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 market report provides information related to the major manufacturers and suppliers participating in this market. This report focuses on price analysis, total revenue, product portfolio, sales and distribution channels, profit margin, and financial position. It studies the Internet of Things (IoT) Insurance Market market in terms of technology and consumers. Market dynamics are revealed across multiple geographic segments. Research analysts have studied and analyzed the report based on key segments covering Internet of Things (IoT) Insurance Market market share, revenue, growth rate, and other factors driving the growth rate of the global Internet of Things (IoT) Insurance Market.
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Covid 19 analysis:
The current COVID-19 pandemic is expected to have an effect on the growth of the Internet of Things (IoT) Insurance Market industry majorly attributable to the movement restrictions and impact on the supply and demand due to the lockdowns. The COVID-19 pandemic has affected several sectors of the global market, and the Internet of Things (IoT) Insurance Market sector is expected to feel the impact of the pandemic. The economic slowdown and dynamic changes in the demands will further affect the growth of the industry. The report covers the impact analysis of the COVID-19 pandemic on the overall Internet of Things (IoT) Insurance Market industry.
Key Highlights in Report
Increasing usage of IoT-driven devices in property & casualty insurance to mitigate insurance costs and enhance risk management are some key factors driving revenue growth of the property & casualty insurance segment, which is expected to register a significantly high CAGR of 62.7% over the forecast period.
In terms of revenue share, connected car segment is expected to lead during the forecast period due to increasing application of telematics and IoT-driven sensors in cars.
In terms of market share, the automotive segment is expected to account for the largest market share during the forecast period due to increasing adoption of IoT driven V2X-connected vehicles, which generate IoT data flow and evaluate premium costs.
Due to robust presence of international market players, including Microsoft Corporation, Google LLC, Oracle Corporation, and Cisco Systems, Inc., among others in countries in North America, the market in the region is expected to lead in terms of revenue share among other regional markets during the forecast period.
Summary of the key points of the report:
Report Overview: This section provides data and information pertaining to the key market manufacturers, their product offerings, historical and future timelines considered, and market scope. It further highlights the principal market segments, including product types, application gamut, end-user industries, and regional analysis.
Company Profiles: This component of the report depicts the company profiles of the leading players participating in the Internet of Things (IoT) Insurance Market industry. The market value & volume, production capacity, product portfolios, and other vital aspects of these players have been assessed in this report.
Key players in the market include :
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.
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Emergen Research has segmented the global Internet of Things (IoT) insurance market on the basis of insurance type, application, end-use, and region.
Insurance Type Outlook (Revenue, USD Billion; 2021–2028)
Property & Casualty Insurance
Application Outlook (Revenue, USD Billion; 2021–2028)
End-use Outlook (Revenue, USD Billion; 2021–2028)
Comprehensive Regional Analysis Covers the Following Regions:
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The global Internet of Things (IoT) Insurance Market report studies the worldwide market consumption rate in terms of value and volume.
It identifies the various sub-segments of the market structure.
It proffers information regarding the leading global manufacturers in this industry, describing their Internet of Things (IoT) Insurance Market value & share, sales volume, competitive analysis, SWOT analysis, and development strategies adopted during the forecast timeline.
The report describes the key industry players, with respect to their individual growth trends, future prospects, and contribution to the global market, and explains the factors related to their market growth potential, drivers, opportunities, threats, and industry-specific challenges.
Furthermore, the report underpins the strategic developments occurring in the global Internet of Things (IoT) Insurance Market such as expansions, mergers & acquisitions, agreements, as well as new product launches.
Key questions addressed in the report:
What is the projected growth rate likely to be witnessed by each market region?
Which of the leading Internet of Things (IoT) Insurance Market regions accounts for the maximum market share over the forecast years?
What sales estimates every region is expected to hold in the Internet of Things (IoT) Insurance Market in the near future?
What is each regional segment’s current valuation?
What are the estimated remunerations of these regions over the forecast timeline?
Table of Content
Chapter 1. Methodology & Sources
Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Internet of Things (IoT) Insurance Market Segmentation & Impact Analysis
4.1. Internet of Things (IoT) Insurance Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
126.96.36.199. Growing emphasis on homeland security
188.8.131.52. Asymmetric warfare and interpersonal relationships among countries
184.108.40.206. Increasing adoption of the target drones by military bodies
4.2.3. Market restraints analysis
220.127.116.11. Regulatory hurdles & higher cost associated to it
18.104.22.168. Inefficient research methodologies
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
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