The increasing cost of smartphones is expected to drive the growth of India mobile phone insurance market through 2024. According to TechSci Research report, “India Mobile Phone Insurance Market By Phone Coverage, By Coverage, By Distribution Channel, By Plan, By End, User, Competition, Forecast & Opportunities, 2024” India mobile phone insurance market is expected to grow at a formidable rate during the forecast period since mobile phones are prone to physical and technical damage.
The Important Factors of India Mobile Phone Insurance Market
Additionally, rising demand for data and virus protection plans, improving access through improved distribution networks, and rising demand for premium smartphones, among others are some other factors driving the mobile phone insurance market in India. Furthermore, insurance vendors in the market are improving their policies with recovery features, data protection, and extensive technical support to consumers while they claim their insurance. However, the variation between the coverage and premium costs according to the device, i.e., iOS-managed phones or Android-based phones is likely to hamper the growth of the market during the forecast period.
Browse market data Tables and Figures spread through Pages and an in-depth TOC on " India Mobile Phone Insurance Market".
The India mobile phone insurance market is segmented based on phone coverage, coverage, distribution channel, plan, end user, region, and company. Based on coverage, the market can be fragmented into physical damage, electronic damage, theft protection, virus protection, and others. The electronic damage segment is expected to register the highest CAGR during the forecast period since it provides protection against wear and tear or gradual deterioration of electronic components, parts, and accessories. Based on the plan, the market can be grouped into Up to USD20, USD20.1 to USD30, USD30 to USD45, and above USD45. The USD20.1 to USD30 segment is expected to register significant growth owing to the increasing cost of mobile phones and growing customer spending on expensive mobile phones.
On the basis of end users, the market can be divided into corporate and personal. The personal segment is expected to witness significant growth during the forecast period owing to the growing proliferation of smartphones in the country.
The Major competitors of India Mobile Phone Insurance Market
- Bajaj Allianz General Insurance Company Limited
- National Insurance Company Limited
- Oriental Insurance Company Limited
- New India Assurance Co Ltd.
- SyskaGadget Secure Insurance
- TIMES Global Mobile Insurance
- Go Digit General Insurance Limited
- OneAssist Consumer Solutions Private Limited
- sync scan
- Warranty Bazaar and others are some of the leading players operating in India mobile phone insurance market.
Customers can also request 10% free customization on this report.
“India mobile phone insurance market is expected to witness significant growth during the forecast period, owing to the increasing awareness regarding cyber threats and mechanical breakdowns coupled with the availability of customized cell insurance solutions. Additionally, in India online retailers are also venturing into the insurance market through partnerships with insurance service providers.
For instance, in October 2018, Flipkart, a leading retailer in India, ventured into partnership will Bajaj Allianz, an insurance service provider active in various sectors including, home, auto, and mobile phone, to provide services to its customers.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India Mobile Phone Insurance Market By Phone Coverage, By Coverage, By Distribution Channel, By Plan, By End, User, Competition, Forecast & Opportunities, 2024”, has evaluated the future growth potential of India mobile phone insurance market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers make sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India mobile phone insurance market.
You may also read: Harvesting Equipment Market
You may also read: Automotive Loan Market
You may also read: Loan Market
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the mobile phone insurance ecosystem market include Aviva, Allianz Insurance, Verizon Communications, Vodafone, Simplesurance, Asurion, Microsoft Corporation, Telefonica Insurance, Avast Software, Assurant, and AmTrust International Underwriters.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Mobile Phone Insurance Ecosystem Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/mobile-phone-insurance-ecosystem-market/download-sampleMarket DynamicsInsurance has become a crucial and often necessary cost in modern life, and mobile phones are no exception.
Mobile insurance is taking off rapidly in emerging markets with various product innovations and distribution partnerships.
Many policies now integrate enhanced technical support and additional protection features such as data backup facilities, allowing users to securely backup their phone data online.
Meanwhile, the complexities related with the terms & conditions make it hard for purchasers to opt for appropriate claim, thwarting the market growth.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
