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Taiwan Online Automotive Insurance to Us$ 751.5 Mn by 2030
8 months ago
4 min read

Taiwan Online Automotive Insurance to Us$ 751.5 Mn by 2030

Astute Analytica has released new research on the Taiwan Online Automotive Insurance Market that provides a thorough explanation of a number of market analysis techniques, including SWOT analysis and five-point analysis. The market report also includes an in-depth analysis of several growth plans and initiatives to broaden the business’s horizons on a regional and international scale. It gives readers a thorough explanation of all the market difficulties and development prospects related to the Taiwan Online Automotive Insurance Market.

Along with significant data and other pertinent information, the study evaluates the competitive landscape and global market growth trend based on the business overview and helps businesses and investment organizations better grasp the market’s growth characteristics.

The Taiwan Online Automotive Insurance Market is expected to reach a valuation of US$ 751.5 Mn by 2030 from US$ 482.6 Mn in 2022, at an estimated CAGR of 5.7% during the forecast period, 2023-2030.

Request to download this strategic report here: https://www.astuteanalytica.com/request-sample/taiwan-online-automotive-insurance-market

Regional Analysis:

The United States garnered the highest share in the consumer goods sector, followed by China, India, Indonesia, Brazil, Mexico, and other developed and developing countries, and are forecast to have substantial growth over the upcoming years.

In 2020, China held dominance in the online retail sales sector. As the contactless economy grew in response to the COVID-19 epidemic, the country’s e-commerce advantage grew further as digital services like remote education and healthcare became more accessible and new sales channels became essential. The rise in living conditions among Chinese consumers led to a shift toward development-oriented consumption rather than necessity-based purchasing. As a result, life services have swiftly become popular among consumers.

COVID-19 Impact

The COVID-19 pandemic changed how people buy and wreaked havoc on the market. Cleaning supplies, shelf-stable food, beverages, and toilet paper became scarce in certain nations. Furthermore, the function of sustainability is becoming increasingly important in the consumer goods sector; there is a growing desire for more sustainable and ethically manufactured products across the board.

However, the industry’s fundamentals and stock market performance have deteriorated. In terms of economic profit contribution, several players began to pull ahead of the pack. The US market before COVID-19, for example, is instructive. In the United States, specific brands (with more than $750 million in revenue) lost volume at a pace of 1.5%. Small brands increased by 1.7%, while private labels increased by 4.3%.

Major Key Players in the Taiwan Online Automotive Insurance Market are:

  • BIDV Insurance Corporation

  • Cathay Century Insurance Co Ltd

  • Chung Kuo.

  • Fubon Insurance Co Ltd.

  • Hotai Motor

  • Mingtai Fire & Marine Insurance Co. Ltd.

  • Shin Kong Fire & Marine Insurance Co. Ltd.

  • South China Insurance Co Ltd.

  • Taian Insurance Co. Ltd.

  • Tokio Marine Newa

  • Union Insurance

  • Other Prominent Players

Request to download this strategic report here: https://www.astuteanalytica.com/request-sample/taiwan-online-automotive-insurance-market

Segmental Analysis:

The segmentation section of the report focuses on every segment, along with highlighting the ones having a strong impact on the Taiwan Online Automotive Insurance Market. The segmentation served as the foundation for finding businesses and examining their financial standings, product portfolios, and future growth potential. The second step entailed evaluating the core competencies and market shares of top firms in order to predict the degree of competition. A bottom-up method was used to assess the market’s overall size.

Segmentation Overview

By Risk Coverage: 

  • Liability Coverage

  • Collision Coverage

  • Personal Injury Coverage

  • Uninsured Motorist Coverage

  • Comprehensive Coverage

  • Add-ons

  • Road-side assistance

  • Engine replacement

  • Nil Depreciation

By Coverage Term: 

  • One year

  • 3 Years

  • 5 Years

  • More than 5 years

By Distribution Channel: 

  • Bank

  • Brokers/Others

  • Insurance Company Webpages

By Vehicle Type: 

  • ICE Vehicles

  • Petrol

  • Diesel

  • Other

  • Electric Vehicles

  • Hybrid

By Vehicle Application: 

  • Personal

  • 2 Wheelers

  • 4 Wheelers

  • Commercial

  • Passenger

  • Heavy Vehicles

  • Off-road Vehicles

By Vehicle Ownership: 

  • New Vehicles

  • Used Vehicles

By End User: 

  • Individuals

  • Businesses

  • Enterprise

  • Logistics

  • Retail

  • Education

  • Energy & Mining

  • Construction

  • Others

Request full report here: https://www.astuteanalytica.com/request-sample/taiwan-online-automotive-insurance-market

About Astute Analytica:

Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.

They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.

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