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モノのインターネット(IoT)の保険市場:タイプ毎、自動車交通運輸・家庭/商業ビル・生命健康・ビジネス企業・家電・旅行・農業毎、地域毎 - 2022年までの世界市場予測

IoT Insurance Market by Type (P&C, Health, Life), Application (Automotive & Transportation, Home & Commercial Buildings, Life & Health, Business & Enterprise, Consumer Electronics, Travel, Agriculture), and Geography - Global Forecast to 2022

 

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MarketsandMarkets
マーケッツアンドマーケッツ
2017年1月US$5,650
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112 46

サマリー

幅広い市場に関する調査レポートを出版しているマーケッツアンドマーケッツ(MarketsandMarkets)のモノのインターネット(IoT)の保険市場に関する調査レポートです。

“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 USD 42.76 billion by 2022, growing at a CAGR of 65.89% between 2016 and 2022. A key driving factor for the growth of the market is the growing adoption of Internet of Things (IoT) for various insurance applications such as health, life, automobiles, travel, and agriculture sectors, among others. The IoT-enabled devices provide intelligent data for insurers to monitor and track the status and monitor data that helps insurers to manage claims and reduce risks.    

“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 Asia-Pacific region has increased the demand for IoT insurance in the region. The major investments in new innovations and IoT technologies in developing economies of APAC region drive the IoT insurance market.

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%
- By Region: North America - 45%, APAC - 30%, Europe - 20%, and RoW - 5%

The key players offering various products and services in the IoT insurance market include International Business Machines Corporation (U.S.), SAP SE (Germany), Oracle Corporation (U.S.), Microsoft Corporation (U.S.), Google Inc. (U.S.), LexisNexis Risk Solutions (U.S.), Zonoff, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Accenture PLC (Ireland), Concirus (U.K.) and Verisk Analytics, Inc. (U.S.). Also, the insurance companies that have implemented IoT for various applications include AXA Insurance (France), American Family Insurance (U.S.), American International Group, Inc. (U.S.), Allianz SE (Germany), Berkshire Hathaway Inc. (U.S.), and Zurich Insurance Group Ltd. (Switzerland).

Research Coverage

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: North America, Europe, APAC, Middle East and Africa, and Latin America. The political, economic, social, and technological (PEST) factors analysis has been included in the report along with the description of each of its factors and their impact on the said market.

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.



目次

TABLE OF CONTENTS

1 INTRODUCTION 11
1.1 OBJECTIVES OF THE STUDY 11
1.2 MARKET DEFINITION 11
1.3 STUDY SCOPE 12
1.3.1 MARKETS COVERED 12
1.3.2 GEOGRAPHICAL SCOPE 12
1.3.3 YEARS CONSIDERED FOR THE STUDY 13
1.4 CURRENCY AND PRICING 13
1.5 LIMITATIONS 13
1.6 STAKEHOLDERS 14

2 RESEARCH METHODOLOGY 15
2.1 RESEARCH DATA 15
2.1.1 SECONDARY DATA 16
2.1.1.1 Key data from secondary sources 16
2.1.2 PRIMARY DATA 17
2.1.2.1 Key data from primary sources 17
2.1.2.2 Key industry insights 18
2.1.2.3 Breakdown of primaries 18
2.2 MARKET SIZE ESTIMATION 19
2.2.1 BOTTOM-UP APPROACH 19
2.2.2 TOP-DOWN APPROACH 20
2.3 MARKET BREAKDOWN & DATA TRIANGULATION 21
2.4 RESEARCH ASSUMPTIONS 22
2.4.1 ASSUMPTIONS 22

3 EXECUTIVE SUMMARY 23

4 MARKET OVERVIEW 26
4.1 INTRODUCTION 26
4.2 MARKET SEGMENTATION 26
4.2.1 IOT INSURANCE MARKET, BY INSURANCE TYPE 26
4.2.2 IOT INSURANCE MARKET, BY INSURANCE APPLICATION 27
4.2.3 IOT INSURANCE MARKET, BY GEOGRAPHY 28
4.3 MARKET DYNAMICS 28
4.3.1 DRIVERS 29
4.3.1.1 Growing adoption of Internet of Things (IoT) products in developed and developing economies 29
4.3.1.2 Growing demand of cloud platform and other value added services in insurance industry 29
4.3.1.3 Reduction in premium and risk related costs 30
4.3.1.4 IoT enabled devices improves the insurance services 30
4.3.2 RESTRAINTS 30
4.3.2.1 Communication standards and data privacy concerns 30
4.3.3 OPPORTUNITIES 31
4.3.3.1 Increasing need of insurance for various IoT enabled applications such as automobiles, healthcare, life, home and commercial setors 31
4.3.3.2 New developments in the insurance models 31
4.3.3.3 Data generated from IoT improves business intelligence in the insurance industry 31
4.3.3.4 Increasing investments in IoT Insurance startups 32
4.3.4 CHALLENGES 32
4.3.4.1 Problem posed by legacy systems, and lack in customer engagement, awareness, skills, and procurement policies 32
4.4 REGULATORY IMPLICATIONS 33

5 INDUSTRY TRENDS 34
5.1 INTRODUCTION 34
5.2 VALUE CHAIN ANALYSIS 34
5.3 INDUSTRY TRENDS 35
5.3.1 NEW REVENUE STREAMS AND PRODUCT OPPORTUNITIES 35
5.3.1.1 Strategic planning initiatives 35
5.3.1.2 Building strong relation between policyholder and insurer 35
5.3.1.3 Risk modules that moves from reactive compensation to proactive protection 36
5.3.2 TECHNOLOGICAL INNOVATIONS 36
5.4 PEST ANALYSIS 37
5.4.1 POLITICAL FACTORS 37
5.4.2 ECONOMIC FACTORS 37
5.4.3 SOCIAL FACTORS 37
5.4.4 TECHNOLOGICAL FACTORS 38

6 IOT INSURANCE MARKET, BY INSURANCE TYPE 39
6.1 INTRODUCTION 39
6.2 PROPERTY AND CASUALTY (P&C) INSURANCE 39
6.2.1 IOT IN PROPERTY AND CASUALTY (P&C) INSURANCE: CASE STUDY 40
6.3 HEALTH INSURANCE 40
6.3.1 IOT IN HEALTH INSURANCE: CASE STUDY 41
6.4 LIFE INSURANCE 42
6.4.1 IOT IN LIFE INSURANCE: CASE STUDY 43
6.5 OTHERS 43
6.5.1 WARRANTY INSURANCE 43
6.5.2 FARMERS INSURANCE 44
6.5.3 CYBER INSURANCE 44
6.5.4 PET INSURANCE 44
6.5.5 SAVINGS AND INVESTMENTS INSURANCE 44
6.5.6 PENSION INSURANCE 44

7 IOT INSURANCE MARKET, BY INSURANCE APPLICATION 45
7.1 INTRODUCTION 46
7.2 AUTOMOTIVE AND TRANSPORTATION 47
7.2.1 CONNECTED CARS 48
7.2.2 FLEET MANAGEMENT 48
7.2.3 INSURANCE TELEMATICS 48
7.2.4 STOLEN VEHICLE RECOVERY 48
7.2.5 SUPPLY CHAIN OPTIMIZATION AND INVENTORY MANAGEMENT 48
7.2.6 LOGISTIC AND NAVIGATION 49
7.3 HOME AND COMMERCIAL BUILDINGS 49
7.3.1 CONNECTED HOME 50
7.3.2 SECURITY AND EMERGENCY 50
7.3.3 PROACTIVE LOSS PREVENTION 50
7.4 LIFE AND HEALTH 51
7.4.1 PATIENT HEALTH MONITORING 52
7.4.2 CONNECTED HEALTHCARE 52
7.4.3 LIFESTYLE AND FITNESS MONITORING 52
7.5 BUSINESS AND ENTERPRISE 53
7.5.1 PROFILE AUTHENTICATION AND VERIFICATION 53
7.5.2 BUSINESS-SPECIFIC RISKS AND FRAUD MITIGATION 53
7.5.3 WORKFORCE MANAGEMENT 53
7.6 CONSUMER ELECTRONICS AND INDUSTRIAL MACHINES 54
7.6.1 PRODUCT BASED DIAGNOSTICS 54
7.6.2 WARRANTY MANAGEMENT 54
7.7 TRAVEL 55
7.7.1 SITUATIONAL AWARENESS 55
7.8 AGRICULTURE 56
7.8.1 LIVESTOCK MONITORING 57
7.8.2 CLIMATE MONITORING AND FORECASTING 57

