Technology in IoT Insurance Market shares forecast to witness considerable growth from 2020 to 2028

The global IoT insurance market is predicted to be valued at US$402,990.0 million by 2028, surging from $13,540.0 million in 2020 at a noteworthy CAGR of 54.4%.

Impact Analysis of COVID-19 on the IoT Insurance Market

The coronavirus outbreak impacted the IoT insurance market positively. Most of the places were shut down due to the spread of the coronavirus. The fear of coronavirus among the people increased the demand of insurance, which is predicted to boost the IoT insurance market at the time of pandemic. Most of the insurance organizations have also implemented cloud services to a huge extent to track customer health with the help of connected devices. All these factors are predicted to boost the IoT insurance market during the pandemic.

Global IoT Insurance Market Analysis

Most of the businesses rely on IT and networks vastly. The funds required to maintain these networks cost too much for the organizations. At present, the organizations outsource the maintenance of these materials to stakeholders who work using cloud services. Developments in cloud services with the help of connected devices is predicted to be the major driving factor for the global IoT insurance market in the estimated period. Moreover, increase in the adoption of IoT in banking and finance sector is predicted to be the major driving factor for the global market in the estimated period.

However, the lack of skilled operators to monitor and manage IoT insurances is predicted to hinder the market in the projected timeframe. Moreover, cost factor is also considered as one of the major restraints for the global IoT insurance market in the estimated period.

Get more COVID-19 Impact Insights. Connect with our Expert Analyst@ https://www.researchdive.com/connect-to-analyst/8411

Global IoT Insurance Market, Segmentation

The global IoT insurance market is segmented based on type, application, and region.

Insurance Type:

The insurance type segment is further classified into life insurance, property & casualty (P&C) insurance, health insurance and others. Among these, the life insurance sub-segment is anticipated to have the maximum growth rate in the forecast period. It has been estimated that the sub-segment will grow with a CAGR of 55.2% by generating a revenue of $99,950.6 million by 2028. Increasing demand of life insurance for securing the life and securing the family future is predicted to be the major driving factor for the sub-segment market in the estimated period.

Application:

The application segment is further divided into automotive transportation & logistics, life & health, commercial & residential buildings, business & enterprise, agriculture, and others. The life & health sub-segment is anticipated to have the highest growth rate in the global market. It has been estimated that the market will grow with at a CAGR of 55.2% by generating a revenue of $ 96,821.8 million by 2028. Health and life insurance helps pay for medical expenses such as doctor's visits, hospital stays, medications, tests, and procedures.

Region:

The IoT insurance market for the Asia-Pacific region is projected to witness rapid growth. This market is projected to generate a revenue of $102,359.5 million by 2028 with a CAGR of 55.5% in the estimated period. Asia-Pacific region market is predicted to be the biggest market for the IoT insurance market in the forecast period. Shifting of majority of companies to Asia-Pacific region is predicted to drive the market in the estimated period. Moreover, low labor cost, highly skilled labor, and various government initiatives are predicted to boost the region market in the estimated period.

Request an PDF Sample of IoT Insurance Market@ https://www.researchdive.com/download-sample/8411

Key Players in the Global IoT Insurance Market

SAP SE
Cisco Systems Inc.
Alphabet
International Business Machines Corporation
Accenture PLC
Microsoft Corporation
Oracle Corporation
Aeris Group Ltd
Concirrus
Telit

Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.

Collaborative Robot (Cobot) Market Insights Deep Analysis 2022-2030

With the advancements in technology, robotics is becoming available at a price that suits the pockets of even smaller as well as bigger companies. All thanks to the development of low-cost components, which have paved way for the upsurge of the collaborative robots or cobots .Collaborative robots are intended to collaborate with humans at work sites, and hence making automation a trouble-free job for businesses of all sizes. By now, cobots have been seen as a game-changer for a wide variety of applications. W hy cobots over traditional robots? The new robotics technology is outdoing the weighty, daunting robots usually locked in the cages for security reasons. Now, it’s time to make use of cobots in those heavy industrial tasks! These robots are quite affordable, safe, and flexible to deploy. They are programmed to work in collaboration with humans and not under humans—unlike traditional robots. With these advanced-automated robots, you can forget the cages and make way for proper

Contactless Payment Market size share growth analysis market demand

Contactless payment, also called as a tap-and-go system is a secure mode where the transactions are done using technologies such as NFC (near field communication), RFID (radio frequency identification), infrared, and bluetooth. Contactless payment is hassle-free and convenient for customers as it takes only one-tenth of the time taken by the old-style electronic transaction.Contactless payment is becoming popular owing to its benefits such as secure and fast payments without any need for cash or identifying details. Initially, these type of payments or cards were used for the purpose oftravelling tickets only. But today, this technology has evolved and is helping customers to make payments for almost anything. However, the permissible amount for a contactless payment varies by country and by the bank. Access to PDF Sample Report Here! @ https://www.researchdive.com/download-sample/181 Recent Developments in the Contactless Payment Industry As per a Research Dive blog, the digital e

Development: Aerospace 3D Printing Market Strategy Planning by Top Manufacturers

Aerospace 3D Printing Market Analysis 2026: According to a study of the Research Dive, aerospace 3D printing market forecast shall cross $5,933.4 million by 2026 , growing at a CAGR of 26.8% during forecast period. Aerospace 3D printing is primarily used to increase the efficiency of A&D supply chain, reduction of storage costs of inventory and waste production materials. Furthermore, the Aerospace 3D printing industry is focusing more on creating parts of aircraft that are lighter and stronger than parts made by using traditional manufacturing. Astonishing advantages of 3D printings in the supply chain of the aerospace and defense industry are projected to surge in the global market. In addition, the financial support provided by the government and non-government organizations across the globe is also driving the 3D printing in aerospace industry. For instance, National Aerospace Technology Exploitation Programme grants £140,000 funds for UK based company Sigma Components

Industrial Research World

Search This Blog