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Mobile Phone Insurance is defined as an insurance product that covers certain insured events arising in relation to mobile phones. This report is focused on insurance products that exclusively have their primary focus to provide coverage against some kind of damage (loss, theft, physical damage, etc.) of mobile phones.
Scope of the Report:
Based on regions, North America and Europe are relatively mature market which are navigating the market. In 2018, total North America Mobile Phone Insurance Market Size is estimated to be 10625 Million USD, growing at a CAGR of 10.43% from 2013 to 2018. Total Europe Mobile Phone Insurance Market Size is estimated to be 6795 Million USD, growing at a CAGR of 11.72% from 2013 to 2018. APAC is expected to be the fastest growing market, especially for the rapid growing China and India market. In 2018, total APAC Mobile Phone Insurance Market Size is estimated to be 4111 Million USD, growing at a CAGR of 20.73% from 2013.
Based on sales channels, in an effort to boost the uptake of mobile phone insurance, wireless carriers and insurance providers have extensively enhanced their insurance offerings with the addition of location tracking, data protection/recovery features and integrated technical support. The success of mobile phone insurance plans has driven several wireless carriers, to invest in the sales of other insurance products through mobile phones and their retail outlets. New insurance models are also beginning to emerge. Device OEMs are beginning to invest in tailored plans to suit the specific requirements of certain regional markets.
The global Mobile Phone Insurance market is valued at 20200 million USD in 2018 and is expected to reach 34200 million USD by the end of 2024, growing at a CAGR of 9.2% between 2019 and 2024.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Mobile Phone Insurance.
Europe also play important roles in global market, with market size of xx million USD in 2019 and will be xx million USD in 2024, with a CAGR of xx%.
This report studies the Mobile Phone Insurance market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Mobile Phone Insurance market by product type and applications/end industries.
Market Segment by Companies, this report covers
- Hollard Group
- Chubb (ACE)
- Allianz Insurance
Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
- Wireless Carrier
- Mobile Phone Operators & Retailers
- Other Channels
Market Segment by Applications, can be divided into
- Physical Damage
- Theft & Loss