Market Overview:
The global small & medium-sized enterprises (SMEs) insurance market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing number of SMEs across the globe and their growing contribution to the economy. In addition, the rising demand for risk management solutions among SMEs is also propelling the growth of this market. The global small & medium-sized enterprises (SMEs) insurance market can be segmented on the basis of type into medium-sized enterprises, small-sized enterprises, and micro-businesses. On the basis of application, this market can be segmented into agricultural, tourism, construction, food processing and packaging industry, industrial sector other than construction and transportation services etc.
 Insurance Industry Outlook.svg)
Product Definition:
Small and medium-sized enterprises (SMEs) are businesses with fewer than 250 employees. They account for more than 99% of all businesses in the United States and generate more than half of the country's private sector employment. SMEs are critical to economic growth, job creation, innovation, and competitiveness.
The Small Business Administration (SBA) defines a small business as one that has fewer than 500 employees. The SBA offers a number of programs to help small businesses grow and succeed, including loans, counseling, training, and advocacy.
Medium-Sized Enterprises:
The global market for insurance is expected to witness significant growth over the forecast period. The primary factor responsible for this growth will be the increased penetration of insurance services in emerging markets, which are currently underserved. Additionally, favorable government initiatives and regulations have also contributed to industry expansion.
However, despite these factors contributing significantly towards market augmentation; there remains a large section of society that remains uninsured or underinsured in developing nations such as India.
Small-Sized Enterprises:
Small-sized enterprises are companies with less than a certain number of employees. These enterprises usually have fewer financial resources as compared to large firms, and their growth is mainly dependent on the economic conditions in the country in which they operate.
The global small-sized enterprises and it's usage in SMEs insurance market size was valued at USD 28,867.4 million in 2016 and is expected to grow at a CAGR of XX% over the forecast period.
Application Insights:
The industry is segmented by application into agricultural, tourism, construction, food and industrial sectors. The construction sector accounted for the largest share in 2017 owing to the increasing demand for residential and commercial buildings across countries such as India, China and Australia. In addition to this factor, factors such as government initiatives encouraging investments in housing schemes are expected to drive growth over the forecast period.
The food processing sector is anticipated to witness significant growth over the forecast period on account of increasing domestic consumption coupled with a growing preference for foreign brands among consumers globally. This trend has led many companies operating in this space including SMEs providing services related to brand management & image building along with product development & innovation along with distribution channels management which can be effectively managed through SME policies offered by various insurers based on their assessment of risk profiles of these firms.
Regional Analysis:
Asia Pacific dominated the global market in 2017. The region is expected to continue its dominance over the forecast period, owing to factors such as increasing per capita income, changing regulatory scenario and rising awareness among people for taking insurance products. Moreover, government initiatives are also encouraging small businesses in developing economies of Asia Pacific by offering various tax benefits and subsidies on insurance premium payments.
Europe is anticipated to be one of the promising regions during the forecast period owing to a rise in demand for coverage from micro-enterprises across countries such as Germany and U.K., which have implemented favorable policies regarding micro-enterprise development through financial institutions over past few years.
Growth Factors:
- Increasing awareness about the benefits of insurance among SMEs
- Rising demand for customized insurance products and services from SMEs
- Growing number of online platforms that offer insurance products and services to SMEs
- Proliferation of risk management solutions tailored for SMEs
- Expansion of the reach of micro-insurance products to cover more vulnerable segments of the population
Scope Of The Report
Report Attributes
Report Details
Report Title
Small & Medium-Sized Enterprises (SMEs) Insurance Market Research Report
By Type
Medium-Sized Enterprises, Small-Sized Enterprises, Micro-businesses
By Application
Agricultural, Tourism, Construction, Food, Industrials, Others
By Companies
Chubb, Aviva, Zurich Insurance, AIG, AXA, PingAn, China Pacific Life Insurance
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
205
Number of Tables & Figures
144
Customization Available
Yes, the report can be customized as per your need.
Global Small & Medium-Sized Enterprises (SMEs) Insurance Market Report Segments:
The global Small & Medium-Sized Enterprises (SMEs) Insurance market is segmented on the basis of:
Types
Medium-Sized Enterprises, Small-Sized Enterprises, Micro-businesses
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Agricultural, Tourism, Construction, Food, Industrials, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Chubb
- Aviva
- Zurich Insurance
- AIG
- AXA
- PingAn
- China Pacific Life Insurance
 Insurance Market Overview.svg)
Highlights of The Small & Medium-Sized Enterprises (SMEs) Insurance Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Medium-Sized Enterprises
- Small-Sized Enterprises
- Micro-businesses
- By Application:
- Agricultural
- Tourism
- Construction
- Food
- Industrials
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Small & Medium-Sized Enterprises (SMEs) Insurance Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
 Insurance Market Statistics.svg)
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Small and medium-sized enterprises (SMEs) insurance is a type of insurance that helps protect businesses from financial losses caused by unexpected events. This type of coverage can help businesses cover costs associated with things like property damage, business interruption, and lost profits.
