New York, USA, April 18, 2022 (GLOBE NEWSWIRE) — Research Dive states that the global IoT insurance market is estimated to garner a revenue of $402,990.0 million by 2027 and rise at a CAGR of 54.0% in the forecast period from 2020 to 2027. The all-inclusive report on the IoT insurance market provides a brief summary of the current market scenario along with the key aspects of the industry, such as significant growth and restraining factors, challenges, and multiple growth opportunities. Besides, the report provides all the estimations of the market, making it easier and helpful for the novel participants to better understand the global market.
IoT Insurance Market Dynamics
Analysts at Research Dive state that the growing adoption and advances in IoT products and cloud services among consumers are the major factors anticipated to propel the growth of the global IoT insurance market. In addition, the increasing implementation of artificial intelligence (AI) in the insurance sector is projected to open up massive growth opportunities for the global market in the coming years. Conversely, the lack of skilled labor and high costs associated with IoT may restrict the market growth in the forecast period.
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