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Europe Mobile Insurance Market Segmentation By Mobile Type (Refurbished and New); By Providers (Retailers, Device OEMs, Mobile Operators and Online) and By End User (Personal and Corporate) - Industry Demand Analysis and Opportunity Assessment 2018-2028

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In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • December 2019: Asurion announced that it has acquired uBreakFix, a consumer tech repair retailer, and also announced their collaboration with wireless industry group CTIA to validate the high quality of both the companies’ phone repairs. CTIA represents the wireless communication industry in the U.S. and being the members of CTIA, it would help the company to expand its position in the market.

  • October 2019: Assurant, Inc. announced that it has acquired MMI-CPR LLC, which operates as cell phone repair, in mobile device repair stores in more than 700 locations. This acquisition would help both the company to diversify their businesses through new products and services.

Europe Mobile Insurance Market Overview

The Europe mobile insurance market is thriving on the back of the ongoing trend of mergers and acquisitions between stakeholders and the growing strategic movements adopted by players in the mobile insurance industry, coupled with the growing customization in the insurance policies, such as better support terms of services that include data protection, recovery features and other extensive technical support, and the increasing transformation observed in the mobile insurance market to digital-first business models are some of the factors anticipated to promote towards the growth of the Europe mobile insurance market. Additionally, the market is also thriving on the back of the growing number of incidents of accidental damage, device malfunction and thefts among others.

The Europe mobile insurance market registered a value of USD 6030.0 million in the year 2018 and is expected to reach a value of USD 10254.2 million in the year 2028 by growing with a CAGR of 6.16% during the forecast period. Additionally, the market is anticipated to gain an incremental $ opportunity of USD 112.3 million in the year 2020 as compared to the previous year. On the other hand, the market is also anticipated to grow by 1.61x and gain an absolute $ opportunity of USD 3896.9 million during the forecast period.

Market Segmentation Synopsis

By Providers

The Europe mobile insurance market has been segmented by providers into retailers, device OEMs, mobile operators and online. The retailers segment registered the largest market share of 41.20% in the year 2018 and is expected to garner a CAGR of 6.29% throughout the forecast period and further cross a value of USD 4276.0 million by the end of 2028. Additionally, the segment is also anticipated to gain an incremental $ opportunity of USD 49.6 million in the year 2020 as compared to the previous year and further grow by 1.63x and gain an absolute $ opportunity of USD 1650.4 million during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT

/Europe-Mobile-Insurance-Market

Market Drivers and Challenges

Growth Indicators

Rising Number of Mobile Subscribers and Rising Criminal Activities

Significant mobile subscribers base along with the growing purchase of expensive mobile phones across Europe is anticipated to boost the growth of mobile insurance market in the region. According to GSM Association, in 2017, there were over 465 million unique mobile subscribers in the region which is equivalent to over 85% of the population of Europe. Mobile insurance provides protections from several risks such as damage, theft and malfunction among others. Europe has witnessed remarkable rise in smartphone adoption over the years and with this, the mobile industry is expected to witness significant growth of mobile insurance policies offered by various network operators, insurance companies, smartphone manufacturers and retailers across the region. This growing use of smartphones across Europe is driving the mobile insurance market in recent times. Substantial rise in the number of smartphone crime is also expected to surge the demand for mobile phone insurance policies in the region. There is a rise in street crime, involvement of organized crime at different levels and trafficking of stolen mobile devices for resale purpose. This growing prevalence of crime such as theft & robbery of mobile phones is expected to drive the demand for mobile insurance policies. Furthermore, rising internet penetration in Europe is anticipated to drive customer to purchase mobile phones through the internet. Thus, several major companies such as Google and Amazon have started offering mobile insurance along with the purchase of the mobile phone. Such factors are anticipated to drive the growth of the Europe mobile insurance market.

Barriers

Depreciating Market Value of Old Mobile Phones

Most consumers in the recent era are likely to replace their smartphones in over two years on an average. This depreciating market value of old smartphones is expected to bring insurance companies face to face with moral hazard. Though, the mobile phone insurance companies offer policies over refurbished phones, but their adoption rate and cost are relatively low as compared to policies for new phones. Such a factor is anticipated to act as a barrier to the growth of the Europe mobile insurance market.

