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The Asia Pacific mobile phone insurance market is currently witnessing strong growth. Mobile phone insurance provides financial protection to an insured cell phone user for expenses or losses incurred due to unexpected events such as damage, fire, theft and accidents. It also helps users to evade expensive replacement costs of mobile devices or their different components. Presently, with the increasing sales of smartphones and the rising instances of theft, the demand for mobile phone insurance is escalating in the Asia Pacific region.
Rapid urbanization and inflating disposable incomes are positively influencing the sales of premium smartphones. This represents one of the key factors impelling the market growth in the Asia Pacific region. Apart from this, the emergence of multichannel interaction, direct-to-consumer insurance assistance and online transaction platforms are driving the market growth. Moreover, leading companies in the region are utilizing data analytics to expand their consumer base. They are also collaborating with mobile phone manufacturers to offer different coverage policies to users. This, along with the introduction of recovery features, data protection and extensive technical support, is anticipated to strengthen the market growth in the coming years. On account of these factors, the market is expected to continue its strong growth during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the Asia Pacific mobile phone insurance market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, phone type, coverage, distribution channel and end user.
Breakup by Phone Type:
Breakup by Coverage:
Breakup by Distribution Channel:
Breakup by End User:
Breakup by Country:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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