Mobile Phone Insurance Market is estimated to be valued at USD 37.63 Bn in 2025 and is expected to reach USD 80.62 Bn by 2032, growing at a compound annual growth rate (CAGR) of 11.5% from 2025 to 2032.
Report Coverage
Report Details
Base Year:
2024
Market Size in 2025:
USD 37.63 Bn
Historical Data for:
2020 To 2024
Forecast Period:
2025 To 2032
Forecast Period 2025 to 2032 CAGR:
11.50%
2032 Value Projection:
USD 80.62 Bn
The market is evolving rapidly within the insurance industry because of the high adoption of smartphones and the increasing value of mobile devices globally. Mobile phone insurance offers protection against different types of risks, including accidental damage, theft, loss, liquid damage, and mechanical breakdown. The market encompasses diverse coverage models ranging from manufacturer warranties and extended service plans to comprehensive third-party insurance policies provided by specialized insurers, telecommunications carriers, and retail partners.
Market Dynamics
A big driver for the market is the escalating cost of premium smartphones, with flagship devices often exceeding USD 1,000. The rates of accidental damage, theft, and loss have increased a lot, creating awareness for comprehensive protection. This makes replacement costs very expensive for average consumers, making demand for protective coverage. Also, mobile devices are seeing a lot of adoption across all demographics. The expanding ecosystem of mobile applications for banking, shopping, and business operations has turned mobile devices into essential tools that need reliable insurance coverage. However, cost-conscious consumers may hesitate to pay additional monthly premiums. Also, alternative protection methods, such as durable phone cases and screen protectors, can limit insurance demand. Apart from this, the rapid adoption of 5G technology and foldable smartphones, which create the need for premium prices and specialized coverage, will open up opportunities for market players to explore.
Key Features of the Study
This report provides an in-depth analysis of the global mobile phone insurance market, and provides market size (USD Billion) and compound annual growth rate (CAGR%) for the forecast period (2025-2032), considering 2024 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global mobile phone insurance market based on the following parameters: company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include Apple Inc., Asurion (Asurion, LLC), Assurant, Inc., AT&T Intellectual Property (AT&T Inc.), Allianz SE, AIG (American International Group), AmTrust Financial, Brightstar Corp., GoCare Warranty Group, SquareTrade, Inc. (Allstate), Taurus Insurance Services, Verizon Communications, Vodafone Group, Chubb Limited, and AXA Group
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
The global mobile phone insurance market report caters to various stakeholders in this industry, including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global mobile phone insurance market.
Market Segmentation
Coverage Insights (Revenue, USD Bn, 2020 - 2032)
Physical Damage
Theft & Loss
Mechanical Failure
Liquid Damage
Distribution Channel Insights (Revenue, USD Bn, 2020 - 2032)
Mobile Operators
Online Platforms
Retailers
Insurance Companies
Regional Insights (Revenue, USD Bn, 2020 - 2032)
North America
U.S.
Canada
Latin America
Brazil
Argentina
Mexico
Rest of Latin America
Europe
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
GCC Countries
Israel
Rest of Middle East
Africa
South Africa
North Africa
Central Africa
Key Players Insights
Apple Inc.
Asurion (Asurion, LLC)
Assurant, Inc.
AT&T Intellectual Property (AT&T Inc.)
Allianz SE
AIG (American International Group)
AmTrust Financial
Brightstar Corp.
GoCare Warranty Group
SquareTrade, Inc. (Allstate)
Taurus Insurance Services
Verizon Communications
Vodafone Group
Chubb Limited
AXA Group
Table of Contents
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Global Mobile Phone Insurance Market, By Coverage
Global Mobile Phone Insurance Market, By Distribution Channel
Global Mobile Phone Insurance Market, By Region
3. Market Dynamics, Regulations, And Trends Analysis
Market Dynamics
Impact Analysis
Key Highlights
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER's Analysis
Market Opportunities
Regulatory Scenario
Key Developments
Industry Trends
4. Global Mobile Phone Insurance Market, By Coverage, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Physical Damage
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Theft & Loss
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Mechanical Failure
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Liquid Damage
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
5. Global Mobile Phone Insurance Market, By Distribution Channel, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Mobile Operators
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Online Platforms
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Retailers
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Insurance Companies
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
6. Global Mobile Phone Insurance Market, By Region, 2020 - 2032, Value (USD Bn)