Dublin, Nov. 02, 2022 (GLOBE NEWSWIRE) — The “Business Income Insurance Market By Type, By Coverage, By Loss Type, By Distribution Channel, By Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2031” report has been added to ResearchAndMarkets.com’s offering.
According to the report the business income insurance market was valued at $14.93 billion in 2021, and is estimated to reach $33.54 billion by 2031, growing at a CAGR of 8.8% from 2022 to 2031.
Business income insurance coverage offers a variety of coverage, including property and casualty insurance, insurance for business structures, insurance for IT equipment and laptops, stock insurance, commercial insurance, and insurance for plant and machinery, all while protecting multiple stakeholders and employees. In addition, business income coverage aids in minimizing monetary losses for a company in the event of bad occurrences such as fire and theft.
Furthermore, key players in the global business income insurance market are improving their services and trying to provide a better support and services to insurers. For instance, possible effects on the insurance sector of ongoing war in Ukraine are increasingly being questioned. In addition to the fact that hundreds of leased aircraft are grounded in Russia, the combat in Ukraine has also damaged or destroyed businesses, factories, and residential areas.
In May 2022, Allianz Global Corporate & Specialty (AGCS) announced that it will provide its services by relying on publicly-available satellite imagery, photos & videos, and information provided by customers and its local staff to assess the situation on a preliminary basis.
By distribution channel, the agents & brokers segment acquired a major share in the business income insurance market in 2021. This is attributed to the fact that purchasers prefer agents & brokers to acquire business income insurance as consumers have little understanding of appropriate plans to buy for their industry.
Region wise, North America dominated the business income insurance market in 2021. It is attributed to the fact that collaboration between traditional insurance companies and InsurTech firms has led to rise in newer models and revenue streams, higher profitability, and reduced operational costs in the North America.
The demand for business income insurance industry has increased considerably during the COVID-19 pandemic. This is attributed to increased awareness toward business income insurance among various businesses. However, business income insurance had a negative impact of pandemic as there were business interruptions experienced by a number of worldwide industries.
On the contrary, digitalization in the insurance sector is expected to help the business income insurance market growth in upcoming years. The market is anticipated to have a number of opportunities in the future, owing to increase in adoption of advanced technologies such as artificial intelligence, machine learning, and predictive analysis that are intended to increase consumer loyalty and strengthen the market presence of business income insurance by providing advanced services at reduced premium costs.
Key Findings of the Study
- By coverage, the profits/lost revenue segment led the highest business income insurance market share, in terms of revenue in 2021.
- On the basis of industry vertical, the healthcare segment is expected to exhibit the fastest growth rate during the forecast period.
- Region wise, North America generated the highest revenue in business income insurance market size in 2021.
- The key players operating in the Business income insurance market analysis include American International Group, Inc., Allianz, Allstate Insurance Company, AmTrust Financial, ASSURANT, INC., AXA, Chubb, – Employers Mutual Casualty Company, Farmers, Liberty Mutual Insurance Company, Munich RE, Nationwide Mutual Insurance Company, Next Insurance, Inc., State Farm Mutual Automobile Insurance Company, Swiss Re, The Hartford, The Travelers Indemnity Company, and Zurich. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
3.1.Market definition and scope
3.2.1.Top investment pockets
3.3.Porter’s five forces analysis
3.4.Top player positioning
3.6.COVID-19 Impact Analysis on the market
CHAPTER 4: BUSINESS INCOME INSURANCE MARKET, BY TYPE
4.1.1 Market size and forecast
4.2 Standard Business Income Insurance
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Extended Business Income Insurance
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
CHAPTER 5: BUSINESS INCOME INSURANCE MARKET, BY COVERAGE
5.1.1 Market size and forecast
5.2 Profits/Lost Revenue
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Taxes and Loan Payments
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.4 Mortgage and Rent Payments
