Mobile Phone Insurance Market Report: Trends, Forecast and Competitive Analysis to 2030

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.

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?