Mobile Phone Insurance Market Report 2022: Simplifying T&Cs Offers Opportunities – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Mobile Phone Insurance Market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Coverage, Sales Channel, Phone Type and End User” report has been added to from ResearchAndMarkets.com offer.
Mobile phone insurance market is expected to grow from US$27,291.83 million in 2021 to US$53,161.84 million by 2028; it is estimated to grow at a CAGR of 10.4% from 2021 to 2028.
The US and European markets occupy a large part of the mobile phone insurance market with huge smartphone penetration, developing countries are still in an emerging stage. However, the trend of smartphone penetration may vary from region to region depending on customer desire and mobile phone penetration.
The GSM Arena estimated the growth of the mobile phone market for used and refurbished phones at a rate of 15% from 2020 to 2021. Such scenarios are likely to bring new prospects to the mobile insurance market. from this segment of mobile phones.
The rise of data and virus protection is propelling the growth of mobile phone insurance market as mobile users seek these coverage plans among physical insurance plans. This opens up new growth opportunities for bundled protection plans, providing comprehensive protection for mobile phones in the mobile phone insurance market.
The business of mobile phone insurance service providers has become very volatile due to the increase in the volume of trade in mobile devices. Participants in the mobile phone insurance market landscape manage or own various aspects of the value chain, which enables them to design insurance products and services to meet specific end-user demands.
Terms and conditions in the mobile insurance market are often critical, causing customers to forget about claims procedures. A few vendors offer a set coverage plan with a fixed premium amount regardless of smartphone type. On the contrary, other sellers have different premiums/amounts to pay for different coverages that customers need.
Sometimes the coverage and premium/amount differs between devices, i.e. iOS or Android phones, which increases customers’ uncertainty about purchasing mobile phone insurance. Therefore, insurers are focusing on simplifying their terms and conditions and covering as many insurance policies as possible under one premium amount.
These initiatives by insurance sellers or insurers should help customers clearly understand terms and conditions and claims procedures in the near future. The growing focus on simplifying claims procedures is expected to boost the adoption of mobile phone insurance plans among customers in both developed and developing countries in the coming years.
Main topics covered:
2. Main Takeaways
3. Research methodology
4. Mobile phone insurance market landscape
4.1 Market Overview
4.2 PEST analysis
5. Mobile Phone Insurance Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increased Adoption of High Quality Smartphones
5.1.2 Increased cases of accidental damage, phone theft and gadget failure
5.2 Market Constraints
5.2.1 Increase in instances of fraudulent policies and claims
5.3 Market Opportunities
5.3.1 Network operators to create a lucrative market in Europe
5.4 Future trends
5.4.1 Simplification of the insurance claims procedure
5.5 Impact analysis of drivers and constraints
6. Mobile Phone Insurance Market – Global Market Analysis
6.1 Global Mobile Phone Insurance Market Overview
6.2 Mobile Phone Insurance Market Forecast and Analysis
6.3 Market Positioning – Top Five Players
7. Mobile Phone Insurance Market Analysis – By Coverage
7.2 Mobile Phone Insurance Market, By Coverage (2021 & 2028)
7.3 Physical damage
7.4 Electronic damage
7.5 Virus Protection
7.6 Protection against theft
8. Mobile Phone Insurance Market – By Sales Channel
8.2 Mobile Phone Insurance Market, By Sales Channel (2021 & 2028)
8.3 Mobile operators
8.4 Device OEMs
9. Mobile Phone Insurance Market – By Phone Type
9.2 Mobile Phone Insurance Market, By Phone Type (2021 & 2028)
9.3 New Phone
9.3.2 New Phone: Mobile Phone Insurance Market – Revenue and Forecast to 2028 (USD Million)
9.4.2 Refurbished: Mobile Phone Insurance Market – Revenue and Forecast to 2028 (USD Million)
10. Mobile Phone Insurance Market – By End User
10.2 Mobile Phone Insurance Market, By End User (2021 & 2028)
10.3.2 Business: Mobile Phone Insurance Market – Revenue and Forecast to 2028 (USD Million)
10.4.2 Personal: Mobile Phone Insurance Market – Revenue and Forecast to 2028 (USD Million)
11. Mobile Phone Insurance Market – Geographical Analysis
12. Mobile Phone Insurance Market – Impact Analysis of COVID-19
13. Mobile Phone Insurance Market – Industry Landscape
13.2 Market initiative
American International Group, Inc.
Aviva Insurance Limited
Better buy insurance
Pier Insurance Managed Services Ltd.
AQILO Business Consulting Gmb
For more information on this report, visit https://www.researchandmarkets.com/r/1qpkiy