Mobile Phone Insurance Market Worth $27 Billion by 2020Research 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.
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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.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.
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The report comes with an associated Excel datasheet suite covering quantitative data from all numeric forecasts presented in the report.Topics Covered
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 2030Forecast Segmentation
Market forecasts are provided for each of the following submarkets and their categories: Sales Channel Segmentation
- Mobile Operators
- Device OEMs
- Retailers & OthersRegional Segmentation
- Asia Pacific
- Latin & Central America
- Middle East & Africa
- North AmericaCountry 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?Key Findings 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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