The credit insurance market was valued at US$ 8.64 billion in 2017 and is projected to reach US$ 10.77 billion by 2025. The Credit insurance market is expected to grow at a CAGR of 2.9% during the forecast period of 2017 to 2025.
The credit insurance market refers to the type of insurance which deals with property and casualty insurance. The traders or the merchants or the exporters across the globe faces severe challenges related to slow payment, debtor’s insolvencies and bankruptcies. This factor has bolstered the adoption rate of credit insurance policies in the developed as well as developing regions. The major benefit of credit insurance which attracts the consumers is that the insurance policies protects the companies from non-payment of commercial debts. The global trade sector is experiencing a significant growth in both domestic market as well as international market, with Europe and North America being the leaders in the exporting various goods and products. Countries in Asia Pacific, Middle East and Africa, and Latin America are constantly experiencing substantial demand for trading and exporting products out the country. The global Credit Insurance market for credit insurance is expected to exhibit high growth in near future. Some of the major driving factors contributing to the market growth includes the global macro-economic instability, which is posing a severe commercial threat to the trader, thereby, increasing the adoption of credit insurance. Another factor catalyzing the demand accounted for different services offered by the companies which include sales support and account receivable support. However, the growth of global market for credit insurance accounted for several fraudulent cases related to insurance claims from both the policyholders as well as the insurance underwriters.
The market for credit insurance globally has been segmented on the basis of components into two major segment including products and services. The companies operating in the global credit insurance market design and innovate robust products and services depending upon the requirements of the customers or clients. The global credit insurance market is further bifurcated on basis of enterprise size as small & medium enterprises (SMEs) and large enterprises. The large enterprises capture a significant market share in the global credit insurance market over the years. The different types of applications of credit insurance includes domestic trading market and export trading market. The export segment in the application is much more prominent and the demand for credit insurance products and services are gaining importance in the domestic market in the current years. The global market for credit insurance is categorized on basis of five strategic regions namely; North America, Europe, Asia Pacific, Middle East and Africa, and South America. Geographically, the two most dominant region in the current market scenario accounted for Europe and North America.
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Credit Insurance Market: Strategic Insights
Market Size Value in US$ 8.64 Billion in 2017 Market Size Value by US$ 10.77 Billion by 2025 Growth rate CAGR of 2.9% from 2017-2025 Forecast Period 2017-2025 Base Year 2017
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Credit Insurance Market: Strategic Insights
| Market Size Value in | US$ 8.64 Billion in 2017 |
| Market Size Value by | US$ 10.77 Billion by 2025 |
| Growth rate | CAGR of 2.9% from 2017-2025 |
| Forecast Period | 2017-2025 |
| Base Year | 2017 |
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Credit insurance Market Insights
Improving Sales and Accounts Receivable Support Benefits to Accentuate the Demand for Credit Insurance
Businesses now a days are constantly focusing on enhancing their technologies, services, and customer base in order to improve the sales year on year. The credit insurance companies help the manufacturer, distributors, suppliers and other business traders with enhanced knowledge to select the appropriate customers, in order to optimize the trader to optimize their company’s bottom line. Selecting the inappropriate or wrong customers lead to credit defaulter or slow pay customers, which again negatively impact on the company’s sales. Credit insurance also offers protection against exceptional export risks by stipulating the market dynamics and knowledge across the globe in which the company operates. This offers the traders to venture into different geographies, thereby resulting in increase in customer base and ultimately improving sales. This factor also mitigates the potential risks of the company with less clientele. These factors place the trader especially an export business company at a competitive advantages position over other traders operating in the same industry.
Component -Based Market Insights
The credit insurance market has been segmented on basis of component as products and services. The products are the insurance policies offered by the underwriters, which benefits the insurance buyers or traders to understand the market scenario and the available risks related to the buyer’s business. This factor is a major driver for the product segment under component segment. On the other, the insurance companies are also dedicating their time and efforts to offer their clients with enhanced services, which is propelling the demand for credit insurance in the merchandise sector across the globe.
Enterprise Size -Based Market Insights
The global credit insurance market is segmented on basis of enterprise size as small & medium enterprises and large enterprises. The credit insurance companies offer their products and services to every level enterprises and also alters the policies and services depending upon the enterprise size, annual revenue, trading history, historical debt loss, trade sectors and customer base. In case of the policyholder opts for political risk coverage, the premium amount is higher for both large and small & medium enterprises.
