Fintech PR
IoT Insurance Market to reach $686.9 Billion, Globally, by 2032 at 36.4% CAGR: Allied Market Research
![iot-insurance-market-to-reach-$6869-billion,-globally,-by-2032-at-36.4%-cagr:-allied-market-research](https://thefintechbuzz.com/wp-content/uploads/2023/09/44238-iot-insurance-market-to-reach-6869-billion-globally-by-2032-at-36-4-cagr-allied-market-research.jpg)
The global IoT insurance market growth is driven by the rise in the adoption of IoT in developed and developing economies, an increase in demand for cloud platforms and other value-added services in the insurance industry, and a surge in investment in IoT by insurance companies.
PORTLAND, Ore., Sept. 7, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “IoT Insurance Market by Component (Solution and Service), Insurance Type (Life and Health Insurance, Property and Casualty Insurance, and Others), Application (Automotive, Transportation, and Logistics, Life and Health, Commercial and Residential Buildings, Business and Enterprise, Agriculture, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2032.” According to the report, the global IoT insurance industry generated $31.5 billion in 2022 and is estimated to reach $686.9 billion by 2032, witnessing a CAGR of 36.4% from 2023 to 2032.
Request PDF Sample: https://www.alliedmarketresearch.com/request-sample/10149
IoT insurance refers to the use of Internet of Things (IoT) devices by insurance companies to collect, transmit, and share essential information about insurers. Insurance service providers also benefit from the use of IoT devices to improve employee and organizational productivity and their knowledge of risk management. In addition, it provides many benefits to end users, including improved claim management services, faster risk management services, and reduced operating costs for the company during the claim settlement management service. With the growing trend of the Internet of Things (IoT) in health insurance and IoT marine insurance, it is being adopted across the world.
Prime Determinants of Growth:
The global IoT insurance market growth is driven by the rise in the adoption of IoT in developed and developing economies, an increase in demand for cloud platforms and other value-added services in the insurance industry, and a surge in investment in IoT by insurance companies. However, security and privacy issues regarding the personal information of customers and a lack of skills among workers regarding the use of IoT devices restrict the growth of the market. However, an increase in the adoption of advanced technologies such as machine learning and artificial intelligence in the insurance industry is expected to offer remunerative opportunities for expansion of the global market during the forecast period.
Report Coverage & Details:
Report Coverage |
Details |
Forecast Period |
2023–2032 |
Base Year |
2022 |
Market Size in 2022 |
$31.5 Billion |
Market Size in 2032 |
$686.9 Billion |
CAGR |
36.4 % |
No. of Pages in Report |
344 |
Segments Covered |
Component, Insurance Type, Application, and Region |
Drivers |
Rise in adoption of IoT in developed and developing economies |
Growth in demand of cloud platform and other value-added services in insurance industry |
|
Surge in investment in IoT by insurance companies |
|
Opportunities |
Surge in need of insurance for various IoT enabled applications |
Restraints |
Security and privacy issues |
Lack of knowledge among workers |
COVID-19 Scenario:
- The COVID-19 pandemic had a significant impact on the global IoT insurance market. This is due to IoT devices, such as health monitoring wearables (smartwatches, fitness trackers) that gained prominence during the pandemic.
- The insurance sector has witnessed a significant surge in demand, especially in health and related segments. Therefore, many industries have increased their investment in IoT solutions, especially healthcare, which further expands the scope of study and market growth.
The solution segment to maintain its leadership status throughout the forecast period-
Based on component, the solution segment held the highest market share in 2022, accounting for more than two-thirds of the global IoT insurance market revenue, and is estimated to maintain its leadership status throughout the forecast period. Due to the rise in large number of IoT devices and the surge in the need for IoT technology solutions in various organizations to identify, monitor, evaluate, and access different types of risks before their occurrence is anticipated to boost businesses and organizations to adopt policy. However, the service segment is projected to manifest the highest CAGR of 39.1% from 2023 to 2032. This is because it helps insurers provide better policies to the end user throughout the life of the policy with improved risk management, cutting costs by lowering premiums, and improving insurance companies’ business processes.
