United States Mobile Phone Insurance Market Report and Forecast 2024-2032
Market Report I 2024-04-08 I 178 Pages I EMR Inc.
United States Mobile Phone Insurance Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the United States mobile phone insurance market size reached a value of USD 11 billion in 2023. Aided by the burgeoning smartphone adoption rates and the escalating cost of mobile devices, the market is projected to further grow at a CAGR of 10.7% between 2024 and 2032 to reach a value of USD 28 billion by 2032.
Mobile phone insurance in the United States covers a spectrum of protection plans for devices against theft, loss, accidental damage, and mechanical failures. As smartphones become increasingly integral to daily life, carrying significant personal and financial information, the demand for comprehensive insurance solutions has surged. This sector is influenced by the high repair and replacement costs of modern smartphones, driving consumers to seek insurance as a financial safety net.
The ever-increasing smartphone ownership among the U.S. population serves as a primary catalyst for the United States mobile phone insurance market growth. High-end smartphones, with their steep price tags, necessitate insurance coverage to protect against potential losses. The sophistication of modern smartphones, featuring edge-to-edge displays and premium materials, translates to costly repairs. Insurance policies mitigate these expenses, appealing to consumers looking to safeguard their investments.
Growing awareness about the benefits of mobile phone insurance, coupled with a consumer preference for securing their devices against unforeseen incidents, significantly contributes to the United States mobile phone insurance market expansion. Mobile carriers and electronics retailers are increasingly offering insurance as part of their service contracts or at the point of sale. These bundled offerings simplify the insurance process and enhance its appeal to consumers.
With scepticism and lack of awareness being significant barriers to adoption, there is a growing focus on educating consumers about the benefits of mobile phone insurance. Insurers are investing in marketing and educational campaigns to demystify insurance products, explain the coverage details, and highlight the potential financial benefits. As per the United States mobile phone insurance market analysis, this trend is critical for expanding the consumer base and fostering informed decision-making among potential policyholders.
As smartphones continue to integrate deeper into daily life, users are seeking more comprehensive insurance plans that go beyond basic protection against loss or damage. This includes coverage for data protection, cyber threats, unauthorised transactions, and even screen protection, which further contributes to the United States mobile phone insurance market share. Insurers are responding by offering multifaceted plans that address a broader range of concerns, making mobile phone insurance more appealing and relevant to today's digital lifestyle.
Technological advancements are revolutionising the claims process and overall customer service experience in the mobile phone insurance sector. Insurers are leveraging AI and machine learning for quicker claims processing, chatbots for 24/7 customer service, and apps for easy policy management. As per the United States mobile phone insurance market outlook, this trend towards digital transformation is enhancing efficiency, transparency, and customer satisfaction, making insurance policies more user-friendly.
The market is also witnessing innovations in insurance products, including plans that cover data protection, identity theft, and even digital wallet protection. These comprehensive coverage options address a broader range of consumer concerns, making insurance more attractive.
Collaborations between mobile phone insurance providers and other stakeholders in the mobile ecosystem, such as manufacturers, carriers, and retailers, are becoming increasingly common in mobile phone insurance market in the United States. These partnerships enable seamless integration of insurance offerings at the point of sale, providing customers with convenient options to insure their devices as they purchase them. This trend helps in expanding the market reach and penetration of mobile phone insurance products.
Market Segmentation
The market can be divided based on phone type, coverage type, and region.
Market Breakup by Phone Type
- Budget Phones
- Mid and High-end Phones
- Premium Smartphones
Market Breakup by Coverage Type
- Physical Damage
- Internal Component Failure
- Theft and Loss Protection
- Others
Market Breakup by Region
- New England
- Mideast
- Great Lakes
- Plains
- Southeast
- Southwest
- Rocky Mountain
- Far West
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the United States mobile phone insurance market. Some of the major players explored in the report by Expert Market Research are as follows:
- Apple Inc.
- AT&T Inc.
- Worth Ave. Group, L.L.C.
- American International Group, Inc.
- SquareTrade, Inc.
- Assurant, Inc.
- AKKO, LLC
- Asurion, LLC
- Others
About Us
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.
Our high-quality, data-driven analysis provides the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and strengthen your strategic planning. Secure your organisation's future success by acquiring one of our Expert Market Research reports today.
*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America Mobile Phone Insurance Market Overview
8.1 Key Industry Highlights
8.2 North America Mobile Phone Insurance Historical Market (2018-2023)
8.3 North America Mobile Phone Insurance Market Forecast (2024-2032)
8.4 North America Mobile Phone Insurance Market Breakup by Country
8.4.1 United States
8.4.2 Canada
9 United States Mobile Phone Insurance Market Overview
9.1 Key Industry Highlights
9.2 United States Mobile Phone Insurance Historical Market (2018-2023)
9.3 United States Mobile Phone Insurance Market Forecast (2024-2032)
10 United States Mobile Phone Insurance Market by Phone Type
10.1 Budget Phones
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Mid and High-end Phones
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Premium Smartphones
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 United States Mobile Phone Insurance Market by Coverage Type
11.1 Physical Damage
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Internal Component Failure
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Theft and Loss Protection
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Others
12 United States Mobile Phone Insurance Market by Region
12.1 New England
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Mideast
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Great Lakes
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Plains
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Southeast
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Southwest
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
12.7 Rocky Mountain
12.7.1 Historical Trend (2018-2023)
12.7.2 Forecast Trend (2024-2032)
12.8 Far West
12.8.1 Historical Trend (2018-2023)
12.8.2 Forecast Trend (2024-2032)
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter's Five Forces Analysis
13.2.1 Supplier's Power
13.2.2 Buyer's Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Apple Inc.
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 AT&T Inc.
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Worth Ave. Group, L.L.C.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 American International Group, Inc.
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 SquareTrade, Inc.
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Assurant, Inc.
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 AKKO, LLC
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 Asurion, LLC
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Mobile Phone Insurance Market: Key Industry Highlights, 2018 and 2032
2. United States Mobile Phone Insurance Market: Key Industry Highlights, 2018 and 2032
3. United States Mobile Phone Insurance Historical Market: Breakup by Phone Type (USD Billion), 2018-2023
4. United States Mobile Phone Insurance Market Forecast: Breakup by Phone Type (USD Billion), 2024-2032
5. United States Mobile Phone Insurance Historical Market: Breakup by Coverage Type (USD Billion), 2018-2023
6. United States Mobile Phone Insurance Market Forecast: Breakup by Coverage Type (USD Billion), 2024-2032
7. United States Mobile Phone Insurance Historical Market: Breakup by Region (USD Billion), 2018-2023
8. United States Mobile Phone Insurance Market Forecast: Breakup by Region (USD Billion), 2024-2032
9. United States Mobile Phone Insurance Market Structure
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.