Mobile Phone Insurance Ecosystem Market – Global Industry Analysis and Forecast (2022-2029)

Mobile Phone Insurance Ecosystem Market was valued US$ 23.67 Bn in 2021 and is expected to reach US$ 44.71 Bn by 2029 at a CAGR of 8.27 %.

This report provides a detailed analysis of the market segment based on insurance type, sales channel and region. This report also focuses on the top players in North America, Europe, Asia Pacific, Middle East & Africa, and South America.

The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.

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The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the global mobile phone insurance ecosystem market dynamics, structure by identifying and analysing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global mobile phone insurance ecosystem market.

Mobile insurance needs protection coverage for devices against physical damage, lost or stolen devices, and malfunctions. Mobile phone insurance ecosystem is a network or an interconnected set of services or interconnected systems that allow users to fulfil a variety of needs in one integrated experience and contains insurance providers and customers. The ecosystem is used by insurers for providing enhanced and timely services to their consumers. It also helps customers to check important information accessible online.

Key factors driving the growth of the global mobile phone insurance ecosystem market are the rising number of smartphones users and increasing incidences of phone thefts, accidental damage, device malfunction, and loss of the device. Additionally, phones are prone to physical and technical damage, and the growing cost of smartphones is driving the need to opt for phone insurance policies.

However, the high cost of mobile phone insurance and unclear terms and conditions are major factors expected to hamper the growth of the mobile phone insurance ecosystem market globally to a certain extent.

Theft & loss insurance type segment has been estimated to account for highest market share in 2021 and is expected to continue its dominance during the forecast period, because of an increased incidence of theft of devices, clubbed with a growing introduction of high-cost mobile devices in the market.

Physical damage insurance segment has been estimated to account for second-highest market share in 2021. The physical damage insurance type segment in the global mobile phone insurance ecosystem market is expected to register second-highest CAGR in terms of revenue contribution during the forecast period.

Region-wise, North America is dominating the global market for mobile phone insurance ecosystem market. High penetration of mobile phones especially, smartphones in the US, coupled with the growing trend of buying an insurance plan owing to increasing costs of mobile phones and increasing cases of theft of smartphones are key factors driving the growth of the US mobile phone insurance ecosystem market.

Europe accounted for the second-largest market share in the mobile phone insurance ecosystem market in 2021 and is anticipated to register the highest CAGR throughout the forecast period. This can be attributed to growing insurance sector in countries in Europe, especially, the UK and France, growing ownership of smartphones in these countries, and increasing cases of smartphone theft are major factors boosting demand for mobile insurance and in turn driving growth of the Europe mobile phone insurance ecosystem market.

The report also studies numerous growth strategies that are mergers and acquisitions, partnerships and collaborations, and developments, adopted by major players to expand their presence in the global mobile phone insurance ecosystem market.
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Mobile Phone Insurance Ecosystem Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 23.67 Bn.


Forecast Period 2022 to 2029 CAGR:
8.27%
Market Size in 2029:
US $ 44.71 Bn.


 Segments Covered:
by Insurance Type
• Physical Damage
• Theft & Loss
• Other


by Sales Channel
• Direct Channel
• Distribution Channel


by Phone Type
• Budget Phones
• Mid & High-End Phones
• Premium Smartphones



Mobile Phone Insurance Ecosystem Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Mobile Phone Insurance Ecosystem Market Key Players
• Acer
• Allstate Corporation (SquareTrade)
• Aon
• Apple
• Assurant
• Asurion
• ASUS (ASUSTeK Computer)
• AT&T
• Avast Software
• Aviva
• BBVA Seguros
• BlackBerry
• Bouygues Telecom
• Brightstar Corporation
• Cellebrite (Mobilogy)
• Conecta Serviços
• Dixons Carphone
• DT (Deutsche Telekom)
• Grupo MOK (MultiServicios OK)
• HL Assurance
• Hollard Group
• HTC Corporation
• IAG (Insurance Australia Group)
• IC Frith
• Ingram Micro
• Inhance Technology
• iQmetrix
• Itaú Unibanco
• Kaspersky Lab
• KB Insurance
• Lenovo
• LG Electronics
• Liberty Mutual Insurance Group
• Microsoft Corporation
• Mobile Rhino (Stuckey & Company)
• MPI Generali
• NIA (New India Assurance)
• NQ Mobile
• NTT DoCoMo
• Orange
• Pacífico Seguros
• Pier Insurance Managed Services
• Pitzi
• Protecsure
• ProtectCELL (Fortegra Financial Corporation)
• Rakuten
• Risk Insure
• Safeware
• Samsung Electronics
• SFR
• Simplesurance
• Singtel
• Sony Mobile Communications
• SPB
• Sprint Corporation
• Supercover Insurance
• Symantec Corporation
• Telefónica Insurance
• Telstra
• The Warranty Group.3
• Trend Micro
• Verizon Communications
• V-Key Solutions
• Vodafone Group
• Worth Avenue Grou
• Xiaomi
• Zimperium

Frequently Asked Questions:

1. Which region has the largest share in Global Mobile Phone Insurance Ecosystem Market?
Ans: North America region held the highest share in 2021.

2. What is the growth rate of Global Mobile Phone Insurance Ecosystem Market?
Ans: The Global Mobile Phone Insurance Ecosystem Market is growing at a CAGR of 8.27% during forecasting period 2022-2029.

3. What is scope of the Global Mobile Phone Insurance Ecosystem Market report?
Ans: Global Mobile Phone Insurance Ecosystem Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Mobile Phone Insurance Ecosystem Market?
Ans: The important key players in the Global Mobile Phone Insurance Ecosystem Market are – Acer, Allstate Corporation (SquareTrade), Aon, Apple, Assurant, Asurion, ASUS (ASUSTeK Computer), AT&T, Avast Software, Aviva, BBVA Seguros, BlackBerry, Bouygues Telecom, Brightstar Corporation, Cellebrite (Mobilogy), Conecta Serviços, Dixons Carphone, DT (Deutsche Telekom), Grupo MOK (MultiServicios OK), and HL Assurance

5. What is the study period of this Market?
Ans: The Global Mobile Phone Insurance Ecosystem Market is studied from 2021 to 2029.