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Global Insurance Analytics Strategic Business Report 2022-2024 and 2030 – Growth in Adoption of AI and IoT in Insurance Sector Augurs Well for Insurance Analytics Market

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DUBLIN, March 1, 2024 /PRNewswire/ — The “Insurance Analytics: Global Strategic Business Report” report has been added to  ResearchAndMarkets.com’s offering.

Global Insurance Analytics Market to Reach $29.7 Billion by 2030

The global market for Insurance Analytics estimated at US$9.8 Billion in the year 2022, is projected to reach a revised size of US$29.7 Billion by 2030, growing at a CAGR of 14.8% over the analysis period 2022-2030.

Tools, one of the segments analyzed in the report, is projected to record 14.4% CAGR and reach US$20 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Services segment is readjusted to a revised 15.9% CAGR for the next 8-year period.

Influencer market insights and world market trajectories highlight the increasing demand for digitalization, advanced analytics, automation, and AI in the insurance sector, which is driving growth for the insurance analytics market. On-demand insurance is also gaining mainstream acceptance, further fueling market expansion. Competition in the insurance analytics market is fierce, with leading insurance software vendors vying for market share. The global insurance market for 2019 saw a percentage share breakdown of value sales by these key vendors.

In 2022, the insurance analytics market is marked by competitive dynamics, with players worldwide categorized based on their market presence as strong, active, niche, or trivial. The impact of COVID-19 and a looming global recession adds another layer of complexity to the market landscape, shaping strategies and market responses moving forward.

The U.S. Market is Estimated at $2.9 Billion, While China is Forecast to Grow at 13.8% CAGR

The Insurance Analytics market in the U.S. is estimated at US$2.9 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$5 Billion by the year 2030 trailing a CAGR of 13.8% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13.6% and 12.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 10.6% CAGR.

MARKET OVERVIEW

Influencer Market InsightsWorld Market TrajectoriesIncreasing Demand for Digitalization, Advanced Analytics, Automation and AI in Insurance Sector Drives Growth for Insurance Analytics MarketOn-Demand Insurance Goes MainstreamCompetitionLeading Insurance Software Vendors in the Global Insurance Analytics MarketGlobal Insurance Market for the Year 2019: Percentage Share Breakdown of Value Sales by Leading VendorsInsurance Analytics – Global Key Competitors Percentage Market Share in 2022 (E)Impact of Covid-19 and a Looming Global RecessionCompetitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

MARKET TRENDS & DRIVERS

Rapid Shift from Report-Driven Strategy to Data-Driven Decision Making in the Insurance Sector Propels Growth for Insurance AnalyticsGlobal Internet Data Generated Per Minute by Various Apps for the Year 2018Fast Adoption of Advanced Insurance Analytics Techniques: An Opportunity IndicatorGlobal Big Data Market: Revenues in US$ Billion by Segment for the Years 2019 and 2025Increasing Demand for Innovative Insurance Analytics Tools and Services Lead to GrowthGrowth in Adoption of AI and IoT in Insurance Sector Augurs Well for Insurance Analytics MarketGlobal IoT Connected Devices Market: Breakdown of Installed Base in Billion for the Years from 2015, 2018, 2021, and 2024Global AI Market: Revenues in US$ Billion for the Years 2015, 2018, 2021, 2024Consumer IoT Offers Significant Growth Opportunities for Insurance Analytics MarketGlobal IoT Market: Spending in US$ Billion by Segment for the Year 2019IoT Faces Data Management, Security and Ownership Challenges in Insurance Analytics MarketProduct OverviewInsurance Analytics: An IntroductionInsurance Analytics: Business ApplicationsProcess OptimizationRisk ManagementCustomer Management and PersonalizationClaims ManagementInsurance Analytics by TypeOn-Demand InsuranceOn-Premise Insurance

FOCUS ON SELECT PLAYERS

Applied Systems Inc.Birst, Inc.BOARD InternationalBridgei2i Analytics SolutionsGuidewire Software, Inc.Hexaware Technologies Ltd.IBM CorporationLexisNexis Group Inc.Microsoft CorporationMicroStrategy, Inc.OpenText CorporationOracle CorporationPalantir TechnologiesPegasystems, Inc.Prads Inc.Qlik Technologies, Inc.Salesforce.com, Inc.SAP SESAS Institute, Inc.Tableau Software, Inc.TIBCO Software, Inc.Verisk Analytics, Inc.Vertafore, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/c01uep

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SOURCE Research and Markets

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Crab2B Makes AsiaWorld-Expo Debut, Connecting Hong Kong’s Mobile Wholesalers with Global Buyers

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HONG KONG, Oct. 18, 2026 /PRNewswire/ — Crab2B, a pioneering B2B trading platform dedicated to mobile devices and digital products, will make its debut at the HKICEC Global Mobile Exchange Pavilion during the Global Sources Hong Kong Shows, opening at AsiaWorld-Expo on October 18, 2026.

