"IoT insurance market to grow at a CAGR of 65.89% between 2016 and 2022"
The global IoT insurance market is estimated to be worth
Get More Details on this Report and a Full Table of Contents at IoT Insurance Market - Global Forecast to 2022
"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.
"APAC region to be the fastest-growing market for IoT insurance"
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
Breakdown of profile of primary participants:
-By Company Type: Tier 1 - 40%, Tier 2 - 35%, and Tier 3 - 25%
-By Designation: C-Level Executives - 35%, Directors - 25%, and Others - 40%
The key players offering various products and services in the IoT insurance market include
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:
Reasons to Buy the Report:
-This report includes statistics pertaining to the IoT insurance market on the basis of insurance type, insurance application, and region.
-The PEST analysis, value chain analysis, and key strategies adopted by the market players have been provided for the IoT insurance market.
-Major drivers, restraints, opportunities and, challenges for the IoT insurance market have been provided in detail in this report.
-The report includes illustrative segmentation, analysis, and forecast for the IoT insurance market based on its segments and subsegments.
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