Mobile Phone Insurance Market Demonstrates a Spectacular Growth by 2028

According to our latest market study on "Mobile Phone Insurance Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Coverage, Sales Channel, Phone Type, and End User," the market size is projected to reach US$ 53,161.84 million by 2028 from US$ 27,291.83 million in 2021; the market is expected to grow at a CAGR of 10.4% from 2022 to 2028. Surge in Uptake of High-Quality Smartphones Creates Opportunities for Mobile Phone Insurance Market Players.

Get a Sample PDF https://www.theinsightpartners.com/sample/TIPTE100000940/?utm_source=OpenPR&utm_medium=10593

Key Companies: Allianz SE, American International Group, Inc., Apple Inc., AT&T Inc., Aviva insurance Limited, Better Buy Insurance, Gadget Cover, Insurance2go, Pier Insurance Managed Services Ltd., Telefónica UK Limited, AQILO Business Consulting GmbH, Square Trade Inc., Switched On Insurance

During the COVID-19 pandemic, the mobile phone industry in Europe managed to keep consumers and businesses linked, irrespective of changes in data consumption habits and demands. Mobile operators are taking steps to mitigate the repercussions of this crisis by introducing zero-rating educational services; promoting the potential of mobile big data solutions for epidemiological modelling; and providing direct funding to hospitals and frontline workers, along with other healthcare initiatives. The mobile phone insurance market is flourishing with the evolution of the 4G networks and the Internet of Things (IoT), which fuels the adoption of mobile phones. In 2020, 472 million Europeans (86% of the population) signed up for mobile services. Furthermore, artificial intelligence (AI) and 5G networks are the next frontiers that would contribute to the market growth. Mobile phone insurance policies are offered by various smartphone manufacturers, network operators, insurance companies, and retailers in Europe. Insurance companies help smartphone owners by offering theft or lost insurance, accident coverage, etc. Thus, increasing smartphone users across different region bolsters the market growth.

The mobile phone insurance market is experiencing significant growth with innovations, and policy and scheme upgrades by companies. The market consists of some well-established players, region along with small firms offering single coverage type. The mobile phone insurance market is concentrated with mobile network operators, device OEMs, retailers, etc. These market participants enhance their schemes as per the requirements of customers. In addition, the smartphones market is significantly growing with the launch of new phones and demand for refurbished phones. Smartphones are prone to physical and technological damages. Accidents, liquid spillage, and fall are among the key causes of the physical damage to phone, while overcharging and voltage fluctuations are among the prime causes of technological/electronic damage. Theft or the loss of the device is another potential threat to smartphone ownership.

Speak to Analyst: https://www.theinsightpartners.com/speak-to-analyst/TIPTE100000940?utm_source=OpenPR&utm_medium=10593

Market Insight
Surge in Uptake of High-Quality Smartphones

During the COVID-19 pandemic, the mobile phone industry in Europe managed to keep consumers and businesses linked, irrespective of changes in data consumption habits and demands. Mobile operators are taking steps to mitigate the repercussions of this crisis by introducing zero-rating educational services; promoting the potential of mobile big data solutions for epidemiological modelling; and providing direct funding to hospitals and frontline workers, along with other healthcare initiatives. The mobile phone insurance market growth is flourishing with the evolution of the 4G networks and the Internet of Things (IoT), which fuels the adoption of mobile phones. In 2020, 472 million Europeans (86% of the population) signed up for mobile services. Furthermore, artificial intelligence (AI) and 5G networks are the next frontiers that would contribute to the market growth. Mobile phone insurance policies are offered by various smartphone manufacturers, network operators, insurance companies, and retailers in Europe. Insurance companies help smartphone owners by offering theft or lost insurance, accident coverage, etc. Thus, increasing smartphone users across different region bolsters the mobile phone insurance market growth.

Mobile Phone Insurance Market Segmentation:
By Coverage
Physical Damage
Electronic Damage
Virus Protection
Theft Protection

By Sales Channel
Mobile Operators
Device OEMs
Retailers
Others

By Phone Type
New Phones
Refurbished Phones
By End User
Corporate
Personal

Directly Purchase a copy of this research study @ https://www.theinsightpartners.com/buy/TIPTE100000940/?utm_source=OpenPR&utm_medium=10593

Note: If you have any special requirements related to Mobile Phone Insurance Market Report please let us know and we will offer you the report as you want.

Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

This release was published on openPR.