Middle East & Africa Insurtech Market Size & Outlook
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MEA insurtech market highlights
- The MEA insurtech market generated a revenue of USD 672.5 million in 2023.
- The market is expected to grow at a CAGR of 53.6% from 2024 to 2030.
- In terms of segment, health was the largest revenue generating type in 2023.
- Home is the most lucrative type segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2023 | USD 672.5 million |
| Market revenue in 2030 | USD 13,566.6 million |
| Growth rate | 53.6% (CAGR from 2023 to 2030) |
| Largest segment | Health |
| Fastest growing segment | Home |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Auto, Business, Health, Home, Specialty, Travel |
| Key market players worldwide | Oscar Health Inc Class A, Shift Technologies Inc Ordinary Shares - Class A, The Travelers Companies Inc, Wipro Ltd ADR, ZhongAn Online P&C Insurance Co Ltd Ordinary Shares - Class H |
Other key industry trends
- In terms of revenue, MEA region accounted for 8.6% of the global insurtech market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 34,495.8 million by 2030.
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Insurtech Market Scope
Insurtech Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| ZhongAn Online P&C Insurance Co Ltd Ordinary Shares - Class H | View profile | 2679 | 219 Yuanmingyuan Road, Shanghai, China, People's Republic of, | https://www.zhongan.com |
| Wipro Ltd ADR | View profile | 244707 | Sarjapur Road, Doddakannelli, Bangalore, KA, India, 560 035 | https://www.wipro.com |
| The Travelers Companies Inc | View profile | 33300 | 485 Lexington Avenue, New York, NY, United States, 10017 | https://www.travelers.com |
| Shift Technologies Inc Ordinary Shares - Class A | View profile | 970 | 290 Division Street, Suite 400, San Francisco, CA, United States, 94103-4893 | https://www.shift.com |
| Oscar Health Inc Class A | View profile | 2400 | 75 Varick Street, 5th Floor, New York, NY, United States, 10013 | https://www.hioscar.com |
Middle East & Africa insurtech market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to insurtech market will help companies and investors design strategic landscapes.
Health was the largest segment with a revenue share of 24.4% in 2023. Horizon Databook has segmented the Middle East & Africa insurtech market based on auto, business, health, home, specialty, travel covering the revenue growth of each sub-segment from 2017 to 2030.
- Middle East & Africa Insurtech Type Outlook (Revenue, USD Million, 2017-2030)
- Auto
- Business
- Health
- Home
- Specialty
- Travel
- Others
- Middle East & Africa Insurtech Service Outlook (Revenue, USD Million, 2017-2030)
- Consulting
- Support & Maintenance
- Managed Services
- Middle East & Africa Insurtech Technology Outlook (Revenue, USD Million, 2017-2030)
- Blockchain
- Cloud Computing
- IoT
- Machine Learning
- Robo Advisory
- Others
- Middle East & Africa Insurtech End Use Outlook (Revenue, USD Million, 2017-2030)
- Automotive
- BFSI
- Government
- Healthcare
- Manufacturing
- Retail
- Transportation
- Others
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Target buyers of Middle East & Africa insurtech market databook
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Our clientele includes a mix of insurtech market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa insurtech market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa insurtech market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa Insurtech Market Outlook Share, 2023 & 2030 (US$M)
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