At 65+% CAGR, IoT Insurance Market Potentially Worth $42.76 Billion by 2022 Dominated by Automotive Insurance Industries

PUNE, India, Feb. 2, 2017 /PRNewswire-iReach/ -- The APAC region will be the fastest-growing IoT insurance market. The IoT insurance market is expected to grow at the highest CAGR between 2016 and 2022 owing to the increasing industrialization and urbanization in this region. The growing adoption of IoT devices such as smartphones, drones, and Wi-Fi dongles, among others in the Asia-Pacific region has increased the demand for IoT insurance in the region. The major investments in new innovations and IoT technologies in developing economies of APAC region drive the IoT insurance market.Complete report on "Global IoT Insurance Market" spread across 110 pages, profiling 11 companies and supported with 15 tables and 31 figures is now available at http://www.rnrmarketresearch.com/iot-insurance-market-by-type-p-c-health-life-application-automotive-transportation-home-commercial-buildings-life-health-business-enterprise-consumer-electronics-travel-agriculture-and-geograph-st-to-2022-market-report.html .

Automotive and transportation insurance application to exhibit impressive growth in the IoT insurance market during the forecast period. Most of the automotive insurance industries offer usage-based insurance for drivers and car owners. The IoT-based devices such as in-vehicle sensors, global positioning systems, and other on-board devices generate informative data for insurance industry. Data such as speed, acceleration, and distance driven is collected by insurers and is used to accurately access premium policies and reduce frauds. Additionally, the policyholders are able to get rewards for good driving behavior and improve the driving habits. Hence, IoT would be able to reduce the cost of premiums and strengthen customer relationships. The adoption of telematics in UBI enhances the underwriting process and speed up the insurance claim process.

The growth of the IoT insurance market is driven by the growing adoption of Internet of Things (IoT) for various insurance applications such as health, life, automobiles, travel, and agriculture sectors, among others. The IoT-enabled devices provide intelligent data for insurers to monitor and track the status and monitor data that helps insurers to manage claims and reduce risks.  

This research study is obliging for following audience:

1. IoT software solution providers
2. Cloud service providers
3. Original equipment manufacturers (OEMs)
4. IoT product manufacturers
5. Research organizations
6. Technology standards organizations, forums, alliances, and associations
7. Technology investors
8. Governments, financial institutions, and investment communities
9. Analysts and strategic business planners

The key players offering various products and services in the IoT insurance market include International Business Machines Corporation (U.S.), SAP SE (Germany), Oracle Corporation (U.S.), Microsoft Corporation (U.S.), Google Inc. (U.S.), LexisNexis Risk Solutions (U.S.), Zonoff, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Accenture PLC (Ireland), Concirus (U.K.) and Verisk Analytics, Inc. (U.S.). Also, the insurance companies that have implemented IoT for various applications include AXA Insurance (France), American Family Insurance (U.S.), American International Group, Inc. (U.S.), Allianz SE (Germany), Berkshire Hathaway Inc. (U.S.), and Zurich Insurance Group Ltd. (Switzerland).Make an Inquiry on "IoT Insurance Market by Type (P&C, Health, Life), Application (Automotive & Transportation, Home & Commercial Buildings, Life & Health, Business & Enterprise, Consumer Electronics, Travel, Agriculture), and Geography - Global Forecast to 2022" research report at http://www.rnrmarketresearch.com/contacts/inquire-before-buying?rname=842031 .

In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (40%), Tier 2 (35%) and Tier 3 (25%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (35%), Director Level (25%) and others (40%) from various key organizations operating in the Global IoT Insurance Market. The primary interviews were conducted worldwide covering regions such as North America (45%), Europe (20%), APAC (30%) and RoW (5%).

Research Coverage: In this report, various segments such as insurance type, insurance applications, and geography have been covered. It also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. The report gives a detailed view of the market across five main regions: North America, Europe, APAC, Middle East and Africa, and Latin America. The political, economic, social, and technological (PEST) factors analysis has been included in the report along with the description of each of its factors and their impact on the said market.

On a related note, another research titled IoT Chip Market Global Forecast to 2022 says, the IoT chip market is expected to be valued at USD 14.81 billion by 2022, growing at a CAGR of 13.2% from 2016 to 2022. IoT chip market for retail end-use application expected to grow at the highest rate from 2016 to 2022. IoT chip market in APAC expected to grow at the highest rate during the forecast period. Companies such as Intel Corporation (U.S.), Qualcomm Incorporated (U.S.), NXP Semiconductors N.V (Netherlands), Texas Instruments Incorporated (U.S.), STMicroelectronics N.V. (Switzerland), MediaTek Inc. (Taiwan),Microchip Technology Inc. (U.S.), Renesas Electronics Corporation (Japan), Huawei Technologies Co., Ltd. (China), NVIDIA Corporation (U.S.), Cypress Semiconductor Corporation (U.S.), Advanced Micro Devices, Inc. (U.S.), and Samsung Electronics Co., Ltd. (South Korea) have been profiled in this 212 pages research report available at http://www.rnrmarketresearch.com/iot-chip-market-by-hardware-processor-sensor-connectivity-ic-memory-device-and-logic-device-end-use-application-wearable-devices-building-automation-industrial-automotive-transportation-and-others-an-st-to-2022-market-report.html .

About Us:

RnRMarketResearch.com is your single source for all market research needs. Our database includes 500,000+ market research reports from over 100+ leading global publishers & in-depth market research studies of over 5000 micro markets. With comprehensive information about the publishers and the industries for which they publish market research reports, we help you in your purchase decision by mapping your information needs with our huge collection of reports.

Connect with Us:

G+ / Google Plus: https://plus.google.com/104156468549256253075/posts

Twitter: https://twitter.com/RnRMR

Facebook: https://www.facebook.com/pages/RnR-Market-Research/413488545356345

RSS / Feeds: http://www.rnrmarketresearch.com/feed

Media Contact: Ritesh Tiwari, RnR Market Research, +1-888-391-5441, [email protected]

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE RnR Market Research