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At CAGR 57.1% IoT Insurance Market : Opportunity Analysis and Industry Forecast, 2027 | Aeris Group Ltd, Cisco Systems Inc., Concirrus, Google LLC
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The global IoT insurance market size was valued at $8.63 billion in 2019, and is projected to reach $304.31 billion by 2027, growing at a CAGR of 57.1% from 2020 to 2027.
The property and casualty (P&C) insurance segment dominated the IoT insurance industry in 2019, and is projected to maintain its dominance during the forecast period, owing to rise in use of connected and telematics device among automotive and travelling industries and rapid adoption of IoT technology among the P&C insurance service providers for upsurging their revenue opportunity.
The key factors that drive the growth of the global IoT insurance market trends include rise in adoption of IoT product among business to receive data from a variety of sources and increase in adoption of telematics device among automotive and transportation sectors are some the important factors that boost the IoT insurance market across the globe.
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The report focuses on growth prospects, restraints, and trends of the global IoT insurance market analysis. The study provides porter's five forces analysis to understand impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on global IoT Insurance market.
Top Impacting Factors :
• Rise in Adoption of Iot in Developed and Developing Economies
• Growth in Demand of Cloud Platform and Other Value-Added Services in Insurance Industry
Key Benefits For Stakeholders
The study provides an in-depth analysis of the global IoT insurance market forecast along with current trends and future estimations to elucidate the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on global IoT insurance market share is provided in the report.
Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the market from 2020 to 2027 is provided to determine the market potential.
Connect Analyst https://www.alliedmarketresearch.com/connect-to-analyst/10149
Key Market Segments
By Component
Solution
Service
By Insurance Type
Life & Health Insurance
Property and Casualty (P&C) Insurance
Others
By Application
Automotive, Transportation & Logistics
Life & Health
Commercial & Residential Buildings
Business & Enterprise
Agriculture
Others
By Region
North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Netherlands
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Taiwan
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Aeris Group Ltd
Cisco Systems Inc.
Concirrus
Google LLC
International Business Machines Corporation
Microsoft Corporation
Oracle Corporation
SAP SE
Telit
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