Mobile Phone Insurance Market Report 2021-2026 | Industry Trends, Market Share, Size, Growth and Opportunities

According to the latest report by IMARC Group, titled, “Mobile Phone Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, provide the global mobile phone insurance market is expected to exhibit strong growth during the next five years. The report provides a detailed analysis of the market by type (new and refurbished phones), coverage (physical damage, electronic damage, virus protection, data protection and theft protection), distribution channel (mobile operators, device original equipment manufacturers (OEMs), retailers, online and others), end-user (corporate and personal segments) and geography (Asia-pacific, Europe, Latin America, North America, and Middle East and Africa). Also, the report analyzes the market’s competitive landscape.

Report Metric

Historical: 2015-2020

Base Year: 2020

Forecast Year: 2021-2026

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Industry Definition and Application:

Mobile phone insurance is a risk-transfer mechanism that ensures full or partial financial compensation for smartphones against damages and losses caused by events that are beyond the control of the insured party. It usually covers internal component failure, theft and loss damage, virus and data protection, and physical damage caused due to a fire, accident and water or liquid damage. At present, there is a rise in the demand for mobile phone insurance owing to the boosting sales of high-end smartphones and the hefty replacement costs in case of loss or breakdown.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Market Trends and Drivers:

Mobile phones play a vital role in the modern lifestyle since they serve as a platform for communication, entertainment, education, and digital transactions. Owing to this, there is an increase in the number of consumers who are looking for effective ways to ensure the safety of their mobile devices. In line with this, the rising incidences of phone thefts, accidental damages and device malfunctioning, in confluence with the ease in the claiming procedure, facility to upgrade policies, and the extension of coverage for including accessories, have also contributed to the market growth. Furthermore, several mobile phone manufacturers are collaborating with insurance providers, which in turn is anticipated to impel the market growth in the coming years.

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Mobile Phone Insurance Market Segmentation:

The report has segmented on the basis of phonet type, coverage, distributional channel, end-use and geography.

By Phone Type:

1. New Phone

2. Refurbished

By Coverage:

1. Physical Damage

2. Electronic Damage

3. Virus Protection

4. Data Protection

5. Theft Protection

By Distribution Channel:

1. Mobile Operators

2. Device OEMs

3. Retailers

4. Online

5. Others

By End-User:

1. Corporate

2. Personal

By Geography:

1. Europe

2. North America

3. Asia Pacific

4. Middle East and Africa

5. Latin America

Who are the Major Mobile Phone Insurance Key players?

The report provides a detailed analysis of the mobile phone insurance market leaders, including.

  • American International Group (AIG), Inc.,
  • Allianz SE,
  • AmTrust International Underwriters DAC,
  • 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 Corporation,
  • Sprint Corporation,
  • Telefónica Insurance S.A.,
  • Verizon Communications Inc.,
  • Vodafone Group Plc,
  • Xiaomi Corporation and Orange S.A.

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Smith Ivo

Five years in chemical & material has made Ivo Smith more or less an expert in everything related to medicines, drugs, chemicals and related sectors – at least from the PR front. Through his insider access to the sector, he has gained valuable insight into the entire manufacturing process of chemical and material.
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