Buy this Research Report (344 Pages PDF with 125 Tables, 60+ Charts): https://bit.ly/3ErY1hC
The life and health insurance segment to maintain its lead position throughout the forecast period-
Based on insurance type, the life and health insurance segment held the highest market share in 2022, accounting for more than two-thirds of the global IoT insurance market revenue, and is projected to maintain its lead position throughout the forecast period. Owing to the increase in adoption of internet-connected medical devices such as smartwatches, smartphones, and fitness trackers, which constantly collect user data and track their behavior or lifestyle. However, the property and casualty insurance segment is projected to manifest the highest CAGR of 39.5% from 2023 to 2032. This is due to an increase in the adoption of machine-to-machine (M2M) communication products, the implementation of anti-lock brake systems to attain faster communication with vehicle users, and an increase in awareness among policyholders.
The automotive, transportation, and logistics segment to rule the roost by 2032-
Based on application, the automotive, transportation, and logistics segment held the highest market share in 2022, contributing to nearly two-fifths of the global IoT insurance market revenue, and is projected to rule the roost by 2032. Owing to the integration of IoT technology with telematics devices to monitor all aspects of an automobile, such as general car condition, tire condition, brake condition, and car temperature with just a simple command on a screen. However, the business and enterprise segment is projected to manifest the highest CAGR of 41.4% from 2023 to 2032. Owing to the increase in the adoption of intelligent automation and smart building technologies, it boosts the IoT insurance market.
Asia-Pacific region to maintain its dominance by 2032-
Based on region, the North America segment held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global IoT insurance market. Owing to the presence of many insurance companies across the U.S. and Canada and availability of technologically advanced IoT devices as well as high-speed Internet connection across the region. However, the Asia-Pacific region is expected to maintain its dominance during the forecast period. The same region would showcase the fastest CAGR of 40.1% from 2023 to 2032. This is due to an increase in the use of IoT devices such as drones, Wi-Fi dongles, wearables devices, and built-in sensors among end-users that provide informative data.
Leading Market Players: –
- International Business Machines Corporation
- Cisco Systems, Inc.
- Oracle Corporation
- SAP SE
- Microsoft Corporation
- Intel Corporation
- Google LLC
- Telit
- Accenture
- Synechron
The report provides a detailed analysis of these key players in the global IoT insurance market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Want to Access the Statistical Data & Graphs, and Key Players’ Strategies: https://www.alliedmarketresearch.com/iot-insurance-market/purchase-options
Trending Reports in BFSI Industry:
Decentralized Insurance Market by Type (Life Insurance, Non-life Insurance), by End User (Businesses, Individuals): Global Opportunity Analysis and Industry Forecast, 2023-2032
On-Demand Insurance Market by Coverage (Travel Insurance, Event Insurance, Renter’s Insurance, Electronic Equipment Insurance, Others), by End User (Individuals, Businesses): Global Opportunity Analysis and Industry Forecast, 2023-2032
Car Insurance Aggregators Market by Insurance Type (Third Party Liability Insurance, Comprehensive Car Insurance, Others), by Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises), by Application (Personal, Commercial): Global Opportunity Analysis and Industry Forecast, 2022-2031
Takaful Insurance Market By Distribution Channel (Agents & Brokers, Banks, Direct Response and Others), Type (Family Takaful and General Takaful), and Application (Personal and Commercial): Global Opportunity Analysis and Industry Forecast, 2021-2030
Internet of Things (IoT) based General Insurance Market by Type (Property Casuality (PC) Insurance, Health Insurance, Life Insurance, Others) and by Application (Automotive Transportation, Home Commercial Buildings, Life Health, Consumer Electronics, Agriculture): Global Opportunity Analysis and Industry Forecast, 2023-2032
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
[email protected]
Logo – https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/iot-insurance-market-to-reach-686-9-billion-globally-by-2032-at-36-4-cagr-allied-market-research-301920831.html
Fintech PR
Board the TOKEN2049 Treasure Express With Bybit and Dive Into an $80,000 Prize Pool
![board-the-token2049-treasure-express-with-bybit-and-dive-into-an-$80,000-prize-pool](https://thefintechbuzz.com/wp-content/uploads/2024/09/54690-board-the-token2049-treasure-express-with-bybit-and-dive-into-an-80000-prize-pool.jpg)
DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, set out to make the community’s TOKEN2049 journey more rewarding. Gearing up for the most anticipated blockchain and Web3 event in the region, Bybit is thrilled to announce three bonus events to enable both attendees and remote fans to both be part of the experience.
