Report Code: A14930 | Pages: NA | Mar 2023 | 1056 Views | ||
Author(s) : NA | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Factory And Warehouse Insurance Market
Request Now !Factory and warehouse insurance policies cover monetary loss caused by damage to goods, machinery, or buildings both inside and outside the premises. Factory and warehouse insurance policies are specifically designed to protect all contents and stocks against a variety of risks such as fire, implosion, explosion, and natural calamities such as storms, floods, and earthquakes. Additionally, these insurance coverage options include theft & burglary, electronic & mechanical breakdown, money insurance, and risk laptop insurance, among others. Furthermore, the online issuance of factory and warehouse insurance usually requires limited paperwork and requires serial numbers for portable equipment on a unit-by-unit basis. Therefore, the wider array of risks, customized cover, multiple location coverage, and easy documentation are expected to foster the growth of this market in the near future.
The global factory and warehouse insurance market share is segmented into type, enterprise size, industry vertical, and region. Based on type, the market is further segmented into floating policy, valued policy, specific policy, replacement & reinstatement policy, and others. In terms of enterprise size, the market is large enterprises and small & medium-sized enterprises. Based on industry vertical, the market is segmented into retail and e-commerce, energy & utilities, fmcg, manufacturing, and others. Based on region, the global market is divided across North America (U.S. and Canada), Europe (Germany, UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and Middle East & Africa.
Key players of the factory and warehouse insurance market trends analyzed in the research include GreenLife Insurance Broking Pvt. Ltd, Commercial One Insurance Service, Â WEBER LOGISTICS, AXA SA, The Hartford, SecureNow
Insurance Broker Pvt. Ltd, Bajaj Allianz Life Insurance. They have adopted various strategies including new product launches, collaborations, partnerships, mergers & acquisitions, joint ventures, agreements, and others to gain a stronghold and international presence across the world.
COVID-19 Scenario Analysis
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The adoption of autonomous vehicles and drones and the growing demand for refrigerated warehousing are driving the growth of the market. However, the security threat and high capital investment are expected to hamper the growth.
Contrarily, advancements in robotics are becoming one of the major factors expected to create immense opportunities in the upcoming years. Â
The factory and warehouse insurance market trends are as follows:
Adoption of Autonomous Vehicles and Drones:
In automated logistics processes, autonomous vehicles and drones play a critical role. For instance, Google and Tesla have made significant advancements in driverless vehicle technology. Large autonomous trucks will assist in the delivery of goods to distribution centers in the future of logistics. Moreover, the unloading of packages will be handled by autonomous forklifts using a network of conveyor belts and robot arms. Tesla, a leading electric vehicle manufacturer, is taking steps to develop fully autonomous heavy-duty freight vehicles. Therefore, to save financial loss because of damages, it is expected to raise demand for the factory and warehouse insurance market soon.
Advancements in Robotics:
Robots are used to move products from one location to another in a timely and efficient manner. It eliminates the need for manual intervention in tedious, dull, and dangerous tasks associated with various processes such as warehousing and material handling. One of the primary concerns of companies in the manufacturing sector is rising labor costs. Organizations are implementing robotic technologies to automate logistic processes, reducing manual labor and lowering operational costs. Robotics technology advancements have aided in the development of automated vehicles used in warehouses. The workload of logistics personnel can be reduced by using advanced robots that are programmed to perform repetitive and physically demanding tasks.
Market Scope and Structure Analysis:
Report Metric | Details |
 Market size available for years |  2020–2030 |
 Base year considered |  2020 |
 Forecast period |  2021–2030 |
 Forecast units |  Value ($) |
 Segments covered |  Type, Enterprise Size, Industry Vertical, And Region |
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Key Benefits of the Report:
Questions Answered in the Factory and Warehouse Insurance Market Research Report:Â Â Â Â Â Â Â Â Â Â Â Â
Factory and Warehouse Insurance Market Report Highlights
Aspects | Details |
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By Type |
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By Enterprise Size |
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By Vertical |
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By Region |
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Key Market Players | GreenLife Insurance Broking Pvt. Ltd, Commercial One Insurance Service,, WEBER LOGISTICS,, AXA SA,, The Hartford,, SecureNow Insurance Broker Pvt. Ltd,, Bajaj Allianz Life Insurance,, Nationwide,, American International Group,, Marsh LLC |
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