2024 Technology & Life Sciences Benchmark Report

Jun 27, 2024

Technology and life science are experiencing significant growth and artificial intelligence is a large contributing factor.

Technology is a $5 trillion business but that will expand in the coming years as artificial intelligence (AI) is expected to pump another $15.7 trillion into the international economy by 2030, according to the 2024 Assurex Global Partnership Technology and Life Science Benchmark report. The report is derived from a survey of 284 businesses generating an aggregate $3.6 billion in sales.  

The technology industry is already booming and is expected to grow. About 75 million people now work in this $5 trillion arena, which is getting harder to define in the insurance industry as new technologies arise.

The life sciences market has served as a bridge between technology and healthcare. It also has expanded to include nutraceuticals, companies specializing in environmental research, and life sciences service companies.

Overall, the data gained from this survey met Assurex’s general expectations.

However, there were some unexpected results.

Overall, the technology and life sciences sectors are poised for growth.

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