Competitive Landscape

Some of the affluent industry leaders in the Europe mobile insurance market are Asurion Europe Limited, Assurant, Inc., AmTrust Europe Limited, AT&T Inc., Brightstar Corp., Revolut Technologies Inc. and Vodafone Group plc.

FREQUENTLY ASKED QUESTIONS

Europe Mobile Insurance Market

1. Introduction

1.1. Market Definition

1.2. Product Overview

1.3. Market Segmentation

2. Research Methodology

2.1. Variables (Dependent and Independent)

2.2. Multi Factor Based Sensitivity Model

3. Executive Summary - Europe Mobile Insurance Market

4. Recent Developments in Europe Mobile Insurance Market

5.Analysis of Market Dynamics

5.1. Drivers

5.2. Restraints/Challenges

5.3. Trends

6. Country Wise Assessment of Various Price Groups of Mobile Insurance

7. Opportunity Mapping for the Players in the Europe Mobile Insurance Market

8. Country Wise Perception Analysis

9. Europe Mobile Insurance Market Outlook

9.1. Market Size and forecast, 2018-2028f

o By Value (USD Million)

9.2. Regional Mobile Insurance Market Segmentation, 2018-2028f

o By Mobile Type

· Refurbished, 2018-2028f (USD Million)

· New, 2018-2028f (USD Million)

o  By Channel

· Retailers, 2018-2028f (USD Million)

· Device OEMs, 2018-2028f (USD Million)

· Mobile Operators, 2018-2028f (USD Million)

· Online, 2018-2028f (USD Million)

o  By End-User

· Personal, 2018-2028f (USD Million)

· Corporate, 2018-2028f (USD Million)

10. Germany Mobile Insurance Market Outlook

10.1. Market Size and forecast, 2018-2028f

o By Value (USD Million)

10.2. Country Mobile Insurance Market Segmentation, 2018-2028

o  By Mobile Type

· Refurbished, 2018-2028f (USD Million)

· New, 2018-2028f (USD Million)

o  By Channel

· Retailers, 2018-2028f (USD Million)

· Device OEMs, 2018-2028f (USD Million)

· Mobile Operators, 2018-2028f (USD Million)

· Online, 2018-2028f (USD Million)

o  By End-User

· Personal, 2018-2028f (USD Million)

· Corporate, 2018-2028f (USD Million)

11. UK Mobile Insurance Market Outlook

11.1. Market Size and forecast, 2018-2028f

o By Value (USD Million)

11.2. Country Mobile Insurance Market Segmentation, 2018-2028f

o  By Mobile Type

· Refurbished, 2018-2028f (USD Million)

· New, 2018-2028f (USD Million)

o  By Channel

· Retailers, 2018-2028f (USD Million)

· Device OEMs, 2018-2028f (USD Million)

· Mobile Operators, 2018-2028f (USD Million)

· Online, 2018-2028f (USD Million)

o  By End-User

· Personal, 2018-2028f (USD Million)

· Corporate, 2018-2028f (USD Million)

12.  France Mobile Insurance Market Outlook

12.1. Market Size and forecast, 2018-2028f

o By Value (USD Million)

12.2.Country Mobile Insurance Market Segmentation, 2018-2028f

o  By Mobile Type

· Refurbished, 2018-2028f (USD Million)

· New, 2018-2028f (USD Million)

o  By Channel

· Retailers, 2018-2028f (USD Million)

· Device OEMs, 2018-2028f (USD Million)

· Mobile Operators, 2018-2028f (USD Million)

· Online, 2018-2028f (USD Million)

o  By End-User

· Personal, 2018-2028f (USD Million)

· Corporate, 2018-2028f (USD Million)

13.  Italy Mobile Insurance Market Outlook

13.1.Market Size and forecast, 2018-2028f

o By Value (USD Million)

13.2.Country Mobile Insurance Market Segmentation, 2018-2028f

o  By Mobile Type

· Refurbished, 2018-2028f (USD Million)

