openPR Logo
Press release

IoT Insurance Market to Worth US$ 430.1 Billion by 2032 | With a Striking 30.38% CAGR - IMARC Group

12-06-2023 02:14 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: IMARC Group

IoT Insurance Market to Worth US$ 430.1 Billion by 2032 | With

According to IMARC Group's latest report, titled "IoT Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.' offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.

Report Highlights

How big is the IoT insurance market?

The global IoT insurance market size reached US$ 37.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 430.1 Billion by 2032, exhibiting a growth rate (CAGR) of 30.38% during 2024-2032.

Request PDF Sample of the Report: https://www.imarcgroup.com/iot-insurance-market/requestsample

What is IoT insurance?

IoT insurance enables insurance companies across the globe to transmit, collect, and share critical data of clients. It aids brokers in partnering with policyholders to minimize the claims payouts for the insurers. IoT insurance relies on artificial intelligence (AI), machine learning, robotic process automation, augmented reality (AR), telematics, and drones to improve service quality. Some of the widely offered services by IoT insurance are claim management, immediate risk management, and reducing the operating costs of organizations during claim settlement management. Consequently, it is extensively gaining traction across numerous sectors, including healthcare, retail, residential, commercial, etc.

What are the growth prospects and trends in the IoT insurance industry?

The rising usage of telematics devices in the automotive and transportation sectors, as they assist in collecting data from vehicles and processing insurance claims faster in case of accidents or other mishappenings is primarily augmenting the IoT insurance market. Furthermore, the inflating investments in IoT technologies by insurance companies across the globe to improve their operational efficiency are positively influencing the market growth.

Apart from this, the widespread adoption of IoT devices in the healthcare sector to track heart rate, step count, and blood pressure of patients, allowing health insurers to provide customized discounts and better offers to customers is acting as another significant growth-inducing factor. Moreover, the increasing technological advancements in insurance model development are also bolstering the global market. Additionally, the escalating demand for cloud and value-added technologies, the growing requirement for internet-connected devices, and the rising commercialization of the 5G network for collecting more granular data are expected to drive the IoT insurance market in the coming years.

Ask Analyst for Customization: https://www.imarcgroup.com/request?type=report&id=4850&flag=E

Who are the key players operating in the industry?

The report covers the major market players including: 

Allerin
Capgemini SE
Cognizant
Concirrus
Intel Corporation
International Business Machines Corporation
Microsoft Corporation
Sas Institute Inc.
Telit
Verisk Analytics Inc
Wipro Limited.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Insurance Type:

Life and Health Insurance
Property and Casualty Insurance
Others

Breakup by Component:

Solution
Service

Breakup by Application:

Automotive, Transportation and Logistics
Life and Health
Commercial and Residential Buildings
Business and Enterprise
Agriculture
Others

Breakup by Region:

North America 
Europe 
Asia Pacific 
Latin America
Middle East and Africa

Buy Now: https://www.imarcgroup.com/checkout?id=4850&method=298

Key Highlights of the Report:

Market Performance
Market Outlook (2024-2032)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Browse Other Report: 

https://www.imarcgroup.com/3d-printing-market

https://www.imarcgroup.com/lithium-ion-battery-market

https://www.imarcgroup.com/cell-gene-therapy-market

https://www.imarcgroup.com/opioids-market

Media Contact:
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: sales@imarcgroup.com
Phone: +1-631-791-1145
Address: 134 N 4th St
City: Brooklyn
State: NY
Country: United States
Website: https://www.imarcgroup.com

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release IoT Insurance Market to Worth US$ 430.1 Billion by 2032 | With a Striking 30.38% CAGR - IMARC Group here

News-ID: 3317922 • Views:

