Internet of Things (IoT) Insurance Market Research Report- Global Forecast 2022

Internet of Things (IoT) Insurance Market Research Report- Global Forecast 2022

ID: MRFR/SEM/2007-HCRR | January, 2018 | Region: Global | 100 pages | Half-Cooked Research Reports

Internet of Things (IoT) Insurance Market, By Type (Health insurance, Property and causality Insurance, Agricultural insurance, Life Insurance), By End-User (Automotive & Transport, Travel, Healthcare, Home and Commercial Buildings, Agriculture, Consumer Electronics) - Forecast 2022


Market Synopsis of Internet of Things (IoT) Insurance Market:


Market Scenario:


Internet of Things (IoT) Insurance offers an opportunity for insurers to partner with policyholders with a full view of the policyholder, it minimizes risk in real time and lowers the claims payouts for the insurer and provides a deep level of satisfaction to the policyholders. The Internet of Things (IoT) market and the smart city market is showing rapid growth. Thus, demand IoT insurance is increasing rapidly. Using IoT insurance, the insurers can utilize the data derived from all types of devices as well as external sources, such as weather data and provide the best level of protection possible for their policyholders.


The study indicates that internet of things insurance would help insurance companies to monetize risks and work with appliance, automobile, and other equipment manufacturers to reduce actual risk which would boost the internet of things insurance market. Adoption of internet of things insurance would create a movement towards usage-based insurance models and would likely decrease risk and reduce claim numbers.


Internet of things (IoT) systems give large amounts of real-time data which has requires strong infrastructure offered by IoT vendors. This creates a risk of data loss and malfunctioning of the systems due to network failure which in result creates a need to follow fixed communications standards for data transmission. Apart from it, the risks associated with connected devices create privacy concerns. Thus, all these factors cease the adoption of IoT by the insurers. Internet of Things (IoT) Insurance is market is segmented on the basis of type of insurance and end-users. The type of insurance is classified into different types as Health insurance, Property and causality Insurance, Agricultural insurance, Life Insurance and others.


The global Internet of Things (IoT) Insurance market is expected to grow at USD ~9 Billion by 2022, at ~33% of CAGR between 2016 and 2022.


Study Objectives of Internet of Things (IoT) Insurance market:



  • To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the Internet of Things (IoT) Insurance market.

  • To provide insights about factors affecting the market growth.

  • To analyze the Internet of Things (IoT) Insurance market based porter’s five force analysis etc.

  • To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).

  • To provide country level analysis of the market with respect to the current market size and future prospective.

  • To provide country level analysis of the market for segment on the basis of type and end-user.

  • To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.

  • To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Internet of Things (IoT) Insurance


Internet of Things (IoT) Insurance Market
Internet of Things (IoT) Insurance Market
Key Players:


The prominent players in the Internet of Things (IoT) Insurance market are IBM Corporation (U.S.), Accenture (Ireland), Cognizant (U.S.), Oracle Corporation (U.S), Zonoff Inc. (U.S.), Capgemini (France), SAP SE (Germany), LexisNexis (U.S.), Lemonade Inc. (U.S.), Hippo Insurance (U.S.) among others.


Segments:


Internet of Things (IoT) Insurance market is segmented on the basis of type and end-user.


Internet of Things (IoT) Insurance market by Type of Insurance:



  • Health insurance

  • Property and causality InsuranceMotor insurance

  • Home insurance

  • Commercial Insurance

  • Agricultural insurance

  • Life Insurance

  • Others


Internet of Things (IoT) Insurance market by End-Users:



  • Automotive &Transport

  • Healthcare

  • Home and Commercial Buildings

  • Agriculture

  • Consumer Electronics

  • Others




Regional Analysis:


The regional analysis of Internet of Things (IoT) Insurance is being studied for region such as Asia pacific, North America, Europe and Rest of the World. It has been observed that North America is dominating the Internet of Things (IoT) Insurance market owing to many factors as, presence of developed economies such as United States, Canada, high investing power, early adoption of internet of things (IoT). Apart from it, development of new technologies such as IoT, Big data and others by many organization will have positive impact on market of Internet of Things (IoT) Insurance in this region. The Asia-Pacific region is expected to show a sudden hike in the IoT insurance market owing to factors such as rising internet of things penetration and increasing number of wearables, drones and others.


