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Global Mobile Phone Insurance Market Size, Share & Trends Analysis Report by Coverage (Physical Damage, Internal Component Failure, Theft & Loss Protection), by Phone Type, by Region, and Segment Forecasts, 2021-2028

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    Report

  • 100 Pages
  • April 2021
  • Region: Global
  • Grand View Research
  • ID: 5415622
Description Jump to:
The global mobile phone insurance market size is expected to reach USD 59.97 billion by 2028, registering a CAGR of 12.6% from 2021 to 2028. The growth is attributable to the increasing number of smartphone users across the globe. The market growth can also be ascribed to the growing demand for smartphones that are used for entertainment, education, news, and digital transactions.

Additionally, the growing usage of smartphones, as well as mobile applications, is expected to favor market growth. Convenient claim service is also expected to contribute to the overall market growth over the forecast period. Mobile phone insurance helps avoid expensive replacement costs incurred due to the loss or breakdown of mobile phones. Damages such as physical damage and electronic damage, theft protection, and cyber-threat protection are usually covered under a mobile phone insurance policy. This is anticipated to encourage customers to opt for such insurance policies over the forecast period.

Big data analytics is also playing a pivotal role in driving the market growth. The technology helps flag claims for priority handling or proactively monitor risks to reduce financial losses. Therefore, phone insurance providers are anticipated to widely adopt analytics over the coming years. Furthermore, there is an increase in the purchase of mobile phones through online platforms. This is encouraging e-commerce companies to collaborate with insurance providers. For instance, in October 2018, Flipkart ventured into a partnership with Bajaj Allianz to offer customized insurance solutions and boost Bajaj Allianz mobile phone protection program. Moreover, these collaborations enable the partnered companies to increase their customer base across the globe.

Mobile Phone Insurance Market Report Highlights

  • The market is anticipated to witness substantial growth owing to an increasing number of smartphone users and collaborations among manufacturers and insurance providers
  • The physical damage segment accounted for the highest market share in 2020. The users mostly opt for plans that cover repair and replacement costs
  • The premium smartphone segment accounted for a significant market share in 2020 owing to the rapidly increasing cost of smartphones and rise in the number of physical and technical damages
  • The growth of the North America market can be attributed to the presence of a large number of insurance providers and higher smartphone penetration in the U.S.
  • Key players include American International Group, Inc.; ASSURANT, INC; Asurion; AT&T Inc.; AmTrust Financial; Brightstar Corp.; GoCare Warranty Group; and SquareTrade, Inc.


