PUBLISHER: KBV Research | PRODUCT CODE: 1276745
PUBLISHER: KBV Research | PRODUCT CODE: 1276745
LAMEA Blockchain in Insurance Market Size, Share & Industry Trends Analysis Report By Enterprise Size (Large Enterprises and Small & Medium-sized Enterprises), By Component, By Application, By Country and Growth Forecast, 2023 - 2029
The Latin America, Middle East and Africa Blockchain in Insurance Market would witness market growth of 59.8% CAGR during the forecast period (2023-2029).
Most health records are stored in single-provider systems. Providers could decide whether to publish data to a common blockchain or continuously upload data to the blockchain using blockchain when a patient event happens. Patients' own data may also be contributed to the blockchain. Smart contracts (decentralized software that automatically executes operations based on blockchain activity) would conform data entering the blockchain to already agreed-upon data standards, resulting in understandable and consistent data from all sources.
Market growth is being driven by the increase in fraudulent insurance claims as well as the consumer need for open and reliable procedures. Additionally, the market is expected to grow due to increased adoption of the Internet of Things (IoT) and lower ownership costs. Blockchain technology makes it possible to make real-time payments against assets, significantly lowering costs. The usage of blockchain technology for transactions is one of the newest trends.
The industry for health insurance in Saudi Arabia is primarily driven by the rising population and the nation's economic diversification. Expats from all over the world are moving to the nation due to the expanding industrialization and employment opportunities, which are fueling the expansion of the healthcare and health insurance industries. In Saudi Arabia, health insurance is designed to lessen the financial strain of having to pay astronomical medical expenditures due to an unplanned illness or injury. The initiatives by the government to increase the adoption of health insurance in the region will provide growth to the usage of blockchain in the insurance sector as it can automate and streamline various processes while also decreasing fraud incidences, boosting the market expansion in the region.
The Brazil market dominated the LAMEA Blockchain in Insurance Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $227.6 Million by 2029. The Argentina market is experiencing a CAGR of 60.6% during (2023 - 2029). Additionally, The UAE market would display a CAGR of 59.3% during (2023 - 2029).
Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium-sized Enterprises. Based on Component, the market is segmented into Solution and Services. Based on Application, the market is segmented into Identity Management & Fraud Detection, Claims Management, Payments, GRC Management and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amazon Web Services, Inc. (Amazon.com, Inc.), Microsoft Corporation, Oracle Corporation, IBM Corporation, RecordsKeeper, Symbiont, Xceedance, Auxesis Services & Technologies (P) Ltd., Cornerstone Insurance Brokers Ltd. (SafeShare) and ConsenSys Software Inc.
Scope of the Study
Market Segments covered in the Report:
By Enterprise Size
- Large Enterprises
- Small & Medium-sized Enterprises
By Component
- Solution
- Services
By Application
- Identity Management & Fraud Detection
- Claims Management
- Payments
- GRC Management
- Others
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Companies Profiled
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- Microsoft Corporation
- Oracle Corporation
- IBM Corporation
- RecordsKeeper
- Symbiont
- Xceedance
- Auxesis Services & Technologies (P) Ltd.
- Cornerstone Insurance Brokers Ltd. (SafeShare)
- ConsenSys Software Inc.
Unique Offerings from KBV Research
- Exhaustive coverage
- Highest number of market tables and figures
- Subscription based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 LAMEA Blockchain in Insurance Market, by Enterprise Size
- 1.4.2 LAMEA Blockchain in Insurance Market, by Component
