휴대폰 보험 시장 규모는 2024년 411억 5,000만 달러에서 2035년에는 1,262억 4,000만 달러에 달할 것으로 예측됩니다.
| 주요 시장 통계 | |
|---|---|
| 예측 기간 | 2025-2035년 |
| 2025년 평가 | 449억 8,000만 달러 |
| 2035년 예측 | 1,262억 4,000만 달러 |
| CAGR | 10.87% |
시장의 성장은 주로 선진국과 신흥 국가 모두에서 스마트폰의 보급 확대에 의해 주도되고 있으며, 이로 인해 보험에 가입할 수 있는 사용자층이 크게 확대되고 있습니다. 특히 고급 디스플레이와 통합 부품이 탑재된 하이엔드 모델의 경우, 단말기 가격 상승과 수리 비용의 지속적인 증가로 인해 보험의 가치 제안이 더욱 견고해지고 있습니다. 또한 디지털 유통과 임베디드 보험 모델의 급속한 성장으로 인해 도입 장벽이 낮아지고 있습니다. 통신사, 제조업체, 온라인 소매업체, 디지털 지갑과의 제휴를 통해 판매 시점에 원활한 가입이 가능하며, 디지털 플랫폼과 보험 기술 솔루션을 통해 보험 계약의 활성화 및 청구 절차가 더욱 편리해져 시장 침투가 가속화되고 있습니다.
휴대폰 보험 도입
BIS Research의 조사에 따르면 휴대폰 보험은 스마트폰과 피처폰을 대상으로 하는 금융 보호 서비스로 정의되며, 물리적 손상, 내부 부품 고장, 도난, 분실, 부정사용, 디지털 보안 위협 등 다양한 위험을 보장하는 것으로 정의하고 있습니다. 이러한 서비스는 보험사, 모바일 네트워크 사업자, 디바이스 제조업체, 소매업체, 금융기관, 디지털 퍼스트의 인슈어테크 플랫폼으로 구성된 통합 생태계를 통해 제공됩니다. 핵심 시장 기능에는 인수 업무, 보험 계약 관리, 자동 및 수동 보험금 심사, 수리 또는 교체 이동, 물류 및 역물류 조정, 부정행위 관리, 옴니채널 고객 지원 등이 포함됩니다. 이번 조사는 북미, 유럽, 아시아태평양, 중동 및 아프리카, 남미 등 5개 지역별로 시장을 평가하고, 스마트폰 교체 주기, 규제 프레임워크, 유통 모델, 소비자 보호 의식의 차이를 파악하기 위해 국가별 상세 분석을 실시했습니다. 5G 단말기 보급 확대, 디지털 청구 자동화, 판매 시점에 내장된 보호, 지속가능성에 초점을 맞춘 단말기 수명주기 프로그램, 보험사 및 제3자 관리 기관의 지속적인 제품 및 서비스 혁신 등이 영향을 미치고 있습니다.
시장 개요
세계 스마트폰 시장은 급속한 성장에서 규모 확대 단계로 접어들었고, 전 세계 인구의 약 54%에 해당하는 44억 명 이상이 스마트폰을 사용하고 있습니다. 이것이 휴대폰 보험 시장의 성장을 촉진하고 있습니다. 이러한 포화상태의 도달은 모바일 단말기 보호 제품경쟁 구도를 근본적으로 변화시키고 있습니다. 선진국 시장에서는 거의 완벽한 보급률을 보이고 있으며, 수요는 기종 변경 주기 및 프리미엄 부가서비스에 집중되어 있습니다. 반면, 신흥 지역, 특히 남아시아, 아프리카, 라틴아메리카에서는 저렴한 단말기, 통신 환경 개선, 편리한 금융 구조로 인해 사용자 확보가 지속적으로 크게 증가하고 있습니다. 인도는 이러한 궤적을 잘 보여주고 있으며, 보급률의 가속화로 향후 몇년안에 선진국 시장 수준에 근접할 것으로 예상되며, 방대한 보험 가입자층이 개발될 것으로 예측됩니다. 또한 수리 가능성을 촉진하는 규제 구상과 소비자의 '수리받을 권리'를 옹호하는 규제 구상은 보험금 청구의 경제성을 근본적으로 재구성하고 있습니다. 보험사들은 공인된 수리 네트워크와 당일 서비스 제공을 통한 수리 우선 전략을 점점 더 중요시하고 있으며, 건당 평균 청구 비용을 크게 절감하고 있습니다. 동시에, 확대되는 재생 기기 시장과 제조업체의 교체 프로그램은 순환 경제 모델을 가능하게 하고, 교체 재고의 필요성을 줄이는 동시에 보험금 청구의 경제성과 환경적 성과를 향상시키고 있습니다.
