Auto insurance market to reach $2.27t by 2032

Asia-Pacific is forecast to be the fastest-growing region through 2032.

The global auto insurance market was valued at $923.4b in 2023 and is expected to grow to $2.27t by 2032, according to a new report by Allied Market Research. 

This reflects a compound annual growth rate of 10.8% from 2024 to 2032.

The report highlights that the growth is driven by the rising number of road accidents worldwide, prompting increased demand for coverage. 

Asia-Pacific is forecast to be the fastest-growing region through 2032, supported by the adoption of cost-effective digital tools, growing data generation, and the integration of advanced technologies that improve safety and operational efficiency.