Increasing demand for IoT devices in the insurance industry to enhance customer experience and growing demand for value-added service is driving Internet of Things (IoT) insurance market growth.
The global Internet of Things (IoT) insurance market is expected to reach a market size of USD 775.65 Billion by 2028 and register a high revenue CAGR, according to latest analysis by Emergen Research. Increasing demand for IoT devices in the insurance industry to enhance customer experience is the key factor driving the global Internet of Things (IoT) insurance market growth during the forecast period. Besides, growing demand for value-added services is expected to propel global Internet of Things (IoT) insurance market growth during the forecast period. Furthermore, increasing adoption of Internet of Things (IoT) devices in developing and developed countries is expected to augment global Internet of Things (IoT) insurance market growth going ahead.
The global Internet of Things (IoT) Insurance market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures. The global Internet of Things (IoT) Insurance market is highly consolidated due to the presence of a large number of companies across this industry.
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The global Internet of Things (IoT) Insurance market study covers the current COVID-19 scenario that has turned the global business sphere upside down. The coronavirus has resulted in a major economic downturn worldwide, while also adversely impacting the growth of this industrial sector. The pandemic has brought about drastic changes in market conditions.
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Key market participants include Google LLC, Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, Cisco Systems, Inc., SAP SE, Accenture PLC, Concirrus Ltd., Wipro Ltd., and Capgemini SE.
These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector.
The global Internet of Things (IoT) Insurance market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.
Unfolding the prime factors prompting global market growth:
- The study offers an in-depth analysis of the product outlook, which depicts the latest production growth trends and profit valuation. It further fragments the global Internet of Things (IoT) Insurance market into a broad product spectrum.
- The study covers essential data related to these products’ application landscape, the demand for and market share held by each application type, and their growth rate analysis over the estimated period.
- A detailed description of the distribution channels, including distributors, producers, and buyers, is one of the report’s key market highlights. To gain useful market insights, grab a sample copy of this report:
The latest report presents the vital indicators of market growth, including an effective value chain analysis, Porter’s Five Forces Analysis, and CAGR growth over the forecast period. The significant data and information gathered by our analysts are likely to help readers have a clear comprehension of the qualitative and quantitative growth parameters of the global Internet of Things (IoT) Insurance market.
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The global Internet of Things (IoT) Insurance market report estimates revenue growth on global, regional, and country levels, depicting the industry trends from 2020 to 2027 in each segment and sub-segment of the market. However, the global market is fragmented on the basis of region, product type, and application.
- Insurance Type Outlook (Revenue, USD Billion; 2024–2028)
- Pension Insurance
- Warranty Insurance
- Cyber Insurance
- Life Insurance
- Property & Casualty Insurance
- Health Insurance
- Others
- Application Outlook (Revenue, USD Billion; 2024–2028)
- Connected Home
- Connected Car
- Connected Health
- Commercial Lines
- Others
- End-use Outlook (Revenue, USD Billion; 2024–2028)
- Automotive
- Retail
- Industrial
- Residential
- Healthcare
- Logistics
- Others
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Global Internet of Things (IoT) Insurance Market Report – Table of Contents:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2028
Chapter 3. Key Insights
Chapter 4. Internet of Things (IoT) Insurance Market Segmentation & Impact Analysis
4.1. Internet of Things (IoT) Insurance Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Increasing demand for IoT devices in insurance industry to improve customer experience
4.2.2.2. Growing demand for value added services
4.2.2.3. Rising improvements in insurance model
4.2.2.4. Increasing use of IoT to decrease premiums and risk-related expenses
4.2.3. Market restraints analysis
4.2.3.1. Data management issues
4.2.3.2. Concern regarding data security
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Internet of Things (IoT) Insurance Market By Insurance Type Insights & Trends Revenue (USD Billion)
5.1. Insurance Type Dynamics & Market Share, 2020 & 2028
5.1.1. Pension Insurance
5.1.2. Warranty Insurance
5.1.3. Cyber Insurance
5.1.4. Life Insurance
5.1.5. Property & Casualty Insurance
5.1.6. Health Insurance
5.1.7. Other
Chapter 6. Internet of Things (IoT) Insurance Market By Application Insights & Trends Revenue (USD Billion)
6.1. Application Dynamics & Market Share, 2020 & 2028
6.1.1. Connected Home
6.1.2. Connected Car
6.1.3. Connected Health
6.1.4. Commercial Lines
6.1.5. Others
To be continue..!
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