Smartphones have become a basic necessity in this environment driven by communication and networking. The protection of this basic amenity is henceforth important and the importance of mobile handset protection is surging with several consumers opting for high protection for their expensive devices.
Protection against theft, breakage, mechanical breakdown or any other form of accident is being acknowledged by a large number of individuals and it only becomes imperative to protect their devices which are now an integral part in almost every aspect in one’s life. Persistence Market Research has crafted a new research report titled “Mobile Handset Protection Market: Global Industry Analysis (2012-2016) and Forecast (2017-2026)” and has included in-depth analysis on the various aspects of the global market.
Global Mobile Handset Protection Market: Forecast Analysis
The global mobile handset protection market is anticipated to grow at a higher rate to register a robust CAGR of 12.3% throughout the period of assessment. In 2017, this market reflected a value of about US$ 18.2 Bn and is estimated to touch a market valuation higher than US$ 51 Bn by the end of the year of assessment.
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Global Mobile Handset Protection Market: Factors Influencing Growth
The growth of the global market for mobile handset protection market is influenced by several aspects. Factors like rising adoption of smartphones at a global level, high growth of global insurance market, increasing accidents and incidences with smartphones and cost benefits associated with the purchasing a mobile handset protection policy as against replacing with a new device are driving the growth of the global mobile handset protection market.
Trends such as mobile insurance with mobile buyback solutions and securing personal information in addition to the security of the handset is also boosting the growth of the global market. However, high subscription charges are hindering the growth of the global market.
Global Mobile Handset Protection Market: Segmental Snapshot
The global market for mobile handset protection is segmented on the basis of protection provider, by pricing model, by sales channel and by region.
- By region, Asia Pacific excluding Japan (APEJ) is expected to show increased inclination towards adoption of mobile handset protection. Mobile handset protection market in this region is projected to grow at the highest CAGR of 16.4% during the forecast period. However, North America region is the largest in terms of market share and is likely to lead the global market in the coming years
- By protection provider, direct to consumer services segment is expected to dominate the global market with a high market valuation and is estimated to grow at a noteworthy rate throughout the assessment period
- By pricing model, billed by carrier/ OEM segment is estimated to be the largest with a high growth potential and is projected to register a high CAGR of 13.1% during 2017-2026. This segment is estimated to touch a value higher than US$ 24 Bn by the end of the year of assessment
- By sales channel, retail chains are a much promising channel and a lucrative segment contributing to the growth of the global market. This segment is valued at about US$ 9.1 Bn in 2017. The E-commerce/online segment is projected to expand at the highest CAGR during the forecast period
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- American International Group, Inc.
- Apple Inc.
- Asurion LLC
- AT&T Mobility
- Best Buy Inc.
- Verizon Wireless
- Liberty Mutual Holding Company Inc