· New, 2018-2028f (USD Million)

o  By Channel

· Retailers, 2018-2028f (USD Million)

· Device OEMs, 2018-2028f (USD Million)

· Mobile Operators, 2018-2028f (USD Million)

· Online, 2018-2028f (USD Million)

o  By End-User

· Personal, 2018-2028f (USD Million)

· Corporate, 2018-2028f (USD Million)

14.  Spain Mobile Insurance Market Outlook

14.1. Market Size and forecast, 2018-2028f

o By Value (USD Million)

14.2. Country Mobile Insurance Market Segmentation, 2018-2028f

o  By Mobile Type

· Refurbished, 2018-2028f (USD Million)

· New, 2018-2028f (USD Million)

o By Channel

· Retailers, 2018-2028f (USD Million)

· Device OEMs, 2018-2028f (USD Million)

· Mobile Operators, 2018-2028f (USD Million)

· Online, 2018-2028f (USD Million)

o  By End-User

· Personal, 2018-2028f (USD Million)

· Corporate, 2018-2028f (USD Million)

15. Nordic Mobile Insurance Market Outlook

15.1. Market Size and forecast, 2018-2028f

o By Value (USD Million)

15.2. Country Mobile Insurance Market Segmentation, 2018-2028f

o  By Mobile Type

· Refurbished, 2018-2028f (USD Million)

· New, 2018-2028f (USD Million)

o  By Channel

· Retailers, 2018-2028f (USD Million)

· Device OEMs, 2018-2028f (USD Million)

· Mobile Operators, 2018-2028f (USD Million)

· Online, 2018-2028f (USD Million)

o  By End-User

· Personal, 2018-2028f (USD Million)

· Corporate, 2018-2028f (USD Million)

16. Benelux Mobile Insurance Market Outlook

16.1. Market Size and forecast, 2018-2028f

o By Value (USD Million)

16.2. Country Mobile Insurance Market Segmentation, 2018-2028f

o  By Mobile Type

· Refurbished, 2018-2028f (USD Million)

· New, 2018-2028f (USD Million)

o By Channel

· Retailers, 2018-2028f (USD Million)

· Device OEMs, 2018-2028f (USD Million)

· Mobile Operators, 2018-2028f (USD Million)

· Online, 2018-2028f (USD Million)

o By End-User

· Personal, 2018-2028f (USD Million)

· Corporate, 2018-2028f (USD Million)

17. Russia Mobile Insurance Market Outlook

17.1. Market Size and forecast, 2018-2028f

o By Value (USD Million)

17.2. Country Mobile Insurance Market Segmentation, 2018-2028f

o  By Mobile Type

· Refurbished, 2018-2028f (USD Million)

· New, 2018-2028f (USD Million)

o By Channel

· Retailers, 2018-2028f (USD Million)

· Device OEMs, 2018-2028f (USD Million)

· Mobile Operators, 2018-2028f (USD Million)

· Online, 2018-2028f (USD Million)

o By End-User

· Personal, 2018-2028f (USD Million)

· Corporate, 2018-2028f (USD Million)

18. Rest of Europe Mobile Insurance Market Outlook

18.1. Market Size and forecast, 2018-2028f

o By Value (USD Million)

18.2. Country Mobile Insurance Market Segmentation, 2018-2028f

o By Mobile Type

· Refurbished, 2018-2028f (USD Million)

· New, 2018-2028f (USD Million)

o By Channel

· Retailers, 2018-2028f (USD Million)

· Device OEMs, 2018-2028f (USD Million)

· Mobile Operators, 2018-2028f (USD Million)

· Online, 2018-2028f (USD Million)

o By End-User

· Personal, 2018-2028f (USD Million)

· Corporate, 2018-2028f (USD Million)

19. Competitive Landscape

19.1. AmTrust Europe Limited

19.2. Asurion Europe Limited

19.3. Assurant, Inc.

19.4. AT&T Inc.

19.5.Brightstar Corp.

19.6.Revolut Ltd.

19.7.Vodafone Group PLC


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