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PUBLISHER: IMARC | PRODUCT CODE: 1206974

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PUBLISHER: IMARC | PRODUCT CODE: 1206974

IoT Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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The global IoT insurance market size reached US$ 27.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 168.5 Billion by 2028, exhibiting a growth rate (CAGR) of 34.8% during 2023-2028.

IoT insurance enables insurance companies around the world in transmitting, collecting and sharing critical data of clients. It assists brokers in partnering with policyholders to minimize the claims pay-outs for the insurers. It also addresses the needs of customers by presenting more customized and accurate service packages. Additionally, it relies on artificial intelligence (AI), machine learning, robotic process automation, augmented reality (AR), telematics, and drones to improve the overall 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.

IoT Insurance Market Trends:

  • At present, there is a rise in the utilization of telematics devices in the automotive and transportation sectors as they aid in collecting data from vehicles and processing insurance claims faster in case of accidents or other mis happenings. This represents one of the major factors propelling the market growth of IoT insurance. In addition, insurance companies worldwide are considerably investing in IoT technologies to improve their operational efficiency. This, in confluence with the increasing adoption of IoT devices in the healthcare industry to track heart rate, step count, and blood pressure of patients, allowing health insurers to provide customized discounts and better offers to customers, is stimulating the market growth. Furthermore, technological advancements in insurance models' development across the globe are strengthening the market growth of IoT insurance. Some of the other factors offering lucrative growth opportunities to key players operating in the market are the escalating demand for cloud and value-added technologies, increasing need for internet-connected devices, and rising commercialization of 5G network for collecting more granular data.

Key Market Segmentation:

  • IMARC Group provides an analysis of the key trends in each sub-segment of the global IoT insurance market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on insurance type, component and application.

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
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Competitive Landscape:

  • The competitive landscape of the industry has also been examined along with the profiles of the key players being Accenture plc, Allerin, Capgemini SE, Cognizant, Concirrus, Intel Corporation, International Business Machines Corporation, Microsoft Corporation, Sas Institute Inc., Telit, Verisk Analytics Inc. and Wipro Limited.

Key Questions Answered in This Report:

  • 1. What was the size of the global IoT insurance market in 2022?
  • 2. What is the expected growth rate of the global IoT insurance market during 2023-2028?
  • 3. What are the key factors driving the global IoT insurance market?
  • 4. What has been the impact of COVID-19 on the global IoT insurance market?
  • 5. What is the breakup of the global IoT insurance market based on the insurance type?
  • 6. What is the breakup of the global IoT insurance market based on the component?
  • 7. What is the breakup of the global IoT insurance market based on the application?
  • 8. What are the key regions in the global IoT insurance market?
  • 9. Who are the key players/companies in the global IoT insurance market?
Product Code: SR1323A446_Report

Table of Contents

1 Preface

2 Scope and Methodology

  • 2.1 Objectives of the Study
  • 2.2 Stakeholders
  • 2.3 Data Sources
    • 2.3.1 Primary Sources
    • 2.3.2 Secondary Sources
  • 2.4 Market Estimation
    • 2.4.1 Bottom-Up Approach
    • 2.4.2 Top-Down Approach
  • 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

  • 4.1 Overview
  • 4.2 Key Industry Trends

5 Global IoT Insurance Market

  • 5.1 Market Overview
  • 5.2 Market Performance
  • 5.3 Impact of COVID-19
  • 5.4 Market Forecast

6 Market Breakup by Insurance Type

  • 6.1 Life and Health Insurance
    • 6.1.1 Market Trends
    • 6.1.2 Market Forecast
  • 6.2 Property and Casualty Insurance
    • 6.2.1 Market Trends
    • 6.2.2 Market Forecast
  • 6.3 Others
    • 6.3.1 Market Trends
    • 6.3.2 Market Forecast

7 Market Breakup by Component

  • 7.1 Solution
    • 7.1.1 Market Trends
    • 7.1.2 Market Forecast
  • 7.2 Service
    • 7.2.1 Market Trends
    • 7.2.2 Market Forecast

8 Market Breakup by Application

  • 8.1 Automotive, Transportation and Logistics
    • 8.1.1 Market Trends
    • 8.1.2 Market Forecast
  • 8.2 Life and Health
    • 8.2.1 Market Trends
    • 8.2.2 Market Forecast
  • 8.3 Commercial and Residential Buildings
    • 8.3.1 Market Trends
    • 8.3.2 Market Forecast
  • 8.4 Business and Enterprise
    • 8.4.1 Market Trends
    • 8.4.2 Market Forecast
  • 8.5 Agriculture
    • 8.5.1 Market Trends
    • 8.5.2 Market Forecast
  • 8.6 Others
    • 8.6.1 Market Trends
    • 8.6.2 Market Forecast

