Florida, February 12, 2018: IOT is nothing but web of connected devices, machine, people and organizations that can interact with one another. With The growing GDPs of many countries across the world has favored the growth of IOT insurance segment. With the raise in per capita income of middle class and rising income group employees the IOT insurance is gaining much of the attention of many companies associating to it. The IOT has made the insurance sector to change its way of thinking and doing business. With the help of IOT enabled product it can now give real time assessment of data, useful and important data for insurers to help track the health, discover any threats relating to health and reduce the risk of policyholders, with all these available data the relationship between the policyholders and insurers will increase. With the help of IOT on board products the insurance companies will now give accurate GPS, distance driven and speed, acceleration and everything with a click of a button for correct premium policies and stop any malpractices.
The IoT Insurance Market is segmented on the lines of its insurance application, insurance type and regional. Based on insurance application segmentation it covers automotive and transportation, home and commercial buildings, life and health, business and enterprise, consumer electronics and industrial machines, travel, agriculture. Based on insurance type segmentation it covers property and casualty (P&C) insurance, health insurance, life insurance, others.
The IOT Insurance Market is expected to exceed more than US$ 42.76 Billion by 2016 to 2022 at a CAGR of 65.89% in the given forecast period.
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The IoT Insurance Market on geographic segmentation covers various regions such as North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Each geographic market is further segmented to provide market revenue for select countries such as the U.S., Canada, U.K. Germany, China, Japan, India, Brazil, and GCC countries.
The major driving factors of IoT Insurance Market are as follows:
- Developing economies implementing IOT products
- Use of IOT devices improves the insurance services
- Demand for cloud platforms and various value added services in insurance sector is growing
- Less risks related to premiums and costs
The restraining factors of IoT Insurance Market are as follows:
- Web of associated gadgets make protection concerns
- Though regulatory implications
This report provides:
1) An overview of the global market for IoT Insurance Market and related technologies.
2) Analyses of global market trends, with data from 2013, estimates for 2014 and 2015, and projections of compound annual growth rates (CAGRs) through 2022.
3) Identifications of new market opportunities and targeted promotional plans for IoT Insurance Market.
4) Discussion of research and development, and the demand for new products and new applications.
5) Comprehensive company profiles of major players in the industry.
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global market. Key players profiled in the report include IoT insurance ecosystems comprises OEMs such as Google Inc. (U.S.), and Lemonade Inc. (U.S.) among others; the system manufacturers, software providers, and connectivity providers includes SAP SE (Germany), IBM Corporation (U.S.), Cisco Systems, Inc. (U.S.), Oracle Corporation (U.S), Zonoff Inc. (U.S.), and Accenture PLC (Ireland); service providers include LexisNexis (U.S.), IBM Corporation (U.S.), SAP SE (Germany) and others. The end users are the insurance companies such as AXA Insurance (France), American International Group, Inc. (U.S.), and Allianz SE (Germany), American Family Insurance (U.S.), among others. Company profile includes assign such as company summary, financial summary, business strategy and planning, SWOT analysis and current developments.
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Table of Contents
2 Research Methodolog
3 Executive Summary
4 Market Overview
5 Industry Trends
6 IoT Insurance Market, By Insurance Type
7 IoT Insurance Market, By Insurance Application
8 IoT Insurance Market, By Geography
9 Competitive Landscape
10 Company Profile
10.2 International Business Machines Corporation
10.3 SAP SE
10.4 Oracle Corporation
10.5 Google Inc.
10.6 Microsoft Corporation
10.7 Cisco Systems Inc.
10.8 Accenture PLC
10.9 Verisk Analytics, Inc.
10.12 Zonoff, Inc.
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