Press release
Mobile Handset Protection Market Predicted to Reach USD 38.1 Billion by 2031 | Persistence Market Research
Get a Sample PDF Brochure of the Report (Use Corporate Email ID for a Quick Response): https://www.persistencemarketresearch.com/samples/20782
Among the different market segments, device protection plans lead due to their comprehensive coverage, including accidental damage, theft, and software malfunctions. North America dominates the market, primarily due to high smartphone penetration, consumer awareness, and partnerships between mobile service providers and insurance firms. However, Asia-Pacific is emerging as a high-growth region, driven by a rapidly expanding smartphone user base and increasing digital dependency.
Key Highlights from the Report
• The market is projected to grow at a CAGR of 6.4% from 2024 to 2031, reaching USD 38.1 billion by the end of the forecast period.
• Rising smartphone prices and the growing popularity of flagship devices are key factors driving demand for handset protection services.
• Mobile insurance and extended warranty services hold the largest market share, as consumers prioritize device longevity and repair cost savings.
• North America leads the market, while Asia-Pacific is experiencing the fastest growth due to increasing smartphone adoption.
• Technological advancements in tracking and anti-theft features are enhancing the appeal of mobile handset protection solutions.
• Growing partnerships between telecom operators and insurance providers are expanding market reach and service offerings.
Market Segmentation
The Mobile Handset Protection Market is segmented based on product type, coverage plan, and end-user demographics.
• By Product Type: The market includes mobile insurance, extended warranties, and damage protection plans. Mobile insurance dominates due to comprehensive coverage, while extended warranties are gaining traction among users who want long-term protection for their high-value devices.
• By End-User: The market serves individual consumers, businesses, and corporate enterprises. Individual consumers form the largest segment, driven by the increasing cost of smartphones. Meanwhile, enterprises invest in handset protection to safeguard company-owned devices against theft, damage, and cyber threats.
Regional Insights
North America:
North America is the leading market for mobile handset protection, driven by high smartphone penetration, premium device adoption, and strong telecom partnerships. The presence of key industry players and rising consumer awareness contribute to market dominance.
Asia-Pacific:
Asia-Pacific is the fastest-growing region, fueled by rapid urbanization, increasing disposable incomes, and the proliferation of mid-range and premium smartphones. Countries like India, China, and Japan are key growth contributors, as smartphone adoption and mobile insurance awareness expand.
Market Dynamics
Market Drivers
The increasing cost of smartphones, rising consumer awareness, and growing concerns over accidental damage and theft are primary growth drivers. Additionally, the integration of AI-driven security features and real-time tracking solutions enhances the market appeal.
Market Restraints
Despite strong demand, factors such as high service costs, limited consumer understanding of coverage terms, and competition from device manufacturers offering in-built warranties pose challenges to market expansion. Additionally, fraudulent claims impact service provider profitability.
Market Opportunities
The rise of 5G smartphones and foldable devices is creating new opportunities for specialized protection plans. Additionally, the growing adoption of subscription-based mobile protection services presents lucrative prospects for insurers and telecom providers.
Reasons to Buy the Report
✔ Comprehensive Market Analysis: Gain insights into market size, growth trends, and key drivers shaping the industry.
✔ Regional Breakdown: Understand the growth dynamics across key regions, including North America, Europe, Asia-Pacific, and more.
✔ Competitive Landscape: Identify leading players and emerging competitors in the mobile handset protection space.
✔ Future Market Projections: Access data-backed forecasts to make informed business decisions.
✔ Emerging Technologies & Innovations: Learn about advancements in AI-based tracking, theft prevention, and warranty services.
Frequently Asked Questions (FAQs)
How big is the Mobile Handset Protection Market in 2024?
Who are the key players in the global Mobile Handset Protection Market?
What is the projected growth rate of the market from 2024 to 2031?
What is the market forecast for 2032?
Which region is estimated to dominate the industry through the forecast period?
Company Insights & Recent Developments
Key Players in the Market
• AppleCare+
• Samsung Care+
• Asurion
• SquareTrade
• Allianz Global Assistance
• AmTrust Financial
Recent Market Developments
• Samsung Care+ expanded its coverage options in 2024, offering enhanced theft protection and extended service plans.
• Asurion partnered with major telecom operators to introduce AI-powered mobile security and claim processing solutions.
Conclusion
The Mobile Handset Protection Market is evolving rapidly, driven by rising smartphone costs, increasing consumer awareness, and advancements in security solutions. With North America leading the industry and Asia-Pacific experiencing strong growth, businesses in the sector must adapt to emerging trends such as AI-driven security features and subscription-based protection plans. As the market expands, innovation and strategic partnerships will be crucial for sustained success.
Contact Us:
Persistence Market Research
G04 Golden Mile House, Clayponds Lane
Brentford, London, TW8 0GU UK
USA Phone: +1 646-878-6329
UK Phone: +44 203-837-5656
Email: sales@persistencemarketresearch.com
Web: https://www.persistencemarketresearch.com
About Persistence Market Research:
At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.
Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.
