IoT property insurance market size in Japan FY 2017-2024

Published by Statista Research Department, Dec 7, 2022
In fiscal year 2017, the Internet of Things (IoT) property damage insurance market in Japan was valued at approximately 1.3 billion Japanese yen. It was forecast to grow to 170 billion yen by fiscal year 2024. IoT technologies offer new smart solutions for property damage insurers to optimize resources and business processes like insurance claims, customer interaction and risk analysis, resulting in a further growth of the market.

Value of the Internet of Things (IoT) property damage insurance market in Japan in fiscal year 2017 with a forecast until 2024 (in billion Japanese yen)

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Release date

December 2018

Region

Japan

Survey time period

fiscal year 2017; the Japanese fiscal year starts on April 1 of the stated year and ends on March 31 of the following year

Supplementary notes

*Forecast.

The IoT insurance market size is based on the insurance premiums of services. Including damage, medical and life insurance.

100 Japanese yen equal 0.74 U.S. dollars or 0.70 euros as of December 2022.

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