8 IOT INSURANCE MARKET, BY GEOGRAPHY 58
8.1 INTRODUCTION 59
8.2 NORTH AMERICA 60
8.3 EUROPE 61
8.4 ASIA PACIFIC 61
8.5 REST OF THE WORLD (ROW) 62

9 COMPETITIVE LANDSCAPE 63
9.1 INTRODUCTION 63
9.2 RANKING OF TOP 5 PLAYERS IN THE IOT INSURANCE MARKET 64
9.3 COMPETITIVE ANALYSIS 64
9.4 RECENT DEVELOPMENTS 66
9.4.1 NEW PRODUCT LAUNCHES & DEVELOPMENTS: IOT INSURANCE MARKET 66
9.4.2 PARTNERSHIPS, COLLABORATION & JOINT VENTURES: IOT INSURANCE MARKET 68
9.4.3 MERGERS & ACQUISITION: IOT INSURANCE MARKET 70
9.4.4 OTHERS 71

10 COMPANY PROFILE 72
(Company at a Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)*
10.1 INTRODUCTION 72
10.2 INTERNATIONAL BUSINESS MACHINES CORPORATION 73
10.3 SAP SE 76
10.4 ORACLE CORPORATION 80
10.5 GOOGLE INC. 83
10.6 MICROSOFT CORPORATION 86
10.7 CISCO SYSTEMS INC. 89
10.8 ACCENTURE PLC 91
10.9 VERISK ANALYTICS, INC. 94
10.10 CONCIRRUS 96
10.11 LEXISNEXIS 97
10.12 ZONOFF, INC. 99
*Details on company at a glance, recent financials, products & services, strategies & insights, & recent developments might not be captured in case of unlisted companies.

11 INSURANCE COMPANIES OUTLOOK 101
11.1 AXA INSURANCE 101
11.1.1 OVERVIEW: 101
11.1.2 KEY STRATEGIESFOR IOT INSURANCE : 101
11.2 AMERICAN FAMILY INSURANCE 102
11.2.1 OVERVIEW: 102
11.2.2 KEY STRATEGIESFOR IOT INSURANCE : 102
11.3 AMERICAN INTERNATIONAL GROUP, INC. 103
11.3.1 OVERVIEW: 103
11.3.2 KEY STRATEGIES FOR IOT INSURANCE : 103
11.4 ALLIANZ SE 104
11.4.1 OVERVIEW: 104
11.4.2 KEY STRATEGIES FOR IOT INSURANCE : 104
11.5 BERKSHIRE HATHAWAY INC. 105
11.5.1 OVERVIEW: 105
11.5.2 KEY STRATEGIES FOR IOT INSURANCE : 105
11.6 ZURICH INSURANCE GROUP LTD. 106
11.6.1 OVERVIEW: 106
11.6.2 KEY STRATEGIES FOR IOT INSURANCE: 106

12 APPENDIX 107
12.1 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 107
12.2 INTRODUCING RT: REAL TIME MARKET INTELLIGENCE 109
12.3 AUTHOR DETAILS 110


