The Asia Pacific mobile phone insurance market size reached US$ 6.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.5 Billion by 2028, exhibiting a growth rate (CAGR) of 12% during 2023-2028.
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.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the Asia Pacific mobile phone insurance market report, along with forecasts at the regional and country levels from 2023-2028. Our report has categorized the market based on phone type, coverage, distribution channel and end user.
Breakup by Phone Type:
Breakup by Coverage:
- Physical Damage
- Electronic Damage
- Virus Protection
- Data Protection
- Theft Protection
Breakup by Distribution Channel:
- Mobile Operators
- Device OEMs
Breakup by End User:
Breakup by Country:
- South Korea
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis
Scope of the Report
Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Phone Type
- Distribution Channel
- End User
| Phone Types Covered
||New Phone, Refurbished
||Physical Damage, Electronic Damage, Virus Protection, Data Protection, Theft Protection
| Distribution Channels Covered
||Mobile Operators, Device OEMs, Retailers, Online, Others
|End Users Covered
||China, Japan, India, South Korea, Australia, Indonesia, Others
||Novozymes, DuPont, and Royal DSM
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report:
- How has the Asia Pacific mobile phone insurance market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the Asia Pacific mobile phone insurance market?
- What are the key regional markets?
- What is the breakup of the market based on the phone type?
- What is the breakup of the market based on the coverage?
- What is the breakup of the market based on the distribution channel?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the Asia Pacific mobile phone insurance market and who are the key players?
- What is the degree of competition in the industry?