9 Market Breakup by Region

  • 9.1 North America
    • 9.1.1 United States
      • 9.1.1.1 Market Trends
      • 9.1.1.2 Market Forecast
    • 9.1.2 Canada
      • 9.1.2.1 Market Trends
      • 9.1.2.2 Market Forecast
  • 9.2 Asia-Pacific
    • 9.2.1 China
      • 9.2.1.1 Market Trends
      • 9.2.1.2 Market Forecast
    • 9.2.2 Japan
      • 9.2.2.1 Market Trends
      • 9.2.2.2 Market Forecast
    • 9.2.3 India
      • 9.2.3.1 Market Trends
      • 9.2.3.2 Market Forecast
    • 9.2.4 South Korea
      • 9.2.4.1 Market Trends
      • 9.2.4.2 Market Forecast
    • 9.2.5 Australia
      • 9.2.5.1 Market Trends
      • 9.2.5.2 Market Forecast
    • 9.2.6 Indonesia
      • 9.2.6.1 Market Trends
      • 9.2.6.2 Market Forecast
    • 9.2.7 Others
      • 9.2.7.1 Market Trends
      • 9.2.7.2 Market Forecast
  • 9.3 Europe
    • 9.3.1 Germany
      • 9.3.1.1 Market Trends
      • 9.3.1.2 Market Forecast
    • 9.3.2 France
      • 9.3.2.1 Market Trends
      • 9.3.2.2 Market Forecast
    • 9.3.3 United Kingdom
      • 9.3.3.1 Market Trends
      • 9.3.3.2 Market Forecast
    • 9.3.4 Italy
      • 9.3.4.1 Market Trends
      • 9.3.4.2 Market Forecast
    • 9.3.5 Spain
      • 9.3.5.1 Market Trends
      • 9.3.5.2 Market Forecast
    • 9.3.6 Russia
      • 9.3.6.1 Market Trends
      • 9.3.6.2 Market Forecast
    • 9.3.7 Others
      • 9.3.7.1 Market Trends
      • 9.3.7.2 Market Forecast
  • 9.4 Latin America
    • 9.4.1 Brazil
      • 9.4.1.1 Market Trends
      • 9.4.1.2 Market Forecast
    • 9.4.2 Mexico
      • 9.4.2.1 Market Trends
      • 9.4.2.2 Market Forecast
    • 9.4.3 Others
      • 9.4.3.1 Market Trends
      • 9.4.3.2 Market Forecast
  • 9.5 Middle East and Africa
    • 9.5.1 Market Trends
    • 9.5.2 Market Breakup by Country
    • 9.5.3 Market Forecast

10 SWOT Analysis

  • 10.1 Overview
  • 10.2 Strengths
  • 10.3 Weaknesses
  • 10.4 Opportunities
  • 10.5 Threats

11 Value Chain Analysis

12 Porters Five Forces Analysis

  • 12.1 Overview
  • 12.2 Bargaining Power of Buyers
  • 12.3 Bargaining Power of Suppliers
  • 12.4 Degree of Competition
  • 12.5 Threat of New Entrants
  • 12.6 Threat of Substitutes

13 Price Analysis

14 Competitive Landscape

  • 14.1 Market Structure
  • 14.2 Key Players
  • 14.3 Profiles of Key Players
    • 14.3.1 Accenture plc
      • 14.3.1.1 Company Overview
      • 14.3.1.2 Product Portfolio
      • 14.3.1.3 Financials
      • 14.3.1.4 SWOT Analysis
    • 14.3.2 Allerin
      • 14.3.2.1 Company Overview
      • 14.3.2.2 Product Portfolio
    • 14.3.3 Capgemini SE
      • 14.3.3.1 Company Overview
      • 14.3.3.2 Product Portfolio
      • 14.3.3.3 Financials
      • 14.3.3.4 SWOT Analysis
    • 14.3.4 Cognizant
      • 14.3.4.1 Company Overview
      • 14.3.4.2 Product Portfolio
      • 14.3.4.3 Financials
      • 14.3.4.4 SWOT Analysis
    • 14.3.5 Concirrus
      • 14.3.5.1 Company Overview
      • 14.3.5.2 Product Portfolio
    • 14.3.6 Intel Corporation
      • 14.3.6.1 Company Overview
      • 14.3.6.2 Product Portfolio
      • 14.3.6.3 Financials
      • 14.3.6.4 SWOT Analysis
    • 14.3.7 International Business Machines Corporation
      • 14.3.7.1 Company Overview
      • 14.3.7.2 Product Portfolio
      • 14.3.7.3 Financials
      • 14.3.7.4 SWOT Analysis
    • 14.3.8 Microsoft Corporation
      • 14.3.8.1 Company Overview
      • 14.3.8.2 Product Portfolio
      • 14.3.8.3 Financials
      • 14.3.8.4 SWOT Analysis
    • 14.3.9 Sas Institute Inc.
      • 14.3.9.1 Company Overview
      • 14.3.9.2 Product Portfolio
      • 14.3.9.3 SWOT Analysis
    • 14.3.10 Telit
      • 14.3.10.1 Company Overview
      • 14.3.10.2 Product Portfolio
      • 14.3.10.3 Financials
    • 14.3.11 Verisk Analytics Inc.
      • 14.3.11.1 Company Overview
      • 14.3.11.2 Product Portfolio
      • 14.3.11.3 Financials
      • 14.3.11.4 SWOT Analysis
    • 14.3.12 Wipro Limited
      • 14.3.12.1 Company Overview
      • 14.3.12.2 Product Portfolio
      • 14.3.12.3 Financials
      • 14.3.12.4 SWOT Analysis
Product Code: SR1323A446_Report

