Mobile Phone Insurance Market 2025 Technological Advancements, Innovative Trends and Strategies By Key Players ASURION, TR?V, THREE IRELAND, BRIGHTSTAR, AMERICAN INTERNATIONAL GROUP
The prominent mobile phone insurance market players operating in the Mobile Phone Insurance market includes Blackberry Limited, American International Group, Inc., Assurant, Inc., Asurion, LLC, Pier Insurance, Brightstar Corp, AT&T Inc., Trov, Vodafone, and Three among others.
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- To provide detailed information regarding the major factors (drivers, restraints, opportunities, challenges, and trends) influencing the growth of the global Mobile Phone Insurance Market.
- To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa)
The global mobile phone insurance market is a highly fragmented and evolving market worldwide. Leading players in the mobile phone insurance market capture merely ~50% of the market, whereas rest of the mobile phone insurance market is occupied by region players including mobile operators, retailer’s operating in that region. The mobile phone insurance market operates in a highly-competitive marketplace.
The demand for smartphones have increased the demand for smartphone insurance owing to the fact that, the smartphones are prone to various damages such as physical damage and technological damage. The physical damages are caused by accident, liquid spillage, and drop among others. The technological / electronic damages are caused by overcharging, and voltage fluctuations among other. Another potential threat to these smartphones is the theft or loss of the devices. These factors are major concerns for the smartphone users and attributing to the threats, the users are opting for mobile insurance in the current scenario.
While smartphone penetration in the developed regions such as U.S. and European markets comprises big chunk of the market, on contrary the developing nations across the globe are still in emerging stage. Competitive pricing and refurbished mobile phone market will be leading trend to drive the mobile device insurance adoption in near future. However, the trend may vary as per customer willingness and mobile phone penetration from region to region. Statistics says global secondhand and refurbished mobile phone market was approx. US$ 17 Bn in 2016 with the growth of 50% year-on-year.
The mobile phone insurance market report focuses on an in-depth segmentation of this market based by phone types, coverage, sales channel, and end users. The geographic segmentation of the report covers major regions including; North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM). The regional market has been further categorized by respective countries. By phone types segment new phone segment dominated the market heavily and it is anticipated to continue its dominance throughout the forecast period from 2018 – 2025; whereas, regionally, North America accounted to hold the largest chunk in global mobile phone insurance market in 2017 and Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period from 2018 - 2025.
The global mobile phone insurance market has been segmented by two phone types namely new phone and refurbished phone. The market is also broken down by different coverage as physical damage, electronic damage, virus protection, and theft protection. The various sales channel through which the insurance policies are sold includes mobile operators, device OEMs, retailers and others. Further, the market is broken down by end user into corporate and personal.
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Reason to Buy:-
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global mobile phone insurance market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the mobile phone insurance market, thereby allowing players across the value chain to develop effective long term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
- Examine the political, economic, social and technology impact of the five regions namely: North America, Europe, Asia Pacific, Middle East & Africa and South America.
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