Europe Mobile Phone Insurance Market Growth, Share, Size, Trends, Challenges and Future Outlook

Europe Mobile Phone Insurance Market Size- By Phone Type, By Coverage, By Distribution Channel, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

Europe Mobile Phone Insurance Market Size- By Phone Type, By Coverage, By Distribution Channel, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

Published: Apr 2023 Report ID: BFSI2316 Pages: 1 - 156 Formats*:     
Category : BFSI
Europe Mobile Phone Insurance Market Overview

According to SPER Market Research, the Europe Mobile Phone Insurance Market is estimated to reach USD XX billion by 2033 with a CAGR XX%.

Mobile phone insurance is a type of insurance policy that protects your mobile phone against accidental damage, loss, theft, and breakdown. With the increasing cost and importance of mobile phones in our daily lives, many people are opting for mobile phone insurance to ensure that they are protected against unexpected events that can cause damage or loss to their phones. Mobile phone insurance policies can cover a wide range of events, such as accidental drops, water damage, screen damage, theft, and even loss. The coverage can vary depending on the policy you choose and can include repair or replacement of your phone, as well as data recovery, temporary phones, and even worldwide coverage.

Exploring the Growth Drivers of the Europe Mobile Phone Insurance Industry

The mobile phone insurance market in Europe is being driven by several factors. Firstly, the high cost of mobile devices is a major driver of the market, as consumers seek to protect their expensive devices from damage, loss, or theft. This is particularly true for flagship smartphones, which can cost hundreds or even thousands of euros. Another driving factor is the increasing dependence on mobile phones for communication, entertainment, and business purposes. With more people relying on their phones for daily activities, the cost of being without a phone for an extended period can be significant. Mobile phone insurance provides a sense of security, ensuring that consumers can quickly replace or repair their phones in case of damage or loss. 
Europe Mobile Phone Insurance Market
What challenges does the Europe Mobile Phone Insurance Market face?
The Europe mobile phone insurance market is facing several challenges that are impacting its growth and profitability. One of the main challenges is the increasing competition in the market. With more providers entering the market, it becomes harder for individual providers to differentiate themselves and offer unique value propositions. This has led to a price war, making it more difficult for providers to maintain profitability.

Another challenge is the increasing complexity of mobile devices, which has made it more difficult and expensive to repair or replace damaged devices. This has led to higher claim costs, which can impact the profitability of mobile phone insurance providers. Additionally, fraud and abuse of insurance policies are a growing problem, which can further increase costs and undermine the credibility of the market.

In what ways has the COVID-19 pandemic affected Europe Mobile Phone Insurance Market?
The COVID-19 pandemic had a mixed impact on the Europe mobile phone insurance market. On one hand, the pandemic has led to increased demand for mobile phones and related services, as more people work and study from home. This has led to an increase in the number of mobile phone insurance policies being purchased, as consumers seek to protect their devices from damage or loss.

On the other hand, the pandemic has also led to a decline in consumer spending power, which has impacted the profitability of mobile phone insurance providers. Many consumers are facing financial difficulties due to job losses, reduced incomes, and other economic challenges, which has led to a reduction in the number of new policies being purchased.

Europe Mobile Phone Insurance Market


Scope of the Report:
 Report Metric Details
 Market size available for years2019-2033
 Base year considered2022
 Forecast period2023-2033
 Segments coveredBy Phone Type, By Coverage, By Distribution Channel, By End User
 Regions coveredFrance, Germany, Italy, Spain, U.K., Others
 Companies Covered
American International Group, Inc., Allianz SE, Apple Inc., AT&T Inc., Aviva Insurance Limited, Better Buy Insurance, Gadget Cover, Insurance2go, Telefonica UK Limited, Pier Insurance Managed Services Ltd.
Europe Mobile Phone Insurance Market Segmentation:
1. By Phone Type:
  • New Phone
  • Refurbished
2. By Coverage:
  • Data Protection
  • Electronic Damage
  • Physical Damage
  • Theft Protection 
  • Virus Protection
3. By Distribution Channel:
  • Device OEMs
  • Mobile Operators
  • Online
  • Retailers
  • Others
4. By End User:
  • Corporate
  • Personal
5. By Region:
  • France
  • Germany
  • Italy
  • Spain
  • U.K.
  • Others

Key Topics Covered in the Report:
  • Europe Mobile Phone Insurance Market Size (FY’2023-FY’2033)
  • Overview of Europe Mobile Phone Insurance Market 
  • Segmentation of Europe Mobile Phone Insurance Market By Phone Type (New Phone, Refurbished)
  • Segmentation of Europe Mobile Phone Insurance Market By Coverage (Data Protection, Electronic Damage, Physical Damage, Theft Protection, Virus Protection)
  • Segmentation of Europe Mobile Phone Insurance Market By Distribution Channel (Device OEMs, Mobile Operators, Online, Retailers, Others)
  • Segmentation of Europe Mobile Phone Insurance Market By End User (Corporate, Personal)
  • Statistical Snap of Europe Mobile Phone Insurance Market 
  • Growth Analysis of Europe Mobile Phone Insurance Market 
  • Problems and Challenges in Europe Mobile Phone Insurance Market 
  • Competitive Landscape in the Europe Mobile Phone Insurance Market 
  • Impact of COVID-19 and Demonetization on Europe Mobile Phone Insurance Market 
  • Details on Recent Investment in Europe Mobile Phone Insurance Market 
  • Competitive Analysis of Europe Mobile Phone Insurance Market 
  • Key Players in the Europe Mobile Phone Insurance Market 
  • SWOT Analysis of Europe Mobile Phone Insurance Market 
  • Europe Mobile Phone Insurance Market Future Outlook and Projections (FY’2023-FY’2033)
  • Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis

