Global Mobile Phone Insurance Ecosystem Market growing at a CAGR of 10.5% from 2023 to 2030
Category : IT And Telecommunications | Published Date : Jun 2023 | Type : Press Release
Key Market Overview
The Global Mobile Phone Insurance Ecosystem Market was valued at USD 26,321.63 Million in 2022 and is expected to register a compound annual growth rate of 10.5% to reach USD 58,247.12 Million in 2030.
The report highlights the increasing demand for smartphone security due to accidental damage or theft. Consegic Business Intelligence provides an inclusive research report on the mobile phone insurance ecosystem market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.
Global Mobile Phone Insurance Ecosystem Market By Overview
The report analyses significant segments such as insurance type, sales channel, phone type and region, to identify emerging trends and potential opportunities. The phone type segment is expected to grow due to the increasing adoption of premium smartphones among consumers. Consumers are increasingly adoption feature-rich smartphone devices that increases the value of premium smartphone devices. Therefore, insurance companies are providing services to safeguard high-prices smartphones.
Get Free SampleMarket Dynamics
Driver:
- The growing value of consumer electronics devices such as smartphones, laptops, and tablets is driving the growth of the market.
- The growing awareness among consumers about the security risks associated with smartphones such as accidental damage, theft, or loss is driving the growth of the market.
- The rising cases of cyber security threats such as identity theft, financial loss, and others is driving the growth of mobile phone insurance ecosystem market.
Restraints:
- The complex and time-consuming claim procedures for replacement and reimbursement services is hindering the growth of the market.
- The complexities associated with terms & conditions in mobile phones insurance plans is hindering the growth of the market.
Market Segmentation:
| Report Attributes | Report Details |
| By Insurance Type | Physical Damage, Theft & Loss, and Others |
| By Sales Channel | Mobile Operators, Insurance Companies, Device OEMs, Retailers, and Others |
| By Phone Type | Budget Phones, Mid & High-End Phones, and Premium Smartphones |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The global mobile phone insurance ecosystem market is highly competitive due to the presence of major players such as Allstate Corporation, Apple, Asurion, ASUS, AT&T, Avast Software, Samsung Electronics, Vodafone Group, Worth Avenue Group operating in the global market. The market players are adopting new ways through product innovations, mergers and acquisitions, and business strategies to remain hold strong market position. Thus, evolving research and developments in mobile phone insurance ecosystem market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various industries.
- Allstate Corporation
- Apple
- Asurion
- ASUS
- AT&T
- Avast Software
- Samsung Electronics
- Vodafone Group
- Worth Avenue Group
- Xiaomi
- Zimperium