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country
5.5 Employee’s Wages and Payroll
5.5.1 Key market trends, growth factors and opportunities
5.5.2 Market size and forecast, by region
5.5.3 Market analysis by country
5.6 Relocation Costs
5.6.1 Key market trends, growth factors and opportunities
5.6.2 Market size and forecast, by region
5.6.3 Market analysis by country
5.7.1 Key market trends, growth factors and opportunities
5.7.2 Market size and forecast, by region
5.7.3 Market analysis by country
CHAPTER 6: BUSINESS INCOME INSURANCE MARKET, BY LOSS TYPE
6.1.1 Market size and forecast
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market analysis by country
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market analysis by country
6.4.1 Key market trends, growth factors and opportunities
6.4.2 Market size and forecast, by region
6.4.3 Market analysis by country
6.5.1 Key market trends, growth factors and opportunities
6.5.2 Market size and forecast, by region
6.5.3 Market analysis by country
6.6.1 Key market trends, growth factors and opportunities
6.6.2 Market size and forecast, by region
6.6.3 Market analysis by country
CHAPTER 7: BUSINESS INCOME INSURANCE MARKET, BY DISTRIBUTION CHANNEL
7.1.1 Market size and forecast
7.2 Agents & Brokers
7.2.1 Key market trends, growth factors and opportunities
7.2.2 Market size and forecast, by region
7.2.3 Market analysis by country
7.3 Direct Response
7.3.1 Key market trends, growth factors and opportunities
7.3.2 Market size and forecast, by region
7.3.3 Market analysis by country
7.4.1 Key market trends, growth factors and opportunities
7.4.2 Market size and forecast, by region
7.4.3 Market analysis by country
CHAPTER 8: BUSINESS INCOME INSURANCE MARKET, BY INDUSTRY VERTICAL
8.1.1 Market size and forecast
8.2.1 Key market trends, growth factors and opportunities
8.2.2 Market size and forecast, by region
8.2.3 Market analysis by country
8.3.1 Key market trends, growth factors and opportunities
8.3.2 Market size and forecast, by region
8.3.3 Market analysis by country
8.4.1 Key market trends, growth factors and opportunities
8.4.2 Market size and forecast, by region
8.4.3 Market analysis by country
8.5 IT & Telecom
8.5.1 Key market trends, growth factors and opportunities
8.5.2 Market size and forecast, by region
8.5.3 Market analysis by country
8.6.1 Key market trends, growth factors and opportunities
8.6.2 Market size and forecast, by region
8.6.3 Market analysis by country
8.7 Energy & Utilities
8.7.1 Key market trends, growth factors and opportunities
8.7.2 Market size and forecast, by region
8.7.3 Market analysis by country
8.8 Transportation & Logistics
8.8.1 Key market trends, growth factors and opportunities
8.8.2 Market size and forecast, by region
8.8.3 Market analysis by country
8.9.1 Key market trends, growth factors and opportunities
8.9.2 Market size and forecast, by region
8.9.3 Market analysis by country
CHAPTER 9: BUSINESS INCOME INSURANCE MARKET, BY REGION
CHAPTER 10: COMPANY LANDSCAPE
10.2. Top winning strategies
10.3. Product Mapping of Top 10 Player
10.4. Competitive Dashboard
10.5. Competitive Heatmap
10.6. Key developments
CHAPTER 11: COMPANY PROFILES
11.1 American International Group, Inc.
11.1.1 Company overview
11.1.2 Company snapshot
11.1.3 Operating business segments
11.1.4 Product portfolio
11.1.5 Business performance
11.1.6 Key strategic moves and developments
11.3 Allstate Insurance Company
11.4 AmTrust Financial
11.5 ASSURANT, INC.
11.8 Employers Mutual Casualty Company
11.10 Liberty Mutual Insurance Company
11.11 Munich RE
11.12 Nationwide Mutual Insurance Company
11.13 Next Insurance, Inc.
11.14 State Farm Mutual Automobile Insurance Company
11.15 Swiss Re
11.16 The Hartford
11.17 The Travelers Indemnity Company
For more information about this report visit https://www.researchandmarkets.com/r/3qowp9
HER HIGHNESS SHEIKHA MOZA OPENS 11TH EDITION OF WISE SUMMIT
Safeena Husain recognized as the 2023 Wise Prize for Education Laureate for work with Educate Girls
DOHA, Qatar, Nov. 28, 2023 /PRNewswire/ — Her Highness Sheikha Moza bint Nasser, Chairperson of Qatar Foundation, spoke at the opening of the 11th edition of the WISE Summit taking place from 28-29 November in Doha, Qatar, under the theme ‘Creative Fluency: Human Flourishing in the Age of AI’.
Her Highness Sheikha Moza said: “I want to ensure WISE is a platform for new ideas that keep pace with the changes taking place in the world, and the obstacles that education faces in certain countries for reasons of which we are all too aware. There is no alternative but to innovate if we are to find solutions to intractable problems.”
During the opening plenary, Her Excellency Sheikha Hind bint Hamad Al Thani, Vice Chairperson and CEO of Qatar Foundation, awarded the prestigious WISE Prize for Education. This is the first global award of its kind that honors an individual for an outstanding contribution to education. Husain was recognized for dedicating 16 years to building the non-profit organization focused on empowering communities for girls’ education in some of India’s hardest to reach villages.
Over the years, Educate Girls has mobilized more than 1.4 million girls for enrolment and supported over 1.9 million children in their learning in India. Thanks to a precision targeting method using AI, Educate Girls is able to target, in 5 years, the same number of out-of-school girls, which would otherwise require 45 years. Through a network of over 21,000 community-based champions in some of the most marginalized communities in the country, the organization has been working to break the intergenerational cycle of inequality and exclusion.
Commenting on the award, Husain said: “This is a collective win for all of us working toward girls’ education, right from the government and local communities to dedicated gender champions and our supporters. It is a testament to the array of initiatives that are actively addressing this global challenge to ensure that every girl, in every village, is in school and learning well.
“Girls’ education is the closest thing we have to a silver bullet to solve some of the world’s most complex problems. We must recognize that the right to education is a girl’s inherent right – a right that must always take center stage.”
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Cisco Doubles Down on Network Assurance with AWS
Cisco delivers seamless integration between ThousandEyes and Amazon CloudWatch Internet Monitor.ThousandEyes’ unmatched cloud and Internet visibility combined with AWS’s Internet health and performance insights will allow a complete view of an application’s entire service delivery path, across private environments, the public Internet and into AWS’s network.Customers benefit from new operational insights and recommendations enabling them to optimize deployments and assure exceptional digital experiences for any AWS-hosted application.LAS VEGAS, Nov. 28, 2023 /PRNewswire/ — AWS re:Invent — Today at AWS re:Invent 2023, Cisco (NASDAQ: CSCO) announced new integrations between Cisco ThousandEyes and Amazon CloudWatch Internet Monitor (CWIM), a new Internet monitoring service from Amazon Web Services (AWS). The first-of-its-kind integration empowers customers with unparalleled visibility into their cloud deployments, enabling them to deliver unmatched optimized digital experiences.
With this new integration, customers can leverage operational insights to ensure optimal placement of AWS instances and monitoring coverage based on user traffic profiles. This integration comes on the heels of ThousandEyes announcing AWS Network Path Enrichment, giving customers deeper visibility into AWS by enriching ThousandEyes Path Visualization with data from AWS data sources—helping customers work more collaboratively with providers to resolve issues that are impacting application performance.
Building upon the existing relationship between AWS and Cisco, the new integration demonstrates Cisco’s deep commitment to its end-to-end network assurance vision. Cisco securely and sustainably connects everyone to everything and assures the digital experience of every one of those connections. By working with AWS, Cisco is delivering on its promise to provide visibility into every domain that impacts digital experience—whether user, enterprise, Internet, or cloud—so it can ultimately provide artificial intelligence (AI)-driven insights, recommendations, and remediations to support the digital transformation of every customer, wherever they are on their journey.
