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Global IoT InsuranceMarket Size study, by Insurance Type (Property and Casualty Insurance, Health Insurance, Life Insurance, Others) by Insurance Application (Automotive and Transportation, Home and Commercial Buildings, Life and Health, Business and Enterprise, Consumer Electronics and Industrial Machines, Travel, Agriculture) and Regional Forecasts 2021-2027

June 2021 | 200 pages | ID: G2486345A7E1EN
Bizwit Research & Consulting LLP

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Global IoT InsuranceMarket is valued approximately USD 15.54 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 65.89 % over the forecast period 2021-2027. Insurers have primarily used IoT capabilities to improve customer engagement and to accelerate and standardize underwriting and claims handling. The propelling factors for the growth of the global IoT insurance market dynamics include an increase in the adoption of IoT products among businesses to obtain data from a variety of sources, as well as an enhance in the adoption of telematics devices among the automotive and manufacturing sectors.Furthermore, increased investment in IoT technology by insurance companies to improve organizational performance fosters growth of the overall market.As per a report from the Insurance Business, 20% of insurance companies have either been piloting, checking, or deploying IoT interventions. The increasing adoption of IoT in insurance is being influenced by a range of multiple technology enablers. IoT can benefit insurance companies by cutting the cost of the claims process by 30%, while Smart applications can lower premiums by 25%.IoT has the potential to change not only the top line, but also the bottom line of an insurance. Once the policyholder has given permission, insurers can use the data and warnings from IoT devices to deliver services with fewer touchpoints. The expanding trend of linked devices in numerous industries allows insurance firms to gain more control over data, hence reducing risk. Implementing the Internet of Things will also help to increase system efficiencies, increase protection measures, and reduce claims, all of which will result in cost savings. The number of devices used per customer had increased dramatically, indicating a higher assessment of ecosystem appropriateness. However, concerns about the security and privacy of customers' personal information, as well as a lack of expertise among workers in the use of IoT devices, are limiting the growth of the IoT insurance industry. Increased adoption of advanced technologies such as machine learning and artificial intelligence in the insurance business, on the other hand, is likely to provide lucrative potential for worldwide IoT expansion.

Due to the extreme presence of sophisticated countries, high financial power, and early permission for internet of things, North America dominates the IoT insurance industry (IoT). Furthermore, many organizations’ use of new technologies such as IoT, Big Data, and others will have a beneficial impact on the productivity of the Internet of Things (IoT) Insurance market in the territory.Because of its expanding industrialization and urbanization, Asia-Pacific is likely to see considerable growth in the IoT insurance market. Furthermore, the growing use of IoT devices in emerging nations, such as smartphone, drones, and Wi-Fi dongles, has increased the demand for IoT insurance, which is expected to accelerate IoT growth even further.

Major market player included in this report are:
Google Inc.
Lemonade Inc.
SAP SE
IBM Corporation
Cisco Systems, Inc.
Oracle Corporation
Zonoff Inc.
Accenture PLC
LexisNexis
Intel Corporation

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Insurance Type:
Property and Casualty Insurance
Health Insurance
Life Insurance
Others
ByInsurance Application:
Automotive and Transportation
Home and Commercial Buildings
Life and Health
Business and Enterprise
Consumer Electronics and Industrial Machines
Travel
Agriculture

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027

Target Audience of the Global IoT InsuranceMarket in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
CHAPTER 1. EXECUTIVE SUMMARY

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
  1.2.1. IoT Insurance Market, by Region, 2019-2027 (USD Billion)
  1.2.2. IoT InsuranceMarket, by Insurance type,2019-2027 (USD Billion)
  1.2.3. IoT InsuranceMarket, by Insurance Application, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

CHAPTER 2. GLOBAL IOT INSURANCEMARKET DEFINITION AND SCOPE

2.1. Objective of the Study
2.2. Market Definition & Scope
  2.2.1. Scope of the Study
  2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

CHAPTER 3. GLOBAL IOT INSURANCEMARKET DYNAMICS

3.1. IoT Insurance Market Impact Analysis (2019-2027)
  3.1.1. Market Drivers
    3.1.1.1. Increasing adoption of IT products
    3.1.1.2. Increasing investment in technology
  3.1.2. Market Challenges
    3.1.2.1. Lack of expertise among workers
  3.1.3. Market Opportunities
    3.1.3.1. Increasing adoption of machine learning

CHAPTER 4. GLOBAL IOT INSURANCEMARKET INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
  4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2027)
4.2. PEST Analysis
  4.2.1. Political
  4.2.2. Economical
  4.2.3. Social
  4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL IOT INSURANCEMARKET, BY INSURANCE TYPE

