Global Mobile Insurance Market – Lucrative Offers and Bundled Marketing Packages to Drive Market Growth

The report offers an in-depth evaluation of the ecosystem of the mobile phone insurance. The report gives out the market drivers, opportunities, challenges, future roadmap, value chain, prominent players in the global market, case studies, and key strategies. The research report provides a detailed analysis of the market growth and sizing along with the market share and financial impact of the industry. The research study also offer the consumption and production analysis of the global mobile phone insurance market. The study offers an in-depth market insight of the international mobile phone market by volume and value along with the market segmentation. The study report offers comprehensive regional study of various geographical segments of the global market that are vital for its overall development. The growth of the global mobile insurance market has been predicted for the given forecast period by considering the previous market growth patterns, present and future trends.

Insurance has now become an increasingly important and unavoidable cost in our day to day lives as the prevalence of the costly cars, consumer electronics, and goods keep on growing. Smart phones and mobile phones are now no exception to this growing trend. Most of the major mobile service providers, device OEMs, insurance specialists, retailers, and even banks are now offering insurance policies that will secure any theft, malfunction, damage, and loss of mobile phones. Many mobile insurance plans now also embed optimized technical backup and increased support and security features such as backing up of data, permitting consumers to safely backup the data on their phone online.

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The global mobile phone insurance market is expected to reach an overall worth US$20.5 bn in terms of revenue generated by the fall of year 2017. The global market is further projected to grow at a strong CAGR of 10% over the course of the next three years. With such strong CAGR the global market for mobile phone insurance is expected to reach a figure worth US$27 bn by the end of year 2020.

The global market for mobile phone insurance is expected to be chiefly driven by the extensively enhanced and lucrative insurance plans offered by retailers, insurance providers, and mobile operators. These insurance plans providers are expected to improvise their insurance plans with numerous features such as embedded device security apps, multi-device coverage, door to door repair services, safe and secure storage of personalized data such as photos and videos, and prioritized technical support. Such lucrative and attractive offers are expected to lure more and more customers to purchase mobile phone insurance and thus, help in the overall development of the global mobile phone insurance market.

To speed up the uptake of mobile phone insurance facilities in the emerging or developing markets, the mobile operators and insurance providers are trying to experiment with a number of commercial strategies ranging from free insurance plans to bundling schemes with budget friendly mobile security plans and offers. Such marketing strategies are expected to lend a significant hand in the overall growth of the global mobile phone insurance market.

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The global market for mobile phone insurance can be segmented in terms of channels such as device OEMs, retailers, and mobile operators.

In terms of geography, the global mobile insurance market can be segmented into key regions such as Asia Pacific, North America, Latin and Central America, Europe, and the Middle East and Africa.

Some of the key companies in the global mobile insurance market include names such as AT&T, Aviva, AXA, Diamond Wireless, and Garantec among others.

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