Mobile Phone Insurance Market Size Worth USD 38.2 Billion by 2025 | CAGR: 13.8%

The mobile phone insurance market is expected to grow at CAGR of 13.8% to reach USD 38.2 billion by 2025.

Mobile is a pervasive element and plays an important role in the day to day lifestyle that has put the mobile on the agenda of insurance boards. Mobile phone insurance is the policy dedicated to mobile phones to protect them from various damages and losses such as fire, damage, accident, theft, and other unexpected conditions. Growing customer expectations coupled with a dynamic competitive landscape are augmenting the demand for insurance in the mobile industry.

The Global Mobile Phone Insurance Market report focuses on industry development trends and marketing channels. Also, the feasibility of new investment projects is assessed and overall research conclusions offered. With the tables and figures, the published report provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.

KEY TAKEAWAY

• The product segment is categorized as electronic damage, virus protection, physical damage, and theft protection. Of these, the Virus Protection segment is growing with the fastest growth rate owing to the increasing incidences of mobile security threats from viruses such as spyware and malware.
• Regionally, developing regions such as Asia Pacific is projected to register the fastest growth rate owing to the strategic collaborations of mobile players with insurance firms coupled with favourable government initiatives
• Companies such as Apple Inc., AmTrust International, American International Group, Geek Squad, GoCare Warranty, and Aviva are actively operating in this industry
• Insurance vendors in this industry are constantly improving their product policies with added benefits such as data protection, recovery features, and extensive technical support in order to attract a large customer base

SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

MARKET, BY PRODUCTS

• Virus Protection
• Physical Damage
• Electronic Damage
• Theft Protection

MARKET, BY SALES CHANNEL

• Mobile Operators
• Device OEMs
• Retailers
• Others

MARKET, BY REGION

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • Rest of Europe
• Asia Pacific
  • India
  • China
  • Rest of APAC
• Rest of the World
  • Middle East and Africa
  • Latin America