AdvanceMarketAnalytics, a global market research and consulting organization, have released a new study titled "Internet of Things in Insurance market - Global outlook to 2024". Industries constant focus on reducing the operational cost and increased attention on core business, and need to improve scalability are expected to shape the Global Internet of Things in Insurance market.
The End users, such as Automotive, is boosting the Internet of Things in Insurance market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
The Insurance Type, such as Property & Casualty Insurance, is boosting the Internet of Things in Insurance market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
According to AMA research team, the Global Internet of Things in Insurance market will experience significant growth during the forecast period due to potential opportunities lying in the market such as . Some of the important driving forces are Demand for IoT based Devices in the Insurance Industry, Owing to the Adoption of IoT in and Growth in Cloud Computing Services and Advancement in Technology leading to Identify New ways to Connect with Consumers. †
Internet of things (IoT) provides a large amounts of real-time data which demands strong infrastructure offered by IoT manufacturers. Internet of Things (IoT) Insurance is market is divided on the basis of type of insurance and end-users. The IoT enabled devices help insurer to provide data, which can be deployed to reduce risk, manage claims and identify frauds. Easy settlement of claims, creation of analytical value from obtained data, and development of flexible insurance products are few advantages of IoT in insurance technology. Further, the growing adoption of Internet of Things (IoT) in developed and emerging economies, growing need for cloud platform and other value-added services in the insurance industry are driving the global IoT in insurance market.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Internet of Things in Insurance market , by Application (Automotive & Transportation, Home & Commercial Building, Life & Health, Business & Enterprise, Consumer Electronics & Industrial Machines, Travel and Agriculture) and major geographies with country level break-up that includes South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key trends (current and future) of the market