Intended Audience



  • Technology investors

  • Key market innovators

  • Hardware vendors

  • Regulatory agencies

  • IoT insurance providers

  • IoT service providers

  • Communication service providers

  • Quality assurance providers

  • IoT platform providers

  • Third-party system integrators

  • Application providers

  • Research/Consultancy firms

TABLE OF CONTENTS

1    MARKET INTRODUCTION

      1.1    INTRODUCTION    

      1.2    SCOPE OF STUDY

            1.2.1    RESEARCH OBJECTIVE

            1.2.2    ASSUMPTIONS

            1.2.3    LIMITATIONS

      1.3    MARKET STRUCTURE

2    RESEARCH METHODOLOGY

      2.1    RESEARCH NETWORK SOLUTION

      2.2    PRIMARY RESEARCH

      2.3    SECONDARY RESEARCH

      2.4    FORECAST MODEL

            2.4.1    MARKET DATA COLLECTION, ANALYSIS & FORECAST

            2.4.2    MARKET SIZE ESTIMATION

3    MARKET DYNAMICS 

      3.1    INTRODUCTION

      3.2    MARKET DRIVERS

      3.3    MARKET CHALLENGES

      3.4    MARKET OPPORTUNITIES 

      3.5    MARKET RESTRAINTS

4    EXECUTIVE SUMMARY 

5.    MARKET FACTOR ANALYSIS

      5.1    PORTER’S FIVE FORCES ANALYSIS

      5.2    SUPPLY CHAIN ANALYSIS

6    INTERNET OF THINGS (IOT) INSURANCE MARKET, BY SEGMENTS

      6.1    INTRODUCTION

      6.2    MARKET STATISTICS

            6.2.1    BY TYPE

                6.2.1.1    HEALTH INSURANCE

                6.2.1.2     PROPERTY AND CAUSALITY INSURANCE

                  6.2.1.2.1    MOTOR INSURANCE

                  6.2.1.2.2    HOME INSURANCE

                  6.2.1.2.3    COMMERCIAL INSURANCE

                6.2.1.3    AGRICULTURAL INSURANCE

                6.2.1.4    LIFE INSURANCE

                6.2.1.5    OTHERS

            6.2.2    BY END-USER

                6.2.2.1    CONSUMER ELECTRONICS 

                6.2.2.2    AUTOMOTIVE AND TRANSPORT

                6.2.2.3    HOME AND COMMERCIAL BUILDINGS

                6.2.2.4    AGRICULTURE

                6.2.2.5    HEALTHCARE

                6.2.2.6    OTHERS

            6.2.3    BY GEOGRAPHY

                6.2.3.1    NORTH AMERICA

                6.2.3.2    EUROPE

                6.2.3.3    ASIA-PACIFIC

                6.2.3.4    REST OF THE WORLD

7    COMPETITIVE ANALYSIS

      7.1    MARKET SHARE ANALYSIS

      7.2    COMPANY PROFILES

            7.2.1    IBM CORPORATION (U.S.) 

            7.2.2    ACCENTURE (IRELAND)

            7.2.3    COGNIZANT (U.S.)

            7.2.4    ORACLE CORPORATION (U.S)

            7.2.5    ZONOFF INC. (U.S.)

            7.2.6    CAPGEMINI (FRANCE)

            7.2.7    SAP SE (GERMANY)

            7.2.8    LEXISNEXIS (U.S.)

            7.2.9    LEMONADE INC. (U.S.)

            7.2.10     OTHERS

LIST OF TABLES

TABLE 1        INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY TYPE

TABLE 2        INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY END-USER

TABLE 3        INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY REGIONS 

TABLE 4        NORTH AMERICA INTERNET OF THINGS (IOT) INSURANCE MARKET, BY TYPE

TABLE 5    NORTH AMERICA INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY END-USER

TABLE 6     U.S. INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY TYPE

TABLE 7        U.S. INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY END-USER

TABLE 8        CANADA INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY TYPE

TABLE 9        CANADA INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY END-USER

TABLE 10    EUROPE INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY TYPE

TABLE 11    EUROPE INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY END-USER

TABLE 12    GERMANY INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY TYPE

TABLE 13    GERMANY INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY END-USER

TABLE 14    FRANCE INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY TYPE

TABLE 15    FRANCE INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY END-USER

TABLE 16    U.K. INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY TYPE

TABLE 17    U.K. INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY END-USER

TABLE 18    REST OF EUROPE INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY TYPE

TABLE 19    REST OF EUROPE INTERNET OF THINGS (IOT) INSURANCE MARKET, BY END-USER

TABLE 20    ASIA-PACIFIC INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY TYPE

TABLE 21    ASIA-PACIFIC INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY END-USER

TABLE 22    ROW NTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY TYPE

TABLE 23    ROW INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY END-USER



LIST OF FIGURES

FIGURE 1    RESEARCH NETWORK SOLUTION

FIGURE 2    INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET: BY TYPE (%)

FIGURE 3    INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET: BY END-USER (%)

FIGURE 4    INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET: BY REGION 

FIGURE 5    NORTH AMERICA INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY TYPE (%)

FIGURE 6    NORTH AMERICA INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY END-USER (%)

FIGURE 7    EUROPE INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY TYPE (%)

FIGURE 8    EUROPE INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY END-USER (%)

FIGURE 9    ASIA-PACIFIC INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY TYPE (%)

FIGURE 10    ASIA-PACIFIC INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY END-USER (%)

FIGURE 11    ROW INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY TYPE (%)

FIGURE 12    ROW INTERNET OF THINGS (IOT) INSURANCE TYPES MARKET, BY END-USER (%)