PUBLISHER: Persistence Market Research | PRODUCT CODE: 1607951
PUBLISHER: Persistence Market Research | PRODUCT CODE: 1607951
Mobile Handset Protection Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2031
Persistence Market Research has recently released an insightful report on the global Mobile Handset Protection Market, offering an in-depth analysis of crucial market dynamics, including key drivers, emerging trends, growth opportunities, and challenges. This report provides a comprehensive understanding of the market landscape and its structural elements.
Key Insights:
- Mobile Handset Protection Market Size (2024E): USD 24.6 Bn
- Projected Market Value (2031F): USD 38.1 Bn
- Global Market Growth Rate (CAGR 2024 to 2031): 6.4%
Mobile Handset Protection Market - Report Scope:
Mobile handset protection encompasses services and solutions aimed at safeguarding smartphones and other mobile devices from theft, accidental damage, and software malfunctions. These offerings cater to both individuals and businesses, providing peace of mind, extending device longevity, and reducing repair and replacement costs. The market's growth is driven by the rising adoption of smartphones, escalating device costs, and growing consumer awareness about protection plans. Enhanced offerings, including real-time tracking, advanced theft prevention features, and extended warranties, are reshaping market dynamics and appealing to a tech-savvy and security-conscious audience.
Market Growth Drivers:
The global Mobile Handset Protection Market is experiencing significant growth driven by several key factors. Increasing smartphone penetration, particularly in emerging economies, fuels demand for protection services as high-value devices require solutions to ensure their security and functionality. Rising repair costs, driven by advanced technologies like foldable screens and 5G connectivity, make protection plans increasingly attractive to consumers. Technological advancements, including AI-powered diagnostic tools and remote assistance, enhance the efficiency and user experience of these services. The growth of e-commerce further bolsters the market by enabling easy access and renewal of protection plans. Additionally, enterprise adoption of handset protection solutions to safeguard employees' devices ensures business continuity and operational productivity, further driving market expansion.
Market Restraints:
Despite its growth potential, the Mobile Handset Protection Market faces notable challenges. High plan costs, particularly for premium protection options, deter adoption in price-sensitive markets. Limited consumer awareness, especially in rural areas, restricts the market's reach and potential. Complex and time-consuming claim processes can discourage customers from subscribing to these services. Additionally, competition from unorganized local players offering low-cost alternatives presents a significant challenge to established brands, impacting their market share and profitability.
Market Opportunities:
The Mobile Handset Protection Market presents numerous growth opportunities fueled by evolving consumer needs and technological advancements. Expanding smartphone penetration in emerging markets such as Asia-Pacific, Africa, and Latin America creates significant demand for protection services. Collaborations with OEMs enable seamless integration of protection plans at the point of sale, enhancing accessibility and adoption. Digital transformation through mobile apps and cloud-based systems simplifies plan management, improves user experience, and strengthens customer engagement. Offering customizable and flexible plans tailored to diverse consumer needs broadens the market appeal. Additionally, as IoT devices gain popularity, extending protection services to cover smart devices presents a lucrative avenue for unlocking new revenue streams.
Key Questions Answered in the Report:
- What are the key factors driving the global demand for mobile handset protection services?
- Which customer segments dominate the adoption of protection plans?
- How do technological advancements impact the competitive dynamics of the Mobile Handset Protection Market?
- Who are the major players in the Mobile Handset Protection Market, and what strategies do they employ to maintain their market position?
- What are the anticipated trends and future outlook for the global Mobile Handset Protection Market?
Competitive Intelligence and Business Strategy:
Leading companies in the global Mobile Handset Protection Market focus on innovation, strategic collaborations, and customer-centric approaches to strengthen their market position. These companies invest heavily in technology to offer seamless claim processes, AI-driven diagnostics, and instant customer support. Collaborations with retailers, telecom operators, and OEMs further expand their market reach.
Emphasis on affordability, transparency, and personalized plans ensures broader adoption of protection services across diverse demographics. Training programs and partnerships with service centers enhance operational efficiency and customer satisfaction.
Key Companies Profiled:
- American International Group, Inc.
- Apple Inc.
- Asurion LLC
- AT&T Mobility
- Best Buy Inc.
- Verizon Wireless
- Liberty Mutual Holding Company Inc
- Sprint Corp.
- Squaretrade,Inc.
- T-Mobile, Inc.
