DUBAI, UAE. 18th August 2016: SNS Research's latest report indicates that the global mobile phone insurance market is expected for account for nearly $20 Billion in revenue by the end of 2016.
Given the increasing prevalence of expensive household goods, cars and consumer electronics, insurance has become an unavoidable and often necessary cost in modern life. Mobile phones, and smartphones in particular are no exception to this trend.
Most major wireless carriers, insurance specialists, device OEMs, retailers and even banks now offer insurance plans that cover theft, loss, malfunctions and damage of mobile phones. Many policies now also integrate enhanced technical support and additional protection features such as data backup facilities, allowing users to securely backup their phone data online.
SNS Research estimates that the global mobile phone insurance market is expected to account for nearly $20 Billion in revenue by the end of 2016. The market is further expected to grow at a CAGR of approximately 12% over the next four years, eventually accounting for over $30 Billion in revenue by the end of 2020.
The "Mobile Phone Insurance Ecosystem: 2016 – 2030 – Opportunities, Challenges, Strategies & Forecasts" report presents an in-depth assessment of the mobile phone insurance ecosystem including market drivers, challenges, opportunities, value chain, future roadmap, case studies, ecosystem player profiles and strategies. The report also presents market size forecasts from 2016 through to 2030. The forecasts are segmented for 5 regional and 25 country level markets.
The report will be of value to current and future potential investors into the mobile phone insurance sector, as well as wireless carriers, device OEMs and insurance providers who wish to broaden their knowledge of the ecosystem.
For further information concerning the SNS Research report "The Mobile Phone Insurance Ecosystem: 2016 – 2030 – Opportunities, Challenges, Strategies & Forecasts" please visit: http://www.snstelecom.com/mobilephoneinsurance
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About SNS Research
SNS Research is one of the most foremost market intelligence and consulting firms for the worldwide telecommunications industry, with a particular focus on wireless infrastructure and mobile devices. Developed by leading industry analysts our market intelligence and consultancy services provide unique insights to the global telecommunications industry with information ranging from niche details of mobile handset models to tracking to large network infrastructure contracts and cellular network operator metrics. Whether your focus is strategic decision making, service development, investment or marketing, our services will allow you to make optimal decisions with self-assurance.