휴대폰 유형별로는 프리미엄 스마트폰이 시장을 주도할 전망
고급 기능과 높은 가격대를 특징으로 하는 프리미엄 스마트폰의 보급 확대는 휴대폰 분야 보험 수요의 급격한 증가를 촉진하고 있습니다. 단말기 교체 비용이 치솟는 가운데, 소비자들은 사고로 인한 손상, 도난, 고장에 대한 종합적인 보호를 점점 더 많이 요구하고 있습니다. 이러한 추세는 디지털 라이프스타일의 확대, 제조업체 간 제휴, 할부 구매를 통한 스마트폰 소유의 확산으로 더욱 가속화되고 있으며, 하이엔드 단말기의 보험 가입이 시장 성장을 촉진하는 중요한 요소로 작용하고 있습니다. 그 결과, 프리미엄 스마트폰이 휴대폰 보험 가입을 주도하고 업계 전반의 제품 혁신과 유통 전략을 형성할 것으로 예측됩니다.
보상 유형별로는 물리적 손상이 시장을 주도하고 있습니다.
낙하사고, 화면 깨짐, 액체 유출 등 물리적 손상 보상 사건은 휴대폰 보험 가입을 촉진하는 주요 요인으로 작용하고 있습니다. 단말기가 점점 더 정교해지고 고도화됨에 따라 파손의 위험이 높아지고, 수리 또는 교체 비용에 대한 소비자의 우려가 커지고 있습니다. 이러한 추세는 일상 생활에서의 단말기 사용 증가, 사고에 대한 보증 범위의 제한, 위험 감소에 대한 소비자의 인식이 높아짐에 따라 더욱 강화되고 있습니다. 보험사들은 맞춤형 보험 상품과 신속한 보험금 청구 처리로 대응하고 있으며, 신체손해보험은 시장의 구매 결정과 경쟁적 차별화를 형성하는 주요 부문으로 확고히 자리매김하고 있습니다.
지역별로는 양극화된 구조를 보이고 있으며, 미국이 가장 큰 성숙 시장으로 기능하는 반면, 아시아태평양이 주요 장기 성장 동력이 되고 있습니다. 미국은 프리미엄 및 플래그십 스마트폰의 높은 보급률, 통신사 및 소매업체의 정교한 번들 판매 방식, 연장 보증 및 단말기 보호 플랜에 대한 소비자의 높은 인지도를 바탕으로 절대적인 시장 규모에서 선두를 달리고 있습니다. 미국의 이통사, OEM, 대형 소매업체들은 보험을 판매 시점 또는 월별 서비스 플랜내 표준 부가서비스로 제도화하여 높은 평균 보험료와 안정적인 갱신율을 유지하고 있습니다. 한편, 아시아태평양은 시장이 이질적이지만 전체적으로 가장 높은 구조적 성장 여력을 가지고 있습니다. 중산층 확대, 도시화, 고부가가치 스마트폰으로의 전환, 특히 할부 결제(EMI) 및 디지털 금융 플랫폼을 통한 단말기 구매가 증가함에 따라 보호 서비스의 필요성이 증가하고 있습니다. 중국, 인도, 동남아시아 등 시장에서 E-Commerce와 슈퍼 앱 생태계의 급속한 성장도 대규모 임베디드 및 앱 기반 유통 모델을 가능하게 하고 있습니다. 북미는 견고한 매출과 수익성을 유지하는 반면, 아시아태평양은 인지도 향상, 유통 파트너십의 성숙, 보험사들이 현지 가격 민감도 및 이용 패턴에 맞는 상품 개발을 진행함에 따라 세계 시장 성장을 주도할 것으로 예측됩니다.
