Actuarial Services Market
The market for Actuarial Services was estimated at $15.7 billion in 2024; it is anticipated to increase to $30.0 billion by 2030, with projections indicating growth to around $51.5 billion by 2035.
Global Actuarial Services Market Outlook
Revenue, 2024
Forecast, 2034
CAGR, 2025 - 2034
The Actuarial Services industry revenue is expected to be around $17.5 billion in 2025 and expected to showcase growth with 11.4% CAGR between 2025 and 2034. The significant growth in market size highlights the growing importance and relevance of Actuarial Services in today's changing world. A variety of factors contribute to this expansion such as a rising need for risk management solutions and stricter regulations in the financial industry alongside the emergence of advanced technologies. Moreover the increasing complexity of products and the necessity, for precise forecasting and financial planning continuously boost the importance of this market. The increasing incorporation of Big Data and AI tools, in processes also indicates a bright future where Actuarial Services will remain essential in shaping business strategies and decisions.
Actuarial services cover a range of activities aimed at evaluating and managing financial risks such as setting prices for products and assessing reserves to ensure financial stability and conducting strategic financial planning sessions across various sectors including insurance industries and financial services with the increasing interest, from consulting firms contributing to the dynamic market landscape.
Market Key Insights
- The Actuarial Services market is projected to grow from $15.7 billion in 2024 to $46.2 billion in 2034. This represents a CAGR of 11.4%, reflecting rising demand across Risk Assessment and Management, Insurance Sector and Pension Plans and Retirement Benefits.
- Mercer, Willis Towers Watson, Aon are among the leading players in this market, shaping its competitive landscape.
- U.S. and UK are the top markets within the Actuarial Services market and are expected to observe the growth CAGR of 8.3% to 12.0% between 2024 and 2030.
- Emerging markets including India, Nigeria and Brazil are expected to observe highest growth with CAGR ranging between 10.9% to 14.3%.
- Transition like Technological Advancements in Actuarial Services is expected to add $1 billion to the Actuarial Services market growth by 2030.
- The Actuarial Services market is set to add $30.5 billion between 2024 and 2034, with service providers targeting Pension & Investment Consulting Type projected to gain a larger market share.
- With Increasing demand for risk management, and Regulatory compliance need, Actuarial Services market to expand 194% between 2024 and 2034.