- Others
Mobile Handset Protection Industry Segmentation:
Protection Provider
- Mobile Operator/ Carrier
- Mobile Device OEM
- Direct-to-Consumer Services
- Other Channel (Retailers)
Pricing Model
- One Time Fee
- Monthly Fee
- Billed By Carrier/ OEM
Sales Channel
- Retail Chains
- Brand Stores
- E-Commerce /Online
Region
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
Table of Contents
1. Global Outlook
2. Global Mobile Handset Protection Market - Executive Summary
3. Global Mobile Handset Protection Market Overview
- 3.1. Introduction
- 3.1.1. Global Mobile Handset Protection Market Taxonomy
- 3.1.2. Global Mobile Handset Protection Market Definition
- 3.2. Global Mobile Handset Protection Market Size (US$ Bn) and Forecast, 2024-2031
- 3.2.1. Global Mobile Handset Protection Market Y-o-Y Growth
- 3.3. Global Mobile Handset Protection Market Dynamics
- 3.4. Value Chain Analysis
- 3.5. Service Provider List
- 3.6. Macroeconomic Factors
- 3.7. Factors Causing Consumer Subscription
- 3.8. Key Players
- 3.9. Mobile Handset Protection - Product Offering Categories
- 3.10. Mobile Handset security and Safety Incident Scenario
- 3.11. Regional Market Share
- 3.12. Key Participants Market Presence (Intensity Map) By Region
4. Global Mobile Handset Protection Market Analysis and Forecast 2024-2031
- 4.1. Global Mobile Handset Protection Market Size and Forecast By Protection Provider, 2024-2031
- 4.1.1. Mobile Operator/ Carrier Market Size and Forecast, 2024-2031
- 4.1.1.1. Revenue (US$ Bn) Comparison, By Region
- 4.1.1.2. Market Share Comparison, By Region
- 4.1.1.3. Y-o-Y growth Comparison, By Region
- 4.1.2. Mobile Device OEM Market Size and Forecast, 2024-2031
- 4.1.2.1. Revenue (US$ Bn) Comparison, By Region
- 4.1.2.2. Market Share Comparison, By Region
- 4.1.2.3. Y-o-Y growth Comparison, By Region
- 4.1.3. Direct-to-Consumer Services Market Size and Forecast, 2024-2031
- 4.1.3.1. Revenue (US$ Bn) Comparison, By Region
- 4.1.3.2. Market Share Comparison, By Region
- 4.1.3.3. Y-o-Y growth Comparison, By Region
- 4.1.4. Other Channel (Retailers) Market Size and Forecast, 2024-2031
- 4.1.4.1. Revenue (US$ Bn) Comparison, By Region
- 4.1.4.2. Market Share Comparison, By Region
- 4.1.4.3. Y-o-Y growth Comparison, By Region
- 4.1.1. Mobile Operator/ Carrier Market Size and Forecast, 2024-2031
- 4.2. Global Mobile Handset Protection Market Size and Forecast By Pricing Model, 2024-2031
- 4.2.1. One Time Fee Market Size and Forecast, 2024-2031
- 4.2.1.1. Revenue (US$ Bn) Comparison, By Region
- 4.2.1.2. Market Share Comparison, By Region
- 4.2.1.3. Y-o-Y growth Comparison, By Region
- 4.2.2. Monthly Fee Market Size and Forecast, 2024-2031
- 4.2.2.1. Revenue (US$ Bn) Comparison, By Region
- 4.2.2.2. Market Share Comparison, By Region
- 4.2.2.3. Y-o-Y growth Comparison, By Region
- 4.2.3. Billed By Carrier/ OEM Market Size and Forecast, 2024-2031
- 4.2.3.1. Revenue (US$ Bn) Comparison, By Region
- 4.2.3.2. Market Share Comparison, By Region
- 4.2.3.3. Y-o-Y growth Comparison, By Region
- 4.2.1. One Time Fee Market Size and Forecast, 2024-2031
- 4.3. Global Mobile Handset Protection Market Size and Forecast By Sales Channel, 2024-2031
- 4.3.1. Retail Chains Market Size and Forecast, 2024-2031
- 4.3.1.1. Revenue (US$ Bn) Comparison, By Region
- 4.3.1.2. Market Share Comparison, By Region
- 4.3.1.3. Y-o-Y growth Comparison, By Region
- 4.3.2. Brand Stores Market Size and Forecast, 2024-2031
- 4.3.2.1. Revenue (US$ Bn) Comparison, By Region
- 4.3.2.2. Market Share Comparison, By Region
- 4.3.2.3. Y-o-Y growth Comparison, By Region
- 4.3.3. E-Commerce /Online Market Size and Forecast, 2024-2031
- 4.3.3.1. Revenue (US$ Bn) Comparison, By Region
- 4.3.3.2. Market Share Comparison, By Region
- 4.3.3.3. Y-o-Y growth Comparison, By Region
- 4.3.1. Retail Chains Market Size and Forecast, 2024-2031
5. North America Mobile Handset Protection Market Size and Forecast, 2024-2031
- 5.1. North America Outlook
- 5.2. North America Parent Market Outlook
- 5.3. North America Target Market Outlook
- 5.4. Revenue (US$ Bn) Comparison, By Country
