Corporate Travel Insurance Market Size

Corporate Travel Insurance Market size was valued at USD 4.79 Billion in 2023 and is projected to exceed USD 49.59 Billion by the end of 2036, registering over 19.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of corporate travel insurance is evaluated at USD 5.64 Billion. The growth of the market is primarily attributed to the notable increase in expenditure on travel as well as the rising adoption of travel insurance across the globe. For instance, in 2021, the worldwide business travel expenditure reached more than USD 741 billion.

The increasing tendency of corporate employees to travel for official meetings, and short trip traveling by small business entrepreneurs have been increasing, which is leading the trend of corporate travel insurance in the forecast period.