More Releases from IMARC Group

Indian Cold Chain Market Size, Share, Trends, Growth, Industry Outlook and Analysis Report 2025-2033
Indian Cold Chain Market Size, Share, Trends, Growth, Industry Outlook and Analy …
As indicated in the latest market research report published by IMARC Group, titled " Indian Cold Chain Market Report by Segment (Cold Chain Storage, Cold Chain Transportation), Product (Fruits and Vegetables, Meat and Fish, Dairy Products, Healthcare Products), Sector (Private, Cooperative, Public), Organised and Unorganised (Organised, Unorganised), and State 2025-2033," this report provides an in-depth analysis of the industry, featuring insights into the market. It encompasses competitor and regional analyses,
Solar Pump Manufacturing Plant Setup Cost Report 2025: Business Plan, Machinery, and Industry Trends
Solar Pump Manufacturing Plant Setup Cost Report 2025: Business Plan, Machinery, …
Solar pump is a water pumping system powered by solar energy, utilizing photovoltaic panels to convert sunlight into electrical energy for pump operation. It is widely used across industries due to its energy efficiency, environmental friendliness, and low operational costs. Common applications include agricultural irrigation, water supply systems, livestock watering, residential water pumping, industrial water management, and remote area water access. Its sustainable and cost-effective properties make it essential in
Textile Recycling Market Gains Momentum Amid Rising Sustainability and Circular Economy Initiatives
Textile Recycling Market Gains Momentum Amid Rising Sustainability and Circular …
Textile Recycling Market Overview The global textile recycling market is on a consistent growth path, driven by rising environmental concerns and the growing focus on sustainable waste management practices. According to IMARC Group, the market attained a valuation of USD 5.40 billion in 2024 and is projected to reach USD 6.71 billion by 2033, reflecting a CAGR of 2.39% during 2025-2033. This expansion is attributed to innovations in recycling technologies such
India Corrugated Boxes Market Size, Share, Trends, Industry Outlook and Analysis Report 2025-2033
India Corrugated Boxes Market Size, Share, Trends, Industry Outlook and Analysis …
As indicated in the latest market research report published by IMARC Group, titled " India Corrugated Boxes Market Size, Share, Trends and Forecast by Material Used, End Use, and Region, 2025-2033," this report provides an in-depth analysis of the industry, featuring insights into the market. It encompasses competitor and regional analyses, as well as recent advancements in the market. Market Size & Future Growth Potential: The India corrugated boxes market size reached

All 5 Releases


More Releases for IoT

IOT Adoption Drives IoT insurance Market Growth: Pivotal Factor Influencing IoT …
Stay ahead with our updated market reports featuring the latest on tariffs, trade flows, and supply chain transformations. IoT Insurance Market Size Growth Forecast: What to Expect by 2025? The market size of Internet of Things (IoT) insurance has seen an explosive growth in the past few years. It is projected to rise from $100.02 billion in 2024 to a staggering $153.89 billion in 2025, experiencing a compound annual growth rate (CAGR)
Narrowband IoT (NB-IoT) Market Advancements in NB-IoT Connectivity Management Pl …
Numerous factor such as due to rapid development in IoT industry and rising demand of new cellular communication technology which are integrated to IoT low power wide area applications drives the growth of the market globally. moreover, increasing demand for navigation, telematics and in-car infotainment services in automotive & transportation industry is fueling the market of NB-IoT globally. However, licensing costs of NB-IoT are hindering the growth of narrowband-
IoT Edge Computing Software Market 2023 | SAS, IBM, EdgeIQ, AWS, Azure IoT Edge, …
Market Overview - The information made available in the IoT Edge Computing Software report will definitely facilitate to increase the knowledge and decision-making skills of the business, thus providing an immense opportunity for growth. This will at last increase the return rate and drive the competitive edge within. Being a custom market report, it provides services tailored to the exact challenge. Whether it is survey work, in-depth interviewing, or
IoT Cloud Market Next Big Thing | Major Giants Oracle, AWS IOT, IBM Watson IoT, …
COVID-19 Outbreak-Global IoT Cloud Industry Market Report-Development Trends, Threats, Opportunities and Competitive Landscape in 2020 is latest research study released by HTF MI evaluating the market, highlighting opportunities, risk side analysis, and leveraged with strategic and tactical decision-making support. The study provides information on market trends and development, drivers, capacities, technologies, and on the changing investment structure of the COVID-19 Outbreak-Global IoT Cloud Market. Some of the key players profiled
Narrowband IoT (NB-IoT) Market Future Adoption Overview 2025
The report titled "Global Narrowband IoT (NB-IoT) Market Size, Status and Forecast 2025, Trends, Share, Size Research Report " offers a primary impression of the Narrowband IoT (NB-IoT) industry covering different product Scope, Characterizations, Classifications, Objectives, and Participants in the industry chain structure. This report profiles major 15 topmost manufactures operating like ( Vodafone, China Unicom, China Telecom, AT&T, Etisalat, Telstra, Orange, Telefonica, SK Telecom, Deutsche Telekom  -  for complete manufactures list, please
Blockchain In IOT Market Business Growth Statistics And Key Players Insights Blo …
Research N Report has released a new report on the “global Blockchain in IOT Market”. This report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely scenarios. Each research report serves as a repository of analysis and information for every side of the market. "Blockchain in Internet