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Mobile Phone Insurance Trends and Forecast
The future of the global mobile phone insurance market looks promising with opportunities in the business and individual markets. The global mobile phone insurance market is expected to reach an estimated $48.0 billion by 2030 with a CAGR of 9.7% from 2024 to 2030. The major drivers for this market are upsurge in the adoption of premium-quality smartphones, substantial replacement cost of various mobile phone components, as well as, increasing occurrences of accidental damage, phone thefts, and device malfunctions.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Mobile Phone Insurance by Segment
The study includes a forecast for the global mobile phone insurance by coverage type, phone type, end use, and region.
Mobile Phone Insurance Market by Coverage Type [Shipment Analysis by Value from 2018 to 2030]:
• Physical Damage
• Internal Component Failure
• Theft & Loss Protection
• Others
Mobile Phone Insurance Market by Phone Type [Shipment Analysis by Value from 2018 to 2030]:
• Budget Phones
• Mid & High-End Phones
• Premium Smartphones
Mobile Phone Insurance Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Business
• Individuals
Mobile Phone Insurance Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Mobile Phone Insurance Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies mobile phone insurance companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the mobile phone insurance companies profiled in this report include-
• Apple
• American International
• Assurant
• Asurion
• AT&T
• Amtrust Financial
• Brightstar
• Gocare Warranty Group
• Squaretrade
• Taurus Insurance
Mobile Phone Insurance Market Insights
Lucintel forecasts that premium smartphone is expected to witness highest growth over the forecast period due to increasing need to provide enhance security to phones as premium phones are more prone to technical and physical damages.
North America will remain the largest segment over the forecast period due to abundance of mobile phone insurance providers in conjunction with the growing instances of crimes involving smartphones in Canada and the United States.
Features of the Global Mobile Phone Insurance Market
Market Size Estimates: Mobile Phone Insurance Market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Mobile Phone Insurance Market size by coverage type, phone type, end use, and region in terms of value ($B).
Regional Analysis: Mobile Phone Insurance Market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different coverage type, phone type, end use, and regions for the mobile phone insurance market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the mobile phone insurance market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the mobile phone insurance market size?
Answer: The global mobile phone insurance market is expected to reach an estimated $48.0 billion by 2030.
Q.2 What is the growth forecast for mobile phone insurance market?
Answer: The global mobile phone insurance market is expected to grow with a CAGR of 9.7% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the mobile phone insurance market?
Answer: The major drivers for this market are upsurge in the adoption of premium-quality smartphones, substantial replacement cost of various mobile phone components, as well as, increasing occurrences of accidental damage, phone thefts, and device malfunctions.
Q4. What are the major segments for mobile phone insurance market?
Answer: The future of the global mobile phone insurance market looks promising with opportunities in the business and individual markets.
Q5. Who are the key Mobile Phone Insurance Market companies?
Answer: Some of the key mobile phone insurance companies are as follows:
• Apple
• American International
• Assurant
• Asurion
• AT&T
• AmTrust Financial
• Brightstar
• GoCare Warranty Group
• SquareTrade
• Taurus Insurance
Q6. Which mobile phone insurance market segment will be the largest in future?
Answer: Lucintel forecasts that premium smartphone is expected to witness highest growth over the forecast period due to increasing need to provide enhance security to phones as premium phones are more prone to technical and physical damages.
Q7. In mobile phone insurance market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest segment over the forecast period due to abundance of mobile phone insurance providers in conjunction with the growing instances of crimes involving smartphones in Canada and the United States.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the mobile phone insurance market by coverage type (physical damage, internal component failure, theft & loss protection, and others), phone type (budget phones, mid & high-end phones, and premium smartphones), end use (business and individuals), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Mobile Phone Insurance Market, Mobile Phone Insurance Market Size, Mobile Phone Insurance Market Growth, Mobile Phone Insurance Market Analysis, Mobile Phone Insurance Market Report, Mobile Phone Insurance Market Share, Mobile Phone Insurance Market Trends, Mobile Phone Insurance Market Forecast, Mobile Phone Insurance Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Mobile Phone Insurance Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Mobile Phone Insurance Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Mobile Phone Insurance Market by Coverage Type
3.3.1: Physical Damage
3.3.2: Internal Component Failure
3.3.3: Theft & Loss Protection
3.3.4: Others
3.4: Global Mobile Phone Insurance Market by Phone Type
3.4.1: Budget Phones
3.4.2: Mid & High-End Phones
3.4.3: Premium Smartphones
3.5: Global Mobile Phone Insurance Market by End Use
3.5.1: Business
3.5.2: Individuals
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Mobile Phone Insurance Market by Region
4.2: North American Mobile Phone Insurance Market
4.2.1: North American Mobile Phone Insurance Market by Phone Type: Budget Phones, Mid & High-End Phones, and Premium Smartphones
4.2.2: North American Mobile Phone Insurance Market by End Use: Business and Individuals
4.3: European Mobile Phone Insurance Market
4.3.1: European Mobile Phone Insurance Market by Phone Type: Budget Phones, Mid & High-End Phones, and Premium Smartphones
4.3.2: European Mobile Phone Insurance Market by End Use: Business and Individuals
4.4: APAC Mobile Phone Insurance Market
4.4.1: APAC Mobile Phone Insurance Market by Phone Type: Budget Phones, Mid & High-End Phones, and Premium Smartphones
4.4.2: APAC Mobile Phone Insurance Market by End Use: Business and Individuals
4.5: ROW Mobile Phone Insurance Market
4.5.1: ROW Mobile Phone Insurance Market by Phone Type: Budget Phones, Mid & High-End Phones, and Premium Smartphones
4.5.2: ROW Mobile Phone Insurance Market by End Use: Business, and Individuals
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Mobile Phone Insurance Market by Coverage Type
6.1.2: Growth Opportunities for the Global Mobile Phone Insurance Market by Phone Type
6.1.3: Growth Opportunities for the Global Mobile Phone Insurance Market by End Use
6.1.4: Growth Opportunities for the Global Mobile Phone Insurance Market by Region
6.2: Emerging Trends in the Global Mobile Phone Insurance Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Mobile Phone Insurance Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Mobile Phone Insurance Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: Apple
7.2: American International
7.3: Assurant
7.4: Asurion
7.5: AT&T
7.6: AmTrust Financial
7.7: Brightstar
7.8: GoCare Warranty Group
7.9: SquareTrade
7.10: Taurus Insurance
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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