Asia Pacific Mobile Phone Insurance Market 2019-2026 by Coverage, Phone Type, Distribution Channel, End-user, and Country: Trend Forecast and Growth Opportunity

Asia Pacific mobile phone insurance market will exhibit a strong growth during 2019-2026 with a CAGR of 13.75% and a total addressable market cap of $66.97 billion. This is due to the rapid urbanization and inflating disposable incomes which 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. Mobile phone insurance providers are concentrating on cooperating with telecommunication operators to upsurge their regional presence. The mobile phone insurance market comprises of some well-established players around the globe along with small firms ‘contribution single coverage type as well. However, the high price of mobile phone insurance and uncertain terms and conditions are main factors anticipated to hinder the development of the mobile phone insurance ecosystem market worldwide to a certain level. This 106-page report “Asia Pacific Mobile Phone Insurance Market 2019-2026 by Coverage, Phone Type, Distribution Channel, End-user, and Country: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire Asia Pacific mobile phone insurance market and all its sub-segments through extensively detailed classifications. This report Furthermore, highlights some other factors like snowballing incidents of accidental damage, phone thefts, virus infection, and device malfunction are probable to propel market progress over the prediction period. These events have provoked clients to aspect for ways to defence their mobile phones and thus, accept mobile phone insurance policies. The swelling adoption of Business Intelligence (BI) tools by mobile phone insurance companies are expected to propel the market development over the forecast period. BI tools aid mobile phone insurance corporations recognize negative inclinations in the prices and presentation of their products. Hence, it is expected that the market of Asia Pacific Mobile Phone Insurance will boost up throughout the forecast amount. 

COVID-19 impact analysis

The coronavirus pandemic has a significant impact on the mobile phone insurance market as several countries have imposed travel ban; policyholders are filing claims, demanding further extension of mobile phone coverage; and there are changes in terms of policies in the market. This has led insurers to freeze sales of new coverages for mobile phone insurance in the market. Although the COVID-19 outbreak negatively impacts the growth of the market, the industry is expected to recover by the third quarter of 2023. This is attributed to increase in government support & initiatives toward the insurance industry and increase in purchasing power of customers to buy mobile phone insurance.

The report provides historical data for 2016-2019 with 2019 as the base year, estimates for 2020, and forecasts for 2020-2026. (Please Note: The report will be updated before delivery to make sure that the latest historical year is the base year and the forecast covers at least 5 years over the base year.). In-depth qualitative analyses include identification and investigation of the following aspects.

In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces
The trend and outlook of Asia Pacific market is forecast in optimistic, balanced, and conservative view. The balanced (most likely) projection is used to quantify Asia Pacific mobile phone insurance market in every aspect of the classification from perspectives of Coverage, Phone Type, Distribution Channel, End-user, and Country.

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Manmayi Raval

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By coverage
• Electronic Damage
• Theft Protection
• Virus & Data Protection
• Other Coverage

By phone type
• High-end Phones
• Mid-grade Phones
• Low-end Phones

By distribution channel

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Mobile Providers
• Phone OEMs
• Retail Stores
• Online
• Other Channels

By end-user
• Personal
• Enterprise

By Geography
• Japan
• China
• South Korea
• Australia
• India
• Rest of APAC (further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)

For each of the aforementioned countries, market analysis and revenue data are available for 2016-2026. The breakdown of major national markets by Coverage, Phone Type, and Distribution Channel over the study years (2016-2026) is included.
The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Specifically, potential risks associated with investing in Asia Pacific mobile phone insurance market are assayed quantitatively and qualitatively through GMD’s Risk Assessment System. According to the risk analysis and evaluation, Critical Success Factors (CSFs) are generated as a guidance to help investors & stockholders identify emerging opportunities, manage and minimize the risks, develop appropriate business models, and make wise strategies and decisions.

Key Players: AIG, Allianz Insurance, Apple Inc, Assurant, Inc., Asurion, LLC, At&T Inc., Aviva, Better Buy Insurance, Blackberry Limited, Brightstar Corp, Gadget, Cover,Insurance2go, Liberty Mutual Insurance Group, O2 Mobile Insurance, Pier Insurance Managed Services, ProtectCELL, Protect your Bubble, Salt, Sunrise, Swisscom, Switched on Insurance, Tinhat, Trov, Inc.

(Please Note: The report will be updated before delivery to make sure that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)