Internet of Things (IoT) Insurance Market Forecast to 2028

According to the most recent report by Emergen Research, the worldwide Internet of Things (IoT) insurance market is anticipated to reach a market size of USD 775.65 billion by 2028 and exhibit a strong revenue CAGR. The main factor fueling the growth of the worldwide Internet of Things (IoT) insurance market during the forecast period is the rising need for IoT devices in the insurance industry to improve customer experience. Also, the worldwide Internet of Things (IoT) insurance market is anticipated to develop over the course of the forecast period due to rising demand for value-added services. Also, the worldwide Internet of Things (IoT) insurance market is anticipated to rise as IoT devices are being adopted in both developed and developing nations.

The top competitors in the market, their expansion ambitions, and growth strategies are all carefully examined in the Internet of Things (IoT) Insurance Market report. The archive particularly exhorts businesspeople to look for information about and instructions to potential customers. The review, which only highlights the greatest sellers, helps business owners understand their local market and find potential customers.

Concerns regarding IoT device data risk and security are key factors expected to impede growth of the global Internet of Things (IoT) insurance market to some extent during the forecast period.

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The global Internet of Things (IoT) Insurance market report employs an extremely extensive and perceptive process that analyzes statistical data relating to services and products offered in the market. The research study is a pivotal document in understanding the needs and wants of the clients. The report is comprised of significant data about the leading companies and their marketing strategies. The Internet of Things (IoT) Insurance industry is witnessing an expansion and change of dynamics owing to the entry of several new players.

The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.

Google LLC, Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, Cisco Systems, Inc., SAP SE, Accenture PLC, Wipro Ltd., Damco International AS, Capgemini SE

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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.

Market Overview:

The report bifurcates the Internet of Things (IoT) Insurance market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Segments Covered in this report are:

• Insurance Type Outlook (Revenue, USD Billion; 2021–2028)
• Pension Insurance
• Warranty Insurance
• Cyber Insurance
• Life Insurance
• Property & Casualty Insurance
• Health Insurance
• Others

• Application Outlook (Revenue, USD Billion; 2021–2028)
• Connected Home
• Connected Car
• Connected Health
• Commercial Lines
• Others

• End-use Outlook (Revenue, USD Billion; 2021–2028)
• Automotive
• Retail
• Industrial
• Residential
• Healthcare
• Logistics
• Others

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The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market. 

Regional Analysis Covers:

• North America (U.S., Canada)
• 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)

Furthermore, the report provides the analytical data in an organized format segmented into charts, tables, graphs, figures, and diagrams. This enables readers to understand the market scenario in an easy and beneficial manner. Moreover, the report aims to impart a prospective outlook and draw an informative conclusion to assist the reader in making lucrative business decisions. The report, in conclusion, provides a detailed analysis of the segments expected to dominate the market, the regional bifurcation, the estimated market size and share, and comprehensive SWOT analysis and Porter’s Five Forces Analysis.

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