Europe mobile insurance market by witnessing an estimated CAGR of 12.5% BY 2023

The Europe mobile insurance market has been segmented by risks covered into accidental damage, theft, liquid damage, breakdown, unauthorized use, accidental loss, cracked screen, worldwide cover, drops, mobile wallet and other inevitable risks. Among these segments, the accidental damage segment dominated the overall Europe mobile insurance market during 2016 and is anticipated to behold its dominant growth over the forecast period. After accidental damage, the theft segment is expected to hold major share in the market owing to the rising cases of theft in the region. Further, the growing number of mobile subscribers including customers buying the expensive mobile phones combined with rising penetration of internet has led many offline and online companies such as Amazon US, Google and others to provide mobile insurance along with the purchase of the cellular devices. These factors have further led to the growth of mobile insurance market in the regions of Europe.

The Europe Mobile Insurance Market was valued around USD 10.2 Billion in revenue in 2016 and the security concerns regarding accidental damage and other related risks among the mobile users are anticipated to benefit the expansion of the Europe mobile insurance market by witnessing an estimated compound annual growth rate of 12.5% over the period 2016-2023. Further, the competition among different key players resulting in cost cutting to retain themselves in the market is anticipated to drive the expansion of Europe mobile insurance market during the forecast period.

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Innovative Coverage Policies Reflect Significant Opportunities

The growth of the European mobile insurance market in both Eastern & the Western Europe are expected to emerge as the new markets for safeguarding their mobiles from various risks with various value added services combined with innovative coverage policies, insurance and schemes provided by different retailers of the market. Further, the growing use of internet leading to the use of mobile wallets is expected to bridge the gap between e-commerce and retail market. This will supplement the growth of Europe mobile insurance market in upcoming years.

However, entrance of new players is expected to dampen the growth of the market during the forecast period.

The report titled “Europe Mobile Insurance Market: Global Demand Analysis & Opportunity Outlook 2023” delivers detailed overview of the Europe mobile insurance market in terms of market segmentation by risks covered and by region.

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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the key players of the Europe mobile insurance market which includes company profiling of Insurance2go, Better Buy Insurance, Tinhat, Row, Loveit Coverit, Protect your Bubble, Gadget Cover, Switched on Insurance, O2 Mobile Insurance, Swisscom, Salt and Sunrise.

The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Europe mobile insurance market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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AJ Daniel
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