The global market for mobile handset protection is expanding with a CAGR of 11.3% throughout the anticipated period. The market for mobile handset protection is projected to generate US$ 6,789.2 million in sales in 2022 and US$ 19,876.7 million by 2032.
| Attributes | Details |
| Mobile Handset Protection Market Size (2022) | US$ 6,789.2 Mn |
| Mobile Handset Protection Market Size (2032) | US$ 19,876.7 Mn |
| Mobile Handset Protection Market CAGR | 11.3% |
Mobile Handset Protection Market is projected to reach valuation of US$ 6789.2 Mn in 2022, likely to surge at a vigorous 11.3% CAGR from 2022 – 2032M. obile handsets have become an integral part of consumer’s daily lives in this growing communication driven environment. Smartphone penetration and proliferation has compelled the need of appropriate security methods to inhibit misuse, device theft, and damage. In case of loss, damage or malfunctioning of mobile handsets, the mobile protection program ensures that the consumers get their devices back within short period of time. Moreover, mobility and bring-your-own-device (BYOD) trends have widened the smartphone application areas.
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Mobile Handset Protection Market: Drivers and Restraints
Cost benefits of buying mobile device protection as opposed to purchasing replacement drives is also major factor driving the growth of mobile protection market. Moreover, these services also help in improving customer satisfaction and improve customer care expenses, thus by obtaining support from mobile operators and retailers.
Minimal cost assistance of providing protection services to the lower price mobile devices is the major challenge faced by most of the vendors in the Mobile Handset Protection market.
Global Mobile Handset Protection Market: Competitive Landscape
Key Players
Major player operating in Mobile Handset Protection market includes Squaretrade, Asurion LLC, CAN Financial Corp., Liberty Mutual, American International Group Inc., Verizon Wireless, Sprint Corporation, T-Mobile, Apple Inc., and Walmart.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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Global Mobile Handset Protection Market: Market Segmentation
Global Mobile Handset Protection Market can be divided into four segments, on the basis of protection provider, pricing model, sales channel, and region.
The major segments of Mobile Handset Protection market on the basis of the protection provider include:
- Mobile Operator/Carrier
- Mobile Device OEM
- Direct-to-Consumer Services
- Other Channel (Retailers)
The major segments of Mobile Handset Protection market on the basis of the Pricing Model include:
- One-time Fee
- Monthly Fee
- Billed by Carrier/OEM
The major segments of Mobile Handset Protection market on the basis of the sales channel include:
- Retail Chains
- Brand Stores
- E-commerce/Online
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
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