Players operating in the Credit insurance market focus on strategies, such as market initiatives, acquisitions, and product launches, to maintain their positions in the credit insurance market. A few developments by key players of the credit insurance market are:
In June 2018, Atradius N.V. opened branch office in Sofia, Bulgaria to strengthen its strategic presence in the burgeoning Bulgarian market, through steadily expanding exports and high GDP growth rates, creating a substantial credit insurance market volume.
In September 2018, Coface announced that it has signed a binding agreement to acquire PKZ.
Credit Insurance Market Report Scope
Credit Insurance Market – by Component
- Products
- Services
Credit Insurance Market – by Application
- Domestic
- Exports
Credit Insurance Market – by Enterprise Size
- Small & Medium Enterprise
- Large Enterprise
Credit Insurance Market – by Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Spain
- UK
- Italy
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- Japan
- South Korea
- Rest of APAC
- MEA
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- SAM
- Brazil
- Rest of SAM
Credit Insurance Market – Company Profiles
- American International Group, Inc
- Atradius N.V.
- CESCE
- China Export & Credit Insurance Corporation
- coface sa
- Credendo
- Euler hermes
- Export Development Canada
- Qbe insurance group limited
- zurich insurance group
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component ; Enterprise Size ; & Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
TABLE OF CONTENTS
1. INTRODUCTION 14
1.1 SCOPE OF THE STUDY 14
1.2 THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE 14
2. KEY TAKEAWAYS 16
3. CREDIT INSURANCE MARKET LANDSCAPE 20
3.1 MARKET OVERVIEW 20
3.2 MARKET SEGMENTATION 21
3.2.1 Credit Insurance Market – By Component 22
3.2.2 Credit Insurance Market – By Enterprise Size 22
3.2.3 Credit Insurance Market – By Application 23
3.2.4 Credit Insurance Market – By Geography 23
3.3 PEST ANALYSIS 24
3.3.1 North America – PEST Analysis 24
3.3.2 Europe – PEST Analysis 26
3.3.3 Asia Pacific – PEST Analysis 28
3.3.4 Middle East and Africa – PEST Analysis 30
3.3.5 South America – PEST Analysis 32
4. CREDIT INSURANCE MARKET – KEY INDUSTRY DYNAMICS 34
4.1 KEY MARKET DRIVERS 34
4.1.1 Unstable Macro-Economic Factors are Influencing the Growth of Credit Insurance 34
4.1.2 Improving Sales and Accounts Receivable Support Benefits to Accentuate the Demand for Credit Insurance 34
4.2 KEY MARKET RESTRAINTS 35
4.2.1 Fraudulent Policies and Claims are Limiting the Market Growth 35
4.3 KEY MARKET OPPORTUNITIES 35
4.3.1 Asia Pacific a Lucrative Region for Credit Insurance Companies 35
4.4 FUTURE TRENDS 36
4.4.1 Simplified Insurance Claiming Procedures 36
4.4.2 Integration of Technology to Boost the Market Growth 36
4.5 IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS 37
5. CREDIT INSURANCE – PREMIUM INSIGHTS 38
5.1 CREDIT INSURANCE REGULATORY FRAMEWORK 38
5.2 CREDIT INSURANCE RISK ANALYSIS 39
5.2.1 Credit Insurance Political and Commercial Risk: 39
6. CREDIT INSURANCE – GLOBAL MARKET ANALYSIS 40
6.1 GLOBAL CREDIT INSURANCE MARKET OVERVIEW 40
6.2 GLOBAL CREDIT INSURANCE MARKET FORECAST AND ANALYSIS 41
7. CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 – COMPONENT 43
7.1 OVERVIEW 43
7.2 GLOBAL CREDIT INSURANCE MARKET BREAKDOWN, BY COMPONENTS, 2017 & 2025 43
7.2.1 Products market 44
7.2.1.1 Overview 44
7.2.1.2 Products Market Forecasts and Analysis 44
7.2.2 Services Market 45
7.2.2.1 Overview 45
