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The Europe mobile phone insurance market is currently witnessing strong growth. Mobile phone insurance renders financial coverage to a smartphone user against unexpected damages. It generally covers loss, theft, accidental damage, malicious damage, water damage, accessories damage, cracked screens and mechanical breakdown. At present, various insurance companies operating in Europe are offering multi-device coverage that insures mobile phones of the whole family under a single policy.
The growing incidents of thefts, accidental damage, malfunction and virus infection in smartphones, along with the increasing focus of users to safeguard their mobile phones, represents one of the key factors impelling the market growth in Europe. Apart from this, key players are adopting business intelligence (BI) tools to monitor consumer buying behaviors and gain insights on the latest trends. They are also collaborating with telecommunication operators to offer innovative insurance schemes during the mobile phone purchase. Additionally, several companies are utilizing the direct-to-consumer assistance model to provide improved consumer service. Besides this, due to the spread of the coronavirus disease (COVID-19) and increasing adoption of digital solutions, online insurance portals are gaining traction as they save time and provide 24x7 services, which is anticipated to fuel the market growth. 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 Europe 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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