5.1. Market Snapshot
5.2. Global IoT InsuranceMarket by Insurance type, Performance - Potential Analysis
5.3. Global IoT Insurance Market Estimates & Forecasts by Insurance type2018-2027 (USD Billion)
5.4. IoT InsuranceMarket, Sub Segment Analysis
  5.4.1. Property and Causality Insurance
  5.4.2. Health Insurance
  5.4.3. Life Insurance
  5.4.4. Others

CHAPTER 6. GLOBAL IOT INSURANCEMARKET, BY INSURANCE APPLICATION

6.1. Market Snapshot
6.2. Global IoT Insurance Market by Insurance Application, Performance - Potential Analysis
6.3. Global IoT Insurance Market Estimates & Forecasts by Insurance Application2018-2027 (USD Billion)
6.4. IoT InsuranceMarket, Sub Segment Analysis
  6.4.1. Automotive and Transportation
  6.4.2. Home and Commercial Buildings
  6.4.3. Life and Health
  6.4.4. Business and Enterprise
  6.4.5. Consumer Electronics and Industrial Manufacture
  6.4.6. Travel
  6.4.7. Agriculture

CHAPTER 7. GLOBAL IOT INSURANCEMARKET, REGIONAL ANALYSIS

7.1. IoT InsuranceMarket, Regional Market Snapshot
7.2. North America IoT InsuranceMarket
  7.2.1. U.S.IoT InsuranceMarket
    7.2.1.1. Insurance typebreakdown estimates & forecasts, 2018-2027
    7.2.1.2. Insurance Applicationbreakdown estimates & forecasts, 2018-2027
  7.2.2. CanadaIoT Insurance Market
7.3. Europe IoT InsuranceMarket Snapshot
  7.3.1. U.K. IoT Insurance Market
  7.3.2. Germany IoT Insurance Market
  7.3.3. France IoT Insurance Market
  7.3.4. Spain IoT Insurance Market
  7.3.5. Italy IoT Insurance Market
  7.3.6. Rest of EuropeIoT Insurance Market
7.4. Asia-PacificIoT InsuranceMarket Snapshot
  7.4.1. China IoT Insurance Market
  7.4.2. India IoT Insurance Market
  7.4.3. JapanIoT Insurance Market
  7.4.4. Australia IoT Insurance Market
  7.4.5. South Korea IoT Insurance Market
  7.4.6. Rest of Asia PacificIoT Insurance Market
7.5. Latin America IoT InsuranceMarket Snapshot
  7.5.1. Brazil IoT Insurance Market
  7.5.2. Mexico IoT Insurance Market
7.6. Rest of The World IoT Insurance Market

CHAPTER 8. COMPETITIVE INTELLIGENCE

8.1. Top Market Strategies
8.2. Company Profiles
  8.2.1. Google Inc.
    8.2.1.1. Key Information
    8.2.1.2. Overview
    8.2.1.3. Financial (Subject to Data Availability)
    8.2.1.4. Product Summary
    8.2.1.5. Recent Developments
  8.2.2. Lemonade Inc.
  8.2.3. SAP SE
  8.2.4. IBM Corporation
  8.2.5. Cisco Systems, Inc.
  8.2.6. Oracle Corporation
  8.2.7. Zonoff Inc.
  8.2.8. Accenture PLC
  8.2.9. LexisNexis
  8.2.10. Intel Corporation

CHAPTER 9. RESEARCH PROCESS

9.1. Research Process
  9.1.1. Data Mining
  9.1.2. Analysis
  9.1.3. Market Estimation
  9.1.4. Validation
  9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