2. Research Methodology 
2.1 Research data source 
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation

3. Executive Summary
 
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges 
4.2. COVID-19 Impacts of the Europe Mobile Phone Insurance Market 

5. Market variables and outlook
5.1. SWOT analysis 
5.1.1 Strengths 
5.1.2 Weaknesses 
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis 
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape 
5.2.4 Technological landscape 
5.2.5 Environmental landscape 
5.2.6 Legal landscape 
5.3. PORTER’S five forces analysis 
5.3.1 Bargaining power of suppliers 
5.3.2 Bargaining power of Buyers 
5.3.3 Threat of Substitute 
5.3.4 Threat of new entrant 
5.3.5 Competitive rivalry
5.4. Heat map analysis

6. Competitive Landscape 
6.1 Europe Mobile Phone Insurance Manufacturing Base Distribution, Sales Area, Product Type 
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Europe Mobile Phone Insurance Market 

7. Europe Mobile Phone Insurance Market, By Phone Type, 2019-2033 (USD Million)
7.1 New Phone
7.2 Refurbished

8. Europe Mobile Phone Insurance Market, By Coverage, 2019-2033 (USD Million)
8.1 Data Protection
8.2 Electronic Damage
8.3 Physical Damage
8.4 Theft Protection 
8.5 Virus Protection

9. Europe Mobile Phone Insurance Market, By Distribution Channel, 2019-2033 (USD Million)
9.1 Device OEMs
9.2 Mobile Operators
9.3 Online
9.4 Retailers
9.5 Others

10. Europe Mobile Phone Insurance Market, By End User, 2019-2033 (USD Million)
10.1 Corporate
10.2 Personal

11. Europe Mobile Phone Insurance Market, By Region, 2019-2033 (USD Million)
11.1 Europe Mobile Phone Insurance Size and Market Share by Region (2019-2026)
11.2 Europe Mobile Phone Insurance Size and Market Share by Region (2027-2033)
11.3 France
11.4 Germany
11.5 Italy
11.6 Spain
11.7 U.K.
11.8 Others

12. Company Profiles
12.1 American International Group, Inc.
12.1.1 Company details 
12.1.2 Financial outlook
12.1.3 Product summary 
12.1.4 Recent developments
12.2 Allianz SE
12.2.1 Company details 
12.2.2 Financial outlook
12.2.3 Product summary 
12.2.4 Recent developments
12.3 Apple Inc.
12.3.1 Company details 
12.3.2 Financial outlook
12.3.3 Product summary 
12.3.4 Recent developments
12.4 AT&T Inc.
12.4.1 Company details 
12.4.2 Financial outlook
12.4.3 Product summary 
12.4.4 Recent developments
12.5 Aviva Insurance Limited
12.5.1 Company details 
12.5.2 Financial outlook
12.5.3 Product summary 
12.5.4 Recent developments
12.6 Better Buy Insurance
12.6.1 Company details 
12.6.2 Financial outlook
12.6.3 Product summary 
12.6.4 Recent developments
12.7 Gadget Cover
12.7.1 Company details 
12.7.2 Financial outlook
12.7.3 Product summary 
12.7.4 Recent developments
12.8 Insurance2go
12.8.1 Company details 
12.8.2 Financial outlook
12.8.3 Product summary 
12.8.4 Recent developments
12.9 Telefonica UK Limited
12.9.1 Company details 
12.9.2 Financial outlook
12.9.3 Product summary 
12.9.4 Recent developments
12.10 Pier Insurance Managed Services Ltd.
12.10.1 Company details 
12.10.2 Financial outlook
12.10.3 Product summary 
12.10.4 Recent developments

13. List of Abbreviations

14. Reference Links

15. Conclusion

16. Research Scope

SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.

The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings.  The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.

SPER-Methodology-1

SPER-Methodology-2

SPER-Methodology-3


Frequently Asked Questions About This Report
The key players in the market include Companies Covered American International Group, Inc., Allianz SE, Apple Inc., AT&T Inc., Aviva Insurance Limited, Better Buy Insurance, Gadget Cover, Insurance2go, Telefonica UK Limited, Pier Insurance Managed Services Ltd.
The demand for mobile phone insurance coverage in the area is anticipated to expand significantly along with the frequency of crimes involving smartphones.
Europe Mobile Phone Insurance Market is projected to reach USD XX billion by 2033, growing at a CAGR of XX% during the forecast period.
Europe Mobile Phone Insurance Market grew in market size from 2022. The Market is expected to reach USD XX billion by 2033, at a CAGR of XX% during the forecast period.
Europe Mobile Phone Insurance Market CAGR of XX% during the forecast period.
Europe Mobile Phone Insurance Market size is USD XX billion from 2023 to 2033.
Europe Mobile Phone Insurance Market Segment is covered By Phone Type, By Coverage, By Distribution Channel, By End User.
The Europe region is anticipated to have the highest market share in the Europe Mobile Phone Insurance Market.
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