“Since launching one year ago, Amazon CloudWatch Internet Monitor has delivered real-time insights into the traffic and performance of our customers’ AWS VPCs, CloudFront distributions, and Workspaces towards Internet destinations. In-depth Internet visibility is critical to our customers, so we’re excited to combine forces with ThousandEyes to provide a comprehensive view of Internet health.” — Robert Kennedy, VP of AWS Border Network Engineering, AWS
“Connectivity is key to Sutherland’s business model and to our customer interactions. Cloud visibility is a big part of that and with ThousandEyes’ end-to-end visibility all the way from our employees’ home environments to AWS, we’re able to quickly catch and resolve issues which allows us to deliver consistent high-quality application experiences to both our employees and customers.”—Ted Sanfilippo, VP Infrastructure, Head of Global Network Services and GTOC, Sutherland
“Customers today need to assure digital experiences over any network—the ones they own and the ones they don’t. As the leader in Internet visibility, Cisco is on a mission to deliver unmatched, end-to-end network assurance. Today’s integration with AWS demonstrates our shared commitment to empower our customers to more effectively monitor and manage their cloud environments.”— Mohit Lad, Senior Vice President and General Manager, Network Assurance, Cisco, and Co-Founder, ThousandEyes
For more information and live demos visit ThousandEyes at AWS re:Invent at booth #1621. Join our Lightning Talk on the exhibit floor: NET102-S, “Extending ThousandEyes visibility to the AWS network,” November 28 at 3:30 PM – 3:50 PM (PDT)
The Amazon CloudWatch Internet Monitor integration will be available in Cisco ThousandEyes in spring 2024. The ThousandEyes platform is available for purchase today in AWS Marketplace.Additional Resources
ThousandEyes Announcement BlogAWS Marketplace: CiscoCisco at AWS re:Invent 2023Additional Cisco news at AWS re:InventAbout CiscoCisco (NASDAQ: CSCO) is the worldwide technology leader that securely connects everything to make anything possible. Our purpose is to power an inclusive future for all by helping our customers reimagine their applications, power hybrid work, secure their enterprise, transform their infrastructure, and meet their sustainability goals. Discover more on The Newsroom and follow us on X at @Cisco. Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco’s trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.
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Artificial Neural Network Market to Reach $1.4 Billion by 2032 at 19.9% CAGR: Allied Market Research
The growing demand for AI-based solutions and the rising need for intelligent business processes are expected to drive the global artificial neural network market growth.
NEW CASTLE, Del., Nov. 28, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Artificial Neural Network Market by Component (Solution and Service), Deployment Mode (On-premise and Cloud), Enterprise Size (Large Enterprises and Small & Medium-sized Enterprises), and Industry (Healthcare, BFSI, Retail and E-commerce, Manufacturing, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2022–2032”. According to the report, the artificial neural network industry generated $227.8 million in 2022 and is anticipated to generate $1.4 billion by 2032, witnessing a CAGR of 19.9% from 2023 to 2032.
Prime determinants of growth
The notable factors positively affecting the artificial neural network market include the growing demand for AI-based solutions and the rising need for intelligent business processes. However, a lack of computational resources and a skilled workforce with expertise in artificial neural network (ANN) can hinder market growth. Furthermore, advancements in big data analytics and the availability of high-performance computing systems offer lucrative market opportunities for the market players.
Download Sample Pages: https://www.alliedmarketresearch.com/request-sample/13364
Report coverage & details:
Market Size in 2022
Market Size in 2032
No. of Pages in Report
Component, Deployment Mode, Enterprise Size Industry, and Region.
Growing demand for AI-based solutions
The rising need for intelligent business processes
Advancements in big data analytics.
The availability of high-performance computing systems.
