Published Date: 30-Jun-2022
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According to a new report, published by KBV research, The Global Claims Processing Software Market size is expected to reach $59 billion by 2028, rising at a market growth of 8.5% CAGR during the forecast period.
The Services segment has shown growth rate of 11.2% during (2022 - 2028). The rising growth of the segment is attributed to the fact that claims processing services allow businesses to handle any volume of transactions with ease. Claim processing service providers assist healthcare practices in reducing claim processing time by efficiently balancing spikes in processing requirements.
The Large Enterprises segment is leading the Global Claims Processing Software Market by Enterprise Size in 2021, thereby, achieving a market value of $42.09 billion by 2028. The increasing growth of the segment is owing to the massive amount of workloads large enterprises have to deal with. Claims processing software easily addresses this considerable number of claims, streamlining the operation for these enterprises.
The Agents & Brokers segment is showcasing a CAGR of 9.8% during (2022 - 2028). This is due to the fact that both independent, as well as enterprise insurance businesses, employ insurance claims processing software to assist agents and brokers in managing customer claims. It significantly streamlines a majority of their workflows and operations with the integration of automation.
The North America market dominated the Global Claims Processing Software Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $26.5 billion by 2028. The Europe market is estimated to witness a CAGR of 8.3% during (2022 - 2028). Additionally, The Asia Pacific market would experience a CAGR of 9.5% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/claims-processing-software-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Duck Creek Technologies, Inc., FINEOS Corporation Holdings plc, Hyland Software, Inc., Hawksoft, Inc., HIPAAsuite, Newgen Software Technologies Limited, Pegasystems, Inc., Quick Silver Systems, Inc., Ventiv Technology, and A1 Enterprise, Inc.
By Enterprise Size
By End User
Unique Offerings from KBV Research
North America Claims Processing Software Market Size & Opportunities 2022-2028
Europe Claims Processing Software Market & Growth Forecast 2022-2028
Asia Pacific Claims Processing Software Market Share & Industry Outlook to 2028
LAMEA Claims Processing Software Market Growth, Trends & Forecasts 2022-2028