About Mobile Phone Insurance
Mobile phone insurance is a specialist insurance policy that covers the cost of replacing or repairing user’s phone if it is lost, damaged or stolen. It is helpful for an expensive smartphones or user have a history of lost, stolen or broken phones. The concept of mobile insurance is recent and people are very less aware about its benefits. The companies offer separate cover for each mobile phone user need to protect. They can offer insurance that covers whole family’s phones under one policy.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Mobile Phone Insurance market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
American International Group, Inc. (United States), Apple Inc. (United States), Axa S.A. (France), Asurion, LLC (United States), Assurant, Inc. (United States), Hollard Group (South Korea), Chubb Limited (United States), Allianz SE (Germany), AmTrust Financial Services, Inc. (United States) and Aviva plc (United Kingdom) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Mobile Phone Insurance market by , Application (Corporate Users and Personal Users) and Region.
On the basis of geography, the market of Mobile Phone Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Cover, the sub-segment i.e. Physical Damage will boost the Mobile Phone Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Phone, the sub-segment i.e. New Phone will boost the Mobile Phone Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Channel, the sub-segment i.e. Mobile Operator will boost the Mobile Phone Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Consumer Preference for Buying High Featured Smart Phones in High Prices
Market Growth Drivers:
Rise in the Incidents of Phone Thefts, Accidental Damage and Device Malfunction, Increased Awareness among the People about Mobile Phone Insurance Benefits, Increased Disposable Income of the People and Rise in the Number of Mobile Users
Challenges:
Critical Claiming Procedure of the Insurance Companies
Restraints:
Less Awareness in Some Regions about Mobile Phone Insurance
Opportunities:
Growing Insurance Industry Worldwide and Growing Online Customers for Mobile Phone Insurance
Key Target Audience
Mobile Phone Insurance Manufacturers, Research Professionals, Emerging Companies, Government Body & Associations and End user
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.