LIST OF TABLES

TABLE 1 IOT INSURANCE MARKET SIZE AND GROWTH, 2013-2022 (USD MILLION, Y-O-Y %) 23
TABLE 2 GLOBAL IOT INSURANCE MARKET SIZE BY INSURANCE APPLICATIONS,
2013-2022 (USD MILLION) 46
TABLE 3 AUTOMOTIVE AND TRANSPORTATION MARKET SIZE BY GEOGRAPHY,
2013-2022 (USD MILLION) 47
TABLE 4 HOME AND COMMERCIAL BUILDINGS MARKET SIZE BY GEOGRAPHY,
2013-2022 (USD MILLION) 49
TABLE 5 LIFE AND HEALTH MARKET SIZE BY GEOGRAPHY, 2013-2022 (USD MILLION) 51
TABLE 6 BUSINESS AND ENTERPRISE MARKET SIZE BY GEOGRAPHY,
2013-2022 (USD MILLION) 53
TABLE 7 CONSUMER ELECTRONICS AND INDUSTRIAL MACHINES MARKET SIZE
BY GEOGRAPHY, 2013-2022 (USD MILLION) 54
TABLE 8 TRAVEL MARKET SIZE BY GEOGRAPHY, 2013-2022 (USD MILLION) 55
TABLE 9 AGRICULTURE MARKET SIZE BY GEOGRAPHY, 2013-2022 (USD MILLION) 56
TABLE 10 GLOBAL IOT INSURANCE MARKET SIZE, BY GEOGRAPHY, 2013-2022 (USD MILLION) 59
TABLE 11 RANKING OF TOP 5 PLAYERS IN THE IOT INSURANCE MARKET 64
TABLE 12 NEW PRODUCT LAUNCHES & DEVELOPMENTS, 2013-2016 66
TABLE 13 PARTNERSHIPS, JOINT VENTURES, COLLABORATIONS, AND EXPANSIONS,
2013-2016 68
TABLE 14 MERGERS & ACQUISITION, 2013-2016 70
TABLE 15 OTHERS, 2013-2016: IOT INSURANCE MARKET 71


LIST OF FIGURES

FIGURE 1 OVERVIEW OF MARKETS COVERED 12
FIGURE 2 IOT INSURANCE MARKET: RESEARCH DESIGN 15
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 19
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 20
FIGURE 5 ASSUMPTIONS OF THE RESEARCH STUDY 22
FIGURE 6 THE AUTOMOTIVE AND TRANSPORTATION APPLICATION IS EXPECTED TO WITNESS THE HIGHEST GROWTH RATE DURING THE FORECAST PERIOD 24
FIGURE 7 NORTH AMERICA HELD THE HIGHEST MARKET SHARE FOR IOT INSURANCE IN 2015 25
FIGURE 8 IOT INSURANCE MARKET, BY GEOGRAPHY 28
FIGURE 9 DEMAND OF CLOUD PLATFORM AND OTHER VALUE ADDED SERVICES IN INSURANCE INDUSTRY WOULD DRIVE THE MARKET 28
FIGURE 10 VALUE CHAIN OF IOT INSURANCE MARKET 35
FIGURE 11 AGRICULTURE APPLICATION IN IOT INSURANCE MARKET HELD THE HIGHEST CAGR DURING FORECAST PERIOD 47
FIGURE 12 LIFE AND HEALTH MARKET IN NORTH AMERICA HELD THE HIGHEST SHARE IN 2015 51
FIGURE 13 AGRICULTURE MARKET SIZE IS EXPECTED TO GROW AT HIGHEST CAGR IN APAC REGION 57
FIGURE 14 GEOGRAPHIC SNAPSHOT: IOT INSURANCE MARKET HAS HIGH GROWTH RATE IN DEVELOPING ECONOMIES 59
FIGURE 15 NORTH AMERICA IS EXPECTED TO HAVE A MAJOR SHARE OF IOT INSURANCE MARKET IN 2015 60
FIGURE 16 COMPANIES ADOPTED STRATEGIC ALLIANCES AS THE KEY GROWTH STRATEGY BETWEEN 2013 AND 2016 63
FIGURE 17 MARKET EVALUATION FRAMEWORK: (2014-2016) 64
FIGURE 18 BATTLE FOR MARKET SHARE FOR IOT INSURANCE: NEW PRODUCT LAUNCHES & DEVELOPMENTS AND PARTNERSHIPS WERE THE KEY STRATEGIES 65
FIGURE 19 INTERNATIONAL BUSINESS MACHINES CORPORATION: COMPANY SNAPSHOT 73
FIGURE 20 INTERNATIONAL BUSINESS MACHINES CORPORATION: SWOT ANALYSIS 75
FIGURE 21 SAP SE: COMPANY SNAPSHOT 76
FIGURE 22 SAP SE: SWOT ANALYSIS 79
FIGURE 23 ORACLE CORPORATION: COMPANY SNAPSHOT 80
FIGURE 24 ORACLE CORPORATION: SWOT ANALYSIS 82
FIGURE 25 GOOGLE INC.: COMPANY SNAPSHOT 83
FIGURE 26 GOOGLE INC.: SWOT ANALYSIS 85
FIGURE 27 MICROSOFT CORPORATION: COMPANY SNAPSHOT 86
FIGURE 28 MICROSOFT CORPORATION: SWOT ANALYSIS 88
FIGURE 29 CISCO SYSTEMS INC.: COMPANY SNAPSHOT 89
FIGURE 30 ACCENTURE PLC: COMPANY SNAPSHOT 92
FIGURE 31 VERISK ANALYTICS, INC.: COMPANY SNAPSHOT 94
 