- 1.4.3 LAMEA Blockchain in Insurance Market, by Application
- 1.4.4 LAMEA Blockchain in Insurance Market, by Country
- 1.5 Methodology for the research
Chapter 2. Market Overview
- 2.1 Introduction
- 2.1.1 Overview
- 2.1.1.1 Market composition & scenario
- 2.1.1 Overview
- 2.2 Key Factors Impacting the Market
- 2.2.1 Market Drivers
- 2.2.2 Market Restraints
Chapter 3. LAMEA Blockchain in Insurance Market by Enterprise Size
- 3.1 LAMEA Large Enterprises Market by Country
- 3.2 LAMEA Small & Medium-sized Enterprises Market by Country
Chapter 4. LAMEA Blockchain in Insurance Market by Component
- 4.1 LAMEA Solution Market by Country
- 4.2 LAMEA Services Market by Country
Chapter 5. LAMEA Blockchain in Insurance Market by Application
- 5.1 LAMEA Identity Management & Fraud Detection Market by Country
- 5.2 LAMEA Claims Management Market by Country
- 5.3 LAMEA Payments Market by Country
- 5.4 LAMEA GRC Management Market by Country
- 5.5 LAMEA Others Market by Country
Chapter 6. LAMEA Blockchain in Insurance Market by Country
- 6.1 Brazil Blockchain in Insurance Market
- 6.1.1 Brazil Blockchain in Insurance Market by Enterprise Size
- 6.1.2 Brazil Blockchain in Insurance Market by Component
- 6.1.3 Brazil Blockchain in Insurance Market by Application
- 6.2 Argentina Blockchain in Insurance Market
- 6.2.1 Argentina Blockchain in Insurance Market by Enterprise Size
- 6.2.2 Argentina Blockchain in Insurance Market by Component
- 6.2.3 Argentina Blockchain in Insurance Market by Application
- 6.3 UAE Blockchain in Insurance Market
- 6.3.1 UAE Blockchain in Insurance Market by Enterprise Size
- 6.3.2 UAE Blockchain in Insurance Market by Component
- 6.3.3 UAE Blockchain in Insurance Market by Application
- 6.4 Saudi Arabia Blockchain in Insurance Market
- 6.4.1 Saudi Arabia Blockchain in Insurance Market by Enterprise Size
- 6.4.2 Saudi Arabia Blockchain in Insurance Market by Component
- 6.4.3 Saudi Arabia Blockchain in Insurance Market by Application
- 6.5 South Africa Blockchain in Insurance Market
- 6.5.1 South Africa Blockchain in Insurance Market by Enterprise Size
- 6.5.2 South Africa Blockchain in Insurance Market by Component
- 6.5.3 South Africa Blockchain in Insurance Market by Application
- 6.6 Nigeria Blockchain in Insurance Market
- 6.6.1 Nigeria Blockchain in Insurance Market by Enterprise Size
- 6.6.2 Nigeria Blockchain in Insurance Market by Component
- 6.6.3 Nigeria Blockchain in Insurance Market by Application
- 6.7 Rest of LAMEA Blockchain in Insurance Market
- 6.7.1 Rest of LAMEA Blockchain in Insurance Market by Enterprise Size
- 6.7.2 Rest of LAMEA Blockchain in Insurance Market by Component
- 6.7.3 Rest of LAMEA Blockchain in Insurance Market by Application
Chapter 7. Company Profiles
- 7.1 Amazon Web Services, Inc. (Amazon.com, Inc.)
- 7.1.1 Company Overview
- 7.1.2 Financial Analysis
- 7.1.3 Segmental Analysis
- 7.1.4 Recent strategies and developments:
- 7.1.4.1 Product Launches and Product Expansions:
- 7.1.5 SWOT Analysis
- 7.2 Microsoft Corporation
- 7.2.1 Company Overview
- 7.2.2 Financial Analysis
- 7.2.3 Segmental and Regional Analysis
- 7.2.4 Research & Development Expenses
- 7.2.5 Recent strategies and developments:
- 7.2.5.1 Partnerships, Collaborations, and Agreements:
- 7.2.6 SWOT Analysis
- 7.3 Oracle Corporation
- 7.3.1 Company Overview
- 7.3.2 Financial Analysis
- 7.3.3 Segmental and Regional Analysis
- 7.3.4 Research & Development Expense
- 7.3.5 Recent strategies and developments:
- 7.3.5.1 Partnerships, Collaborations, and Agreements:
- 7.3.6 SWOT Analysis
- 7.4 IBM Corporation
- 7.4.1 Company Overview
- 7.4.2 Financial Analysis
- 7.4.3 Regional & Segmental Analysis
- 7.4.4 Research & Development Expenses
- 7.4.5 SWOT Analysis
- 7.5 RecordsKeeper
- 7.5.1 Company Overview
- 7.6 Symbiont
- 7.6.1 Company Overview
- 7.7 Xceedance
- 7.7.1 Company Overview
- 7.7.2 Recent strategies and developments:
- 7.7.2.1 Product Launches and Product Expansions:
- 7.8 Auxesis Services & Technologies (P) Ltd.
- 7.8.1 Company Overview
- 7.9 Cornerstone Insurance Brokers Ltd. (SafeShare)
- 7.9.1 Company Overview
- 7.10. ConsenSys Software Inc.
