Logistics Insurance Market is expected to Grow with a CAGR of 4.52% through 2030

The logistics insurance market is driven by the growing demand for secure transportation, increased global trade, regulatory requirements, technological advancements in tracking, and the need to mitigate risks associated with supply chain disruptions through the forecast period.

According to TechSci Research report, “Logistics Insurance Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030F”, the Global Logistics Insurance Market was valued at USD 60.89 billion in 2024 and is expected to reach USD 80.10 billion by 2030 with a CAGR of 4.52% during the forecast period.  The logistics insurance market is witnessing a profound transformation driven by technological advancements, particularly in areas such as artificial intelligence (AI), blockchain, and the Internet of Things (IoT). Insurance providers are increasingly adopting AI for predictive analytics, enabling better risk assessment and fraud detection. AI-driven algorithms analyze historical data to identify potential risks and recommend appropriate coverage, which is particularly beneficial for the logistics sector's complex supply chains. Blockchain technology is another game-changer, offering unparalleled transparency and security. By creating immutable records of transactions and claims, blockchain ensures trust between logistics companies and insurers. Smart contracts, a feature of blockchain, automate claim settlements, reducing processing time and enhancing efficiency. IoT is also playing a critical role, as devices like GPS trackers and sensors provide real-time data on shipments. These devices monitor temperature, humidity, and location, allowing insurers to track goods throughout their journey and provide coverage for specific risks, such as spoilage in perishable goods. Moreover, digital platforms are revolutionizing the customer experience by simplifying policy purchasing and claims processes. Online portals and mobile apps allow logistics companies to compare policies, obtain quotes, and file claims effortlessly, making insurance more accessible. These technological integrations not only streamline operations but also enable insurers to tailor products to the specific needs of the logistics sector, fostering a more customer-centric approach. Consequently, the adoption of advanced technologies is not just a trend but a necessity for stakeholders in the logistics insurance market aiming to stay competitive and address evolving challenges effectively.

Browse over XX Market data Figures spread through XX Pages and an in-depth TOC on the "Global Logistics Insurance Market.” 

Based on the Industry, Transportation segment held the largest Market share in 2024. The logistics insurance market within the transportation segment is being driven by several critical factors that reflect the growing complexity and risk exposure in the global transportation industry. The rapid expansion of e-commerce and online retail is generating a surge in demand for transportation services, which, in turn, increases the need for comprehensive insurance coverage to safeguard against potential risks such as cargo theft, damage, or delays. The growth of global supply chains and international trade further intensifies this demand, as goods are transported across longer distances and through multiple transit points, heightening the risk of incidents that may disrupt operations. Additionally, the increased frequency and severity of natural disasters and extreme weather events, such as hurricanes, floods, and wildfires, are making transportation routes more volatile, creating a need for logistics insurance that can cover weather-related damages. Furthermore, technological advancements, such as the integration of Internet of Things (IoT) devices, AI-based tracking systems, and big data analytics, are enhancing the ability of logistics companies to monitor and manage transportation risks in real-time, prompting insurers to develop more tailored and flexible insurance products that cater to these new technological capabilities. Additionally, the growing awareness of cyber threats in the logistics sector, including data breaches and cyber-attacks that could compromise cargo or disrupt supply chains, is contributing to an increased demand for cyber insurance as part of logistics coverage. Regulatory changes are also shaping the logistics insurance market, with governments across the globe implementing more stringent transportation safety regulations and environmental laws, which require companies to adopt more comprehensive insurance plans to remain compliant. The rising number of accidents and claims in the transportation sector is pushing insurers to design products that cater to specific needs, such as protection against driver errors, vehicle malfunctions, or regulatory fines. Finally, as transportation companies continue to innovate with new business models, such as the rise of autonomous vehicles and drones, the logistics insurance market must adapt to cover emerging risks associated with these technologies. In essence, the transportation segment of the logistics insurance market is experiencing a transformation driven by technological innovations, the expansion of global trade, heightened risk factors, regulatory requirements, and a growing need for customized and proactive risk management solutions.

Based on region, Asia Pacific is the fastest growing region in Logistics Insurance Market. Asia Pacific is experiencing rapid growth in the logistics insurance market, driven by the region's increasing role as a global trade hub and its expanding e-commerce sector. The region's strategic importance in international supply chains, coupled with its rapid economic development, has led to a significant increase in logistics activities. As businesses in countries like China, India, and Southeast Asia continue to scale their operations, there is a growing demand for comprehensive insurance solutions to protect against risks such as cargo theft, transit delays, and natural disasters. The rise of digitalization in logistics, including the use of technologies like IoT and blockchain, has further fueled the need for specialized insurance products in Asia Pacific. These innovations not only improve operational efficiency but also enhance risk management, prompting insurers to offer more tailored coverage options. As the logistics sector continues to evolve with the growth of infrastructure, transportation, and global trade, the demand for logistics insurance in Asia Pacific is expected to remain strong, making it the fastest growing region in the market.

Major companies operating in the Global Logistics Insurance Market are:

• Specialty Program Group LLC
• American International Group, Inc.
• Allianz SE
• Schenker AG
• United Parcel Service, Inc.,
• Thomas Miller & Co Ltd.
• AsstrA-Associated Traffic AG
• HDI Global SE

Download Free Sample Report

Customers can also request 10% free customization in this report.

“The Global Logistics Insurance Market is expected to rise in the upcoming years and register a significant CAGR during the forecast period. The logistics insurance market is poised for substantial growth, fueled by the expansion of global trade, e-commerce, and supply chain networks. The escalating need for effective risk management against cargo damage, theft, and natural catastrophes is driving demand for comprehensive insurance offerings. Technological advancements, including IoT and data analytics, enable insurers to deliver more customized and dynamic policies, enhancing real-time coverage. Furthermore, the increasing complexity of international logistics and cross-border shipping necessitates tailored insurance solutions. As businesses seek to safeguard their operations, the logistics insurance market is well-positioned to capitalize on these emerging opportunities. Therefore, the Market of Logistics Insurance is expected to boost in the upcoming years.,” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.

“Logistics Insurance Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented, By Coverage Type (Cargo Insurance, Marine Services Liability), By Industry (Transportation, Marine), By Shipment Mode (Road Transportation, Air Transportation, Ocean Transportation, Rail Transportation, Multimodal Transportation), By Region, By Competition, 2020-2030F”, has evaluated the future growth potential of Global Logistics Insurance Market and provides statistics & information on the Market size, structure, and future Market growth. The report intends to provide cutting-edge Market intelligence and help decision-makers make sound investment decisions., The report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Logistics Insurance Market.

Contact

Techsci Research LLC

420 Lexington Avenue,

Suite 300, New York,

United States- 10170                   

Tel: +13322586602

Email: [email protected]

Website: www.techsciresearch.com