According to new research study on Mobile Phone Insurance Market research report provides size, share, trends, analysis report contains all study material about market industry overview, growth, demand and forecast research in all over the world. The report also analyses the competitive structure of the Mobile Phone Insurance and provides the profiles of major players operating in the market. Growth inducing factors, market restraints and recent developments have also been analyzed in the report in order to provide deeper knowledge about the industry.

The mobile phone insurance market value is expected to grow from US$ 27,291.83 million in 2021 to US$ 53,161.84 million by 2028; the market is estimated to grow at a CAGR of 10.4% from 2022 to 2028.

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The mobile phone insurance market is experiencing significant growth with innovations, and policy and scheme upgrades by companies. The market consists of some well-established players, region along with small firms offering single coverage type. The mobile phone insurance market is concentrated with mobile network operators, device OEMs, retailers, etc. These market participants enhance their schemes as per the requirements of customers. In addition, the smartphones market is significantly growing with the launch of new phones and demand for refurbished phones. Smartphones are prone to physical and technological damages. Accidents, liquid spillage, and fall are among the key causes of the physical damage to phone, while overcharging and voltage fluctuations are among the prime causes of technological/electronic damage. Theft or the loss of the device is another potential threat to smartphone ownership.

Key Players Covered In This Report:

• American International Group, Inc.
• Allianz SE
• Apple Inc.
• ATT Inc.
• Aviva insurance Limited
• Better Buy Insurance
• Gadget Cover
• Insurance2go
• Telefónica Limited
• Pier Insurance Managed Services Ltd

The mobile phone insurance market is flourishing with the evolution of the 4G networks and the Internet of Things (IoT), which fuels the adoption of mobile phones. In 2020, 472 million Europeans (86% of the population) signed up for mobile services. Furthermore, artificial intelligence (AI) and 5G networks are the next frontiers that would contribute to the market growth.

The research provides answers to the following key questions:

• What is the estimated growth rate of the market for the forecast period 2022-2028? What will be the market size during the estimated period?
• What are the key driving forces responsible for shaping the fate of the Mobile Phone Insurance market during the forecast period?
• Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Mobile Phone Insurance market?
• What are the prominent market trends influencing the development of the Mobile Phone Insurance market across different regions?
• What are the major threats and challenges likely to act as a barrier in the growth of the Mobile Phone Insurance market?
• What are the major opportunities the market leaders can rely on to gain success and profitability?

MARKET SEGMENTATION

The mobile phone insurance market has been segmented on the basis of coverage, sales channel, phone type, and end user. Based on coverage, the market has been segmented into physical damage, electronic damage, virus protection, and theft protection. Based on sales channel, the market is categorized into mobile operators, device OEMs, retailers, and others. Based on phone type, the mobile phone insurance market is segmented into new phones and refurbished phones. By end-user, the market is bifurcated into corporate and personal.

The report covers the main drivers in the industry. In addition to the competitive planning in this area, it also provides an in-depth analysis of key growth trends and market prospects in the years to come. The research report also provides a clearer understanding of market trends for all manufacturers and investors.

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