Absolute Markets Insights offers its latest published Mobile Handset Protection Market by Type; Sales Channel; Regional outlook, Forecast to 2023

Mobile handset protection involves insuring the handset from any loss or damage. It includes protection from theft, breakage and spillage amongst others. Increasing adoption of smartphones coupled with connected devices in United States at a rapid pace is one of the important factors that has aided the mobile handset protection market in recent past and is expected to follow a similar trend over the forecast years that will duly involve more innovations and technological advancements on the same field. The handset protection programs offer a convenient option to reduce the service disruption and can ensure the consumers to get back to their phone quickly and in a pain free manner.

The author of the report analyzed that the global mobile handset protection market accounted for US$ 51,253.8 million in 2017. Increasing data privacy concerns, consumer behavioral patterns with the handsets are some of the challenges that have led to the increased demand for mobile handset protection.

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“The Mobile Handset Protection Market is facing exponential growth. The market players have to take into consideration the future prospects of the market to plan their strategies. Though, this market currently has huge demand, the emerging small market players would diminish the profit margin in the future.”

The increasing use of expensive smartphones is one of the drivers for the mobile phone protection. Nowadays, companies are launching bezel less phones and are competing against each other to manufacture the slimmest phones possible with new technologies. This has made the devices fragile. These new devices are more prone to damage than the handsets in the previous decade. So, there is a need for mobile handset protection. However, companies are coming up with new techniques to tackle this issue for instance, the constantly evolving Gorilla glass technology provides toughened glass for the handsets. In addition, most of the people use hardened back covers for phones which protects the device from damage. This might possibly hinder the growth of the mobile handset protection market.

Many companies are adopting e-commerce as sales channel. Every mobile handset protection company has a tie up with online retailers and distributers. E-commerce platform is proven to be cost-effective in nature. Companies like Microsoft, Apple amongst others provide discounts to customers if combined with a protection plan. The mechanism followed is the longer the term of protection, the higher the discount. Nowadays, in this fast-paced environment people have less time to visit stores to buy mobile protection. With the advent of websites offering comparison in the protection plans, the customers tend to study and choose the plan that caters to their needs. Thus, E commerce is gaining importance as a preferred sales channel in the future too.

Asia Pacific has countries such as China and India with massive population. This implies these companies have huge customer base. Growing urbanization in these countries has led almost everyone using a handset. Apart from this, mobile protection companies providing plans customized to these countries is one of the factors for the growth of the market in this country. In addition, the growing awareness for the need of handset protection in these countries is another factor boosting the demand for the mobile handset protection market.

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Mobile Handset Protection Market is Fragmented in Nature with the Presence of Global and Regional Players

Some of the significant players functioning in the global cybersecurity in healthcare market include AT&T Mobility, Safeware, Microsoft, OneAssist Consumer Solutions Pvt. Ltd., Sprint Corporation, OnsiteGo, Apple Inc., Brightstar Device Protection, Pier Insurance, T-MOBILE USA, INC, Verizon Communications Inc., Walmart, Asurion, Best Buy, American International Group, Inc. amongst others. In 2015, AT&T acquired GSF telecom, a Mexican telecom provider company. This helped AT&T to provide its services and gain a foothold in the Mexican market.

Mobile Handset Protection Market - By Region
North America
U.S.
Rest of North America

Europe
France
The UK
Spain
Germany
Italy
Rest of Europe

Asia Pacific
China
Japan
India
Southeast Asia
Rest of Asia Pacific

Middle East and Africa
GCC Countries
Southern Africa
Rest of Middle East and Africa
Latin America
Brazil
Rest of Latin America

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This release was published on openPR.