Some of the key players operating in the small & medium-sized enterprises (smes) insurance market are Chubb, Aviva, Zurich Insurance, AIG, AXA, PingAn, China Pacific Life Insurance.
The small & medium-sized enterprises (smes) insurance market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Small & Medium-Sized Enterprises (SMEs) Insurance Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Small & Medium-Sized Enterprises (SMEs) Insurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Small & Medium-Sized Enterprises (SMEs) Insurance Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Small & Medium-Sized Enterprises (SMEs) Insurance Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Small & Medium-Sized Enterprises (SMEs) Insurance Market Size & Forecast, 2018-2028
4.5.1 Small & Medium-Sized Enterprises (SMEs) Insurance Market Size and Y-o-Y Growth
4.5.2 Small & Medium-Sized Enterprises (SMEs) Insurance Market Absolute $ Opportunity
Chapter 5 Global Small & Medium-Sized Enterprises (SMEs) Insurance Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Small & Medium-Sized Enterprises (SMEs) Insurance Market Size Forecast by Type
5.2.1 Medium-Sized Enterprises
5.2.2 Small-Sized Enterprises
5.2.3 Micro-businesses
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Small & Medium-Sized Enterprises (SMEs) Insurance Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Small & Medium-Sized Enterprises (SMEs) Insurance Market Size Forecast by Applications
6.2.1 Agricultural
6.2.2 Tourism
6.2.3 Construction
6.2.4 Food
6.2.5 Industrials
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Small & Medium-Sized Enterprises (SMEs) Insurance Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Small & Medium-Sized Enterprises (SMEs) Insurance Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Small & Medium-Sized Enterprises (SMEs) Insurance Analysis and Forecast
9.1 Introduction
9.2 North America Small & Medium-Sized Enterprises (SMEs) Insurance Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Small & Medium-Sized Enterprises (SMEs) Insurance Market Size Forecast by Type
9.6.1 Medium-Sized Enterprises
9.6.2 Small-Sized Enterprises
9.6.3 Micro-businesses
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Small & Medium-Sized Enterprises (SMEs) Insurance Market Size Forecast by Applications
9.10.1 Agricultural
9.10.2 Tourism
9.10.3 Construction
9.10.4 Food
9.10.5 Industrials
9.10.6 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Small & Medium-Sized Enterprises (SMEs) Insurance Analysis and Forecast
10.1 Introduction
10.2 Europe Small & Medium-Sized Enterprises (SMEs) Insurance Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Small & Medium-Sized Enterprises (SMEs) Insurance Market Size Forecast by Type
10.6.1 Medium-Sized Enterprises
10.6.2 Small-Sized Enterprises
10.6.3 Micro-businesses
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Small & Medium-Sized Enterprises (SMEs) Insurance Market Size Forecast by Applications
10.10.1 Agricultural
10.10.2 Tourism
10.10.3 Construction
10.10.4 Food
10.10.5 Industrials
10.10.6 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Small & Medium-Sized Enterprises (SMEs) Insurance Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Small & Medium-Sized Enterprises (SMEs) Insurance Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Small & Medium-Sized Enterprises (SMEs) Insurance Market Size Forecast by Type
11.6.1 Medium-Sized Enterprises
11.6.2 Small-Sized Enterprises
11.6.3 Micro-businesses
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Small & Medium-Sized Enterprises (SMEs) Insurance Market Size Forecast by Applications
11.10.1 Agricultural
11.10.2 Tourism
11.10.3 Construction
11.10.4 Food
11.10.5 Industrials
11.10.6 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Small & Medium-Sized Enterprises (SMEs) Insurance Analysis and Forecast
12.1 Introduction
12.2 Latin America Small & Medium-Sized Enterprises (SMEs) Insurance Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Small & Medium-Sized Enterprises (SMEs) Insurance Market Size Forecast by Type
12.6.1 Medium-Sized Enterprises
12.6.2 Small-Sized Enterprises
12.6.3 Micro-businesses
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Small & Medium-Sized Enterprises (SMEs) Insurance Market Size Forecast by Applications
12.10.1 Agricultural
12.10.2 Tourism
12.10.3 Construction
12.10.4 Food
12.10.5 Industrials
12.10.6 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Small & Medium-Sized Enterprises (SMEs) Insurance Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Small & Medium-Sized Enterprises (SMEs) Insurance Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Small & Medium-Sized Enterprises (SMEs) Insurance Market Size Forecast by Type
13.6.1 Medium-Sized Enterprises
13.6.2 Small-Sized Enterprises
13.6.3 Micro-businesses
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Small & Medium-Sized Enterprises (SMEs) Insurance Market Size Forecast by Applications
13.10.1 Agricultural
13.10.2 Tourism
13.10.3 Construction
13.10.4 Food
13.10.5 Industrials
13.10.6 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Small & Medium-Sized Enterprises (SMEs) Insurance Market: Competitive Dashboard
14.2 Global Small & Medium-Sized Enterprises (SMEs) Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Chubb
14.3.2 Aviva
14.3.3 Zurich Insurance
14.3.4 AIG
14.3.5 AXA
14.3.6 PingAn
14.3.7 China Pacific Life Insurance
