Mobile Phone Insurance Market Size to Reach USD 32.24 Bn By 2025
Browse details of the report @ https://www.researchcosmos.com/reports/mobile-phone-insurance-market/199557834
Growing utilization of smartphones and also rise in the incidences of phone thefts are key driving factors for the market to grow. Additionally, increasing awareness towards the terms and condition among consumers is also boosting up the demand of the market.
However, the rise in fraud activities by insurance companies is slowly hampering the demand of the market. Lack of complete knowledge in claiming the insurance has remained a challenging factor for the market.
Coupling of mobile insurance managers and manufacturers is surging growth opportunities for market growth. Launch of new policies in favor of the users such as data protection and increasing customer services are ascribed to bolster the demand of the market.
Geographically, the market is segmented into North America, Asia Pacific, Europe, Middle East, and Africa. North America is ascribed to lead the highest shares of the market by owing to the rise in the development of new technologies and increased sales of mobile phones. The Asia Pacific and Europe have positioned next to North America in accounting highest shares of the market with the rise in accidental damages of mobile phones and also changes in the policies by managers. The Middle East and Africa are expected to have huge growth opportunities in the foreseen years.
Some of the leading players in the mobile phone insurance market are Allianz, AmTrust International, Apple Inc., ASSURANT, INC., Asurion, Aviva, Brightstar Corp., American International Group, Inc., Geek Squad and GoCare Warranty Group.
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