Emergence of the internet of things (IoT) has led to a proliferation of digitization in a variety of sectors. Adoption of IoT Insurance Market could redesign the entire business and operational landscape for the same. Usage of interconnected devices to collect and analyze real-time data by insurance companies is known as internet of things (IoT) insurance. It offers lucrative opportunities to insurers to partner with policyholders, minimizing risk in real time and lowering claim payouts, while enhancing deeper customer satisfaction.
The Covid-19 Impact on IoT Insurance Market is prognosticated to register a staggering 33% CAGR during the assessment period. The internet of things insurance is deemed to help insurance companies with monetization of risks and work with manufacturers from various sectors to reduce risks. According to the study, this would boost the IoT Insurance Market.
The prominent players in the IoT Insurance Market are IBM Corporation (U.S.), Accenture (Ireland), Cognizant (U.S.), Oracle Corporation (U.S), Zonoff Inc. (U.S.), Capgemini (France), SAP SE (Germany), LexisNexis (U.S.), Lemonade Inc. (U.S.), Hippo Insurance (U.S.) among others.
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Internet of Things (IoT) Insurance market is segmented on the basis of type and end-user.
Internet of Things (IoT) Insurance market by Type of Insurance:
- Health insurance
- Property and causality InsuranceMotor insurance
- Home insurance
- Commercial Insurance
- Agricultural insurance
- Life Insurance
Internet of Things (IoT) Insurance market by End-Users:
- Automotive &Transport
- Home and Commercial Buildings
- Consumer Electronics
Market Research Analysis:
Regional analysis for Internet of Things (IoT) Insurance market is studied in different geographic regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region would account for larger share in Internet of Things (IoT) Insurance market. It has been observed that North America region has high adoption of internet of things and higher technology developments which has resulted in the growth of Internet of Things (IoT) Insurance market. The study reveals that Asia-Pacific region is expected to have a significant growth in Internet of Things (IoT) Insurance market by the forecast period. The growing internet of things penetration and increasing number of wearables, drones and other in Asia-Pacific region is expected to give a boost to Internet of Things (IoT) Insurance market in this region. As per a recent news, South Korea a technologically advanced country in Asia-Pacific region reported that the internet of things (IoT) insurance has gained government backing. Thus, the government initiatives supporting internet of things (IoT) insurance boost the market in the Asia-Pacific region.
TABLE OF CONTENTS
1 Market Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.3 Market Structure
2 Research Methodology
2.1 Research Network Solution
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
3 Market Dynamics
3.2 Market Drivers
3.3 Market Challenges
3.4 Market Opportunities
3.5 Market Restraints
4 Executive Summary
- Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.2 Supply Chain Analysis
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