The winning opportunities are open to both attendees of TOKEN2049 and followers from afar. Through trading and offline events, participants stand to get free tickets, a share of the $80,000 prize pool in airdrops and coupons, and Bybit merchandise.
Event 1: TOKEN2049 Treasure Express
From now to Sep. 26, 2024, Bybit users may register for the event and complete tasks by depositing and trading assets to earn lucky draw tickets. The wheel of fortune will turn to one of the three prizes:
1. A pair of tickets to TOKEN2049;
2. A share of the airdrop prize pool valued at $50,000 featuring the hottest tokens, including DOGS, PEPE, SOL, XRP, TON and USDT; or
3. Up to 50 USDT in spot coupons.
Even more rewards await in referrals and social media giveaways. For details, visit: TOKEN2049 Treasure Express
Event 2: Share and Unlock
From now to Sep. 30, 2024, unleash your social media magic for a chance to win a 10 USDT spot trading coupon. Share a Bybit blog link and your thoughts on Bybit and Web3. Remember to tag @Bybit_Official and use the hashtag #UnlockWeb3Future and submit the form with us here: #UnlockWeb3Future at TOKEN2049 with Bybit
Event 3: Meet us offline at TOKEN2049
Spot our logo at TOKEN2049 and capture a photo at the Bybit booth (M50) to win Bybit merchandise. Remember to share to your social media channels and use the right hashtag. For details, visit: #UnlockWeb3Future at TOKEN2049 with Bybit
An advocate for a sustainable Web3 ecosystem, Bybit will be featured prominently at TOKEN2049 on a series of keynote panels, thought leadership and community events, and booth M50.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
Logo – https://mma.prnewswire.com/media/2267288/Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/board-the-token2049-treasure-express-with-bybit-and-dive-into-an-80-000-prize-pool-302240594.html
Fintech PR
Bybit Expands Global Reach, Receives Formal Consent for Full Authorization in Kazakhstan
![bybit-expands-global-reach,-receives-formal-consent-for-full-authorization-in-kazakhstan](https://thefintechbuzz.com/wp-content/uploads/2024/09/54692-bybit-expands-global-reach-receives-formal-consent-for-full-authorization-in-kazakhstan.jpg)
DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce it’s among the first to be granted consent to a full authorization by the Astana Financial Service Authority (AFSA). This milestone brings Bybit closer to becoming a fully regulated Digital Asset Trading Facility (DATF).
As part of a rigorous process, Bybit Kazakhstan has passed a full AML check, business conduct audit, and detailed compliance inspections. This is part of Bybit’s focus on securing new user opportunities in Kazakhstan and the broader Commonwealth of Independent States (CIS) region.
“Kazakhstan has become a key player in the global crypto ecosystem, and we are thrilled to be expanding our services in such a dynamic market,” said Ben Zhou, co-founder and CEO of Bybit. “We are committed to bringing our cutting-edge technology, security, and transparency to crypto traders in Kazakhstan, ensuring they can access the best possible tools and services to thrive in this fast-growing industry.”
Once the full license is in place, Bybit Kazakhstan will offer various digital assets related products and services. The expansion into Kazakhstan aligns with Bybit’s mission to provide reliable and transparent services, catering to the unique needs of crypto traders and investors in the region.
This development follows Bybit’s receipt of its initial operating and custody licenses from AFSA in June 2023, reinforcing its commitment to local regulatory requirements. Bybit’s ongoing efforts to strengthen its presence in Kazakhstan underscore its belief in responsible growth and ensuring a compliant and secure trading environment.
Kazakhstan has quickly emerged as a hub for crypto innovation, and Bybit is proud to play a leading role in fostering this development. For example, Bybit hosted a “Foundations of Blockchain, Web3 and Crypto Exchange Activities” course for Banks of Kazakhstan in 2024. This event was part of Bybit’s drive to make blockchain education more accessible in the CIS region.