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Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
Chapter 3. Market Variable, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Related/ Ancillary Market Outlook
3.2. Mobile Phone Insurance Market Dynamics
3.2.1. Market Driver Analysis
3.2.2. Market Restraint Analysis
3.2.3. Market Opportunity Analysis
3.3. Penetration & Growth Prospect Mapping
3.4. Mobile Phone Insurance Market Industry Analysis – Value Chain
3.5. Mobile Phone Insurance Market Industry Analysis – Porter’s
3.5.1. Supplier Power
3.5.2. Buyer Power
3.5.3. Substitution Threat
3.5.4. Threat of New Entrants
3.5.5. Competitive Rivalry
3.6. Mobile Phone Insurance Market Industry Analysis - PEST
3.6.1. Political & Legal Landscape
3.6.2. Environmental Landscape
3.6.3. Social Landscape
3.6.4. Product Landscape
Chapter 4. Mobile Phone Insurance Market: Coverage Outlook
4.1. Mobile Phone Insurance Market: Coverage Analysis
4.1.1. Physical Damage
4.1.1.1. Market estimates and forecasts, 2016 - 2028 (USD Billion)
4.1.1.2. Market estimates and forecasts, by region, 2016 - 2028 (USD Billion)
4.1.2. Internal Component Failure
4.1.2.1. Market estimates and forecasts, 2016 - 2028 (USD Billion)
4.1.2.2. Market estimates and forecasts, by region, 2016 - 2028 (USD Billion)
4.1.3. Theft & Loss Protection
4.1.3.1. Market estimates and forecasts, 2016 - 2028 (USD Billion)
4.1.3.2. Market estimates and forecasts, by region, 2016 - 2028 (USD Billion)
4.1.4. Virus & Data Protection
4.1.4.1. Market estimates and forecasts, 2016 - 2028 (USD Billion)
4.1.4.2. Market estimates and forecasts, by region, 2016 - 2028 (USD Billion)
4.1.5. Others
4.1.5.1. Market estimates and forecasts, 2016 - 2028 (USD Billion)
4.1.5.2. Market estimates and forecasts, by region, 2016 - 2028 (USD Billion)
Chapter 5. Mobile Phone Insurance Market: Phone Type Outlook
5.1. Mobile Phone Insurance Market: Phone Type Analysis
5.1.1. Budget Phones
5.1.1.1. Market estimates and forecasts, 2016 - 2028 (USD Billion)
5.1.1.2. Market estimates and forecasts, by region, 2016 - 2028 (USD Billion)
5.1.2. Mid & High-end Phones
5.1.2.1. Market estimates and forecasts, 2016 - 2028 (USD Billion)
5.1.2.2. Market estimates and forecasts, by region, 2016 - 2028 (USD Billion)
5.1.3. Premium Smartphones
5.1.3.1. Market estimates and forecasts, 2016 - 2028 (USD Billion)
5.1.3.2. Market estimates and forecasts, by region, 2016 - 2028 (USD Billion)
Chapter 6. Mobile Phone Insurance Market: Regional Outlook
6.1. Mobile Phone Insurance Market Share By Region, 2020 & 2028
6.2. North America
6.2.1. U.S.
6.2.1.1. Market estimates and forecasts, 2016 - 2028
6.2.1.2. Market estimates and forecasts, by coverage, 2016 - 2028 (USD Billion)
6.2.1.3. Market estimates and forecasts, by phone type, 2016 - 2028 (USD Billion)
6.2.2. Canada
6.2.2.1. Market estimates and forecasts, 2016 - 2028
6.2.2.2. Market estimates and forecasts, by coverage, 2016 - 2028 (USD Billion)
6.2.2.3. Market estimates and forecasts, by phone type, 2016 - 2028 (USD Billion)
6.3. Europe
6.3.1. U.K.
6.3.1.1. Market estimates and forecasts, 2016 - 2028
6.3.1.2. Market estimates and forecasts, by coverage, 2016 - 2028 (USD Billion)
6.3.1.3. Market estimates and forecasts, by phone type, 2016 - 2028 (USD Billion)
6.3.2. Germany
6.3.2.1. Market estimates and forecasts, 2016 - 2028
6.3.2.2. Market estimates and forecasts, by coverage, 2016 - 2028 (USD Billion)
6.3.2.3. Market estimates and forecasts, by phone type, 2016 - 2028 (USD Billion)
6.4. Asia Pacific
6.4.1. China
6.4.1.1. Market estimates and forecasts, 2016 - 2028
6.4.1.2. Market estimates and forecasts, by coverage, 2016 - 2028 (USD Billion)
6.4.1.3. Market estimates and forecasts, by phone type, 2016 - 2028 (USD Billion)
6.4.2. India
6.4.2.1. Market estimates and forecasts, 2016 - 2028
6.4.2.2. Market estimates and forecasts, by coverage, 2016 - 2028 (USD Billion)
6.4.2.3. Market estimates and forecasts, by phone type, 2016 - 2028 (USD Billion)
6.4.3. Japan
6.4.3.1. Market estimates and forecasts, 2016 - 2028
6.4.3.2. Market estimates and forecasts, by coverage, 2016 - 2028 (USD Billion)
6.4.3.3. Market estimates and forecasts, by phone type, 2016 - 2028 (USD Billion)
