Press release
Mobile Phone Insurance Market is Booming and Predicted to Hit US$ 81.1 Billion by 2032
Mobile Phone Insurance Market Report 2024
๐ ๐จ๐ซ ๐๐ง ๐ข๐ง-๐๐๐ฉ๐ญ๐ก ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ, ๐ฒ๐จ๐ฎ ๐๐๐ง ๐ซ๐๐๐๐ซ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ: https://www.imarcgroup.com/mobile-phone-insurance-market/requestsample
๐ ๐๐๐ญ๐จ๐ซ๐ฌ ๐๐๐๐๐๐ญ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐จ๐ ๐ญ๐ก๐ ๐๐จ๐๐ข๐ฅ๐ ๐๐ก๐จ๐ง๐ ๐๐ง๐ฌ๐ฎ๐ซ๐๐ง๐๐ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:
๐๐ข๐ฌ๐ข๐ง๐ ๐๐๐จ๐ฉ๐ญ๐ข๐จ๐ง ๐จ๐ ๐๐ฆ๐๐ซ๐ญ๐ฉ๐ก๐จ๐ง๐๐ฌ:
The escalating demand for mobile phone insurance due to the rising sales of smartphones among the masses across the globe is supporting the market growth. In line with this, smartphones are not just serving as a communication device but also as portable entertainment option, which is essential tool for performing daily tasks. Moreover, people are increasingly becoming aware about the financial implications of replacing a high-end device. Apart from this, constant innovation and marketing efforts by smartphone manufacturers encourage individuals to upgrade their devices regularly. Furthermore, there is an increase in the demand for mobile phone insurance, as individuals are seeking to safeguard their latest models.
๐๐ง๐๐ซ๐๐๐ฌ๐ข๐ง๐ ๐๐จ๐ฌ๐ญ ๐จ๐ ๐๐จ๐๐ข๐ฅ๐ ๐๐๐ฏ๐ข๐๐๐ฌ:
The rising cost of mobile devices is contributing to the growth of the market. Besides this, the incorporation of advanced technologies like organic light-emitting diode (OLED) displays, multiple camera systems, and fifth generation (5G) connectivity, is bolstering the market growth. Additionally, people are willing to pay a premium for these advancements. Furthermore, mobile phone insurance serves as a practical solution to mitigate potential financial burdens. In line with this, the increasing cost of mobile devices are encouraging individuals to opt for comprehensive insurance coverage.
๐๐ข๐ฌ๐ค๐ฌ ๐จ๐ ๐๐๐๐ข๐๐๐ง๐ญ๐๐ฅ ๐๐ซ๐จ๐ฉ๐ฌ ๐จ๐ ๐๐จ๐๐ข๐ฅ๐ ๐๐ก๐จ๐ง๐๐ฌ:
The rising awareness among individuals about the risks associated with mobile phone usage is strengthening the growth of the market. These risks include accidental drops leading to screen damage, exposure to liquids, theft, or loss. Apart from this, individuals are recognizing that the cost of repairing or replacing a smartphone due to such accidents can be substantial. They are also seeking insurance coverage options to reduce the financial burden. Additionally, losing access to critical data, contacts, or work-related information due to damage or theft can be disruptive and financially damaging. ย ย
๐๐๐๐๐ข๐ง๐ ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ ๐๐ฉ๐๐ซ๐๐ญ๐ข๐ง๐ ๐ข๐ง ๐ญ๐ก๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐จ๐๐ข๐ฅ๐ ๐๐ก๐จ๐ง๐ ๐๐ง๐ฌ๐ฎ๐ซ๐๐ง๐๐ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:
American International Group, Inc
Allianz SE
AmTrust International Limited
Apple Inc., AT&T Inc.
AXA Group
Deutsche Telekom AG
Liberty Mutual Insurance Group
Pier Insurance Managed Services Ltd.
Samsung Electronics Co. Ltd.
SoftBank Group Corp.
Sprint Corporation
Telefรณnica Insurance S.A.
Verizon Communications Inc.
Vodafone Group Plc
Xiaomi Corporation
Orange S.A.
๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐ญ๐ก๐ ๐๐ฎ๐ฅ๐ฅ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ฐ๐ข๐ญ๐ก ๐ญ๐๐๐ฅ๐ ๐จ๐ ๐๐จ๐ง๐ญ๐๐ง๐ญ๐ฌ: https://www.imarcgroup.com/mobile-phone-insurance-market
๐๐จ๐๐ข๐ฅ๐ ๐๐ก๐จ๐ง๐ ๐๐ง๐ฌ๐ฎ๐ซ๐๐ง๐๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง:
๐๐ฒ ๐๐ก๐จ๐ง๐ ๐๐ฒ๐ฉ๐:
New Phoneย
Refurbished
The new phone represented the largest segment due to the rising need to reduce high replacement costs. ย ย
๐๐ฒ ๐๐จ๐ฏ๐๐ซ๐๐ ๐:
Physical Damage
Electronic Damage
Virus Protection
Data Protection
Theft Protection
Physical damage accounted for the largest market share as it provides protection for mobile phones against external harm, such as accidental drops and spills. ย ย ย
๐๐ฒ ๐๐ข๐ฌ๐ญ๐ซ๐ข๐๐ฎ๐ญ๐ข๐จ๐ง ๐๐ก๐๐ง๐ง๐๐ฅ:
Mobile Operators
Device OEMs
Retailers
Online
Others
Online exhibits a clear dominance in the market on account of the increasing focus on enhanced convenience and accessibility.
๐๐ฒ ๐๐ง๐ ๐๐ฌ๐๐ซ:
Corporate
Personal
Personal holds the biggest market share as mobile phone insurance provides protection against numerous risks, such as accidental damage, theft, loss, and damage caused by environmental factors. ย ย ย ย ย
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ:
North America: (United States, Canada)
Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
North America enjoys the leading position in the mobile phone insurance market due to the presence of numerous insurance providers. ย ย
๐๐ฅ๐จ๐๐๐ฅ ๐๐จ๐๐ข๐ฅ๐ ๐๐ก๐จ๐ง๐ ๐๐ง๐ฌ๐ฎ๐ซ๐๐ง๐๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐๐ง๐๐ฌ:
E-commerce platforms are making mobile phone insurance more convenient for individuals. Additionally, insurance options are generally presented during the checkout process, when individuals buy smartphones online. This ease of access encourages people to opt for insurance coverage, especially when they are making a significant investment in a new device. The escalating demand for smartphones on account of increasing preferences for on-the-go entertainment and mobile banking among the masses worldwide is impelling the market growth. These devices play a pivotal role in daily life, which encourages individuals to protect these devices from any damage.
๐๐จ๐ญ๐: ๐๐ ๐ฒ๐จ๐ฎ ๐ง๐๐๐ ๐ฌ๐ฉ๐๐๐ข๐๐ข๐ ๐ข๐ง๐๐จ๐ซ๐ฆ๐๐ญ๐ข๐จ๐ง ๐ญ๐ก๐๐ญ ๐ข๐ฌ ๐ง๐จ๐ญ ๐๐ฎ๐ซ๐ซ๐๐ง๐ญ๐ฅ๐ฒ ๐ฐ๐ข๐ญ๐ก๐ข๐ง ๐ญ๐ก๐ ๐ฌ๐๐จ๐ฉ๐ ๐จ๐ ๐ญ๐ก๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ, ๐ฐ๐ ๐ฐ๐ข๐ฅ๐ฅ ๐ฉ๐ซ๐จ๐ฏ๐ข๐๐ ๐ข๐ญ ๐ญ๐จ ๐ฒ๐จ๐ฎ ๐๐ฌ ๐ ๐ฉ๐๐ซ๐ญ ๐จ๐ ๐ญ๐ก๐ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง.
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ฌ:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163
๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Mobile Phone Insurance Market is Booming and Predicted to Hit US$ 81.1 Billion by 2032 here
News-ID: 3368899 • Views: โฆ
More Releases from IMARC Group
Flexible Printed Circuits Manufacturing Plant Cost 2025: Industry Trends, Unit S โฆ
Setting up a flexible printed circuits manufacturing facility necessitates a detailed market analysis alongside granular insights into various operational aspects, including unit processes, raw material procurement, utility provisions, infrastructure setup, machinery and technology specifications, workforce planning, logistics, and financial considerations.
IMARC Group's report titled "Flexible Printed Circuits Manufacturing Plant Project Report 2025: Industry Trends, Plant Setup, Machinery, Raw Materials, Investment Opportunities, Cost and Revenue" offers a comprehensive guide for establishing aโฆ
Needle Manufacturing Plant 2025: Project Report, Business Plan, Raw Materials, a โฆ
Setting up a needle manufacturing facility necessitates a detailed market analysis alongside granular insights into various operational aspects, including unit processes, raw material procurement, utility provisions, infrastructure setup, machinery and technology specifications, workforce planning, logistics, and financial considerations.
