globenewswire
Insurtech Global Market Report 2022: Implementation of Machine Learning, AI, and Robotic Process Automation Presents Opportunities
![](https://insurtechnews.com/uploads/news/external/EsdSZpI3.png)
The global insurtech service market is expected to grow from $8.07 billion in 2021 to $10.42 billion in 2022 at a compound annual growth rate (CAGR) of 29.2%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021.