According to a market report by Lucintel, the future of the IoT insurance market looks promising with opportunities in the automotive and transportation, home and commercial buildings, life and health, business and enterprise, and consumer electronics and industrial machine industries. The IoT insurance market is expected to grow with a CAGR of 60% from 2019 to 2024. The major drivers for this market are growing adoption of internet of things (IoT) products, growing demand of cloud platform and other value added services in insurance industry and reduction in premium and risk related costs.
In this market, property and casualty (P&C) insurance, health insurance, and life insurance are the major insurance type. Within the IoT insurance market, automotive and transportation, home and commercial buildings, life and health, business and enterprise, and consumer electronics and industrial machines are the major end use industries. APAC will remain the largest market over the forecast period.
International Business Machines Corporation (IBM), SAP, Oracle, Google, Microsoft Corporation, Cisco Systems, Accenture, Verisk Analytics, Concirrus, and Lexisnexis are among the major suppliers in the IoT insurance market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the IoT insurance market by insurance type, end use industry, and region. Lucintel has prepared a comprehensive research report entitled “IoT Insurance Market 2019-2024: Trends, Forecast, and Opportunity Analysis”. This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the IoT Insurance market by insurance type, end use industry, and region as follows:
By insurance Type [$M shipment analysis for 2013 – 2024]:
• Property and Casualty (P&C) Insurance
• Health Insurance
• Life Insurance
By End Use Industry [$M shipment analysis for 2013 – 2024]:
• Automotive and Transportation
• Home and Commercial Buildings
• Life and Health
• Business and Enterprise
• Consumer Electronics and Industrial Machines
By Region [$M shipment analysis for 2013 – 2024]:
• North America
– United States
• Asia Pacific
• Rest of the World
A more than 150 pages research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at [email protected]
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high-growth opportunities for the IoT insurance market by insurance type (property and casualty (P&C) insurance, health insurance, life insurance, others), end use industry (automotive and transportation, home and commercial buildings, life and health, business and enterprise, consumer electronics and industrial machines, others), and region (North America, Europe, Asia Pacific (APAC), Rest of the World (ROW))?
Q.2 which segments will grow at a faster pace and why?
Q.3 which regions will grow at a faster pace and why?
Q.4 what are the key factors affecting market dynamics? What are the drivers and challenges of the IoT insurance market?
Q.5 what are the business risks and threats to the IoT insurance market?
Q.6 what are emerging trends in this IoT insurance market and the reasons behind them?
Q.7 what are some changing demands of customers in the IoT insurance market?
Q.8 what are the new developments in the IoT insurance market? Which companies are leading these developments?
Q.9 who are the major players in this IoT insurance market? What strategic initiatives are being implemented by key players for business growth?
Q.10 what are some of the competitive products and processes in this IoT insurance area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this, IoT insurance market?