7.2.2.2 Services Market Forecasts and Analysis 45
8. CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 – ENTERPRISE SIZE 46
8.1 OVERVIEW 46
8.2 GLOBAL CREDIT INSURANCE MARKET BREAKDOWN, BY ENTERPRISE SIZE, 2017 & 2025 46
8.3 SMALL & MEDIUM ENTERPRISE MARKET 47
8.3.1 Overview 47
8.3.2 Small & Medium Enterprise Market Forecasts and Analysis 47
8.4 LARGE ENTERPRISE MARKET 48
8.4.1 Overview 48
8.4.2 Large Enterprise Market Forecasts and Analysis 48
9. CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 – APPLICATION 49
9.1 OVERVIEW 49
9.2 GLOBAL CREDIT INSURANCE MARKET BREAKDOWN, BY APPLICATION, 2017 & 2025 49
9.3 DOMESTIC MARKET 50
9.3.1 Overview 50
9.3.2 Domestic Market Forecasts and Analysis 50
9.4 EXPORT MARKET 51
9.4.1 Overview 51
9.4.2 Export Market Forecasts and Analysis 51
10. CREDIT INSURANCE MARKET – GEOGRAPHICAL ANALYSIS 52
10.1 OVERVIEW 52
10.2 NORTH AMERICA CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 53
10.2.1 Overview 53
10.2.2 North America Credit Insurance Market Breakdown by Key Countries 54
10.2.2.1 U.S. Credit Insurance Market Revenue and Forecasts to 2025 (US$ Mn) 55
10.2.2.2 Canada Credit Insurance Market Revenue and Forecast to 2025 (US$ Mn) 56
10.2.2.3 Mexico Credit Insurance Market Revenue and Forecasts to 2025 (US$ Mn) 57
10.2.3 North America Credit Insurance Market Breakdown by Component 58
10.2.4 North America Credit Insurance Market Breakdown by Enterprise Size 59
10.2.5 North America Credit Insurance Market Breakdown by Application 60
10.3 EUROPE CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 61
10.3.1 Overview 61
10.3.2 Europe Credit Insurance Market Breakdown by Key Countries 62
10.3.2.1 France Credit Insurance Market Revenue and Forecasts to 2025 (US$ Mn) 63
10.3.2.2 Germany Credit Insurance Market Revenue and Forecast to 2025 (US$ Mn) 64
10.3.2.3 Italy Credit Insurance Market Revenue and Forecasts to 2025 (US$ Mn) 65
10.3.2.4 U.K Credit Insurance Market Revenue and Forecasts to 2025 (US$ Mn) 66
10.3.2.5 Spain Credit Insurance Market Revenue and Forecasts to 2025 (US$ Mn) 67
10.3.2.6 Rest of Europe Credit Insurance Market Revenue and Forecasts to 2025 (US$ Mn) 68
10.3.3 Europe Credit Insurance Market Breakdown by Component 68
10.3.4 Europe Credit Insurance Market Breakdown by Enterprise Size 69
10.3.5 Europe Credit Insurance Market Breakdown by Application 70
10.4 APAC CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 71
10.4.1 Overview 71
10.4.2 APAC Credit Insurance Market Breakdown by Key Countries 73
10.4.2.1 South Korea Credit Insurance Market Revenue and Forecasts to 2025 (US$ Mn) 74
10.4.2.2 China Credit Insurance Market Revenue and Forecast to 2025 (US$ Mn) 75
10.4.2.3 India Credit Insurance Market Revenue and Forecasts to 2025 (US$ Mn) 76
10.4.2.4 Japan Credit Insurance Market Revenue and Forecasts to 2025 (US$ Mn) 77
10.4.2.5 Rest of APAC Credit Insurance Market Revenue and Forecasts to 2025 (US$ Mn) 78
10.4.3 Asia Pacific (APAC) Credit Insurance Market Breakdown by Component 78
10.4.4 Asia Pacific (APAC) Credit Insurance Market Breakdown by Enterprise Size 79
10.4.5 Asia Pacific (APAC) Credit Insurance Market Breakdown by Application 80
10.5 MIDDLE EAST & AFRICA (MEA) CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 81
10.5.1 Overview 81
10.5.2 Middle East & Africa (MEA) Credit Insurance Market Revenue and Forecasts to 2025 (US$ Mn) 82
10.5.3 Middle East & Africa (MEA) Credit Insurance Market Breakdown by Key Countries 82
10.5.3.1 Saudi Arabia Credit Insurance Market Revenue and Forecast to 2025 (US$ Mn) 83
