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.
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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 has the following key findings:
– SNS 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.
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
List of Companies Mentioned:
The following companies and organizations have been reviewed, discussed or mentioned in the report:
– 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)
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