The Global Mobile Handset Protection Market is expected to reach US$ 90,574.3 million Owing to Increasing Rate of Adoption of Connected Devices by Consumers. Mobile handset protection involves insuring the handset from any loss or damage. It includes protection from theft, breakage and spillage amongst others. Increasing adoption of smartphones coupled with connected devices in United States at a rapid pace is one of the important factors that has aided the mobile handset protection market in recent past and is expected to follow a similar trend over the forecast years that will duly involve more innovations and technological advancements on the same field. The handset protection programs offer a convenient option to reduce the service disruption and can ensure the consumers to get back to their phone quickly and in a pain free manner.
Top Players of Global Mobile Handset Protection Market are Studied: AT&T Mobility, Safeware, Microsoft, OneAssist Consumer Solutions Pvt. Ltd., Sprint Corporation, OnsiteGo, Apple Inc., Brightstar Device Protection, Pier Insurance, T-MOBILE USA, INC, Verizon Communications Inc., Walmart, Asurion, Best Buy, American International Group, Inc. amongst others. In 2015, AT&T acquired GSF telecom, a Mexican telecom provider company. This helped AT&T to provide its services and gain a foothold in the Mexican market.
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Mobile Handset Protection Market, by Type
The carrier handset protection holds the highest market share as compared to other segments. It is because handset damage is the most common. Accidental damage is quite unpredictable in nature. The most common way for device malfunction is overload of applications in it. Even though, the smartphones today are water proof, moisture exposure for the hardware affects the phone’s functionality. Hence, nowadays the mobile carriers or operators are providing protection plans to the consumers. Operators such as AT&T and Verizon provide bundles of protection plans along with the sim cards for quite a reasonable price. If the phone is irreparable, in some cases they offer handset replacement. These plans range from 6 months to year. Then the consumer may purchase plans for extended period. These ensures the safety of the handset and the consumer care free.
Mobile Handset Protection Market, By Region
On the basis of geography, North America accounted for the largest market share in 2017 and is forecasted to grow substantially. In recent past, there is huge American population using smartphones. In those, the saturation for usage of smartphones in the demographics is majorly youngsters. Almost every teenager has a smartphone today. Youngsters are often negligent towards their devices. This leads to increased cases of accidental damage. Therefore, North America has the largest demand for mobile handset protection.
Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
• Neutral viewpoint on the market performance
• Recent industry trends and developments
• Competitive landscape & approaches of major players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• Detailed analysis of the Mobile Handset Protection Market
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