The rising number of the mobile
subscribers and the growth in the number of the customers purchasing the
expensive mobile phones has led to the growth in the mobile insurance market.
The mobile insurance refers to the protection from various risks including
the risks from theft, malfunction and damage. Further, with the rising
penetration of internet the customers are also purchasing the mobile phones
through the internet. As a result, various companies such as Amazon US and
Google have started providing mobile insurance along with the purchase of the
mobile, especially the smartphones. The growth is driven by the increasing
reliance on the smartphones and tablets for the business use. Further, the
growth is driven by the feeling of security among the customers that is the
accidental damage will be compensated if they have opted for the insurance
policy. Another driving force behind the growth of the mobile insurance market
is the flexibility allowed to the customers while opting for the plan.
Market Size and Forecast
However, with the growth of the Europe
mobile market, there are some challenges too. The new entrants in the
market will shake the other players prevailing in the market. Further, there
might be cut in the costs as the existing players will try to retain themselves
in the competitive landscape and try to block the entry of the new entrants. The market was valued at $30.5 million
in revenue 2016 and is expected to reach $48.2 million by 2020 with CAGR Of
12.5%. The growth of the market will be fueled by the major players
operating in the competitive environment that will provide a range of
innovative payments, loyalty and services such as the digital wallets.
Likewise, the top players operating in the market will try to provide
engagement services to the customers by creating opportunities through
employment of the different smartphone brands. Moreover, sense of being
protected from the various risks will increase the market size of the global
insurance market. Also the internet penetration through the use of the mobile
wallets will help to bridge the gap between retail environment and e-commerce
market. As a result, the different vendors will be attracted to the market
leading to growth of the insurance market.
Market Segmentation
Our in depth analysis of the Europe
mobile insurance market include the following segment:
By Risk Covered:
·
Accidental Damage
·
Theft
·
Liquid Damage
·
Breakdown
·
Unauthorized Usage
·
Accidental Loss
·
Cracked Screen
·
Worldwide Cover
·
Drops
·
Mobile Wallet
By Region
·
Germany
·
Italy
·
France
·
United Kingdom
·
Switzerland
·
Poland
·
Netherlands
·
Ukraine
·
Rest of Europe
Growth Drivers and Challenges
Moreover, the increase in the mobile
insurance market will be driven by the innovative coverage policies and
schemes. The various value added services provided at the retail stores such as
discount provided by the retailers will be offered to the customers as a
combination along with providing the mobile insurance. This will led the push
in the global mobile insurance market with a positive impact on the Europe
mobile insurance market. Further, the mobile insurance market will expand
as the OEMs will collaborate with the local insurance markets to cater to the
new needs of the market, thus positively creating an impact on the European
mobile insurance market. As a result both Eastern and the Western Europe will
emerge as the new markets for safeguarding their mobiles from the risks.
Key Players
·
Insurance2go
o
Company Overview
o
Key Product Offerings
o
Business Strategy
o
SWOT Analysis
o
Financials
·
Better Buy Insurance
·
Tinhat
·
Row
·
Love it Cover it
·
Protect your Bubble
·
Gadget Cover
·
Switched on Insurance
·
O2 Mobile Insurance
·
Swisscom
·
Salt
·
Sunrise
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The Europe mobile insurance market
is segmented as follows:
·
By Risk covered & Y-O-Y Growth
Analysis
·
By Region Market Size & Y-O-Y
Growth Analysis
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT
Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and
Challenges
Key Information for Players to
establish themselves in current dynamic environment
To know more about this research, kindly
visit: http://www.researchnester.com/reports/europe-mobile-insurance-market-global-demand-analysis-opportunity-outlook-2023-/258
For Table of Content & Free Sample Report Contact:
Ajay Daniel
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