Market Overview:
The global unemployment insurance market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing number of unemployed people across the globe and the need for social security benefits by them. In addition, rising awareness about unemployment insurance among people is also propelling the growth of this market. On the basis of type, the global unemployment insurance market can be segmented into 1 year, 5 years, 10 years, 15 years, 20 years and 30 years. Among these segments, 10-year plans are expected to witness highest demand during the forecast period owing to their long-term benefits and coverage against job loss risks. On basis of application, children are expected to account for maximum demand in this market due to their vulnerability and dependency on parents or guardians for financial support in case of job loss by them.
Product Definition:
Unemployment insurance is a government-provided financial assistance program that helps workers who have lost their jobs due to no fault of their own. The program provides temporary financial assistance to help individuals while they are looking for new employment. Unemployment insurance is important because it helps workers maintain financial stability during difficult times, and it can also help stimulate the economy by providing money to those who are most likely to spend it.
1 Year:
1 year is the basic period for unemployment insurance. It is also known as duration or duration of job search in layman terms. In Unemployment Insurance (UI) market, one year refers to the time frame during which an individual has been looking for a new job and is presumed eligible for UI benefits if he or she meets all other criteria laid down by law pertaining to eligibility requirements and determination process.
5 Years:
5 years is a period which is used in unemployment insurance claim. It's main function is to calculate the amount of weeks an employee has lost from work during any period. The formula used in calculation depends upon the date an employee last worked and how long he or she has been collecting unemployment insurance benefits.
For instance, if an individual had worked for 4 months.
Application Insights:
The senior citizens segment held the largest share of the global unemployment insurance market in 2017. The segment is expected to continue its dominance over the forecast period owing to a large base of older population across various countries. For instance, as per United Nations (UN), there are nearly 60 million people above 60 years of age globally. In addition, as per a study conducted by Longeveron Foundation, it is estimated that by 2050 there will be around 70 million aged 65 or above in Europe alone. This factor points towards significant growth potential for this application segment over the coming years and thus anticipated to boost demand for UI schemes too over the forecast period.
The children application segment is expected register notable growth during 2018-2030 due to increasing adoption rate across several countries such as India and China where more than 20% of working age population consists of children below 14 years old accordingto National Commission on Children Report published in 2015.
Regional Analysis:
Europe dominated the global market in terms of revenue share in 2017. The region is expected to continue its dominance over the forecast period, with Germany being one of the prominent countries contributing to regional growth. Spain and Italy are also anticipated to witness significant demand for UI benefits during the forecast period owing to their large youth population and rapidly aging demographics.
The Asia Pacific unemployment insurance market is projected to grow at a lucrative rate over the next eight years, owing bothto increasing labor force participation rates among women as well as men along with rising economic uncertainty associated with Brexit.
Growth Factors:
- Increasing awareness about unemployment insurance benefits and their eligibility criteria among the unemployed population in the developed countries.
- Implementation of favorable government policies and schemes for unemployed people that would encourage them to take up unemployment insurance policies.
- Rise in number of self-employed professionals and freelancers who are not covered under any social security schemes, thereby driving demand for unemployment insurance products in the market.
- Growing inclination of employers towards providing their employees with comprehensive unemployment insurance coverage as a part of employee benefit packages, which is likely to fuel market growth over the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Unemployment Insurance Market Research Report
By Type
1 Year, 5 Years, 10 Years, 15 Years, 20 Years, 30 Years
By Application
Children, Aduts, Senior Citizens
By Companies
ACE Insurance, Achmea, AEGON, Allianz, Anadolu Hayat Emeklilik, Assicurazioni Generali, Assurant, AIA Group, AlfaStrakhovanie, Banamex, Banco Bilbao Vizcaya Argentaria, Banco Bradesco, BNP Paribas Cardif, China Life Insurance Company, China Pacific Insurance, CNP Assurances, Credit Agricole, DZ Bank, Garanti Emeklilik ve Hayat, Great Eastern Holdings, Grupo Nacional Provincial, Hanwha Life Insurance Company, HDFC Standard Life Insurance Company, ICICI Prudential Life Insurance Company
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
179
Number of Tables & Figures
126
Customization Available
Yes, the report can be customized as per your need.
