Insurance has become an unavoidable and often necessary cost in modern life. This is due to the increasing prevalence of expensive household goods, cars and consumer electronics in the hands of consumers. Mobile phones and smartphones in particular, are no exception to this trend.
According to some reports, most major mobile operators, insurance specialists, retailers and even banks now offer insurance plans that cover theft, loss, malfunctions and damage of mobile phones. Insurance companies now operate policies that integrate enhanced technical support and additional protection features such as data backup facilities, allowing users to securely backup their phone data online.
Estimates show that the global mobile phone insurance market is expected to account for $20.5billion in revenue by the end of 2017. It is also expected to grow at a Compound Annual Growth Rate (CAGR) of approximately 10 per cent over the next three years, eventually accounting for more than $27billion in revenue by the end of 2020.
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 three sales channels, five regions, and 25 countries.