PUNE, India, Nov. 26, 2019 /PRNewswire/ — Given the increasing prevalence of expensive household goods, cars and consumer electronics, insurance has become an unavoidable and often necessary cost in modern life. Mobile phones, and smartphones in particular are no exception to this trend.
Most major mobile operators, insurance specialists, device OEMs, retailers and even banks now offer insurance plans that cover theft, loss, malfunctions and damage of mobile phones. Many policies now also integrate enhanced technical support and additional protection features such as data backup facilities, allowing users to securely backup their phone data online.
Research estimates that the global Mobile Phone Insurance Market is expected to account for $20.5 Billion in revenue by the end of 2017. The market is further expected to grow at a CAGR of approximately 10% over the next three years, eventually accounting for more than $27 Billion in revenue by the end of 2020.
The “Mobile Phone Insurance Ecosystem: 2017 – 2030 – Opportunities, Challenges, Strategies & Forecasts” report presents an in-depth assessment of the mobile phone insurance ecosystem including market drivers, challenges, opportunities, value chain, future roadmap, case studies, ecosystem player profiles and strategies. The report also presents market size forecasts from 2017 through to 2030. The forecasts are segmented for 3 sales channels, 5 regions and 25 countries.
The report comes with an associated Excel datasheet suite covering quantitative data from all numeric forecasts presented in the report.
The report covers the following topics:
- Mobile phone insurance ecosystem
- Market drivers and barriers
- Insurance policy structure, distribution channels and key trends
- Case studies of mobile phone insurance initiatives
- Industry roadmap and value chain
- Profiles and strategies of over 80 leading ecosystem players
- Strategic recommendations for ecosystem players
- Market analysis and forecasts from 2017 till 2030
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Market forecasts are provided for each of the following submarkets and their categories:
Sales Channel Segmentation
- Mobile Operators
- Device OEMs
- Retailers & Others
- Asia Pacific
- Latin & Central America
- Middle East & Africa
- North America
Country Level Segmentation
Argentina, Australia, Brazil, Canada, China, Colombia, France, Germany, Hong Kong, India, Israel, Italy, Japan, Mexico, Netherlands, Poland, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Taiwan, UK & USA
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Key Questions Answered
The report provides answers to the following key questions:
- How big is the mobile phone insurance opportunity?
- What trends, challenges and barriers are influencing its growth?
- How is the ecosystem evolving by region?
- What will the market size be in 2020 and at what rate will it grow?
- Which countries will see the highest percentage of growth?
- Who are the key market players and what are their strategies?
- What risks are typically covered in mobile phone insurance offerings?
- How can insurance plans help mobile operators in reducing churn?
- What strategies should mobile operators, device OEMs and insurance providers adopt to remain competitive?
The report has the following key findings:
- Research estimates that the global mobile phone insurance market is expected to account for $20.5 Billion in revenue by the end of 2017. The market is further expected to grow at a CAGR of approximately 10% over the next three years, eventually accounting for more than $27 Billion in revenue by the end of 2020.
- In an effort to boost the uptake of their mobile phone insurance plans, mobile operators and insurance providers have extensively enhanced their offerings with a number of differentiating features such as multi-device coverage, integrated device security apps, prioritized technical support, door-to-door repair services and secure data storage for photos and videos.
- To accelerate the adoption of mobile phone insurance in developing markets, mobile operators are experimenting with an array of strategies ranging from complimentary insurance schemes to bundling insurance with inexpensively priced mobile security offerings.
- Many smartphone OEMs – including Apple, Samsung, HTC, Acer, Motorola Mobility and Xiaomi – already offer their own branded protection plans across multiple countries, and others are expected to follow suit. By the end of 2020, OEM branded plans will account for a market worth nearly $4.5 Billion.
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List of Companies Mentioned
- A Wireless
- AIG (American International Group)
- Allianz Insurance
- Allianz SE Group
- Allstate Corporation
- América Móvil
- AmTrust Financial Services
- AmTrust International Underwriters
- AmTrust Mobile Solutions
- Appalachian Wireless
- ASUS (ASUSTeK Computer)
- Avast Software
- AVG Technologies
- BBVA Seguros
- Best Buy
- BNP Paribas
- BNP Paribas Cardif
- Bouygues Telecom
- Brightstar Corporation
- BT Group
- CGU Insurance
- CNA Financial Corporation
- Conecta Serviços
- CWS (Connected World Services)
- Diamond Wireless
- Dixons Carphone
- DT (Deutsche Telekom)
- Endsleigh Insurance Services
- Fortegra Financial Corporation
- Freedom Mobile
- Geek Squad
- Groupama Banque
- Grupo MOK (MultiServicios OK)
- HL Assurance
- Hollard Group
- Hong Leong Group
- HTC Corporation
- IAG (Insurance Australia Group)
- IC Frith
- Ingram Micro
- Inhance Technology
- Itaú Unibanco
- Kaspersky Lab
- KB Financial Group
- KB Insurance
- Liberty Mutual Insurance Group
- Lifestyle Services Group
- Microsoft Corporation
- Mobi PCS
- Mobile Rhino (Stuckey & Company)
- Motorola Mobility
- MPI Generali
- Munich Re
- NIA (New India Assurance)
- Nippon Life Insurance
- NQ Mobile
- NTT DoCoMo
- Pacífico Seguros
- Pier Insurance Managed Services
- Risk Insure
- Salt Mobile
- Samsung Electronics
- SoftBank Corporation
- Sony Mobile Communications
- Spark New Zealand
- Sprint Corporation
- Sun Corporation
- Supercover Insurance
- Symantec Corporation
- Telefónica Group
- Telefónica Insurance
- The Warranty Group
- Three Ireland (Hutchison)
- T-Mobile USA
- Tokio Marine
- Trend Micro
- Verizon Communications
- V-Key Solutions
- Vodafone Group
- Worth Avenue Group
- Zurich Insurance Group
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