary and secondary research techniques, we provide clients with detailed insights into current market trends, customer profiles, competitor analysis, and product performance. KSI's market research and intelligence services enable clients to make informed decisions, develop strategic plans, and identify areas of opportunity.

Harsh Sharma
Knowledge Sourcing Intelligence LLP
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