세계의 휴대폰 보험 시장을 조사했으며, 주요 동향, 시장 영향요인의 분석, 법규제 환경, 파이프라인의 분석, 시장 규모 추이·예측, 각종 구분·지역/주요 국가별 상세 분석, 경쟁 구도, 주요 기업의 개요 등을 정리하여 전해드립니다.
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Mobile Phone Insurance Market Overview
The mobile phone insurance market was valued at $41.15 billion in 2024 and is projected to reach $126.24 billion by 2035.
| KEY MARKET STATISTICS | |
|---|---|
| Forecast Period | 2025 - 2035 |
| 2025 Evaluation | $44.98 Billion |
| 2035 Forecast | $126.24 Billion |
| CAGR | 10.87% |
Market growth is primarily driven by widespread smartphone adoption across both developed and emerging economies, significantly expanding the pool of insurable users. As device prices rise and repair costs continue to increase, especially for high-end models equipped with advanced displays and integrated components, the value proposition of insurance becomes stronger. Additionally, the rapid growth of digital distribution and embedded insurance models is lowering adoption barriers. Partnerships with telecom operators, manufacturers, online retailers, and digital wallets enable seamless point-of-sale enrolment, while digital platforms and insurtech solutions make policy activation and claims more convenient, accelerating market penetration.
Introduction of Mobile Phone Insurance
The study conducted by BIS Research highlights mobile phone insurance as a financial protection service designed to cover smartphones and feature phones against a broad spectrum of risks, including physical damage, internal component failure, theft, loss, unauthorized usage, and digital security threats. These services are delivered through an integrated ecosystem of insurers, mobile network operators, device manufacturers, retailers, financial institutions, and digital-first insurtech platforms. Core market functions include underwriting, policy administration, automated and manual claims assessment, repair or replacement fulfilment, logistics and reverse-logistics coordination, fraud management, and omnichannel customer support. This study evaluates the market across five geographic regions, i.e., North America, Europe, Asia-Pacific, the Middle East and Africa, and South America, with detailed country-level assessments to capture variations in smartphone replacement cycles, regulatory frameworks, distribution models, and consumer protection awareness. The market has been segmented by application, reflecting device usage and ownership patterns; by phone type, such as budget, mid-range, and premium smartphones, each with different risk exposures, claim frequencies, and insurance penetration rates; and by product categories, which include coverage types such as physical damage, internal component failure, theft and loss protection, virus and data protection, and other supplementary digital services. Distribution channels include direct-to-consumer insurance, OEM and retail partner programs, telecom/carrier-bundled protection plans, and additional emerging channels such as online marketplaces and fintech-embedded insurance. Market growth has been influenced by rising smartphone value, increasing repair costs, expanding 5G device adoption, digital claims automation, embedded protection at the point of sale, sustainability-focused device lifecycle programs, and ongoing product and service innovations by insurers and third-party administrators.
Market Introduction
The global smartphone market has transitioned from rapid growth to scale expansion, with over 4.4 billion users representing approximately 54% of the world's population, which has bolstered the growth of the mobile phone insurance market. This saturation milestone fundamentally alters the competitive landscape for mobile device protection products. Developed markets demonstrate near-complete penetration with concentrated demand in upgrade cycles and premium attachments, while emerging regions, particularly South Asia, Africa, and Latin America, continue experiencing substantial user acquisition driven by affordable devices, improved connectivity, and accessible financing mechanisms. India exemplifies this trajectory, with accelerating penetration rates anticipated to approach developed-market levels within the coming years, unlocking significant policyholder pools. Moreover, regulatory initiatives promoting repairability and consumer "right-to-repair" advocacy are fundamentally restructuring claims economics. Insurers increasingly prioritize repair-first strategies through certified repair networks and same-day service delivery, substantially reducing average costs per claim. Concurrently, expanding refurbished device markets and manufacturer trade-in programs enable circular economy models that lower replacement inventory requirements while improving claim economics and environmental outcomes.