IMARC Group's report titled "Needle Manufacturing Plant Project Report 2025: Industry Trends, Plant Setup, Machinery, Raw Materials, Investment Opportunities, Cost and Revenue" offers a comprehensive guide for establishing a needle manufacturing plant, coveringโฆ
Edible Oil Manufacturing Plant Setup Cost 2025: CapEx/OpEx Analysis with Profita โฆ
Setting up an edible oil manufacturing facility necessitates a detailed market analysis alongside granular insights into various operational aspects, including unit processes, raw material procurement, utility provisions, infrastructure setup, machinery and technology specifications, workforce planning, logistics, and financial considerations.
IMARC Group's report titled "Edible Oil Manufacturing Plant Project Report 2025: Industry Trends, Plant Setup, Machinery, Raw Materials, Investment Opportunities, Cost and Revenue" offers a comprehensive guide for establishing an edible oilโฆ
Copper Alloys Manufacturing Plant Setup Cost 2025: Layout, Machinery, Raw Materi โฆ
Setting up a copper alloys manufacturing facility necessitates a detailed market analysis alongside granular insights into various operational aspects, including unit processes, raw material procurement, utility provisions, infrastructure setup, machinery and technology specifications, workforce planning, logistics, and financial considerations.
IMARC Group's report titled "Copper Alloys Manufacturing Plant Project Report 2025: Industry Trends, Plant Setup, Machinery, Raw Materials, Investment Opportunities, Cost and Revenue" offers a comprehensive guide for establishing a copper alloysโฆ
More Releases for Insurance
Renters Insurance Market Dazzling Worldwide with Major Giants Travelers Insuranc โฆ
According to HTF Market Intelligence, the Global Renters Insurance market to witness a CAGR of xx% during the forecast period (2024-2030). The Latest research study released by HTF MI "Renters Insurance Market with 120+ pages of analysis on business Strategy taken up by key and emerging industry players and delivers know-how of the current market development, landscape, technologies, drivers, opportunities, market viewpoint, and status. Understanding the segments helps in identifyingโฆ
Renters Insurance Market to See Competition Rise | Travelers Insurance, Geico In โฆ
HTF MI introduces new research on Renters Insurance covering the micro level of analysis by competitors and key business segments (2023-2029). The Renters Insurance explores a comprehensive study of various segments like opportunities, size, development, innovation, sales, and overall growth of major players. The research is carried out on primary and secondary statistics sources and it consists of both qualitative and quantitative detailing. Some of the major key players profiledโฆ
Insurance Road Assistance Services Market Is Booming Worldwide | Travelers Insur โฆ
Insurance Road Assistance Services Market: The extensive research on Insurance Road Assistance Services Market, by Qurate Research is a clear representation on all the essential factors that are expected to drive the market considerably. Thorough study on Insurance Road Assistance Services Market helps the buyers of the report, customers, the stakeholders, business owners, and stockholders to understand the market in detail. The updated research report comprises key information on theโฆ
Agriculture Crop Insurance Market Type (MPCI Insurance, Hail Insurance, Livestoc โฆ
Agriculture Crop Insurance market worldwide Agriculture is an important contributor to any economy. The extensive use of crops for direct human consumption and industrial processes has resulted in increasing the pressure on the existing supply demand gap. Increasing need for food security is expected to augment the demand for insurance policies. The two major risks in agricultural sector are price risk, caused due to volatility in prices in the marketโฆ
Household Insurance Market By Key Players: Discount Insurance Home Insurance, On โฆ
Household Insurance Industry Overview
Theย Household Insurance market research studyย relies uponย a combination of primary as well as secondary research. It throws light on the key factorsย concerned withย generatingย andย limitingย Household Insurance market growth.ย In addition, theย currentย mergers and acquisition byย keyย players in the market have beenย describedย at length.ย Additionally, the historical information andย currentย growth of the market have beenย givenย in the scope of the research report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Household Insurance marketโฆ
Life Insurance Market in Kuwait By Warba Insurance Company, Al Ahleia Insurance โฆ
GlobalDataโs 'Life Insurance in Kuwait, Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Kuwaiti life insurance segment, and a comparison of the Kuwaiti insurance industry with its regional counterparts.
It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2012-2016) and forecast period (2016-2021).
The report alsoโฆ