Hong Kong has long been a major hub for electronics wholesale trade, but buyers still often rely on fragmented channels to identify suppliers. Crab2B was created to bridge this gap, bringing Hong Kong-based mobile and digital product wholesalers together on one dedicated B2B platform. Headquartered in Hong Kong, Crab2B combines the manufacturing strength of mainland China and the Greater Bay Area’s extensive supply chain capabilities with Hong Kong’s established global trading network. Together, these strengths enable Crab2B to simplify cross-border sourcing, connect buyers directly with suppliers and make international trade more accessible and efficient.

For its first appearance at a major industry trade show, Crab2B is bringing together more than 200 merchants already registered on the platform, marking a significant milestone in its development. The Crab2B booth is expected to attract electronics traders from Southeast Asia, Europe, the Middle East and beyond. Visitors will be able to discover the app’s capabilities through live demonstrations, register on the platform and connect directly with participating merchants to explore business opportunities.

A buyer who experienced the Crab2B app shared: “With Crab2B, we no longer have to search far and wide for reliable suppliers. The platform brings Hong Kong’s mobile phone wholesalers together in one place, giving us greater visibility into available products and sourcing opportunities. Whether I’m at my desk or on the move, I can find products and connect with suppliers whenever I need to. For businesses like ours that source across borders, that kind of access makes a real difference. It saves time, reduces transaction costs and helps us do business more efficiently.”

Crab2B CEO Luo Yaohong said, “We want to be pioneers in cross-border B2B trading for digital products, creating new opportunities for Hong Kong’s wholesale industry. As Hong Kong places greater emphasis on developing digital trade, we’re addressing a longstanding gap in the market with a dedicated digital platform that connects Hong Kong’s electronics suppliers directly with buyers around the world. Our ambition is to make cross-border trading easier, faster and more accessible, while helping Hong Kong businesses reach new markets.”

The platform’s trade show debut is also attracting attention from international merchants, with exhibitors expressing interest in joining Crab2B to expand their reach into overseas markets. Meanwhile, merchants already registered on the platform are looking forward to the launch of its planned online marketplace, which will create further opportunities for sustained collaboration and business growth.

Building on this debut, Crab2B will remain firmly rooted in Hong Kong while expanding its connections with businesses around the world. The company will continue to enhance its platform with smarter sourcing tools, more comprehensive trading capabilities and an increasingly connected network of suppliers and buyers. By making it easier to discover products, establish business relationships and conduct cross-border transactions, Crab2B aims to open new opportunities for merchants of all sizes and help shape the next chapter of Hong Kong’s digital trade industry.

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SOURCE Crab2B

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Canton Fair Buyers Alliance Launched as the 140th Edition Opens

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GUANGZHOU, China, Oct. 17, 2026 /PRNewswire/ — On October 15, the Canton Fair Buyers Alliance was officially launched at the Canton Fair Complex, marking a significant milestone as the fair celebrates the 70th anniversary of its founding.

More than 140 overseas buyers attended the launch ceremony, highlighting the fair’s enduring role as a bridge connecting global commerce with China’s export sector.

Speaking at the ceremony, Luís Vilariça, CEO of Joinco, Import & Export, Ltd., discussed his company’s long-standing relationship with the Canton Fair. Drawing on years of participation, he reflected on the growth opportunities created through cooperation with Chinese suppliers and highlighted the fair’s role in supporting international business development and global trade exchanges.

The ceremony also featured a joint declaration by alliance members. Representatives from five member companies read the statement in their respective native languages, underscoring the international character of the new organization. Additional members sent video congratulatory messages, joining the celebration and witnessing the official launch of the alliance.