List of Figures

  • Figure 1: Global: IoT Insurance Market: Major Drivers and Challenges
  • Figure 2: Global: IoT Insurance Market: Sales Value (in Billion US$), 2017-2022
  • Figure 3: Global: IoT Insurance Market Forecast: Sales Value (in Billion US$), 2023-2028
  • Figure 4: Global: IoT Insurance Market: Breakup by Insurance Type (in %), 2022
  • Figure 5: Global: IoT Insurance Market: Breakup by Component (in %), 2022
  • Figure 6: Global: IoT Insurance Market: Breakup by Application (in %), 2022
  • Figure 7: Global: IoT Insurance Market: Breakup by Region (in %), 2022
  • Figure 8: Global: IoT Insurance (Life and Health Insurance) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 9: Global: IoT Insurance (Life and Health Insurance) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 10: Global: IoT Insurance (Property and Casualty Insurance) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 11: Global: IoT Insurance (Property and Casualty Insurance) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 12: Global: IoT Insurance (Other Insurance Types) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 13: Global: IoT Insurance (Other Insurance Types) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 14: Global: IoT Insurance (Solution) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 15: Global: IoT Insurance (Solution) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 16: Global: IoT Insurance (Service) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 17: Global: IoT Insurance (Service) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 18: Global: IoT Insurance (Automotive, Transportation and Logistics) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 19: Global: IoT Insurance (Automotive, Transportation and Logistics) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 20: Global: IoT Insurance (Life and Health) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 21: Global: IoT Insurance (Life and Health) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 22: Global: IoT Insurance (Commercial and Residential Buildings) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 23: Global: IoT Insurance (Commercial and Residential Buildings) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 24: Global: IoT Insurance (Business and Enterprise) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 25: Global: IoT Insurance (Business and Enterprise) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 26: Global: IoT Insurance (Agriculture) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 27: Global: IoT Insurance (Agriculture) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 28: Global: IoT Insurance (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 29: Global: IoT Insurance (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 30: North America: IoT Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 31: North America: IoT Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 32: United States: IoT Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 33: United States: IoT Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 34: Canada: IoT Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 35: Canada: IoT Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 36: Asia-Pacific: IoT Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 37: Asia-Pacific: IoT Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 38: China: IoT Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 39: China: IoT Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 40: Japan: IoT Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 41: Japan: IoT Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 42: India: IoT Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 43: India: IoT Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 44: South Korea: IoT Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 45: South Korea: IoT Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 46: Australia: IoT Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 47: Australia: IoT Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 48: Indonesia: IoT Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 49: Indonesia: IoT Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 50: Others: IoT Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 51: Others: IoT Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 52: Europe: IoT Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 53: Europe: IoT Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 54: Germany: IoT Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 55: Germany: IoT Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 56: France: IoT Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 57: France: IoT Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 58: United Kingdom: IoT Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 59: United Kingdom: IoT Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 60: Italy: IoT Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 61: Italy: IoT Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 62: Spain: IoT Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 63: Spain: IoT Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 64: Russia: IoT Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 65: Russia: IoT Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 66: Others: IoT Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 67: Others: IoT Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 68: Latin America: IoT Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 69: Latin America: IoT Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 70: Brazil: IoT Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 71: Brazil: IoT Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 72: Mexico: IoT Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 73: Mexico: IoT Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 74: Others: IoT Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 75: Others: IoT Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 76: Middle East and Africa: IoT Insurance Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 77: Middle East and Africa: IoT Insurance Market: Breakup by Country (in %), 2022
  • Figure 78: Middle East and Africa: IoT Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 79: Global: IoT Insurance Industry: SWOT Analysis
  • Figure 80: Global: IoT Insurance Industry: Value Chain Analysis
  • Figure 81: Global: IoT Insurance Industry: Porter's Five Forces Analysis

List of Tables

  • Table 1: Global: IoT Insurance Market: Key Industry Highlights, 2022 and 2028
  • Table 2: Global: IoT Insurance Market Forecast: Breakup by Insurance Type (in Million US$), 2023-2028
  • Table 3: Global: IoT Insurance Market Forecast: Breakup by Component (in Million US$), 2023-2028
  • Table 4: Global: IoT Insurance Market Forecast: Breakup by Application (in Million US$), 2023-2028
  • Table 5: Global: IoT Insurance Market Forecast: Breakup by Region (in Million US$), 2023-2028
  • Table 6: Global: IoT Insurance Market: Competitive Structure
  • Table 7: Global: IoT Insurance Market: Key Players
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