0
Upcoming Allied Market Research
2023
Internet Of Things (iot) Based General Insurance Market

Internet of Things (IoT) based General Insurance Market

Size, Share, Competitive Landscape and Trend Analysis Report by Type (Property Casuality (PC) Insurance, Health Insurance, Life Insurance, Others) and by Application (Automotive Transportation, Home Commercial Buildings, Life Health, Consumer Electronics, Agriculture): Global Opportunity Analysis and Industry Forecast, 2023-2032

Report Code: A12747
Pages: NA
Tables: NA
Charts: NA
  • Formats*:

  • pdf

    Single User License, Five User
    License & Enterprise User License

  • xls

    Data Pack Excel License

  • ppt

    It comes with the additional cost
    of $2500.00 contact sales.

 

Internet of Things (IoT) based General Insurance Market Outlook - 2030

Internet of Things (IoT) refers to computing devices embedded in everyday objects that are connected to the internet and can send & receive data. The ability of IoT devices to communicate with one another without human intervention will open up new revenue streams, drive business efficiencies, facilitate new business models, and improve the delivery of existing services across a wide range of industries. IoT is well used in the general insurance domain as well.

Insurers can use the intelligent data provided by IoT-enabled devices to track health, detect abnormalities, and reduce risks for policyholders. IoT has the potential to change not only the top line, but also the bottom line of an insurer. Moreover, once the policyholder has given permission, insurers can use the data and alerts from IoT devices to deliver services with fewer touchpoints. Therefore, the growing adoption of digital technologies across the insurance sector is expected to boost the growth of the internet of things (IoT) based general insurance market in the upcoming years.

The global internet of things (IoT) based general insurance market is segmented on the basis of type, application and region. Based on type, the market is divided into property & causality (P&C) insurance, health insurance, life insurance and others. The other segment further includes warranty insurance, farmers’ insurance, cyber insurance, pet insurance, savings & investments insurance and pension insurance. In terms of application, the market is categorized into automotive & transportation, home & commercial buildings, life & health, consumer electronics, and agriculture. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global internet of things (IoT) based general insurance industry include International Business Machine (IBM) Corporation, Microsoft Corporation, Intel Corporation, Oracle, Telit, Synechron, Verisk Analytics Inc., Accenture, Aeris Group Ltd and Concirrus. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global internet of things (IoT) based general insurance market.

COVID-19 Scenario Analysis

  • Market vendors are collaborating with a number of organizations to provide emerging technology-enabled solutions to healthcare organizations to assist them in effectively dealing with the crisis during the COVID-19 pandemic.
  • Many industries have been impacted by the recent COVID-19 outbreak and nationwide lockdown; however, insurance is one such industry that has seen a significant increase in demand, particularly in the health and related segments. Many industries, particularly healthcare, have increased their investment in IoT solutions as a result of COVID-19, which increases the demand for IoT insurance.

Top Impacting Factors

Increase in development of wireless network technologies and the rise in automotive industry to hold significant share are driving the growth of the market. In addition, reduction in premium & risk related costs in insurance propel the growth of the market. However, communication standards and data privacy concerns may hamper the growth of the market. Contrarily, increase in need of insurance for various IoT enabled applications such as auto, health, life, home & commercial is expected to provide lucrative opportunities to the market in the upcoming years.

Increase in Development of Wireless Technologies

Surge in number of wireless technologies now allow devices to communicate with one another. Because of the increased connectivity, a larger number of people are expected to be interested in purchasing IoT devices. In the insurance industry, high-speed network connectivity has opened up many new possibilities. The number of devices that can connect to a high-speed wireless network is on an increase, as is the number of devices that can connect to it.

It is simple to set up and optimize network connectivity by using separate radio links for device-to-tower and tower-to-device communication. Moreover, LTE is significant because it allows for more efficient use of the finite spectrum available to connect low-power IoT devices to back-end systems. Therefore, the rise in demand for the development of wireless technologies is expected to boost the growth of internet of things (IoT) based general insurance market during the forecast period.

