PUNE, INDIA, September 19, 2019 /EINPresswire.com/ --

WiseGuyReports.Com Publish a New Market Research Report On –“ Mobile Phone Insurance Revenue Market Size, Investment Feasibility and Industry Growth Rate Forecast 2019 – 2030”.

Mobile Phone Insurance Revenue Industry 2019

Description:-

The increasing cost of household goods, vehicles, and consumer electronics forced the buyer to opt for insurance. Smartphones are no exception as it becomes an integral part of human life. A visionary like Elon Musk also revealed that a smartphone is becoming a physical extension of the human body.

Most insurance specialists, device OEMs, retailers, wireless carriers, and banks are offering various insurance plans to counter unfortunate incidents like theft, robbery, loss, damage, and malfunction.
These days, insurances are integrating with technical support and extra protection like data backup facility and online security backup.

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As the number of smartphones is increasing, and so does their price, customers prefer to have insurance in their hand to face any unfortunate accidents.

According to a study, the global Mobile Phone Insurance market reach past XYZ Billion USD by 2016.
The industry is expected to grow at a compound annual growth rate of XYZ% over the next XYZ years. As a result, the market share will reach a whooping XYZ billion USD by the end of XYZ.

Market segmentation for Mobile Phone Insurance

The market for Mobile Phone Insurance Revenue has segmented by product, sales channel, and by region.
The market segment by product includes Physical Damage, Virus Protection, Electronic Damage, and Theft Protection.
The market segment by sales channel covers the direct channel and distribution channel.

According to a report, the physical damage contributes to the largest chunk, accounting about XYZ% of the market share. So consumers prefer to have physical damage insurance to cover the repair cost or replacement value.
Protection against Electric damage is showing the fastest growth rate in this segment. The compound annual growth rate is expected to touch XYZ% during 2016-2030. The insurance covers wear and tear, gradual deterioration of component with time, protection against electric part, and components.

Geographical Market Segmentation for Mobile Phone Insurance

The geographical market segmentation of global Mobile Phone Insurance Revenue.
Includes Indo-Pacific, Latin & Central America, Eastern Europe, Middle East & African region, North America and Western Europe.

Indo-Pacific region is expected to show a good growth rate in terms of Mobile Phone Insurance Revenue as countries like China and India are becoming a hub for smartphone manufacturing. As the number of smartphone increases, more people will prefer to have insurance.

North American region is leading the chart due to the high smartphone to population ratio and technological advancement.

Industry Key players

The global leaders in terms of Mobile Phone Insurance Revenue are Vodafone Group, Allianz SE Group, AT&T Mobility, Apple, Assurant, Telstra, American International Group, Microsoft, Mobi PCS, Supercover Insurance, Swisscom, Telefónica Insurance, Verizon Wireless, Markerstudy, Asurion, EE, Aon and MTN.

Latest news from the industry

India is a huge market for a smartphone. According to a report, India has 860 million smartphones.

Due to digitalization, insurance companies are providing the required information and help through online platforms. Insurance companies are offering new-age technology so that it is becoming easier for a common Indian to claim his insurance. People are getting the result in three days, whereas they used to wait for seven days for the same work.
Once the efficiency improves, more people will prefer to have insurance for their smartphone.

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