Mobile Phone Insurance Ecosystem Market SWOT Analysis And Company Market shares

Global mobile phone insurance ecosystem market is estimated to value over US$ 23 Bn in 2017, and is projected to register a CAGR of 9.8% in terms of value during forecast period 2017–2026.

The global mobile phone insurance ecosystem market is segmented on the basis of insurance type, and region/country.

Mobile insurance entails protection coverage for devices against physical damage, lost or stolen devices, and malfunctions. A mobile phone insurance ecosystem is a network or interconnected systems or an interconnected set of services that allow users to fulfill a variety of needs in one integrated experience, and includes insurance providers and customers.

Statistics indicate that out of the world’s total population of 7.5 billion as of June 2017, the number of smartphone users has grown to 5.035 billion, with the latest billion users being added in just the last four years.

Ecosystems are still in the initial stage of streamlining and awareness regarding insurance cover for mobile phones is not very widespread currently. This is more prominent in some developing and under-developed countries.

Rapid technological advancements such as cloud-based platforms are not only eliminating the technological and cost barriers associated with such platforms, but is also opening up new options for insurance companies globally.

The physical damage insurance type segment has been estimated to account for second-highest revenue share in 2017. The physical damage insurance type segment in the global mobile phone insurance ecosystem market is expected to register second-highest CAGR in terms of revenue contribution over the forecast period.

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In addition, major cell phone carriers such as AT&T Inc., Sprint Corporation, and Verizon Communications offering insurance to consumers at time of purchase at nominal add-on rates on their current mobile contracts, coupled with prominent companies such as Apple Inc.

According to the annual Crime Survey for England and Wales – that surveys 30,000 people annually to track trends in crime – almost half a million individuals in the UK had their phones stolen in 2015, of which approximately 31.0% had opted for a mobile phone insurance.

This is a major factor expected to boost growth of the Rest of the World mobile phone insurance ecosystem market. Moreover, increasing use of Internet due to inclination towards social networking websites, ecommerce websites, etc. is another major factor expected to drive growth of the global mobile insurance ecosystem market in the next five years.

The theft & loss segment in the global mobile phone insurance ecosystem market is estimated to account for majority revenue of US$ 11,103 Mn in 2017.

Key players operating in the global mobile phone insurance ecosystem market include AT&T Inc., Hong Leong Group, BlackBerry Limited, Asurion, LLC, Pier Insurance, Brightstar Device, Protection LLC.,

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