A lack of computational resources and a skilled workforce with expertise in artificial neural network (ANN)
Buy this Complete Report (450 Pages PDF with Insights, Charts, Tables, and Figures) at:
The solution segment to maintain its leadership status throughout the forecast period
Based on component, the solution segment held the highest market share in 2022, accounting for less than two-fifths of the artificial neural network market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the growing need for a high level of personalization which is one of the primary reasons enterprises are increasing their investment in the artificial neural network market. However, the services segment is projected to manifest the highest CAGR of 21.8% from 2023 to 2032. The services segment is expected to witness the highest growth, as these services help to reduce the time and costs associated with optimizing systems in the initial phase of deployment.
The on-premise segment to maintain its lead position during the forecast period
Based on deployment mode, the on-premise segment accounted for the largest share in 2022, contributing for more than one-fourth of the artificial neural network market revenue. An increase in the need for secure and reliable data within the organization is fueling the market growth for on-premises-based artificial neural network solutions. However, the cloud segment is expected to portray the largest CAGR of 21.2% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. It provides several advantages such as reducing costs, supporting business, and effectively controlling the business environment in the organization.
The large enterprises segment to maintain its lead position during the forecast period
Based on enterprise size, the large enterprises segment accounted for the largest share in 2022, contributing for more than one-fourth of the artificial neural network market revenue, owing to the growing demand for artificial neural network solutions in large enterprises which is fueling the market growth in these enterprises. However, the small and medium-sized enterprises segment is expected to portray the largest CAGR of 22.2% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. It provides various benefits to the small and medium-sized enterprises organization.
The healthcare segment to maintain its lead position during the forecast period
Based on industry vertical, the healthcare segment accounted for the largest share in 2022, contributing for less than two-fifths of the artificial neural network market revenue, owing to the development of digital technologies in IT sector. However, the manufacturing segment is projected to manifest the highest CAGR of 24.3% from 2023 to 2032. The surge in implementation of automation trends and the increase in utilization of digital technology in this sector are expected to provide lucrative opportunities for the market.
North America region dominated the global artificial neural network market in 2022
Based on region, the North America segment held the highest market share in terms of revenue in 2022, accounting for less than two-fifths of the artificial neural network market revenue. The increase in the usage of artificial neural network solutions in businesses to improve businesses and the customer experience is anticipated to propel the growth of the market in this region. However, the Asia-Pacific segment is projected to manifest the highest CAGR of 21.8% from 2023 to 2032. Countries such as China, India, and South Korea are at the forefront, embracing digital technologies to enhance their effectiveness and competitiveness, which is further expected to contribute to the growth of the market in this region.
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Recent Product launches in the Artificial Neural Network Market
In April 2023, Google LLC launched a cloud-based automation toolkit for healthcare organizations and previewed Med-PaLM 2, a neural network capable of answering medical exam questions.In August 2021, IBM Corporation unveiled details of the upcoming new IBM Telum Processor designed to bring deep learning inference to enterprise workloads to help address fraud in real-time..Recent Partnerships in the Artificial Neural Network Market
In June 2023, Snowflake partnered with Microsoft to simplify joint customers’ artificial intelligence projects. A core focus of the collaboration is Microsoft’s Azure OpenAI Service. It provides cloud-based versions of OpenAI LP’s machine learning models, including GPT-4.In November 2021, Qualcomm Technologies partnered with Google Cloud, on Neural Architecture Search (NAS), enabling the companies to create and optimize AI models automatically rather than manually.Leading Market Players: –
Amazon Web Services Inc. Google Inc. Hewlett Packard Enterprise Development LP IBM Corporation Intel Corporation Microsoft Corporation NVIDIA Corporation Oracle Corporation Qualcomm Technologies Inc. Salesforce Inc.The report provides a detailed analysis of these key players in the artificial neural network market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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- HER HIGHNESS SHEIKHA MOZA OPENS 11TH EDITION OF WISE SUMMIT
- Cisco Doubles Down on Network Assurance with AWS
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