Industrial Impact
The expansion of the mobile phone insurance market is reshaping the broader digital and telecom ecosystem by turning devices into recurring-revenue platforms rather than one-time hardware sales. For insurers, the category provides a high-frequency, scalable retail protection business that accelerates product innovation in embedded, subscription, and micro-insurance models. For mobile network operators, OEMs, and retailers, device protection has become a strategic value-added service that supports customer retention, upselling, and differentiation in otherwise commoditized markets. The growth of insurance-backed trade-in, upgrade, and refurbishment programs is accelerating the development of a professionalized repair and recommerce industry, deepening partnerships with authorized service providers, logistics players, and parts distributors. As claims processes digitalize, the segment is also driving investments in diagnostics, fraud analytics, and automated adjudication, which spill over into other lines of consumer insurance. At the customer level, protection products influence purchasing behavior by de-risking ownership of higher-priced devices and supporting financing-led models. Collectively, these dynamics position mobile phone insurance as an important enabler of circular economy practices, ecosystem stickiness, and margin enhancement across insurance, telecom, retail, and electronics value chains.
Market Segmentation:
Segmentation 1: by Phone Type
Premium Smartphones to Lead the Market (by Phone Type)
The premium smartphones segment is expected to lead the global mobile phone insurance market by phone type. The rising adoption of premium smartphones, characterized by advanced features and higher price points, is driving a surge in insurance demand within the mobile phone sector. Consumers are increasingly seeking comprehensive protection against accidental damage, theft, and malfunction as device replacement costs escalate. This trend is further amplified by the expanding ecosystem of digital lifestyles, manufacturer partnerships, and the growing prevalence of installment-based smartphone ownership, making insurance coverage for high-end devices a pivotal market growth driver. As a result, premium smartphones are expected to dominate mobile phone insurance uptake, shaping product innovation and distribution strategies across the industry.
Segmentation 2: by Coverage Type
Physical Damage to Dominate the Mobile Phone Insurance Market (by Coverage Type)
Physical damage coverage events, such as accidental drops, screen cracks, and liquid spills, remain the leading driver in mobile phone insurance adoption. As devices become sleeker and more advanced, their susceptibility to breakage increases, heightening consumer concern over repair or replacement costs. This trend is strengthened by rising device usage in daily life, limited warranty coverage for such incidents, and growing consumer awareness of risk mitigation. Insurers are responding with customized policies and quick-claim processes, cementing physical damage insurance as the dominant segment shaping purchase decisions and competitive differentiation in the market.
Segmentation 3: by Distribution Channel
Telecom/Carrier-Bundled Insurance to Dominate the Mobile Phone Insurance Market (by Distribution Channel)
Telecom operators and mobile carriers are increasingly positioning bundled insurance offerings as a primary distribution channel, leveraging their direct customer relationships and billing infrastructure. This bundling strategy eliminates friction in the purchase process, enabling seamless enrollment during device activation or plan renewal cycles. Carriers benefit from enhanced customer retention and increased lifetime value, while consumers gain convenience and simplified claims management integrated into existing service platforms. The proliferation of 5G networks and premium device portfolios has incentivized carriers to expand insurance bundles as value-added services, positioning telecom-facilitated insurance as a dominant market segment that reshapes competitive dynamics and customer acquisition strategies across the industry.
Segmentation 4: by Region
Geographically, the mobile phone insurance market exhibits a dual-center dynamic, with the U.S. acting as the largest mature market and Asia-Pacific representing the primary long-term growth engine. The U.S. leads in absolute market size due to high penetration of premium and flagship smartphones, sophisticated carrier and retailer bundling practices, and strong consumer familiarity with extended warranties and device protection plans. Mobile operators, OEMs, and big-box retailers in the U.S. have institutionalized insurance as a standard attachment at the point of sale or within monthly service plans, supporting high average premiums and stable renewal rates. In contrast, Asia-Pacific is characterized by heterogeneous markets but collectively offers the highest structural upside. Expanding middle-income segments, urbanization, and a shift toward higher-value smartphones are increasing the perceived need for protection, especially as devices are frequently purchased via EMIs and digital financing platforms. The rapid growth of e-commerce and super-app ecosystems in markets such as China, India, and Southeast Asia also enables embedded and app-based distribution models at scale. While North America will continue to deliver strong revenue and profitability, incremental global market growth is expected to be dominated by Asia-Pacific as awareness deepens, distribution partnerships mature, and insurers tailor products to local price sensitivities and usage patterns.