The Canton Fair Buyers Alliance represents one of the fair’s key service innovations. Designed primarily for Fortune Global 500 companies, buyers from the world’s top 250 retailers and leading sourcing enterprises across a diverse range of markets, the alliance aims to offer members a platform for information sharing and resource coordination. The first cohort of alliance members includes 58 companies from 32 countries and regions across 5 continents. Through the alliance, members will gain access to a range of priority benefits spanning four major areas: services, events, resources and information.

 For more convenient attendance, please click here for pre-registration:

https://buyer.cantonfair.org.cn/register/buyer/email?source_type=16

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SOURCE Canton Fair

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Bioethanol from human hair – Indian start-up’s solution to rising prices of grains and sugar

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GUJARAT, India, Oct. 17, 2026 /PRNewswire/ — In what could be called the beginning of the 5G (fifth-generation) of bioethanol or non-cellulosic bioethanol or non-sugar-based biofuels, an Indian start-up, Techofest Global, based out of Gujarat, has developed its own, indigenous, and patented technology for the production of bioethanol from waste human hair. Such processes would significantly reduce the employment of sugars, grains, and agricultural residues, which form the classical first- and second-generation bioethanol feedstocks. As a result, the rising fuel-vs.-food/fodder debate is anticipated to reduce, and instead, ethanol produced from municipal/industrial waste, after trials, can supplement the current supply being used as blends with presently retailed fossil fuels (E20, E27, etc.). 

As stated by Dr. Ravi, the founder-CEO of Techofest Global, the strategic priority and the USP of the start-up is industrial symbiosis, which, typically, involves an ecosystem of up-cycling/valorising the effluents of an industry, thereby creating a value-chain for residues often lacking an end-of-life. With more than three decades of experience in designing customized nuclear fusion reactors for international programmes, such as ITER, JET/UKAEA and SST-1, Dr. Ravi, a seasoned mechanical engineer, spearheads the start-up’s patented technologies’ scale-up and commercialization.

Two biochemical engineers, Dr. Navnit – the former CTO, and Dr. Kabilan – the former CEO of Biomakerz, Chennai, are the brains behind the current technology/process portfolio of the joint-venture between Techofest Global and Biomakerz. They have been working on biorefineries’ process intensification for more than a decade. “Having foreseen the fuel-vs-fodder/food competition as early as the year 2015, we began developing techno-economically feasible and viable in-vitro metabolically-engineered bioprocesses for scaling-up ethanol production from municipal waste streams between 2019–2021”, says Navnit. After developing operational technologies for international biofuel organizations, serving process engineer roles with certain biorefineries-related OMC R&D’s of India, Dr. Navnit, presently works for a premier academic institution.

An on-going fermentation trial at the Techofest Global-Biomakerz JV’s R&D facility

Techofest Global has developed and tested, in its R&D JV’s pilot-facility of ~100-L, 3 innovative and cost-effective technologies, such as 5G ethanol production using human hair, used cooking oil (UCO), and enriched bio-methane production from disposed sanitary napkins.

“With massive CapEx and OpEx, 2G ethanol technology is facing a major commercialization bottleneck, owing to competition with food/livestock fodder, requirement of a cost-intensive pre-treatment procedure, and the requirement of cellulolytic cocktails, which have a poor recycle efficiency. The proprietary 5G SAFE process developed for the start-up circumvents the mentioned constraints, and instead, utilizes a single-stage saccharification followed by fermentation, and records over 85–90% biocatalyst recovery. Likewise, the proprietary SIM process for bio-methane production, exclusively developed for the start-up, is 2x faster with improved intermittent feeding cycles and continuous gas harvest”, says Navnit.

“With on-going pre-commercialization trials, the proprietary ethanol and bio-methane processes of ours are soon being commercialized”, says Ms. Bhumika, the co-founder and the corporate advisor of the start-up. Furthermore, Mr. Ronak pilots the organization’s global market entry and commercialization frontier.

Techofest Global’s veteran Principal Technology Advisors include: Dr VS Tripathi, former Joint Director, DRDE Gwalior, Dr B S Munjal, former Director, Structures and Thermal group, SAC/ISRO, Academician and Advisor CIKS-Dharohar, GTU, and Dr AV Santhanababu, former Scientist at Satish Dhawan Space Centre. With on-going R&D activities, Dr. Munjal says, “the start-up is striving to provide a unique solution along the lines of the Atmanirbhar and Viksit Bharat Vision 2047”.

Media Contact: www.techofestglobal.com; e-mail: info@techofestglobal.com; contact person: The PR team of Techofest Global.

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