Mobile Phone Insurance Market: Overview The mobile phone insurance market is anticipated to witness steady growth during the forecast period of 2021-2031. The incidents of accidental damage, virus infection, phone theft, malfunctions, etc have increased phenomenally over the years. This factor will bring tremendous growth prospects for the mobile phone insurance market. A smartphone, today, is not a privilege anymore. It has become a necessity. With deep penetration of the internet in everyday life of the global populace and the growing need for smartphones, the demand for mobile phone insurance is estimated to increase. According to Pew Research, 85% of the individuals in the U.S. own a smartphone. The same survey conducted in 2011 found out that only 35% owned a smartphone. The jump in smartphone ownership by nearly 50% shows the expanding influence of the smartphone. Thus, these factors offer considerable growth opportunities for the mobile phone insurance market. Grab an Exclusive PDF Brochure of this Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=83163 Mobile phone insurance is a type of insurance policy that offers coverage for replacement and repair costs of numerous smartphone brands. The insurance is offered by third-party providers at an extra cost over the purchase price of a product. Along with new phones, mobile phone insurance also includes refurbished phones. Mobile phone insurance covers theft and loss protection, virus and data protection, physical damage, internal component failure, etc. On the basis of phone type, the mobile phone insurance market can be segmented into budget phones, mid and high-end phones, and premium smartphones. Smartphones and mobile phones are highly prone to damages, be it technical or physical. This aspect increases the demand for mobile phone insurance to a considerable extent as a policy ensures full reimbursement of the product damage. Thus, these factors prove to be growth generators for the mobile phone insurance market. The research conducted on the global market for mobile phone insurance by Transparency Market Research (TMR) is a treasure of information for the stakeholders and CXOs. All the information has been compiled systematically in a report which provides valuable insights to the stakeholders about the recent trends, competitive landscape, regional aspects, and many other touch points that describe the growth trajectory of the mobile phone insurance market. The COVID-19 impact has also been included in the report. What is the Competitive Landscape of Mobile Phone Insurance Market? The mobile phone insurance market has numerous players in the fray for acquiring a good consumer base. Strategic collaborations play a crucial role in improving the overall growth of the mobile phone insurance market. The players in the mobile phone insurance market collaborate with telecommunication operators for expanding their influence across different regions. Furthermore, collaborations with e-commerce operators also prove to be fruitful as many consumers purchase smartphones from these platforms. Some well-established players in the mobile phone insurance market are AmTrust Financial, American International Group, Inc., Taurus Insurance Services Limited, Brightstar Corp., and Assurant, Inc. What are Key Trends in Mobile Phone Insurance Market?
Mobile Phone Insurance Market Growth, Trends and Forecast, 2021-2031
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