By securing this full authorization, Bybit is poised to enhance crypto adoption, provide institutional-grade security, and offer advanced trading features to its growing regional user base.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
Logo – https://mma.prnewswire.com/media/2267288/Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/bybit-expands-global-reach-receives-formal-consent-for-full-authorization-in-kazakhstan-302240634.html
Fintech PR
Integrum ESG and CSRHub enable fund managers to monitor both long-term trends and short-term movements in ESG ratings for companies, across a 10-year time series
![integrum-esg-and-csrhub-enable-fund-managers-to-monitor-both-long-term-trends-and-short-term-movements-in-esg-ratings-for-companies,-across-a-10-year-time-series](https://thefintechbuzz.com/wp-content/uploads/2024/09/54686-integrum-esg-and-csrhub-enable-fund-managers-to-monitor-both-long-term-trends-and-short-term-movements-in-esg-ratings-for-companies-across-a-10-year-time-series.png)
LONDON, Sept. 6, 2024 /PRNewswire/ — Integrum ESG, the leading alternative ESG data provider, has today announced the launch of their Consensus ESG Ratings module.
Just as investors monitor movements in consensus earnings estimates or credit ratings, investors now are aware of the demand for the ability to monitor long-term trends and short-term movements in consensus ESG ratings.
This new feature enables Integrum ESG’s asset manager clients to now see the consensus ESG score for any company, either as an absolute rating or a relative percentile ranking, across a 10-year time series.
These scores will indicate to any investor what the capital markets have ‘priced in’ for a company’s ESG performance, allowing users to quickly understand the market’s view on a company and easily conduct relative ESG analysis on the positions they hold within their Portfolio.
This regularly updated data is provided by CSRHub, the world’s leading provider of consensus ESG ratings. CSRHub has spent years aggregating and normalising a vast range of licensed sources – from large ESG ratings firms such as MSCI, ISS, S&P Global, and Sustainalytics to specialists such as CDP and Better World Companies.
Shai Hill, Founder and CEO of Integrum ESG, commented: “Many investors have told us they want a sense of ‘what is priced in’ in terms of a company’s ESG performance, so they can compare this to what anyone ESG ratings firm is saying. CSRHub is the only firm to have credibly achieved this, thanks to a model refined over years and a vast data lake – so we are delighted to be partnering with them.”
Bahar Gidwani, Co-Founder of CSRHub, added: “Investors need to fine tune their ESG-related investment strategies to improve their returns and better match the preferences of their clients. Combining CSRHub’s expert outside-in, consensus view of ESG with Integrum ESG’s detailed real-time data stream provides a strong solution for these needs.”
About Integrum ESG
Integrum ESG is the leading alternative ESG data and ratings platform for investors, blending human analysis and award-winning artificial intelligence models to capture, verify and display granular and relevant ESG data for analysis and assessment. Their Platform allows clients to dissect ESG scores, real-time sentiment, and more with a variety of unique-to-market features, empowering industry professionals and investors and giving them complete oversight of ESG risk across their portfolio.
For more information, visit www.integrumesg.com
About CSRHub
CSRHub offers the most comprehensive global set of Consensus ESG (Environmental, Social, and Governance) ratings, information, and tools. CSRHub’s business intelligence system measures the ESG business impact that drives corporate and investor sustainability decisions. Founded in 2007, CSRHub covers 56,545 public and private companies, and provides ESG performance scores on over 37,899 companies from 135 industries in 210 countries. Our Big Data platform uses algorithms to aggregate, normalize and weight ESG metrics from 957 sources to produce a strong consensus signal on corporate sustainability performance.
For more information, visit www.csrhub.com
Media Contact
Harish Karunalingam
Integrum ESG
[email protected]
-
Fintech PR4 days ago
Basware Officially Registered as PDP Service Provider as French Businesses Prepare for Mandatory E-Invoicing
-
Fintech5 days ago
Banking in the United Arab Emirates stands at an inflection point between the traditional branch-based model and a digital AI-enabled future – new Capco survey
-
Fintech PR3 days ago
IMF: Financial and Regulatory Reform Agenda Contributed to Accelerating Saudi Economy’s Growth
-
Fintech PR3 days ago
Bybit Web3 Kicks off Babylon Season With Unprecedented Access and Rewards, Uplifting Liquidity in BTC Ecosystem
-
Fintech PR3 days ago
ICEYE and Aon expand collaboration with flood and wildfire data agreement to enhance event response
-
Fintech PR3 days ago
Purchase Order Financing Market to Reach $12.9 Billion, Globally, by 2033 at 8.7% CAGR: Allied Market Research
-
Fintech PR3 days ago
Jamie Mullarkey named Markel’s Global Executive Underwriting Officer for Property and First Party Lines
-
Fintech PR4 days ago
Quadrature Climate Foundation surpasses US$1 billion in philanthropic commitments, emphasising strategic, science-led climate action