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 Handset Protection Market Predicted to Reach USD 38.1 Billion by 2031 | Persistence Market Research here
News-ID: 3950410 • Views: …
More Releases from Persistence Market Research
Plastic Liner Market to Reach US$ 6.67 Bn by 2030, Expanding at 4.7% CAGR - Pers …
➤ Overview of the Market
The global plastic liner market has gained steady traction across multiple industries due to its cost-effectiveness, versatility, and protective characteristics. Plastic liners are widely used in agriculture, mining, construction, waste management, and packaging industries, where they serve as an essential barrier to prevent leakage, contamination, and material loss. These liners are manufactured using materials such as polyethylene (PE), polypropylene (PP), and PVC, offering superior resistance to…
Returnable Plastic Crate Market to Reach US$ 2,665.1 Million by 2030 Fueled by S …
➤ Overview of the Market
The global returnable plastic crate market is gaining momentum as industries seek cost-effective and sustainable packaging solutions. These crates are widely used for transporting and storing perishable goods, beverages, pharmaceuticals, and industrial products due to their durability, stackability, and reusability. The shift from single-use packaging to eco-friendly alternatives has accelerated the adoption of returnable plastic crates across sectors. The market, valued at US$ 1,820.0 million in…
US Thermal Power Market Expected to Reach US$ 251.9 Mn by 2031 with 2.4% CAGR Gr …
➤Overview of the Market
The US thermal power market plays a crucial role in the nation's energy mix, serving as a stable and reliable source of electricity despite the rise of renewables. Thermal power plants in the US rely primarily on coal, natural gas, and oil to generate electricity, with natural gas emerging as the dominant fuel source due to its affordability, efficiency, and lower carbon footprint compared to coal. According…
Europe Medical Plastic Market to Reach US$ 17 Bn by 2032 Driven by Rising Health …
➤Overview of the Market
The Europe medical plastic market is undergoing robust growth, fueled by increasing demand for lightweight, durable, and cost-effective materials in the healthcare sector. Medical plastics are widely used in devices, surgical instruments, diagnostic tools, implants, and packaging due to their high biocompatibility, versatility, and resistance to sterilization methods. With healthcare systems across Europe investing heavily in modernization and patient safety, the adoption of medical-grade plastics has gained…
More Releases for Mobile
Global Mobile Wallet Market, Global Mobile Wallet Industry, Market Revenue, Mark …
The digital wallet is the engine of mobile commerce and also agreements an evolutionary path to decrease the friction in the transaction and optimize consumer satisfaction. The users are interested towards gorgeous cash backs and loyalty coupons suggested by dissimilar mobile wallet corporates. The mobile wallet market in the report denotes to payment services functioned under financial regulation and functioned through a mobile device instead of paying with cheques, cash, or credit cards.…
Asia - Mobile Infrastructure and Mobile Broadband
Bharat Book Bureau Provides the Trending Market Research Report on "Asia - Mobile Infrastructure and Mobile Broadband" under Telecom category. The report offers a collection of superior market research, market analysis, competitive intelligence and industry reports.
Executive Summary
Leading Asian nations prepare for 5G rollouts
Asia’s mobile subscriber market is now witnessing moderate growth in a fast maturing market. Whilst there are still developing markets continuing to grow their mobile subscriber base at…
Mobile Virtual Network Operator (MVNO) Market Analysis by Top Key Players Tracfo …
The mobile virtual network operator (MVNO) is also referred to as the mobile other licensed operator (MOLO), or the virtual network operator (VNO), is the remote service of communication which does not claim the remote network infrastructure on which it gives the customer the services.
Get Sample Copy of this Report @ https://www.bigmarketresearch.com/request-sample/2835705?utm_source=RK&utm_medium=OPR
The MVNO goes into the business agreement with the mobile network operator for acquiring more access to…
Mobile Virtual Network Operator (MVNO) Market Comprehensive Study 2018: Boost Mo …
Global Mobile Virtual Network Operator (MVNO) market report provides a thorough synopsis on the study for market and how it is changing the industry. The data and the information regarding the industry are taken from reliable sources such as websites, annual reports of the companies, journals, and others and were checked and validated by the market experts. Mobile Virtual Network Operator (MVNO) Market report includes historic data, present market trends,…
Asia - Mobile Infrastructure And Mobile Broadband
Asian mobile broadband market continues to grow strongly
With 3.9 billion mobile subscribers and over 50% of the mobile subscribers in the world, spread across a diverse range of markets, the region is already rapidly advancing in the adoption of mobile broadband services. Mobile broadband as a proportion of the total Asian mobile broadband subscriber base, has increased from 2% in 2008 to 18% in 2013, 27% in 2014, 33% in…
Mobile Money Market Trends, Public Demand and Worldwide Strategy - Mobile Commer …
The mobile money market report provides an analysis of the global mobile money market for the period 2014 – 2024, wherein 2015 is the base year and the period from 2016 to 2024 is the forecast period. Data for 2014 has been included as historical information. The report covers all the prevalent trends playing a major role in the growth of the mobile money market over the forecast period. It…