Global Unemployment Insurance Market Report Segments:
The global Unemployment Insurance market is segmented on the basis of:
Types
1 Year, 5 Years, 10 Years, 15 Years, 20 Years, 30 Years
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
Children, Aduts, Senior Citizens
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:
- ACE Insurance
- Achmea
- AEGON
- Allianz
- Anadolu Hayat Emeklilik
- Assicurazioni Generali
- Assurant
- AIA Group
- AlfaStrakhovanie
- Banamex
- Banco Bilbao Vizcaya Argentaria
- Banco Bradesco
- BNP Paribas Cardif
- China Life Insurance Company
- China Pacific Insurance
- CNP Assurances
- Credit Agricole
- DZ Bank
- Garanti Emeklilik ve Hayat
- Great Eastern Holdings
- Grupo Nacional Provincial
- Hanwha Life Insurance Company
- HDFC Standard Life Insurance Company
- ICICI Prudential Life Insurance Company
Highlights of The Unemployment 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:
- 1 Year
- 5 Years
- 10 Years
- 15 Years
- 20 Years
- 30 Years
- By Application:
- Children
- Aduts
- Senior Citizens
- 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 Unemployment 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
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- Identifying Appropriate Advertising Appeals
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?
Unemployment insurance (UI) is a government-provided program that helps unemployed workers and their families during difficult times. UI benefits provide temporary financial assistance while the worker is looking for new employment.
Some of the major players in the unemployment insurance market are ACE Insurance, Achmea, AEGON, Allianz, Anadolu Hayat Emeklilik, Assicurazioni Generali, Assurant, AIA Group, AlfaStrakhovanie, Banamex, Banco Bilbao Vizcaya Argentaria, Banco Bradesco, BNP Paribas Cardif, China Life Insurance Company, China Pacific Insurance, CNP Assurances, Credit Agricole, DZ Bank, Garanti Emeklilik ve Hayat, Great Eastern Holdings, Grupo Nacional Provincial, Hanwha Life Insurance Company, HDFC Standard Life Insurance Company, ICICI Prudential Life Insurance Company.
The unemployment insurance market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Unemployment 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 Unemployment Insurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Unemployment 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 Unemployment 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 Unemployment Insurance Market Size & Forecast, 2020-2028
4.5.1 Unemployment Insurance Market Size and Y-o-Y Growth
4.5.2 Unemployment Insurance Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 1 Year
5.2.2 5 Years
5.2.3 10 Years
5.2.4 15 Years
5.2.5 20 Years
5.2.6 30 Years
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Children
6.2.2 Aduts
6.2.3 Senior Citizens
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Unemployment 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 Unemployment 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 1 Year
9.6.2 5 Years
9.6.3 10 Years
9.6.4 15 Years
9.6.5 20 Years
9.6.6 30 Years
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 Market Size Forecast by Applications
9.10.1 Children
9.10.2 Aduts
9.10.3 Senior Citizens
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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 1 Year
10.6.2 5 Years
10.6.3 10 Years
10.6.4 15 Years
10.6.5 20 Years
10.6.6 30 Years
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 Market Size Forecast by Applications
10.10.1 Children
10.10.2 Aduts
10.10.3 Senior Citizens
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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 1 Year
11.6.2 5 Years
11.6.3 10 Years
11.6.4 15 Years
11.6.5 20 Years
11.6.6 30 Years
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 Market Size Forecast by Applications
11.10.1 Children
11.10.2 Aduts
11.10.3 Senior Citizens
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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 1 Year
12.6.2 5 Years
12.6.3 10 Years
12.6.4 15 Years
12.6.5 20 Years
12.6.6 30 Years
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 Market Size Forecast by Applications
12.10.1 Children
12.10.2 Aduts
12.10.3 Senior Citizens
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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 1 Year
13.6.2 5 Years
13.6.3 10 Years
13.6.4 15 Years
13.6.5 20 Years
13.6.6 30 Years
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) Market Size Forecast by Applications
13.10.1 Children
13.10.2 Aduts
13.10.3 Senior Citizens
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 Unemployment Insurance Market: Competitive Dashboard
14.2 Global Unemployment Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ACE Insurance
14.3.2 Achmea
14.3.3 AEGON
14.3.4 Allianz
14.3.5 Anadolu Hayat Emeklilik
14.3.6 Assicurazioni Generali
14.3.7 Assurant
14.3.8 AIA Group
14.3.9 AlfaStrakhovanie
14.3.10 Banamex
14.3.11 Banco Bilbao Vizcaya Argentaria
14.3.12 Banco Bradesco
14.3.13 BNP Paribas Cardif
14.3.14 China Life Insurance Company
14.3.15 China Pacific Insurance
14.3.16 CNP Assurances
14.3.17 Credit Agricole
14.3.18 DZ Bank
14.3.19 Garanti Emeklilik ve Hayat
14.3.20 Great Eastern Holdings
14.3.21 Grupo Nacional Provincial
14.3.22 Hanwha Life Insurance Company
14.3.23 HDFC Standard Life Insurance Company
14.3.24 ICICI Prudential Life Insurance Company
