The global insurance industry experienced a 52% drop in company filings mentions of internet of things in Q2 2023 compared with the previous quarter, with the highest share accounted for by ICICI Prudential Life Insurance with 17% year-on-year increase, according to GlobalData’s analysis of over 29 insurance company filings. The growing application of Internet of Things will prove to have a transformative impact on the the travel & tourism sector. GlobalData’s Internet of Things (IoT) Market Size, Share and Trends, Analysis and Forecast report helps keep abreast of the latest trends in Internet of Things, market opportunity forecast and the competitive landscape. Buy the report here.
Notably, internet of things was one of the most frequently referenced themes in Q2 2023, ranking highest in terms of mentions, ahead of digitalization and robo-advice, according to GlobalData.
Of the top leading companies in the insurance industry, ICICI Prudential Life Insurance had the greatest increase in references for internet of things in Q2 2023, compared with the previous quarter. GlobalData identified seven internet of things-related sentences in the company's filings - 0.1% of all sentences - and an increase of 17% in Q2 2023 compared with Q2 2022. PICC Property and Casualty’s mentions of internet of things dropped by 50% to 3 and HDFC Life Insurance’s by 71% to 2 and Munchener Ruckversicherungs-Gesellschaft Aktiengesellschaft (Munich Re)’s by 67% to 2 and People's Insurance Company (Group) of China’s by 67% to 2.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for internet of things in Q2 2023 was 136.
To further understand GlobalData's analysis on Internet of Things (IoT) Market Size, Share, Trends Analysis, and Segment Forecast 2021-2026, buy the report here.