Internet of Things Based Life Insurance Market Growth Holds Strong | Allianz, Prudential Financial Inc, AXA

PRESS RELEASE
Published January 31, 2023

Global Internet of Things Based Life Insurance Market Size study & Forecast, by Type and Regional Analysis, 2022-2029, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Internet of Things Based Life Insurance market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Internet of Things Based Life Insurance market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region

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Global Internet of Things (IoT) Based Life Insurance Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Internet of Things (IoT) Based Life Insurance refers to the application of IoT-based devices in the insurance sector. The application of IoT in life insurance can help the insurance provider to gauge the risk associated with issuing life insurance to an individual. Health insurance can get access to accurate health data of an individual through the application of IoT-based devices such as blood pressure levels, heart rate, and oxygen levels among others. This data can also be used for the development of new products and models. The increasing penetration of IoT in the healthcare sector and growing expansion of the life insurance industry as well as strategic initiatives from leading market players are key factors accelerating the market growth.

The growing penetration of IoT in the healthcare sector is contributing to the growth of the Global IoT-based Life Insurance market. For instance, according to Statista – In 2019, globally healthcare-related IoT revenues were estimated at USD 41.57 billion, and the revenues are projected to grow to USD 135 billion by 2025. Also, the rising emergence of digital insurance providers in developing regions and increasing adoption of cloud-based platforms would create lucrative growth prospects for the market over the forecast period. However, the data security & privacy concerns associated with IoT-based devices impede the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Internet of Things (IoT) Based Life Insurance Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in terms of market share owing to the presence of leading market players and the increasing adoption of IoT devices by health insurance providers in the region. Whereas the Asia Pacific is expected to grow with the highest CAGRduring the forecast period, owing to factors such as the rising expansion of the IoT devices market as well as increasing penetration of health insurance in the region.

 

Major market players included in this report are:

  • Allianz
  • Prudential Financial Inc
  • AXA
  • Berkshire Hathaway Inc
  • Reliance Nippon Life Insurance Ltd
  • MetLife Services & Solutions LLC
  • Legal & General Group PLC
  • Ping an Insurance (Group) Company of China Ltd
  • JAPAN POST INSURANCE CO. Ltd
  • China Life Insurance (Group) Company

 

Recent Developments in the Market:

In September 2020, Boston, USA-based John Hancock life insurance company entered into a partnership with Amazon for their recently launched Halo band, a wearable device that tracks activities such as exercise and sleeping patterns. Furthermore, John Hancock’s life insurance policyholders would be able to earn rewards and premium discounts based on their use of the new technology.

Global Internet of Things (IoT) Based Life Insurance Market Report Scope:

Historical Data: 2019-2020-2021

Base Year for Estimation: 2021

Forecast period: 2022-2029

 

Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends

Segments Covered: Type, Region

Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World

 

Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

 

By Type:

  • Term Life Insurance
  • Whole Life Insurance
  • Endowment Policy
  • Money Back Policy
  • Savings & Investments Plan
  • Retirement Plans
  • Unit Linked Insurance Plans

Our market research provides vital intelligence on market size, business trends, industry structure, market share, and market forecasts that are essential to developing business plans and strategy.

A combination of factors, including COVID-19 containment situation, end-use market recovery & Recovery Timeline of 2020/ 2021

covid-19 scenario Market Behavior/ Level of Risk and Opportunity End Industry Behavior/ Opportunity Assessment Expected Industry Recovery Timeline Business Impact Horizon
Opening of Economy by Q3 2020 xx xx xx xx
Recovery – Opening of Economy extended till Q4 2020 / Q1 2021 xx xx xx xx

Under COVID-19 Outbreak Impact Analysis:
We analyzed industry trends in the context of COVID-19. We analyzed the impact of COVID-19 on the product industry chain based on the upstream and downstream markets. We analyze the impact of COVID-19 on various regions and major countries.
The impact of COVID-19 on the future development of the industry is pointed out.

Study Explore :

  • Market Behavior/ Level of Risk and Opportunity
  • End Industry Behavior/ Opportunity Assessment
  • Expected Industry Recovery Timeline

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Each study, more than 100+ pages, is packed with tables, charts and insightful narrative including coverage on: Report Ocean provides complete tailor-made market reports that deliver vital market information on industry. Our market reports include:

  • Market Sizing and Structuring
  • Micro and macro analysis
  • Regional dynamics and Operational landscape
  • Demographic profiling and Addressable market
  • Legal Set-up and Regulatory frameworks
  • Profitability and Cost analysis
  • Segmentation analysis of Market
  • Existing marketing strategies in the market, Best practice, GAP analysis
  • Competitive landscape, Leading market players, Benchmarking
  • Future market trends and opportunities – Scenario modeling

 

Geographical Breakdown: The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery path of Covid 19 for all regions, key developed countries and major emerging markets.

 

Countries: Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam

In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of The Following Aspects: Market Structure, Growth Drivers, Restraints and Challenges, Emerging Product Trends & Market Opportunities, Porter’s Fiver Forces. The report also inspects the financial standing of the leading companies, which includes gross profit, revenue generation, sales volume, sales revenue, manufacturing cost, individual growth rate, and other financial ratios. The report basically gives information about the Market trends, growth factors, limitations, opportunities, challenges, future forecasts, and details about all the key market players.

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Key questions answered: Study Explore COVID 19 Outbreak Impact Analysis Our team will be able to provide clear answers, identify key opportunities, new investments, and recommend high quality strategy routes in the market. These answers will include a holistic analysis of the:

  • Existing market infrastructures
  • Market challenges and opportunities
  • Potential for growth in certain industries in the coming years
  • End-consumer target groups and their potential volumes of operation
  • Best regions and segments to target
  • Pros and cons of various promotion models
  • Touch points and an opportunity breakdown within the value chain
  • Market size and growth rate during forecast period.
  • Key factors driving the Market.
  • Key market trends cracking up the growth of the Market.
  • Challenges to market growth.
  • Key vendors of Market.
  • Detailed SWOT analysis.
  • Opportunities and threats faces by the existing vendors in Global Market.
  • Trending factors influencing the market in the geographical regions.
  • Strategic initiatives focusing the leading vendors.
  • PEST analysis of the market in the five major regions.

 

The Study Explore COVID 19 Outbreak Impact Analysis

 

  • What should be entry strategies, countermeasures to economic impact, and marketing channels?
  • What are market dynamics?
  • What are challenges and opportunities?
  • What is economic impact on market?
  • What is current market status? What’s market competition in this industry, both company, and country wise? What’s market analysis by taking applications and types in consideration?

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Key Points Covered in Internet of Things Based Life Insurance Market Report:

Global Internet of Things Based Life Insurance Market Research Report
Section 1: Global Internet of Things Based Life Insurance  Industry Overview
Section 2: Global Economic Impact on Internet of Things Based Life Insurance  Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Internet of Things Based Life Insurance  Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Internet of Things Based Life Insurance  Market Forecast

……..and view more in complete table of Contents

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