Global Mobile Phone Insurance market Overview:
In today’s life mobile phone insurance has become a basic need for everyone who is carrying a mobile phone. The mobile phone insurance market was valued at US$ 15,962.7 Mn in 2018 and is estimated to reach US $ 42,448 Mn by 2023. Mobile insurance refers to a type of insurance cover which is available to protect your mobile, iPhone or PDA in the event it is lost, stolen or accidentally damaged, either in the domestic area or overseas. Mobile insurance cover can be taken out on a monthly or annual basis paid by direct debit or in some cases by credit card, and few insurers offer an automatic renewal service when the policy expires.
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Global Mobile Phone Insurance market – Drivers and Restraints:
The global mobile phone insurance market is experiencing an intense growth with regards to the innovations and up gradations of policies and schemes being carried out by the market players and procurement for future. The mobile phone insurance market consists of some well-established players across the globe that invest huge amounts in order to deliver the most enhanced insurance solutions to the customers. The mobile phone insurance market is concentrated with mobile network operators, device OEMs, retailers and others. These market participants enhance their schemes as per the requirements of the customers.
The key trend which will predominantly affect the mobile phone insurance market in the coming year is increased convenience over the claiming procedures. The terms and conditions of the insurance market are sometimes very critical which pushes the customers to fail to recall the claiming procedures altogether. Various sellers offer set coverage and premium amount regardless of the smartphone or coverage required.
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Global Mobile Phone Insurance market – Geographical Segmentation:
The Mobile Phone Insurance is geographically segmented into North America,
Europe, Asia-Pacific, South America, Middle East and Africa. The Asia-Pacific will occupy for more market share in following years, especially in China, along with fast growing India and Southeast Asia regions. North America, especially The United States, will play an important role that cannot be ignored. Any changes from United States might affect the development trend of mobile phone insurance ecosystem.
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List of Key players in Global Mobile Phone Insurance market:
Major players in this market are Allianz Insurance, AmTrust International Underwriters, Assurant, Asurion, Aviva, Brightstar Corporation, Geek Squad, Go Care Warranty Group and Hollard Group.
Leading Mobile Network Operators like Vodafone, T-Mobile, Telefonica, Sprint, MTN Group, Orange, Etisalat, Verizon Wireless, AT&T Mobility, Ooredoo, MTS and SoftBank and many others are also playing very important roles in market.
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