Rise in Automotive Industry to Hold Significant Share

There is intelligent and cooperative IoT data exchange between connected vehicles connected to V2X (an external IoT device) owing to increase in use of connected vehicles connected to V2X (an external IoT device). This is also used to figure out insurance premiums. Automobile companies in the region that are interested in Farconnected cars are currently expanding their focus to include insurance telematics.

Moreover, IoT-enabled automotive is also being preferred by the government and insurance companies, as it provides safety. Therefore, the surge in demand for the automotive insurance is expected to boost the growth of the internet of things (IoT) based general insurance market during the forecast period.

Key Benefits of the Report

  • This study presents analytical depiction of the global internet of things (IoT) based general insurance market forecast along with the current trends and future estimations to determine the imminent investment pockets.       
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the internet of things (IoT) based general insurance market trends.          
  • The current market is quantitatively analyzed to highlight the global internet of things (IoT) based general insurance market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed internet of things (IoT) based general insurance market analysis depending on the present and future competitive intensity of the market.

Questions Answered in the Internet Of Things (IoT) Based General Insurance Market Research Report

  • Which are the leading players active in the global internet of things (IoT) based general insurance market size?
  • What would be the detailed impact of COVID-19 on the global internet of things (IoT) based general insurance market share?
  • What are current trends that would influence the internet of things (IoT) based general insurance market in the next few years?
  • What are the driving factors, restraints, and opportunities of the global internet of things (IoT) based general insurance market?
  • What are the projections for the future that would help in taking further strategic steps?

Internet of Things (IoT) based General Insurance Market Report Highlights

Aspects Details
By Type
  • Property & Casuality (P&C) Insurance
  • Health Insurance
  • Life Insurance
  • Others
    • Warranty Insurance
    • Farmers’ Insurance
    • Cyber Insurance
    • Pet Insurance
    • Savings & Investments Insurance
    • Pension Insurance
By Application
  • Automotive & Transportation
  • Home & Commercial Buildings
  • Life & Health
  • Consumer Electronics
  • Agriculture
By Region
  • North America  (U.S., Canada)
  • Europe  (France, Germany, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players Synechron, Telit, Oracle, Aeris Group Ltd, Intel Corporation, International Business Machine (IBM) Corporation, Microsoft Corporation, Accenture, Concirrus, Verisk Analytics Inc.
 

Loading Table Of Content...


 
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.

Purchase Options

Call or Email Us

U.S.-Canada Toll-free: +1-800-792-5285
Int'l : +1-503-894-6022
Europe : +44-845-528-1300
Email : help@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Enquiry Now
Related Tags

Purchase Full Report of
Internet Of Things (iot) Based General Insurance Market

Start reading.
This Report and over 71,251+ more Reports, Available with Avenue Library. T&C*.

  • Online Only
  • $3,690
  • Online cloud access only
  • Restricted print, copy, paste & download
  • Read only
  • Free industry update
    (Within 180 days)
  • Free report update in next update cycle
  • Data Pack
  • $3,930
  • Restricted to one authorized user
  • One print only
  • Available in
    Excel
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Single User
  • $5,820
  • Restricted to one authorized user
  • One print only
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Five Users
  • $6,540
  • Limited to five authorized users
  • Print upto five copies
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Enterprise
    License/PDF

  • $9,870
  • Unlimited
    within
    company/enterprise
  • Available in Excel & PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Library
    Membership

  • $999 $ 1,175
    Per User/ Per month/ Billed annually
  • Published Content
    E-access
  • Company Profiles
    E-access
  • Newly Added Content Access
  • 10 PDF
    Downloads
  • 5 Excel Data
    Pack Downloads
  • 250 Company Profiles PDF Downloads
  • Buy Now

*Taxes/Fees, if applicable will be added during checkout. All prices in USD

Related Reports
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time for readers

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers