Europe Mobile Insurance Market

Europe Mobile Insurance Market Analysis 2018-2028

The mobile insurance is a kind of insurance policy that protects device from any financial loss on account of damage or breakdown of the mobile phone screen. Further, mobile insurance also provides coverage against burglary, fire, accidental damage and mechanical or electrical breakdown. The Europe mobile insurance market is anticipated to achieve a CAGR of 6.16% during the forecast period, i.e. 2020-2028. Factors such as the ongoing trend of mergers and acquisitions between stakeholders and the growing strategic movements adopted by players in the mobile insurance industry, increasing transformation observed in the mobile insurance market to digital-first business models, growing number of incidents of accidental damage, device malfunction and thefts among others, along with the growing customization in the insurance policies, such as better support terms of services that include data protection, recovery features and other extensive technical support are anticipated to promote towards the growth of the Europe mobile insurance market. Additionally, factors such as increasing mobile subscriber base, increasing purchase of expensive mobile phones and the concerns for the number of smartphone crime in the region are anticipated to drive the growth of the Europe mobile insurance market.

The Europe mobile insurance market consists of various segments that are segmented by mobile type, channel and by end user. The market is further sub-divided by end user into personal and corporate. Out of these, the personal segment registered the largest market share in the year 2018 and is further expected to grow by a CAGR of around 6.5% during the forecast period. On the other hand, the segment is further anticipated to gain an incremental $ opportunity of around USD 91 million in the year 2020 as compared to the previous year and further grow by 1.65x throughout the forecast period. The segment is also expected to gain an absolute $ opportunity of around USD 2800 million during the forecast period.

Some of the affluent industry leaders in the Europe mobile insurance market are Asurion Europe Limited, Assurant, Inc., AmTrust Europe Limited, AT&T Inc., Brightstar Corp., Revolut Technologies Inc. and Vodafone Group plc.