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.
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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 [$M shipment analysis for 2013 – 2024]:
Property and Casualty (P&C) Insurance
Health Insurance
Life Insurance
Others
By End Use Industry [$M shipment analysis for 2013 – 2024]:
Automotive and Transportation
Home and Commercial Buildings
Life and Health
Business and Enterprise
Consumer Electronics and Industrial Machines
Others
By Region [$M shipment analysis for 2013 – 2024]:
North America
United States
Canada
Mexico
Europe
Asia Pacific
Rest of the World
This 150-page 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 click on this link https://www.lucintel.com/iot-inssurance-market.aspx or helpdesk@lucintel.com.
About Lucintel
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.