6.5. Latin America
6.5.1. Market estimates and forecasts, 2016 - 2028
6.5.2. Market estimates and forecasts, by coverage, 2016 - 2028 (USD Billion)
6.5.3. Market estimates and forecasts, by phone type, 2016 - 2028 (USD Billion)
6.6. Middle East & Africa
6.6.1. Market estimates and forecasts, 2016 - 2028
6.6.2. Market estimates and forecasts, by coverage, 2016 - 2028 (USD Billion)
6.6.3. Market estimates and forecasts, by phone type, 2016 - 2028 (USD Billion)
Chapter 7. Competitive Analysis
7.1. Recent Developments & Impact Analysis, by Key Market Participants
7.2. Company/ Competition Categorization (Key Innovators, Market Leaders, Emerging Players)
7.3. Vendor Landscape
7.3.1. Key Company Analysis, 2020
7.4. Company Analysis
7.4.1. Company Market Position Analysis
7.4.2. Competitive Dashboard Analysis
Chapter 8. Competitive Landscape
8.1. Apple Inc.
8.1.1. Company overview
8.1.2. Financial Performance
8.1.3. Product benchmarking
8.1.4. Recent developments
8.2. American International Group, Inc.
8.2.1. Company overview
8.2.2. Financial Performance
8.2.3. Product benchmarking
8.2.4. Recent developments
8.3. ASSURANT, INC
8.3.1. Company overview
8.3.2. Financial Performance
8.3.3. Product benchmarking
8.3.4. Recent developments
8.4. Asurion
8.4.1. Company overview
8.4.2. Financial Performance
8.4.3. Product benchmarking
8.4.4. Recent developments
8.5. AT&T Inc.
8.5.1. Company overview
8.5.2. Financial performance
8.5.3. Product benchmarking
8.5.4. Recent developments
8.6. AmTrust Financial
8.6.1. Company overview
8.6.2. Financial Performance
8.6.3. Product benchmarking
8.6.4. Recent developments
8.7. Brightstar Corp.
8.7.1. Company overview
8.7.2. Financial Performance
8.7.3. Product benchmarking
8.7.4. Recent developments
8.8. GoCare Warranty Group
8.8.1. Company overview
8.8.2. Financial Performance
8.8.3. Product benchmarking
8.8.4. Recent developments
8.9. SquareTrade, Inc.
8.9.1. Company overview
8.9.2. Financial Performance
8.9.3. Product benchmarking
8.9.4. Recent developments
8.10. Taurus Insurance Services Limited
8.10.1. Company overview
8.10.2. Financial Performance
8.10.3. Product benchmarking
8.10.4. Recent development
List of Tables
Table 1 List of abbreviations
Table 2 Mobile phone insurance market, 2016 - 2028 (USD Billion)
Table 3 Mobile phone insurance market, by region, 2016 - 2028 (USD Billion)
Table 4 Mobile phone insurance market, by coverage, 2016 - 2028 (USD Billion)
Table 5 Mobile phone insurance market, by phone type, 2016 - 2028 (USD Billion)
Table 6 Physical damage mobile phone insurance market, 2016 - 2028 (USD Billion)
Table 7 Physical damage mobile phone insurance market, by region, 2016 - 2028 (USD Billion)
Table 8 Internal component failure mobile phone insurance market, 2016 - 2028 (USD Billion)
Table 9 Internal component failure mobile phone insurance market, by region, 2016 - 2028 (USD Billion)
Table 10 Theft & loss protection mobile phone insurance market, 2016 - 2028 (USD Billion)
Table 11 Theft & loss protection mobile phone insurance market, by region, 2016 - 2028 (USD Billion)
Table 12 Virus & data protection mobile phone insurance market, 2016 - 2028 (USD Billion)
Table 13 Virus & data protection mobile phone insurance market, by region, 2016 - 2028 (USD Billion)
Table 14 Others mobile phone insurance market, 2016 - 2028 (USD Billion)
Table 15 Others mobile phone insurance market, by region, 2016 - 2028 (USD Billion)
Table 16 Budget phones mobile phone insurance market, 2016 - 2028 (USD Billion)
Table 17 Budget phones mobile phone insurance market, by region, 2016 - 2028 (USD Billion)
Table 18 Mid & high-end smartphones mobile phone insurance market, 2016 - 2028 (USD Billion)
Table 19 Mid & high-end smartphones mobile phone insurance market, by region, 2016 - 2028 (USD Billion)
Table 20 Premium smartphones mobile phone insurance market, 2016 - 2028 (USD Billion)
Table 21 Premium smartphones mobile phone insurance market, by region, 2016 - 2028 (USD Billion)
Table 22 North America mobile phone insurance market, 2016 - 2028 (USD Billion)
Table 23 North America mobile phone insurance market, by coverage, 2016 - 2028 (USD Billion)
Table 24 North America mobile phone insurance market, by phone type, 2016 - 2028 (USD Billion)
