Press release
Mobile Phone Insurance Market Size to Hit USD 83.1 Billion by 2033 | With a CAGR of 8.4%
Market Overview:The mobile phone insurance market is experiencing rapid growth, driven by rising smartphone repair costs, shift to subscription models, and demand for bundled offerings. According to IMARC Group's latest research publication, "Mobile Phone Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033′′. The global mobile phone insurance market size was valued at USD 40.28 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 83.1 Billion by 2033, exhibiting a CAGR of 8.4% during 2025-2033.
This detailed analysis primarily encompasses industry size, business trends, market share, key growth factors, and regional forecasts. The report offers a comprehensive overview and integrates research findings, market assessments, and data from different sources. It also includes pivotal market dynamics like drivers and challenges, while also highlighting growth opportunities, financial insights, technological improvements, emerging trends, and innovations. Besides this, the report provides regional market evaluation, along with a competitive landscape analysis.
Grab a sample PDF of this report: https://www.imarcgroup.com/mobile-phone-insurance-market/requestsample
Our report includes:
● Market Dynamics
● Market Trends And Market Outlook
● Competitive Analysis
● Industry Segmentation
● Strategic Recommendations
Factors Affecting the Growth of the Mobile Phone Insurance Industry:
● Rising Smartphone Repair Costs:
The increasing complexity and cost of smartphone repairs are driving demand for mobile phone insurance. High-end devices with advanced features like foldable screens and ceramic backs often require specialized parts and labor, making out-of-pocket repairs prohibitively expensive. Consumers are recognizing that insurance offers a cost-effective solution, reducing financial strain when accidents happen. As repair expenses continue to climb, more users are opting for coverage, fueling market growth.
● Shift to Subscription Models:
Mobile phone insurance is evolving from one-time purchases to flexible subscription plans. Providers are offering monthly payment options, making coverage more accessible and appealing to budget-conscious consumers. This shift aligns with broader trends in digital services, where subscribers prefer low-commitment, scalable solutions. By removing upfront costs and long-term contracts, insurers are attracting younger demographics and increasing retention rates, reshaping the industry's revenue streams.
● Demand for Bundled Offerings:
Consumers increasingly prefer bundled insurance packages that cover multiple risks-such as theft, damage, and extended warranties-under a single plan. Carriers and retailers are responding by partnering with insurers to offer value-added services, enhancing customer loyalty. These bundles simplify decision-making and provide comprehensive protection, making them a key differentiator in a competitive market. As convenience becomes a priority, demand for all-in-one solutions is expected to surge.
Buy Full Report: https://www.imarcgroup.com/checkout?id=1292&method=1670
Leading Companies Operating in the Global Mobile Phone Insurance Industry:
● 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
● Telefónica Insurance S.A.
● Verizon Communications Inc.
● Vodafone Group Plc
● Xiaomi Corporation
● Orange S.A.
Mobile Phone Insurance Market Report Segmentation:
By Phone Type:
● New Phone
● Refurbished
The new phone represented the largest segment due to the rising need to reduce high replacement costs.
By Coverage:
● 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.
By Distribution Channel:
● 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.
By End User:
● 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.
Regional Insights:
● 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.
Ask Analyst for Sample Report: https://www.imarcgroup.com/request?type=report&id=1292&flag=C
Research Methodology:
The report employs a comprehensive research methodology, combining primary and secondary data sources to validate findings. It includes market assessments, surveys, expert opinions, and data triangulation techniques to ensure accuracy and reliability.
Note: If you require specific details, data, or insights that are not currently included in the scope of this report, we are happy to accommodate your request. As part of our customization service, we will gather and provide the additional information you need, tailored to your specific requirements. Please let us know your exact needs, and we will ensure the report is updated accordingly to meet your expectations.
About Us:
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
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
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