According to a market report by Lucintel, the future of the global mobile phone insurance market looks promising with opportunities in the business and individual markets. The global mobile phone insurance market is expected to reach an estimated $48.0 billion by 2030 with a CAGR of 9.7% from 2024 to 2030. The major drivers for this market are upsurge in the adoption of premium-quality smartphones, substantial replacement cost of various mobile phone components, as well as, increasing occurrences of accidental damage, phone thefts, and device malfunctions.

A more than 150 – page report is developed to understand trends, opportunity and forecast in mobile phone insurance market to 2030 by coverage type (physical damage, internal component failure, theft & loss protection, and others), phone type (budget phones, mid & high-end phones, and premium smartphones), end use (business and individuals), and region (North America, Europe, Asia Pacific, and the Rest of the World).
In this market, budget phone, mid & high-end phone, and premium smartphone are the major segments of mobile phone insurance market by phone type. Lucintel forecasts that premium smartphone is expected to witness highest growth over the forecast period due to increasing need to provide enhance security to phones as premium phones are more prone to technical and physical damages.

Within this market, individual will remain the larger segment over the forecast period.

North America will remain the largest segment over the forecast period due to abundance of mobile phone insurance providers in conjunction with the growing instances of crimes involving smartphones in Canada and the United States.

Apple, American International, Assurant, Asurion, AT&T, AmTrust Financial, Brightstar, GoCare Warranty Group, SquareTrade, and Taurus Insurance are the major suppliers in the mobile phone insurance market.

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This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]