According to the latest report by IMARC Group, titled, “United States Mobile Phone Insurance Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the United States mobile phone insurance market is expected to continue its moderate growth during the forecast period (2021-2026).
US Mobile Phone Insurance Market Trends
The rising number of flagship smartphone users and the growing incidences of accidental damage, phone thefts, and device malfunction are primarily driving the United States mobile phone insurance market. Furthermore, mobile phones are highly prone to physical damages and technical glitches, and the rising costs of smartphones are encouraging consumers to opt for mobile phone insurance policies.
Moreover, several key players are improving their policies with features, including data protection, recovery, and extensive technical support throughout their insurance claim, etc. Many insurance companies are introducing policies with varying monthly premium amounts and offering coverage based on individual requirements. Additionally, they are also collaborating with telecommunication operators to expand their customer base. All of these above-mentioned factors will continue to drive the market for mobile phone insurance in the US over the coming years.
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Impact of Covid-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Industry Definition and Application:
Mobile phone insurance is a type of financial assistance provided to smartphone users against expenses or losses incurred due to uncertain damages or theft. It usually offers coverage for theft, accidental damage, malicious damage, water damage, manufacturing defects, cracked screens, high repair costs and broken buttons. Currently, the increasing instances of mobile phone theft are positively influencing the demand for mobile phone insurance in the United States (US).
For more information about this report visit: https://www.imarcgroup.com/united-states-mobile-phone-insurance-market
United States Mobile Phone Insurance Market 2021-2026 Analysis and Segmentation:
The report has segmented the market on the basis of Phone Type, Coverage, Distribution Channel, End User and Region.
By Phone Type:
By Distribution Channel:
By End User:
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