IoT Insurance Market projected to reach $152.76 billion by 2032, driven by telematics and AI integration.

From GlobeNewswire: 2025-06-24 10:00:00

The global IoT Insurance Market was valued at USD 15.09 billion in 2023, projected to reach USD 152.76 billion by 2032 with a CAGR of 29.4%. In the U.S., the market was valued at USD 4.14 billion in 2023, expected to reach USD 35.8 billion by 2032, driven by telematics and AI integration.

Major players in the market include Oracle, SAP, IBM, Microsoft, and Intel, among others. The market scope includes components, types, end-uses, and key growth drivers for IoT insurance market expansion.

Solutions dominate the market with 66% revenue share in 2023, while services are expected to register the fastest CAGR due to customization demands. Life & Health Insurance leads the market, with Property & Casualty Insurance showing rapid growth.

Automotive & Transportation is the dominant sector, benefiting from telematics adoption, while Healthcare is experiencing rapid growth with connected health wearables. North America leads the market, with Asia-Pacific registering the fastest CAGR due to urbanization and government support for IoT-based insurance models. Our company provides clients with up-to-date market data, consumer insights, and opinions to make informed decisions in changing circumstances. We use surveys, video talks, and focus groups globally to gather diverse perspectives. Our goal is to empower clients to navigate the evolving business landscape with confidence.



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