Europe mobile insurance market
is segmented into risk covered such as accidental damage, theft, liquid damage,
breakdown and worldwide cover. Among these segments, accidental damage segment
is expected to occupy the top position in Europe mobile insurance market. Further,
rising incidences of accidental damage of smartphones coupled with high
repairing cost of damaged smartphones is expected to supplement the growth of Europe
accidental damage mobile insurance market. Further, increasing sale of
smartphones is anticipated to strengthen the growth of Europe mobile insurance market
during the forecast period.
Europe
mobile insurance market is expected to flourish at a significant CAGR
of 12.5% over the forecast period. Moreover, Europe mobile insurance market was
held at USD 10.2 Billion in 2016. Factors such as rising disposable income, spiked
sale of smartphones are some of the factors which are expected to drive the
growth of the Europe mobile insurance market.
United Kingdom grabbed the highest
percentage share in overall mobile insurance market in 2016. The growth in the
region can be attributed to increasing disposable income of the population.
Moreover, rising sale of smartphones is expected to positively impact the
demand for mobile insurance market in Europe. Germany market is expected to
expand at a significant CAGR during the forecast period i.e. 2017-2024. Increasing
sale of premium smartphones is expected to be the key factor behind the growth
of mobile insurance market in the Europe region.
Rising
sale of Smartphones
Rising sale of smartphone
across the Europe region is one of the key growth drivers of mobile insurance
market. Further, in Europe, many people are purchasing premium mobile
smartphones. This massive adoption of premium smartphones is anticipated to
expand the market of mobile insurance.
Availability
of Innovative and Customized Mobile Insurance Policies
Most of the major retailers,
wireless carriers, insurance specialists, device and OEMs are now offering
insurance policies that cover loss, malfunctions, damage as well as theft of
mobile phones. Moreover, in order to increase the sale of mobile insurance,
many mobile phone insurance policies now have added safety features such as
backup facilities or data recovery, along with improved technical support,
allowing customers to safely back up their mobile phone data online.
However, lack of awareness and
slow adoption rate in various European countries are some of the factors which are
expected to hamper the growth of the Europe
mobile insurance market.
The report titled “Mobile insurance Market: Europe
Demand Analysis & Opportunity Outlook 2024”
delivers
detailed overview of the Europe Mobile insurance market in terms of market
segmentation by component, by technology, by application and by country.
Further, for the in-depth
analysis, the report encompasses the industry growth drivers, restraints,
supply and demand risk, market attractiveness, BPS analysis and Porter’s five
force model.
This report also provides the
existing competitive scenario of some of the key players of the Europe mobile insurance
market which includes company profiling of Insurance2go, Better Buy Insurance, Tinhat,
Row, Love it Cover it, Protect your Bubble, Gadget Cover, Switched on Insurance
and O2 Mobile Insurance. The profiling enfolds key information of the companies
which encompasses business overview, products and services, key financials and
recent news and developments. On the whole, the report depicts detailed
overview of the Europe Mobile insurance market
that will help industry consultants, equipment manufacturers, existing players
searching for expansion opportunities, new players searching possibilities and
other stakeholders to align their market centric strategies according to the
ongoing and expected trends in the future.
About Research
Nester
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
Read more Information: https://www.researchnester.com/reports/europe-mobile-insurance-market-global-demand-analysis-opportunity-outlook-2023-/258
Contact for more Info:
Ajay
Daniel
U.S.
+1 646 586 9123
U.K.
+44 203 608 5919
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