Mobile Phone Insurance Market, By Product (Electronic Damage, Physical Damage, Virus Protection, and Theft Protection), By Sales Channel and Geography (North America, Europe, Asia Pacific and Rest of the World) Analysis, Share, Trends, Size, & Forecast From 2014 2025
REPORT HIGHLIGHT
The mobile phone insurance market was valued at USD 12.67 billion by 2017, growing with 13.8% CAGR during the forecast period, 2018-2025.
From being a luxury product, mobiles have become a necessity, aiding customers in almost everything that they do. The phones being rolled out now are equipped to allow users to manage entire professional as well as personal activities. Just like any other valued articles, a mobile too, is at a potential risk of being damaged and stolen. Thus, specialist insurance scheme comes into the picture that covers the cost of repairing or replacing damaged phone. The market for mobile insurance is has evolved rapidly as the number of activities has exploded worldwide, and a couple handfuls of sprinters have emerged, supported by technical service providers. As more players enter this industry, the competition is heating up and thus device operators need to innovate themselves in terms of product offering for better market positioning.
From developed to developing nations, mobile usage is increasing at constant rate. Growing number of device users across the globe is considered to be one of the important driver for industry growth. As per the recent statistics, there are around 7 billion active mobile subscriptions globally which is anticipated to increase by 9 billion by the end of 2020. Moreover, the industry is on the brink of revolution owing to the growing adoption of Insurtech (insurance + technology). In addition to this, growing innovation across the insurance value chain will support the industry growth. On the other side, mobile insurance is still considered to be the new concept in the mobile as well as insurance sphere. The industry is experiencing slowly and steadily uptick as offerings become more robust. It is recommended that insurance companies must be proactive and prepared regarding their mobile insurance strategy.
Products Takeaway
In terms of product types, the market is categorized as Electronic Damage, Physical Damage, Virus Protection and Theft Protection. Physical Damage segment accounted for the highest revenue share. Generally, the coverage under normal insurance includes physical and screen deranges.
Sales Channel Takeaway
In terms of sales channel, the industry is categorized into Device OEMs, Mobile Operators, Retailers and others. It is noted that traditional network i.e. mobile operators is still the leading player when it comes to mobile insurance distribution. Also, the distribution of insurance is reliant on international or local brokers, banks and insurers’ exclusive agents.
Key Vendors Takeaway
Companies operating in this market are; AmTrust International, Allianz, Apple Inc., Asurion, ASSURANT, Brightstar Corporation, Aviva, Geek Squad, GoCare Warranty Group and American International Group. AmTrust offers comprehensive range of services including device repairs, protection, trade-ins, tech support and other convenient and seamless solutions. The company recorded USD 5.45 Billion revenue in 2016 with around USD 7.9 Billion gross written premium during the same year. Until now, most successful insurance companies could be characterized as traditional firms rather than technologists. However, it is observed that to attract new customers, companies are now bundling both insurance and non-insurance products.
The market size and forecast for each segment and sub-segments has been considered as below:
- Historical Year – 2014 & 2016
- Base Year – 2017
- Estimated Year – 2018
- Projected Year – 2025
TARGET AUDIENCE
- Traders, Distributors, and Suppliers
- Manufacturers
- Government and Regional Agencies
- Research Organizations
- Consultants
- Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCTS
- Electronic Damage
- Physical Damage
- Virus Protection
- Theft Protection
MARKET, BY SALES CHANNEL
- Device OEMs
- Mobile Operators
- Retailers
- Others
MARKET, BY REGION
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- Rest of Europe
- Asia Pacific
- India
- China
- Rest of APAC
- Rest of the World
- Middle East and Africa
- Latin America
TABLE OF CONTENT
1. MOBILE PHONE INSURANCE MARKET OVERVIEW
1.1. Study Scope
1.2. Assumption and Methodology
2. EXECUTIVE SUMMARY
2.1. Market Snippet
2.1.1. Market Snippet by Products
2.1.2. Market Snippet by Sales Channel
2.1.3. Market Snippet by Region
2.2. Competitive Insights
3. MOBILE PHONE INSURANCE KEY MARKET TRENDS
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. MOBILE PHONE INSURANCE INDUSTRY STUDY
4.1. Porter’s Five Forces Analysis
4.2. Marketing Strategy Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. MOBILE PHONE INSURANCE MARKET LANDSCAPE
5.1. Market Share Analysis
5.2. Key Innovators
5.3. Breakdown Data, by Key manufacturer
5.3.1. Established Player Analysis
5.3.2. Emerging Player Analysis
6. MOBILE PHONE INSURANCE MARKET – BY PRODUCTS
6.1. Overview
6.1.1. Segment Share Analysis, By Products, 2017 & 2025 (%)
6.2. Electronic Damage
6.2.1. Overview
6.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.3. Physical Damage
6.3.1. Overview
6.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.4. Virus Protection
6.4.1. Overview
6.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.5. Theft Protection
6.5.1. Overview
6.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7. MOBILE PHONE INSURANCE MARKET – BY SALES CHANNEL
7.1. Overview
7.1.1. Segment Share Analysis, By Sales Channel, 2017 & 2025 (%)
7.2. Device OEMs
7.2.1. Overview
7.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.3. Mobile Operators
7.3.1. Overview
7.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.4. Retailers
7.4.1. Overview
7.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.5. Others
7.5.1. Overview
7.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8. MOBILE PHONE INSURANCE MARKET– BY GEOGRAPHY
8.1. Introduction
8.1.1. Segment Share Analysis, By Region, 2017 & 2025 (%)
8.2. North America
8.2.1. Overview
8.2.2. Key Manufacturers in North America
8.2.3. North America Market Size and Forecast, By Country, 2014 – 2025 (US$ Million)
8.2.4. North America Market Size and Forecast, By Products, 2014 – 2025 (US$ Million)
8.2.5. North America Market Size and Forecast, By Sales Channel, 2014 – 2025 (US$ Million)
8.2.6. U.S.
8.2.6.1. Overview
8.2.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.2.7. Canada
8.2.7.1. Overview
8.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.3. Europe
8.3.1. Overview
8.3.2. Key Manufacturers in Europe
8.3.3. Europe Market Size and Forecast, By Country, 2014 – 2025 (US$ Million)
8.3.4. Europe Market Size and Forecast, By Products, 2014 – 2025 (US$ Million)
8.3.5. Europe Market Size and Forecast, By Sales Channel, 2014 – 2025 (US$ Million)
8.3.6. France
8.3.6.1. Overview
8.3.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.3.7. Germany
8.3.7.1. Overview
8.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.3.8. Rest of Europe
8.3.8.1. Overview
8.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.4. Asia Pacific (APAC)
8.4.1. Overview
8.4.2. Key Manufacturers in Asia Pacific
8.4.3. Asia Pacific Market Size and Forecast, By Country, 2014 – 2025 (US$ Million)
8.4.4. Asia Pacific Market Size and Forecast, By Products, 2014 – 2025 (US$ Million)
8.4.5. Asia Pacific Market Size and Forecast, By Sales Channel, 2014 – 2025 (US$ Million)
8.4.6. China
8.4.6.1. Overview
8.4.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.4.7. India
8.4.7.1. Overview
8.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.4.8. Rest of APAC
8.4.8.1. Overview
8.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.5. Rest of the World
8.5.1. Overview
8.5.2. Key Manufacturers in Rest of the World
8.5.3. Rest of the World Market Size and Forecast, By Country, 2014 – 2025 (US$ Million)
8.5.4. Rest of the World Market Size and Forecast, By Products, 2014 – 2025 (US$ Million)
8.5.5. Rest of the World Market Size and Forecast, By Sales Channel, 2014 – 2025 (US$ Million)
8.5.6. Latin America
8.5.6.1. Overview
8.5.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.5.7. Middle East and Africa
8.5.7.1. Overview
8.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9. KEY VENDOR ANALYSIS
9.1. AmTrust International
9.1.1. Company Snapshot
9.1.2. Financial Performance
9.1.3. Product Benchmarking
9.1.4. Strategic Initiatives
9.2. Allianz
9.3. Apple Inc.
9.4. Asurion
9.5. ASSURANT
9.6. Brightstar Corporation
9.7. Aviva
9.8. Geek Squad
9.9. GoCare Warranty Group
9.10. American International Group
10. 360 DEGREE ANALYSTVIEW
11. APPENDIX
11.1. Research Methodology
11.2. References
11.3. Abbreviations
11.4. Disclaimer
11.5. Contact Us
List of Tables
TABLE List of data sources
TABLE Market drivers; Impact Analysis
TABLE Market restraints; Impact Analysis
TABLE Mobile Phone Insurance market: Products snapshot (2018)
TABLE Segment Dashboard; Definition and Scope, by Products
TABLE Global Mobile Phone Insurance market, by Products 2014-2025 (USD Million)
TABLE Mobile Phone Insurance market: Sales Channel snapshot (2018)
TABLE Segment Dashboard; Definition and Scope, by Sales Channel
TABLE Global Mobile Phone Insurance market, by Sales Channel 2014-2025 (USD Million)
TABLE Mobile Phone Insurance market: regional snapshot (2018)
TABLE Segment Dashboard; Definition and Scope, by region
TABLE Global Mobile Phone Insurance market, by region 2014-2025 (USD Million)
TABLE North America Mobile Phone Insurance market, by country, 2014-2025 (USD Million)
TABLE North America Mobile Phone Insurance market, by Products, 2014-2025 (USD Million)
TABLE North America Mobile Phone Insurance market, by Sales Channel, 2014-2025 (USD Million)
TABLE Europe Mobile Phone Insurance market, by country, 2014-2025 (USD Million)
TABLE Europe Mobile Phone Insurance market, by Products, 2014-2025 (USD Million)
TABLE Europe Mobile Phone Insurance market, by Sales Channel, 2014-2025 (USD Million)
TABLE Asia Pacific Mobile Phone Insurance market, by country, 2014-2025 (USD Million)
TABLE Asia Pacific Mobile Phone Insurance market, by Products, 2014-2025 (USD Million)
TABLE Rest of the World Mobile Phone Insurance market, by country, 2014-2025 (USD Million)
TABLE Rest of the World Mobile Phone Insurance market, by Products, 2014-2025 (USD Million)
TABLE Rest of the World Mobile Phone Insurance market, by Sales Channel, 2014-2025 (USD Million)
List of Figures
FIGURE Mobile Phone Insurance market segmentation
FIGURE Market research methodology
FIGURE Value chain analysis
FIGURE Porter’s Five Forces Analysis
FIGURE Market Attractiveness Analysis
FIGURE Competitive Landscape; Key company market share analysis, 2018
FIGURE Products segment market share analysis, 2017 & 2025
FIGURE Products segment market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Electronic Damage market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Physical Damage market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Virus Protection market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Theft Protection market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Sales Channel segment market share analysis, 2017 & 2025
FIGURE Sales Channel segment market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Device OEMs market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Mobile Operators market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Retailers market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Others market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Regional segment market share analysis, 2017 & 2025
FIGURE Regional segment market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE North America Mobile Phone Insurance market share and leading players, 2018
FIGURE Europe Mobile Phone Insurance market share and leading players, 2018
FIGURE Asia Pacific Mobile Phone Insurance market share and leading players, 2018
FIGURE Latin America Mobile Phone Insurance market share and leading players, 2018
FIGURE Middle East and Africa Mobile Phone Insurance market share and leading players, 2018
FIGURE North America market share analysis by country, 2018
FIGURE U.S. market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Canada market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Europe market share analysis by country, 2018
FIGURE U.K. market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Germany market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Rest of the Europe market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Asia Pacific market share analysis by country, 2018
FIGURE India market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE China market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Rest of Asia Pacific market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Rest of the World market share analysis by country, 2018
FIGURE Latin America market size, forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Middle East and Africa market size, forecast and trend analysis, 2014 to 2025 (USD Million)