 

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プレスリリース

[プレスリリース原文]

IoT Insurance Market worth 42.76 Billion USD by 2022


January 30, 2017

According to the new report "IoT Insurance Market by Type (P&C, Health, Life), Application (Automotive & Transportation, Home & Commercial Buildings, Life & Health, Business & Enterprise, Consumer Electronics, Travel, Agriculture), and Geography - Global Forecast to 2022", the global IoT insurance market is expected to be worth USD 42.76 Billion by 2022, growing at a CAGR of 65.89% between 2016 and 2022. Factors such as the growing adoption of Internet of Things (IoT) products in developed and developing economies, increase in the demand for cloud platforms and value-added services in insurance industries, and reduction in the cost of premium policies are the key drivers for the adoption of IoT solutions and services in insurance industries.

Automobile and transportation market held the largest market share in 2015

IoT has a huge impact on auto insurance industries. The growing adoption of IoT-enabled devices in Global Positioning Systems (GPS), in-built sensors, and other detectors would increase the need for new IoT-based technologies in the insurance industry to gather data such as speed, braking pattern, and other driving behavior. Also, the IoT platforms offer quick access to the underwriting process and claim management for the insurer. These benefits contribute to the growth of the market for automobile and transportation in the IoT insurance market.

IoT devices for agriculture insurance application protect farmers from environmental risks and help them protect their land and manage livestock

The market for the agriculture insurance application of the IoT insurance market is expected to grow at the highest CAGR during the forecast period. In the agriculture application, IoT insurance offers easy livestock monitoring and insurers can monitor environmental conditions and alert farmers about upcoming hazards such as hailstorms, floods, and earthquakes. The growing use of drones and Wi-Fi–enabled devices in developing economies such as China, Japan, and India increases the need for IoT insurance products for data analytics and big data platforms. This enables insurers to protect their crops and lands from damage and also manage claim process quickly.

North America held the largest share of the market in 2015 due to the presence of major IoT vendors in the region

Major IoT vendors such as IBM Corporation (U.S.), Cisco Systems Inc. (U.S.), Microsoft Corporation (U.S.), and Oracle Corporation (U.S.), among others have been developing IoT devices, software, and services for insurance industries. Hence, it would help in the growth of the North American IoT insurance market. The IoT insurance market for the automotive and transportation application held the largest market share in 2015. Additionally, auto insurance companies have adopted telematics in usage-based insurance, which is used to gather historical data of speed, distance travelled, braking pattern, and turning of vehicles. The data from various automobiles is analyzed by insurance industries to price the premiums.

 

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