Table 25 U.S. mobile phone insurance market, 2016 - 2028 (USD Billion)
Table 26 U.S. mobile phone insurance market, by coverage, 2016 - 2028 (USD Billion)
Table 27 U.S. mobile phone insurance market, by phone type, 2016 - 2028 (USD Billion)
Table 28 Canada mobile phone insurance market, 2016 - 2028 (USD Billion)
Table 29 Canada mobile phone insurance market, by coverage, 2016 - 2028 (USD Billion)
Table 30 Canada mobile phone insurance market, by phone type, 2016 - 2028 (USD Billion)
Table 31 Europe mobile phone insurance market, 2016 - 2028 (USD Billion)
Table 32 Europe mobile phone insurance market, by coverage, 2016 - 2028 (USD Billion)
Table 33 Europe mobile phone insurance market, by phone type, 2016 - 2028 (USD Billion)
Table 34 U.K. mobile phone insurance market, 2016 - 2028 (USD Billion)
Table 35 U.K. mobile phone insurance market, by coverage, 2016 - 2028 (USD Billion)
Table 36 U.K. mobile phone insurance market, by phone type, 2016 - 2028 (USD Billion)
Table 37 Germany mobile phone insurance market, 2016 - 2028 (USD Billion)
Table 38 Germany mobile phone insurance market, by coverage, 2016 - 2028 (USD Billion)
Table 39 Germany mobile phone insurance market, by phone type, 2016 - 2028 (USD Billion)
Table 40 Asia Pacific mobile phone insurance market, 2016 - 2028 (USD Billion)
Table 41 Asia Pacific mobile phone insurance market, by coverage, 2016 - 2028 (USD Billion)
Table 42 Asia Pacific mobile phone insurance market, by phone type, 2016 - 2028 (USD Billion)
Table 43 China mobile phone insurance market, 2016 - 2028 (USD Billion)
Table 44 China mobile phone insurance market, by coverage, 2016 - 2028 (USD Billion)
Table 45 China mobile phone insurance market, by phone type, 2016 - 2028 (USD Billion)
Table 46 India mobile phone insurance market, 2016 - 2028 (USD Billion)
Table 47 India mobile phone insurance market, by coverage, 2016 - 2028 (USD Billion)
Table 48 India mobile phone insurance market, by phone type, 2016 - 2028 (USD Billion)
Table 49 Japan mobile phone insurance market, 2016 - 2028 (USD Billion)
Table 50 Japan mobile phone insurance market, by coverage, 2016 - 2028 (USD Billion)
Table 51 Japan mobile phone insurance market, by phone type, 2016 - 2028 (USD Billion)
Table 52 Latin America mobile phone insurance market, 2016 - 2028 (USD Billion)
Table 53 Latin America mobile phone insurance market, by coverage, 2016 - 2028 (USD Billion)
Table 54 Latin America mobile phone insurance market, by phone type, 2016 - 2028 (USD Billion)
Table 55 MEA mobile phone insurance market, 2016 - 2028 (USD Billion)
Table 56 MEA mobile phone insurance market, by coverage, 2016 - 2028 (USD Billion)
Table 57 MEA mobile phone insurance market, by phone type, 2016 - 2028 (USD Billion)
List of Figures
FIG. 1 Mobile phone insurance market, 2020 (USD Billion)
Fig. 2 Mobile phone insurance market segmentation
Fig. 3 Mobile phone insurance market, 2016 - 2028 (USD Billion)
Fig. 4 Value chain analysis
Fig. 5 Mobile phone insurance market driver impact
Fig. 6 Mobile phone insurance market challenge impact
Fig. 7 Mobile phone insurance market opportunity impact
Fig. 8 Mobile phone insurance penetration & growth prospects mapping
Fig. 9 Mobile phone insurance market - Porter’s five forces analysis
Fig. 10 Mobile phone insurance market - PEST analysis
Fig. 11 Mobile phone insurance market, by coverage, 2020& 2028 (USD Billion)
Fig. 12 Mobile phone insurance market, by phone type, 2020 & 2028 (USD Billion)
Fig. 13 Mobile phone insurance market, by region, 2020 & 2028

Companies Mentioned

  • Apple Inc.
  • American International Group, Inc.
  • ASSURANT, INC
  • Asurion
  • AT&T Inc.
  • AmTrust Financial
  • Brightstar Corp.
  • GoCare Warranty Group
  • SquareTrade, Inc.
  • Taurus Insurance Services Limited

Methodology

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Table Information

Report AttributeDetails
No. of Pages100
PublishedApril 2021
Forecast Period2021 - 2028
Estimated Market Value ( USD ) in 2021 $ 26.12 Billion
Forecasted Market Value ( USD ) by 2028 $ 59.97 Billion
Compound Annual Growth Rate12.6%
Regions CoveredGlobal
No. of Companies Mentioned10

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