LIST OF TABLES

TABLE 1. Global IoT Insurance market, report scope
TABLE 2. Global IoT Insurancemarket estimates & forecasts by Region 2018-2027 (USD Billion)
TABLE 3. Global IoT Insurancemarket estimates & forecasts byInsurance type2018-2027 (USD Billion)
TABLE 4. Global IoT Insurancemarket estimates & forecasts byInsurance Application2018-2027 (USD Billion)
TABLE 5. Global IoT Insurancemarket by segment, estimates & forecasts, 2018-2027 (USD Billion)
TABLE 6. Global IoT Insurancemarket by region, estimates & forecasts, 2018-2027 (USD Billion)
TABLE 7. Global IoT Insurancemarket by segment, estimates & forecasts, 2018-2027 (USD Billion)
TABLE 8. Global IoT Insurancemarket by region, estimates & forecasts, 2018-2027 (USD Billion)
TABLE 9. Global IoT Insurancemarket by segment, estimates & forecasts, 2018-2027 (USD Billion)
TABLE 10. Global IoT Insurancemarket by region, estimates & forecasts, 2018-2027 (USD Billion)
TABLE 11. Global IoT Insurancemarket by segment, estimates & forecasts, 2018-2027 (USD Billion)
TABLE 12. Global IoT Insurancemarket by region, estimates & forecasts, 2018-2027 (USD Billion)
TABLE 13. Global IoT Insurancemarket by segment, estimates & forecasts, 2018-2027 (USD Billion)
TABLE 14. Global IoT Insurancemarket by region, estimates & forecasts, 2018-2027 (USD Billion)
TABLE 15. U.S. IoT Insurancemarket estimates & forecasts, 2018-2027 (USD Billion)
TABLE 16. U.S. IoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 17. U.S. IoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 18. Canada IoT Insurancemarket estimates & forecasts, 2018-2027 (USD Billion)
TABLE 19. Canada IoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 20. Canada IoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 21. UK IoT Insurancemarket estimates & forecasts, 2018-2027 (USD Billion)
TABLE 22. UK IoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 23. UK IoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 24. Germany IoT Insurancemarket estimates & forecasts, 2018-2027 (USD Billion)
TABLE 25. Germany IoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 26. Germany IoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 27. RoEIoT Insurancemarket estimates & forecasts, 2018-2027 (USD Billion)
TABLE 28. RoEIoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 29. RoEIoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 30. China IoT Insurancemarket estimates & forecasts, 2018-2027 (USD Billion)
TABLE 31. China IoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 32. China IoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 33. India IoT Insurancemarket estimates & forecasts, 2018-2027 (USD Billion)
TABLE 34. India IoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 35. India IoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 36. Japan IoT Insurancemarket estimates & forecasts, 2018-2027 (USD Billion)
TABLE 37. Japan IoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 38. Japan IoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 39. RoAPACIoT Insurancemarket estimates & forecasts, 2018-2027 (USD Billion)
TABLE 40. RoAPACIoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 41. RoAPACIoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 42. Brazil IoT Insurancemarket estimates & forecasts, 2018-2027 (USD Billion)
TABLE 43. Brazil IoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 44. Brazil IoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 45. Mexico IoT Insurancemarket estimates & forecasts, 2018-2027 (USD Billion)
TABLE 46. Mexico IoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 47. Mexico IoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 48. RoLAIoT Insurancemarket estimates & forecasts, 2018-2027 (USD Billion)
TABLE 49. RoLAIoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 50. RoLAIoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 51. Row IoT Insurancemarket estimates & forecasts, 2018-2027 (USD Billion)
TABLE 52. Row IoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 53. Row IoT Insurancemarket estimates & forecasts by segment 2018-2027 (USD Billion)
TABLE 54. List of secondary sources, used in the study of global IoT Insurance market
TABLE 55. List of primary sources, used in the study of global IoT Insurance market
TABLE 56. Years considered for the study
TABLE 57. Exchange rates considered

LIST OF FIGURES

FIG 1. Global IoT Insurancemarket, research methodology
FIG 2. Global IoT Insurancemarket, market estimation techniques
FIG 3. Global market size estimates & forecast methods
FIG 4. Global IoT Insurancemarket, key trends 2020
FIG 5. Global IoT Insurancemarket, growth prospects 2021-2027
FIG 6. Global IoT Insurancemarket, porters 5 force model
FIG 7. Global IoT Insurancemarket, pest analysis
FIG 8. Global IoT Insurancemarket, value chain analysis
FIG 9. Global IoT Insurancemarket by segment, 2018& 2027 (USD Billion)
FIG 10. Global IoT Insurancemarket by segment, 2018& 2027 (USD Billion)
FIG 11. Global IoT Insurancemarket by segment, 2018& 2027 (USD Billion)
FIG 12. Global IoT Insurancemarket by segment, 2018& 2027 (USD Billion)
FIG 13. Global IoT Insurancemarket by segment, 2018& 2027 (USD Billion)
FIG 14. Global IoT Insurancemarket, regional snapshot 2018& 2027
FIG 15. North America IoT Insurancemarket2018& 2027 (USD Billion)
FIG 16. Europe IoT Insurancemarket2018& 2027 (USD Billion)
FIG 17. Asia pacific IoT Insurancemarket2018& 2027 (USD Billion)
FIG 18. Latin America IoT Insurancemarket2018& 2027 (USD Billion)
FIG 19. Global IoT Insurancemarket, company market share analysis (2020)


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