Demand - Drivers, Limitations, and Opportunities
Market Demand Drivers: Widespread Smartphone Adoption
The rapid expansion of global smartphone ownership remains one of the most powerful drivers of the mobile phone insurance market. Smartphones have become ubiquitous across both mature and emerging economies, fundamentally enlarging the potential customer base for device protection products. According to GSMA, more than half of the world's population, approximately 4.4 billion people, now owns a smartphone, underscoring the scale at which new users continue to enter the ecosystem. Each additional smartphone owner represents a prospective policyholder, particularly as devices become more technologically advanced and significantly more expensive to repair or replace. Industry sources such as Insurance Asia highlight that accelerating smartphone penetration directly fuels demand for mobile phone insurance, particularly in markets undergoing rapid digital adoption. India serves as a strong example representing a surge in first-time smartphone users who are often more risk-averse with newly acquired high-value devices. Similar patterns are emerging across Southeast Asia, Africa, and Latin America, where economic growth, declining data costs, and broader network availability continue to push smartphone adoption upward. As smartphones transition from luxury devices to essential tools for communication, finance, education, and commerce, the perceived value of device protection increases. Consumers increasingly recognize the financial risks associated with accidental damage, theft, and hardware malfunction risks amplified by heavy daily usage. This shift in consumer behavior strengthens the insurance market's fundamentals, expanding both the addressable market and product uptake rates. Collectively, the global rise in smartphone ownership not only drives sustained demand for basic device protection but also opens avenues for more sophisticated insurance add-ons, extended warranties, and bundled service offerings.
Market Challenges: Low Insurance Penetration and Limited Awareness
Low insurance penetration in many regions, particularly in low- and middle-income countries, remains one of the most significant structural barriers to the growth of the mobile phone insurance market. Despite rising smartphone adoption, insurance as a financial tool is still unfamiliar to large portions of the global population. Nearly 90% of individuals in low-income countries do not have any form of private insurance, indicating a deep gap in financial inclusion and overall risk awareness. This disconnect means that millions of smartphone users, even those purchasing higher-value devices, do not explore or understand device-protection offerings simply because the concept of insurance has not been embedded into their financial habits. In countries such as Nigeria, insurance penetration stands at only around 0.5% of GDP, dramatically lower than in more mature markets like South Africa, where penetration exceeds 12%. This disparity reflects not only economic differences but also a pronounced lack of trust, exposure, and insurance literacy. Studies repeatedly show that consumers in emerging markets typically think about insurance only after suffering a loss, rather than proactively seeking protection. As a result, despite the growing cost of smartphones and the rising incidence of theft or accidental damage, insurance remains outside the consideration set for many potential buyers. Additionally, limited consumer education contributes to misconceptions regarding coverage, pricing, and claims processes. Many users are unaware that device insurance exists, assume it is expensive, or believe claims will not be honoured. This lack of awareness significantly constrains the mobile phone insurance addressable market. To overcome this barrier, insurers, mobile operators, and digital finance providers must invest in targeted awareness campaigns, embedded sales models, and simplified product messaging. Without improvements in financial literacy and trust, the market will continue to underperform its true potential despite rising device value and risk exposure.
Market Opportunities: Untapped Emerging Markets
Emerging markets represent one of the most significant long-term growth opportunities for the mobile phone insurance industry. Despite rapid digitalization and rising smartphone adoption, insurance penetration in these regions remains extremely low, creating a large pool of first-time customers who have yet to be reached. India is a prime example; with a smartphone user base of approximately 750 million today and projections indicating it will approach one billion users by 2026, the addressable market for device protection is vast. However, actual insurance uptake remains minimal, primarily due to limited awareness, affordability constraints, and fragmented distribution. As rural and low-income populations increasingly adopt smartphones, often through affordable financing schemes, the need for cost-effective protection solutions becomes more apparent. Similar patterns are emerging across Africa and Latin America, where mobile phones are essential tools for communication, banking, and commerce. These regions offer insurers first-mover advantages, especially where mobile network operators (MNOs) dominate consumer engagement and can seamlessly integrate insurance into prepaid and postpaid plans. Government initiatives promoting digital financial services in parts of Asia-Pacific, including China, India, and Japan, further support market expansion by driving consumer trust and adoption of digital insurance products. With broader economic development, rising disposable incomes, and increasing reliance on mobile devices for daily transactions, the demand for device protection will continue to strengthen. For insurers, the opportunity lies in designing localized, affordable, and easy-to-access coverage options that resonate with these diverse markets. Micro-premium models, embedded protection at the point of sale, and partnerships with telecom operators, retailers, and fintech platforms can accelerate adoption. Companies that strategically invest in these high-growth regions stand to capture substantial market share and build long-term customer relationships before competition intensifies. Ultimately, emerging markets represent the next frontier for global expansion and sustained revenue growth.