10.5.3.2 UAE Credit Insurance Market Revenue and Forecasts to 2025 (US$ Mn) 84
10.5.3.3 South Africa Credit Insurance Market Revenue and Forecasts to 2025 (US$ Mn) 85
10.5.4 1.5.4 Middle East & Africa (MEA) Credit Insurance Market Breakdown by Component 86
10.5.5 Middle East & Africa (MEA) Credit Insurance Market Breakdown by Enterprise Size 87
10.5.6 Middle East & Africa (MEA) Credit Insurance Market Breakdown by Application 88
10.6 SOUTH AMERICA (SAM) CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 89
10.6.1 Overview 89
10.6.2 South America (SAM) Credit Insurance Market Breakdown by Key Countries 90
10.6.2.1 Brazil Credit Insurance Market Revenue and Forecasts to 2025 (US$ Mn) 91
10.6.3 South America (SAM) Credit Insurance Market Breakdown by Component 92
10.6.4 South America (SAM) Credit Insurance Market Breakdown by Enterprise Size 93
10.6.5 South America (SAM) Credit Insurance Market Breakdown by Application 94
11. INDUSTRY LANDSCAPE 95
11.1 MARKET INITIATIVE 95
11.2 MERGER AND ACQUISITION 96
11.3 NEW DEVELOPMENT 97
12. COMPETITIVE LANDSCAPE 98
12.1 COMPETITIVE PRODUCT MAPPING 98
12.2 MARKET POSITIONING – GLOBAL TOP 5 PLAYERS RANKING 99
13. CREDIT INSURANCE MARKET, KEY COMPANY PROFILES 100
13.1 EULER HERMES 100
13.1.1 Key Facts 100
13.1.2 Business Description 100
13.1.3 Financial Overview 101
13.1.4 SWOT Analysis 101
13.1.5 Key Developments 103
13.2 ATRADIUS N.V. 104
13.2.1 Key Facts 104
13.2.2 Business Description 104
13.2.3 Financial Overview 105
13.2.4 SWOT Analysis 105
13.2.5 Key Developments 107
13.3 COFACE SA 108
13.3.1 Key Facts 108
13.3.2 Business Description 108
13.3.3 Financial Overview 109
13.3.4 SWOT Analysis 109
13.3.5 Key Developments 111
13.4 AMERICAN INTERNATIONAL GROUP, INC. 112
13.4.1 Key Facts 112
13.4.2 Business Description 112
13.4.3 Financial Overview 113
13.4.4 SWOT Analysis 113
13.4.5 Key Developments 115
13.5 CREDENDO 116
13.5.1 Key Facts 116
13.5.2 Business Description 116
13.5.3 Financial Overview 116
13.5.4 SWOT Analysis 117
13.5.5 Key Developments 118
13.6 QBE INSURANCE GROUP LIMITED 119
13.6.1 Key Facts 119
13.6.2 Business Description 119
13.6.3 Financial Overview 120
13.6.4 SWOT Analysis 120
13.6.5 Key Developments 122
13.7 ZURICH INSURANCE GROUP 123
13.7.1 Key Facts 123
13.7.2 Business Description 123
13.7.3 Financial Overview 124
13.7.4 SWOT Analysis 124
13.7.5 Key Developments 126
13.8 CHINA EXPORT & CREDIT INSURANCE CORPORATION 127
13.8.1 Key Facts 127
13.8.2 Business Description 127
13.8.3 Financial Overview 127
13.8.4 SWOT Analysis 128
13.8.5 Key Developments 129
13.9 CESCE 130
13.9.1 Key Facts 130
13.9.2 Business Description 130
13.9.3 Financial Overview 130
13.9.4 SWOT Analysis 131
13.9.5 Key Developments 132
13.10 EXPORT DEVELOPMENT CANADA 133
13.10.1 Key Facts 133
13.10.2 Business Description 133
13.10.3 Financial Overview 134
13.10.4 SWOT Analysis 134
13.10.5 Key Developments 136
14. APPENDIX 137
14.1 ABOUT THE INSIGHT PARTNERS 137
14.2 GLOSSARY OF TERMS 138
14.3 METHODOLOGY 140
14.3.1 Coverage 140
14.3.2 Secondary Research 140
14.3.3 Primary Research 141
LIST OF TABLES
TABLE 1. GLOBAL CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 (US$ BN) 42
TABLE 2. NORTH AMERICA CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 – BY COMPONENT (US$ MN) 58
TABLE 3. NORTH AMERICA CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 – BY ENTERPRISE SIZE (US$ MN) 59
TABLE 4. NORTH AMERICA CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 – BY APPLICATION (US$ MN) 60
TABLE 5. EUROPE CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 – BY COMPONENT (US$ MN) 69
