Global Mobile Phone Insurance Ecosystem Market to Reach Above US$ 130 Billion by 2021

NEW YORK, June 19, 2018 /PRNewswire/ --

MarketResearch.biz announces publication of its most recently generated research report titled, "Global Mobile Phone Insurance Ecosystem Market by Insurance Type (Physical Damage, Theft & Loss, and Others [Mechanical Damage, Data Protection, Unauthorized Call Protection, Accessories Protection, Overseas/Worldwide Cover]), and Region/Country - Global Forecast to 2026.", which offers a holistic view of the mobile phone insurance ecosystem market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2017-2021) of the global mobile phone insurance ecosystem market is projected to be over US$ 130 Bn, which is expected to increase rather moderately over the latter part of the five-year forecast period.

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Mobile insurance entails protection coverage for devices against physical damage, lost or stolen devices, and malfunctions. A mobile phone insurance ecosystem is a network or interconnected systems or an interconnected set of services that allow users to fulfill a variety of needs in one integrated experience, and includes insurance providers and customers. Ecosystem is used by insurers for providing enhanced and timely services to their customers. It also helps customers to check important information conveniently online.

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Global Mobile Phone Insurance Ecosystem Market: Market Dynamics  

Major factors driving growth of the global mobile phone insurance ecosystem market are increasing number of smartphones users and rising incidences of phone thefts, accidental damage, device malfunction, and loss of device. In addition, phones are prone to physical and technical damage, and rising cost of smartphones is driving the need to opt for phone insurance policies.

However, high cost of mobile phone insurance and unclear terms and conditions are major factors expected to hamper growth of the global mobile phone insurance ecosystem market to a certain extent.

According to the opportunity analysis, the optimistic scenario indicates that revenue from the global mobile phone insurance ecosystem market is expected to expand at a lucrative CAGR and is projected to reach significant value, owing to rising adoption of smartphones among all age groups and mobile operators offering mobile insurance as a value-added service for mobile users.