- 7.10.1 Company Overview
- 7.10.2 Recent strategies and developments:
- 7.10.2.1 Acquisition and Mergers:
LIST OF TABLES
- TABLE 1 LAMEA Blockchain in Insurance Market, 2019 - 2022, USD Million
- TABLE 2 LAMEA Blockchain in Insurance Market, 2023 - 2029, USD Million
- TABLE 3 LAMEA Blockchain in Insurance Market by Enterprise Size, 2019 - 2022, USD Million
- TABLE 4 LAMEA Blockchain in Insurance Market by Enterprise Size, 2023 - 2029, USD Million
- TABLE 5 LAMEA Large Enterprises Market by Country, 2019 - 2022, USD Million
- TABLE 6 LAMEA Large Enterprises Market by Country, 2023 - 2029, USD Million
- TABLE 7 LAMEA Small & Medium-sized Enterprises Market by Country, 2019 - 2022, USD Million
- TABLE 8 LAMEA Small & Medium-sized Enterprises Market by Country, 2023 - 2029, USD Million
- TABLE 9 LAMEA Blockchain in Insurance Market by Component, 2019 - 2022, USD Million
- TABLE 10 LAMEA Blockchain in Insurance Market by Component, 2023 - 2029, USD Million
- TABLE 11 LAMEA Solution Market by Country, 2019 - 2022, USD Million
- TABLE 12 LAMEA Solution Market by Country, 2023 - 2029, USD Million
- TABLE 13 LAMEA Services Market by Country, 2019 - 2022, USD Million
- TABLE 14 LAMEA Services Market by Country, 2023 - 2029, USD Million
- TABLE 15 LAMEA Blockchain in Insurance Market by Application, 2019 - 2022, USD Million
- TABLE 16 LAMEA Blockchain in Insurance Market by Application, 2023 - 2029, USD Million
- TABLE 17 LAMEA Identity Management & Fraud Detection Market by Country, 2019 - 2022, USD Million
- TABLE 18 LAMEA Identity Management & Fraud Detection Market by Country, 2023 - 2029, USD Million
- TABLE 19 LAMEA Claims Management Market by Country, 2019 - 2022, USD Million
- TABLE 20 LAMEA Claims Management Market by Country, 2023 - 2029, USD Million
- TABLE 21 LAMEA Payments Market by Country, 2019 - 2022, USD Million
- TABLE 22 LAMEA Payments Market by Country, 2023 - 2029, USD Million
- TABLE 23 LAMEA GRC Management Market by Country, 2019 - 2022, USD Million
- TABLE 24 LAMEA GRC Management Market by Country, 2023 - 2029, USD Million
- TABLE 25 LAMEA Others Market by Country, 2019 - 2022, USD Million
- TABLE 26 LAMEA Others Market by Country, 2023 - 2029, USD Million
- TABLE 27 LAMEA Blockchain in Insurance Market by Country, 2019 - 2022, USD Million
- TABLE 28 LAMEA Blockchain in Insurance Market by Country, 2023 - 2029, USD Million
- TABLE 29 Brazil Blockchain in Insurance Market, 2019 - 2022, USD Million
- TABLE 30 Brazil Blockchain in Insurance Market, 2023 - 2029, USD Million
- TABLE 31 Brazil Blockchain in Insurance Market by Enterprise Size, 2019 - 2022, USD Million
- TABLE 32 Brazil Blockchain in Insurance Market by Enterprise Size, 2023 - 2029, USD Million
- TABLE 33 Brazil Blockchain in Insurance Market by Component, 2019 - 2022, USD Million
- TABLE 34 Brazil Blockchain in Insurance Market by Component, 2023 - 2029, USD Million
- TABLE 35 Brazil Blockchain in Insurance Market by Application, 2019 - 2022, USD Million
- TABLE 36 Brazil Blockchain in Insurance Market by Application, 2023 - 2029, USD Million
- TABLE 37 Argentina Blockchain in Insurance Market, 2019 - 2022, USD Million
- TABLE 38 Argentina Blockchain in Insurance Market, 2023 - 2029, USD Million
- TABLE 39 Argentina Blockchain in Insurance Market by Enterprise Size, 2019 - 2022, USD Million
- TABLE 40 Argentina Blockchain in Insurance Market by Enterprise Size, 2023 - 2029, USD Million
- TABLE 41 Argentina Blockchain in Insurance Market by Component, 2019 - 2022, USD Million
- TABLE 42 Argentina Blockchain in Insurance Market by Component, 2023 - 2029, USD Million
- TABLE 43 Argentina Blockchain in Insurance Market by Application, 2019 - 2022, USD Million
- TABLE 44 Argentina Blockchain in Insurance Market by Application, 2023 - 2029, USD Million
- TABLE 45 UAE Blockchain in Insurance Market, 2019 - 2022, USD Million
- TABLE 46 UAE Blockchain in Insurance Market, 2023 - 2029, USD Million
- TABLE 47 UAE Blockchain in Insurance Market by Enterprise Size, 2019 - 2022, USD Million