TABLE 6. EUROPE CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 – BY ENTERPRISE SIZE (US$ MN) 69
TABLE 7. EUROPE CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 – BY APPLICATION (US$ MN) 70
TABLE 8. ASIA PACIFIC (APAC) CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 – BY COMPONENT (US$ MN) 79
TABLE 9. ASIA PACIFIC (APAC) CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 – BY ENTERPRISE SIZE (US$ MN) 79
TABLE 10. ASIA PACIFIC (APAC) CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 – BY APPLICATION (US$ MN) 80
TABLE 11. MIDDLE EAST & AFRICA (MEA) CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 – BY COMPONENT (US$ MN) 86
TABLE 12. MIDDLE EAST & AFRICA (MEA) CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 – BY ENTERPRISE SIZE (US$ MN) 87
TABLE 13. MIDDLE EAST & AFRICA (MEA) CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 – BY APPLICATION (US$ MN) 88
TABLE 14. SOUTH AMERICA (SAM) CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 – BY COMPONENT (US$ MN) 92
TABLE 15. SOUTH AMERICA (SAM) CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 – BY ENTERPRISE SIZE (US$ MN) 93
TABLE 16. SOUTH AMERICA (SAM) CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 – BY APPLICATION (US$ MN) 94
TABLE 17. GLOSSARY OF TERM: CREDIT INSURANCE MARKET 138
LIST OF FIGURES
FIGURE 1. GLOBAL SMALL & MEDIUM ENTERPRISE MARKET, REVENUE & MARKET SHARE – 2017 & 2025 (US$ MN, %) 16
FIGURE 2. ASIA PACIFIC CREDIT INSURANCE MARKET REVENUE (US$ MN), 2017 & 2025 17
FIGURE 3. GLOBAL CREDIT INSURANCE MARKET – BY SERVICE 18
FIGURE 4. GLOBAL CREDIT INSURANCE MARKET – BY APPLICATION, MARKET SHARE (%), 201 7 & 2025 19
FIGURE 5. CREDIT INSURANCE MARKET SEGMENTATION 21
FIGURE 6. CREDIT INSURANCE MARKET SEGMENTATION - GEOGRAPHY 22
FIGURE 7. NORTH AMERICA – PEST ANALYSIS 24
FIGURE 8. EUROPE – PEST ANALYSIS 26
FIGURE 9. ASIA PACIFIC – PEST ANALYSIS 28
FIGURE 10. MIDDLE EAST AND AFRICA – PEST ANALYSIS 30
FIGURE 11. SOUTH AMERICA – PEST ANALYSIS 32
FIGURE 12. CREDIT INSURANCE MARKET IMPACT ANALYSIS OF DRIVER AND RESTRAINTS 37
FIGURE 13. GLOBAL CREDIT INSURANCE MARKET 40
FIGURE 14. GLOBAL CREDIT INSURANCE MARKET FORECAST AND ANALYSIS 41
FIGURE 15. GLOBAL CREDIT INSURANCE MARKET BREAKDOWN, BY COMPONENT, 2017 & 2025 (%) 43
FIGURE 16. GLOBAL PRODUCTS MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 44
FIGURE 17. GLOBAL SERVICES MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 45
FIGURE 18. GLOBAL CREDIT INSURANCE MARKET BREAKDOWN, BY ENTERPRISE SIZE, 2017 & 2025 (%) 46
FIGURE 19. GLOBAL SMALL & MEDIUM ENTERPRISE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 47
FIGURE 20. GLOBAL LARGE ENTERPRISE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 48
FIGURE 21. GLOBAL CREDIT INSURANCE MARKET BREAKDOWN, BY APPLICAITON, 2017 & 2025 (%) 49
FIGURE 22. GLOBAL DOMESTIC MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 50
FIGURE 23. GLOBAL EXPORT MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 51
FIGURE 24. CREDIT INSURANCE MARKET, GLOBAL BREAKDOWN BY REGIONS, 2017 & 2025 (%) 52
FIGURE 25. NORTH AMERICA CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 53
FIGURE 26. NORTH AMERICA CREDIT INSURANCE MARKET BREAKDOWN BY KEY COUNTRIES, 2017 & 2025(%) 54
FIGURE 27. U.S. CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 55
FIGURE 28. CANADA CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 56
FIGURE 29. MEXICO CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 57
FIGURE 30. NORTH AMERICA CREDIT INSURANCE MARKET BREAKDOWN BY COMPONENT, 2017 & 2025 (%) 58
