Report overview
The use of interconnected devices with real time data collaboration within the insurance industry is known as Internet of Things (IoT) insurance. The IoT enabled devices help insurer provide data, which can be used to manage claims, reduce risk, and identify various frauds. Easy settlement of claims, creation of analytical value from obtained data, and development of flexible insurance products for various sectors of the market are some of the advantages of IoT in insurance technology. The privacy of the user identity and over dependency on technology limit the adoption of IoT in insurance.
This report aims to provide a comprehensive presentation of the global market for Internet of Things Insurance, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Internet of Things Insurance. This report contains market size and forecasts of Internet of Things Insurance in global, including the following market information:
Global Internet of Things Insurance Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global top five companies in 2022 (%)
The global Internet of Things Insurance market was valued at US$ 26030 million in 2022 and is projected to reach US$ 155330 million by 2029, at a CAGR of 29.1% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
The growth in inclination towards IoT and increased demand for IoT-based devices in insurance industry majorly drive the IoT insurance market. Further, growth in practice of cloud computing in insurance sector and improved insurance service owing to adoption of IoT also propel the market toward growth. Development of new insurance model based on smart devices, growth in need to insure the devices such as smart automobiles, and analytics based on data provided by IoT devices for improvement of business creates sufficient opportunities in the IoT insurance market.
We surveyed the Internet of Things Insurance companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Internet of Things Insurance Market, by Type, 2018-2023, 2024-2029 ($ millions)
Global Internet of Things Insurance Market Segment Percentages, by Type, 2022 (%)
Property & Casualty Insurance
Health Insurance
Life Insurance
Others
Global Internet of Things Insurance Market, by Application, 2018-2023, 2024-2029 ($ millions)
Global Internet of Things Insurance Market Segment Percentages, by Application, 2022 (%)
Automotive & Transportation
Home & Commercial Building
Life & Health
Business & Enterprise
Travel
Others
Global Internet of Things Insurance Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions)
Global Internet of Things Insurance Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Internet of Things Insurance revenues in global market, 2018-2023 (estimated), ($ millions)
Key companies Internet of Things Insurance revenues share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
IBM Corporation
SAP SE
Oracle Corporation
Google
Microsoft Corporation
Cisco System
Accenture PLC
Verisk Analytics
Concirrus
Zonoff
Outline of Major Chapters:
Chapter 1: Introduces the definition of Internet of Things Insurance, market overview.
Chapter 2: Global Internet of Things Insurance market size in revenue.
Chapter 3: Detailed analysis of Internet of Things Insurance company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Internet of Things Insurance in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.
