Asia-Pacific Mobile Insurance Market : Global Demand Analysis & Opportunity Outlook 2023

Asia-Pacific Mobile Insurance Market Overview

With the increasing prevalence of expensive household goods, cars and consumer electronics, insurance has become an unavoidable and often necessary cost in modern life. Most insurance specialists 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. Mobile phones and smartphones in particular are also included in this. Asia Pacific mobile insurance market has grown at a rapid pace over the past few years and is anticipated to expand at a robust CAGR throughout the forecast period.

Market Size and Forecast

Asia-Pacific mobile insurance market was valued at USD 7.8 Billion in 2016 and is expected to reach to USD 17.6 Billion by the end of year 2023. The market is further expected to expand at a robust CAGR over the period 2016-2023. With such a significant growth, Asia Pacific region will be the largest region for the mobile phone insurance market in near future. India, China, Japan & Singapore are being potential regions for this market due to a continuous increase in personal disposable income in the Asia-Pacific region.

Market Segmentation

Our in depth analysis of the Asia Pacific insurance market is segmented on the following basis:

By Risk Covered:

• Accidental Damage
• Theft
• Liquid Damage
• Breakdown
• Worldwide Cover

By Region

• North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
• Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
• Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
• Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
• Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Market Dynamics

Supply and Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment