Mobile Phone Insurance Market Value to Go Beyond USD 27 Bn by 2020, States SNS Telecom in Its Report Available at MarketPublishers.com03 Oct 2017 • by Natalie Aster
LONDON – In view of surging rates of prevalence of high-priced household goods, cars and consumer electronics, insurance has evolved into an inevitable and frequently necessary cost in contemporary life. Mobile phones, and particularly smartphones, are no different to this trend.
The majority of leading MNOs, insurance firms, device OEMs, retailers and even banks currently offer insurance schemes that cover mobile phone theft, loss, damage, and malfunctions. Many policies currently also incorporate advanced technical support and supplemental protection features like data backup facilities, enabling users to safely backup their mobile phone data online.
The revenue of the global mobile phone insurance sector is poised to reach USD 20.5 billion by 2017-end. Going forward, the market is projected to record close to a 10% CAGR during the next 3 years, ultimately surpassing the USD 27 billion mark in terms of revenue by 2020.
New comprehensive research study “The Mobile Phone Insurance Ecosystem: 2017 – 2030 – Opportunities, Challenges, Strategies & Forecasts” drawn up by SNS Telecom presents an all-round, extensive examination of the mobile phone insurance ecosystem on a global level.
The report explores the role of insurance in our everyday lives, reviews the risks that are typically covered, and discusses distribution and sales channels for insurance plans. It identifies the major market drivers and restraints, challenges, and opportunities. The research report gives an assessment of the value chain, and provides the future roadmap; includes a discussion of the case studies. The study canvasses the ecosystem competitive scenario and includes company profiles of the leading players alongside their strategies. Furthermore, the report also presents a global outlook for the mobile phone insurance sector, providing market size forecast figures for 2017-2030, broken down for 3 sales channels, 5 regions and 25 nations.
More new studies by the publisher can be found at SNS Telecom page.