How can this report add value to an organization?
Product/Innovation Strategy: This segment explores the diverse coverage types of mobile phone insurance across phone types, including budget phones, mid-range phones, and premium smartphones. Automakers are focusing on several product innovation strategies. Product innovation in the mobile phone insurance market is accelerating across multiple dimensions, reshaping how protection is designed, distributed, and delivered. Insurers are transitioning from standardized extended warranties toward tiered, modular offerings that segment customers by device value, usage patterns, and willingness to pay. Micro-insurance and parametric products are gaining traction in price-sensitive emerging markets, while premium, OEM-certified subscriptions with express replacement and concierge services capture high-value customer segments. Technology-enabled innovation is redefining operational delivery. API-first embedded insurance platforms allow seamless integration at checkout, activation, or within billing cycles, dramatically improving attachment rates. Real-time IMEI verification, in-app diagnostics, and automated claims adjudication are now standard differentiators, reducing friction and enabling instant payouts.
Growth/Marketing Strategy: The mobile phone insurance market offers substantial opportunities for established players and new entrants. Key growth strategies include mergers and acquisitions, strategic collaborations, new product launches, and geographic expansion. Companies have prioritized developing innovative production technologies to gain a competitive advantage.
Competitive Strategy: The report profiles major players in the mobile phone insurance market, including technology providers and integrators. A detailed competitive landscape analysis covering strategic partnerships, agreements, and technological collaborations is provided to help stakeholders identify untapped revenue opportunities. This analysis supports market participants in enhancing their position through innovation, strategic alliances, and a focus on sustainability.
Research Methodology
Factors for Data Prediction and Modelling
Market Estimation and Forecast
This research study involves the usage of extensive secondary sources, such as certified publications, articles from recognized authors, white papers, annual reports of companies, directories, and major databases, to collect useful and effective information for an extensive, technical, market-oriented, and commercial study of the mobile phone insurance market.
The market engineering process involves the calculation of the market statistics, market size estimation, market forecast, market crackdown, and data triangulation (the methodology for such quantitative data processes has been explained in further sections). The primary research study has been undertaken to gather information and validate the market numbers for segmentation types and industry trends of the key players in the market.
Primary Research
The primary sources involve industry experts from the mobile phone insurance market and various stakeholders in the ecosystem. Respondents such as CEOs, vice presidents, marketing directors, and technology and innovation directors have been interviewed to obtain and verify both qualitative and quantitative aspects of this research study.
The key data points taken from primary sources include:
Secondary Research
This research study involves the usage of extensive secondary research, directories, company websites, and annual reports. It also makes use of databases, such as Hoovers, Bloomberg, Businessweek, and Factiva, to collect useful and effective information for an extensive, technical, market-oriented, and commercial study of the global market. In addition to the data sources, the study has been undertaken with the help of other data sources and websites, such as the GSMA, CIA, and BankMyCell.
Secondary research has been done to obtain crucial information about the industry's value chain, revenue models, the market's monetary chain, the total pool of key players, and the current and potential use cases and applications.
The key data points taken from secondary research include:
Key Market Players and Competition Synopsis
The companies that are profiled in the mobile phone insurance market have been selected based on inputs gathered from primary experts, who have analyzed company coverage, product portfolio, and market penetration.
Some of the prominent names in the mobile phone insurance market are:
Companies that are not a part of the aforementioned pool have been well represented across different sections of the mobile phone insurance market report (wherever applicable).
Scope and Definition