FIGURE 31. NORTH AMERICA CREDIT INSURANCE MARKET BREAKDOWN BY ENTERPRISE SIZE, 2017 & 2025 (%) 59
FIGURE 32. NORTH AMERICA CREDIT INSURANCE MARKET BREAKDOWN BY APPLICATION, 2017 & 2025 (%) 60
FIGURE 33. EUROPE CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 62
FIGURE 34. EUROPE CREDIT INSURANCE MARKET BREAKDOWN BY KEY COUNTRIES, 2017 & 2025(%) 62
FIGURE 35. FRANCE CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 63
FIGURE 36. GERMANY CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 64
FIGURE 37. ITALY CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 65
FIGURE 38. U.K CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 66
FIGURE 39. SPAIN CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 67
FIGURE 40. REST OF EUROPE CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 68
FIGURE 41. EUROPE CREDIT INSURANCE MARKET BREAKDOWN BY COMPONENT, 2017 & 2025 (%) 68
FIGURE 42. EUROPE CREDIT INSURANCE MARKET BREAKDOWN BY ENTERPRISE SIZE, 2017 & 2025 (%) 69
FIGURE 43. EUROPE CREDIT INSURANCE MARKET BREAKDOWN BY APPLICATION, 2017 & 2025 (%) 70
FIGURE 44. APAC CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 72
FIGURE 45. APAC CREDIT INSURANCE MARKET BREAKDOWN BY KEY COUNTRIES, 2017 & 2025(%) 73
FIGURE 46. SOUTH KOREA CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 74
FIGURE 47. CHINA CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 75
FIGURE 48. INDIA CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 76
FIGURE 49. JAPAN CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 77
FIGURE 50. REST OF APAC CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 78
FIGURE 51. ASIA PACIFIC (APAC) CREDIT INSURANCE MARKET BREAKDOWN BY COMPONENT, 2017 & 2025 (%) 78
FIGURE 52. ASIA PACIFIC (APAC) CREDIT INSURANCE MARKET BREAKDOWN BY ENTERPRISE SIZE, 2017 & 2025 (%) 79
FIGURE 53. ASIA PACIFIC (APAC) CREDIT INSURANCE MARKET BREAKDOWN BY APPLICATION, 2017 & 2025 (%) 80
FIGURE 54. MIDDLE EAST & AFRICA (MEA) CREDIT INSURANCE MARKET BREAKDOWN BY KEY COUNTRIES, 2017 & 2025(%) 82
FIGURE 55. SAUDI ARABIA CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 83
FIGURE 56. UAE CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 84
FIGURE 57. SOUTH AFRICA CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 85
FIGURE 58. MIDDLE EAST & AFRICA (MEA) CREDIT INSURANCE MARKET BREAKDOWN BY COMPONENT, 2017 & 2025 (%) 86
FIGURE 59. MIDDLE EAST & AFRICA (MEA) CREDIT INSURANCE MARKET BREAKDOWN BY ENTERPRISE SIZE, 2017 & 2025 (%) 87
FIGURE 60. MIDDLE EAST & AFRICA (MEA) CREDIT INSURANCE MARKET BREAKDOWN BY APPLICATION, 2017 & 2025 (%) 88
FIGURE 61. SOUTH AMERICA (SAM) CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 90
FIGURE 62. SOUTH AMERICA (SAM) CREDIT INSURANCE MARKET BREAKDOWN BY KEY COUNTRIES, 2017 & 2025(%) 90
FIGURE 63. BRAZIL CREDIT INSURANCE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 91
FIGURE 64. SOUTH AMERICA (SAM) CREDIT INSURANCE MARKET BREAKDOWN BY COMPONENT, 2017 & 2025 (%) 92
FIGURE 65. SOUTH AMERICA (SAM) CREDIT INSURANCE MARKET BREAKDOWN BY ENTERPRISE SIZE, 2017 & 2025 (%) 93
FIGURE 66. SOUTH AMERICA (SAM) CREDIT INSURANCE MARKET BREAKDOWN BY APPLICATION, 2017 & 2025 (%) 94
The List of Companies
1. Euler Hermes
2. Atradius N.V.
3. Coface SA
4. American Internation Group, Inc.
5. Credendo
6. QBE Insurance Group Ltd.
7. Zurich Insurance Group
8. China Export & Credit Insurance Corporation
9. CESCE
10. Export Development Canada
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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