- 5.4.1. US Market Size and Forecast (US$ Bn), 2024-2031
- 5.4.2. Canada Market Size and Forecast (US$ Bn), 2024-2031
- 5.5. Revenue (US$ Bn) Comparison, By Protection Provider
- 5.6. Revenue (US$ Bn) Comparison, By Pricing Model
- 5.7. Revenue (US$ Bn) Comparison, By Sales Channel
6. Latin America Mobile Handset Protection Market Size and Forecast, 2024-2031
- 6.1. Latin America Outlook
- 6.2. Latin America Parent Market Outlook
- 6.3. Latin America Target Market Outlook
- 6.4. Revenue (US$ Bn) Comparison, By Country
- 6.4.1. Brazil Market Size and Forecast (US$ Bn), 2024-2031
- 6.4.2. Mexico Market Size and Forecast (US$ Bn), 2024-2031
- 6.4.3. Argentina Market Size and Forecast (US$ Bn), 2024-2031
- 6.4.4. Rest of Latin America Market Size and Forecast (US$ Bn), 2024-2031
- 6.5. Revenue (US$ Bn) Comparison, By Protection Provider
- 6.6. Revenue (US$ Bn) Comparison, By Pricing Model
- 6.7. Revenue (US$ Bn) Comparison, By Sales Channel
7. Europe Mobile Handset Protection Market Size and Forecast, 2024-2031
- 7.1. Europe Outlook
- 7.2. Europe Parent Market Outlook
- 7.3. Europe Target Market Outlook
- 7.4. Revenue (US$ Bn) Comparison, By Country
- 7.4.1. Germany Market Size and Forecast (US$ Bn), 2024-2031
- 7.4.2. UK Market Size and Forecast (US$ Bn), 2024-2031
- 7.4.3. France Market Size and Forecast (US$ Bn), 2024-2031
- 7.4.4. Russia Market Size and Forecast (US$ Bn), 2024-2031
- 7.4.5. Italy Market Size and Forecast (US$ Bn), 2024-2031
- 7.4.6. Rest of Europe Market Size and Forecast (US$ Bn), 2024-2031
- 7.5. Revenue (US$ Bn) Comparison, By Protection Provider
- 7.6. Revenue (US$ Bn) Comparison, By Pricing Model
- 7.7. Revenue (US$ Bn) Comparison, By Sales Channel
8. Japan Mobile Handset Protection Market Size and Forecast, 2024-2031
- 8.1. Japan Outlook
- 8.2. Japan Parent Market Outlook
- 8.3. Japan Target Market Outlook
- 8.4. Revenue (US$ Bn) Comparison, By Country
- 8.4.1. Japan Market Size and Forecast (US$ Bn), 2024-2031
- 8.5. Revenue (US$ Bn) Comparison, By Protection Provider
- 8.6. Revenue (US$ Bn) Comparison, By Pricing Model
- 8.7. Revenue (US$ Bn) Comparison, By Sales Channel
9. APEJ Mobile Handset Protection Market Size and Forecast, 2024-2031
- 9.1. APEJ Outlook
- 9.2. APEJ Parent Market Outlook
- 9.3. APEJ Target Market Outlook
- 9.4. Revenue (US$ Bn) Comparison, By Country
- 9.4.1. China Market Size and Forecast (US$ Bn), 2024-2031
- 9.4.2. India Market Size and Forecast (US$ Bn), 2024-2031
- 9.4.3. Australia and New Zealand Market Size and Forecast (US$ Bn), 2024-2031
- 9.4.4. ASEAN Market Size and Forecast (US$ Bn), 2024-2031
- 9.4.5. Rest of APEJ Market Size and Forecast (US$ Bn), 2024-2031
- 9.5. Revenue (US$ Bn) Comparison, By Protection Provider
- 9.6. Revenue (US$ Bn) Comparison, By Pricing Model
- 9.7. Revenue (US$ Bn) Comparison, By Sales Channel
10. MEA Mobile Handset Protection Market Size and Forecast, 2024-2031
- 10.1. MEA Outlook
- 10.2. MEA Parent Market Outlook
- 10.3. MEA Target Market Outlook
- 10.4. Revenue (US$ Bn) Comparison, By Country
- 10.4.1. GCC Countries Market Size and Forecast (US$ Bn), 2024-2031
- 10.4.2. South Africa Market Size and Forecast (US$ Bn), 2024-2031
- 10.4.3. North Africa Market Size and Forecast (US$ Bn), 2024-2031
- 10.4.4. Rest of MEA Market Size and Forecast (US$ Bn), 2024-2031
- 10.5. Revenue (US$ Bn) Comparison, By Protection Provider
- 10.6. Revenue (US$ Bn) Comparison, By Pricing Model
- 10.7. Revenue (US$ Bn) Comparison, By Sales Channel
11. Global Mobile Handset Protection Market Company Share, Competition Landscape and Company Profiles
- 11.1. Company Share Analysis
- 11.2. Competition Landscape
- 11.3. Company Profiles
- 11.3.1. American International Group, Inc.
- 11.3.2. Apple Inc.
- 11.3.3. Asurion LLC
- 11.3.4. AT&T Mobility
- 11.3.5. Best Buy Inc.
- 11.3.6. Verizon Wireless
- 11.3.7. Liberty Mutual Holding Company Inc
- 11.3.8. Sprint Corp.
- 11.3.9. Squaretrade,Inc.
- 11.3.10. T-Mobile, Inc.
12. Research Methodology
13. Secondary and Primary Sources
14. Assumptions and Acronyms
15. Disclaimer
