Post Covid-19 Update: Iot Insurance Market To Reach USD 229.5 Billion By 2027 | CAGR 59.4% — Forencis Research

  • According to the new market research report “IoT INSURANCE MARKET Solution Type (Customer Centricity, Product Agility, Business Networks, Profit and Risk Control and Finance, Investments, and Compliance), by Type (Home Insurance, Life Insurance, Health Insurance, Travel Insurance, and Others), by Application Type (Business & Enterprise, Travel, Automotive and Transportation, Healthcare, Consumer Electronics, and Industrial Machines, Agriculture, and Others), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) — Global Forecast (2020 to 2027)”, the global IoT insurance market is estimated to reach USD 229.5 Billion by 2027 at a CAGR of around 59.4% during the review period.
  • Advancement in IoT technology helps to improve efficiency at a higher level of management, overall profitability of the business and to reduce the risk is a key factor driving the demand for the IoT insurance market.
  • However, data security and fraud issues remain a major restraining factor for the growth of the IoT insurance market
  • Increasing demand for cloud helps to collects and analyzes the data which are projected to boost the growth of the market in the forecast period.
  • Internet of Things advance can be realized for the overall products and lines of business from commercial to life, property and casualty and health is excepted to enhance the growth of the market during the projected period.
  • The huge number of data that is transferred between the insurance company creates a risk factor that may lead to cybercrime. Hence it is anticipated to hinder the growth of the market in the future.
  • Enhancing growth for health insurance processes helps the customers to reduce the risk of incidents and help insurers lower the number of claims which is projected to boost the growth of the market.
  • Asia-Pacific
  • Europe
  • IBM Corporation:
  • Oracle:

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