Global Mobile Phone Insurance Market is Projected to Reach US$ 37.2 Bn by 2023

Author: QYResearch  |   Published Date: 2018-08-17   |   Views: 231

The leading companies own the advantages on better performance, more abundant product’s types, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of high-end market. Looking to the future years, the slow upward price trend in recent years will maintain. As competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.

The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Market stays in mature period with a clear concentration. Meanwhile, optimize product mix and further develop value-added capabilities to maximize margins.

Global Mobile Phone Insurance Market: Key Takeaways

This report studies the Mobile Phone Insurance market status and outlook of global and major regions, from angles of players, regions, product and end Application/industries; this report analyses the top players in global and major regions, and splits the Mobile Phone Insurance market by product and Application/end industries.

Global Mobile Phone Insurance Market: Forecast by Application

Based on Applications, the market is segmented into Physical Damage, Theft & Loss and Other Insurances. Physical Damage is the major application of Mobile Phone Insurance Ecosystem, in 2017, the Mobile Phone Insurance revenue in Physical Damage was 15,656 million USD, and it is forecast to reach 33,579 million USD in 2025.

Global Mobile Phone Insurance Market: Forecast by Sales Channels

Based on sales channels, in an effort to boost the uptake of mobile phone insurance, wireless carriers and insurance providers have extensively enhanced their insurance offerings with the addition of location tracking, data protection/recovery features and integrated technical support. The success of mobile phone insurance plans has driven several wireless carriers, to invest in the sales of other insurance products through mobile phones and their retail outlets. New insurance models are also beginning to emerge. Device OEMs are beginning to invest in tailored plans to suit the specific requirements of certain regional markets.

Global Mobile Phone Insurance Market: Forecast by Region

Based on regions, North America and Europe are relatively mature market which are navigating the market. In 2018, total North America Mobile Phone Insurance Market Size is estimated to be 10,625 Million USD, growing at a CAGR of 10.43% from 2013 to 2018. Total Europe Mobile Phone Insurance Market Size is estimated to be 6,795 Million USD, growing at a CAGR of 11.72% from 2013 to 2018. APAC is expected to be the fastest growing market, especially for the rapid growing China and India market. In 2018, total APAC Mobile Phone Insurance Market Size is estimated to be 4,111 Million USD, growing at a CAGR of 20.73% from 2013.

Global Mobile Phone Insurance Market: Key Players

The market is very disparate in global view, Major players in this market are Asurion, Apple, Assurant, SoftBank, AIG, Chubb (ACE), AmTrust, Allianz Insurance, AXA and Aviva. Leading Network Operators like Vodafone, T-Mobile, MTN Group, Orange, Etisalat, Verizon Wireless, AT&T Mobility, Ooredoo and many others are also playing very important roles in Mobile Phone Insurance market stage.

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