- TABLE 48 UAE Blockchain in Insurance Market by Enterprise Size, 2023 - 2029, USD Million
- TABLE 49 UAE Blockchain in Insurance Market by Component, 2019 - 2022, USD Million
- TABLE 50 UAE Blockchain in Insurance Market by Component, 2023 - 2029, USD Million
- TABLE 51 UAE Blockchain in Insurance Market by Application, 2019 - 2022, USD Million
- TABLE 52 UAE Blockchain in Insurance Market by Application, 2023 - 2029, USD Million
- TABLE 53 Saudi Arabia Blockchain in Insurance Market, 2019 - 2022, USD Million
- TABLE 54 Saudi Arabia Blockchain in Insurance Market, 2023 - 2029, USD Million
- TABLE 55 Saudi Arabia Blockchain in Insurance Market by Enterprise Size, 2019 - 2022, USD Million
- TABLE 56 Saudi Arabia Blockchain in Insurance Market by Enterprise Size, 2023 - 2029, USD Million
- TABLE 57 Saudi Arabia Blockchain in Insurance Market by Component, 2019 - 2022, USD Million
- TABLE 58 Saudi Arabia Blockchain in Insurance Market by Component, 2023 - 2029, USD Million
- TABLE 59 Saudi Arabia Blockchain in Insurance Market by Application, 2019 - 2022, USD Million
- TABLE 60 Saudi Arabia Blockchain in Insurance Market by Application, 2023 - 2029, USD Million
- TABLE 61 South Africa Blockchain in Insurance Market, 2019 - 2022, USD Million
- TABLE 62 South Africa Blockchain in Insurance Market, 2023 - 2029, USD Million
- TABLE 63 South Africa Blockchain in Insurance Market by Enterprise Size, 2019 - 2022, USD Million
- TABLE 64 South Africa Blockchain in Insurance Market by Enterprise Size, 2023 - 2029, USD Million
- TABLE 65 South Africa Blockchain in Insurance Market by Component, 2019 - 2022, USD Million
- TABLE 66 South Africa Blockchain in Insurance Market by Component, 2023 - 2029, USD Million
- TABLE 67 South Africa Blockchain in Insurance Market by Application, 2019 - 2022, USD Million
- TABLE 68 South Africa Blockchain in Insurance Market by Application, 2023 - 2029, USD Million
- TABLE 69 Nigeria Blockchain in Insurance Market, 2019 - 2022, USD Million
- TABLE 70 Nigeria Blockchain in Insurance Market, 2023 - 2029, USD Million
- TABLE 71 Nigeria Blockchain in Insurance Market by Enterprise Size, 2019 - 2022, USD Million
- TABLE 72 Nigeria Blockchain in Insurance Market by Enterprise Size, 2023 - 2029, USD Million
- TABLE 73 Nigeria Blockchain in Insurance Market by Component, 2019 - 2022, USD Million
- TABLE 74 Nigeria Blockchain in Insurance Market by Component, 2023 - 2029, USD Million
- TABLE 75 Nigeria Blockchain in Insurance Market by Application, 2019 - 2022, USD Million
- TABLE 76 Nigeria Blockchain in Insurance Market by Application, 2023 - 2029, USD Million
- TABLE 77 Rest of LAMEA Blockchain in Insurance Market, 2019 - 2022, USD Million
- TABLE 78 Rest of LAMEA Blockchain in Insurance Market, 2023 - 2029, USD Million
- TABLE 79 Rest of LAMEA Blockchain in Insurance Market by Enterprise Size, 2019 - 2022, USD Million
- TABLE 80 Rest of LAMEA Blockchain in Insurance Market by Enterprise Size, 2023 - 2029, USD Million
- TABLE 81 Rest of LAMEA Blockchain in Insurance Market by Component, 2019 - 2022, USD Million
- TABLE 82 Rest of LAMEA Blockchain in Insurance Market by Component, 2023 - 2029, USD Million
- TABLE 83 Rest of LAMEA Blockchain in Insurance Market by Application, 2019 - 2022, USD Million
- TABLE 84 Rest of LAMEA Blockchain in Insurance Market by Application, 2023 - 2029, USD Million
- TABLE 85 Key Information - Amazon Web Services, Inc.
- TABLE 86 key information - Microsoft Corporation
- TABLE 87 Key Information - Oracle Corporation
- TABLE 88 Key information - IBM Corporation
- TABLE 89 Key Information - RecordsKeeper
- TABLE 90 Key Information - Symbiont
- TABLE 91 Key Information - Xceedance
- TABLE 92 Key Information - Auxesis Services & Technologies (P) Ltd.
- TABLE 93 Key Information - Cornerstone Insurance Brokers Ltd.
- TABLE 94 Key Information - ConsenSys Software Inc.
List of Figures
- FIG 1 Methodology for the research
- FIG 2 SWOT analysis: Amazon.com, Inc.
- FIG 3 SWOT Analysis: Microsoft Corporation
- FIG 4 SWOT analysis: Oracle Corporation
- FIG 5 Swot analysis: IBM Corporation
