The Mobile Phone Insurance Global Market Report 2023, provides comprehensive information on the mobile phone insurance market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global mobile phone insurance market size is expected to grow from $27.89 billion in 2022 to $31.45 billion in 2023 at a compound annual growth rate (CAGR) of 12.98%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global mobile phone insurance market size is expected to reach $49.08 billion in 2027 at a CAGR of 12.30%.
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Product innovation is the key trend gaining popularity in the mobile phone insurance market. Major companies operating in the mobile phone insurance market are focusing on developing new products. For instance, in July 2020, SK Telecom Co., Ltd., a Korea-based mobile operator, launched the Initial Mobile Phone Insurance Compensation Service. A unique feature of the Initial Mobile Phone Insurance Compensation Service is its blockchain-based mobile phone insurance claims service, which handles reimbursements without requiring traditional documents. The service center operators use a blockchain application created by SK Telecom to issue repair statements and receipts as electronic certificates. To expedite claims, this digital document is delivered right to the insurance provider for inspection.
The mobile phone insurance market is segmented:
1) By Phone Type: Budget Phones, Mid And High-End Phones, Premium Smartphones
2) By Coverage: Physical Damage, Internal Component Failure, Theft And Loss Protection, Virus And Data Protection, Other Coverages
3) By Distribution Channel: Mobile Operators, Device OMEs (Original Equipment Manufacturer), Retailers, Online, Other Distribution Channels
4) By End-User: Corporate, Personal
North America was the largest region in the mobile phone insurance market in 2022.
The table of contents in TBRC’s mobile phone insurance market report includes:
1. Executive Summary
2. Mobile Phone Insurance Market Characteristics
3. Mobile Phone Insurance Market Trends And Strategies
4. Mobile Phone Insurance Market – Macro Economic Scenario
5. Mobile Phone Insurance Market Size And Growth
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26. Africa Mobile Phone Insurance Market
27. Mobile Phone Insurance Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Mobile Phone Insurance Market
29. Mobile Phone Insurance Market Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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