Asia-Pacific Mobile Insurance Market (2016-2023) - Research Nester

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Asia-Pacific Mobile Insurance Market Outlook
Industry Insights Opportunity Evaluation,
2016-2023
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Entering New Emerging Markets Launch Viability
of Product Competitive Analysis Industry
Analysis
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Asia-Pacific Mobile Insurance Market Overview
With the increasing prevalence of expensive
household goods, cars and consumer electronics,
insurance has become an unavoidable and often
necessary cost in modern life. Most insurance
specialists and even banks now offer insurance
plans that cover theft, loss, malfunctions and
damage of mobile phones. Many policies now also
integrate enhanced technical support and
additional protection features such as data
backup facilities, allowing users to securely
backup their phone data online. Mobile phones and
smartphones in particular are also included in
this. Asia Pacific mobile insurance market has
grown at a rapid pace over the past few years and
is anticipated to expand at a robust CAGR
throughout the forecast period. Market Size and
Forecast The global mobile insurance market was
valued at USD 15.8 Billion in 2016 and is
expected to reach to USD 17.6 Billion by the end
of year 2019. The market is further expected to
expand at a robust CAGR of around 12 over the
period 2016-2023. With such a significant
growth, Asia Pacific region will be the largest
region for the mobile phone insurance market.
India and China are very potential regions for
this market owing to high population in the APAC
region.
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Market Segmentation
Our in depth analysis of the segmented on the
following basis
Asia
Pacific
insurance
market is
By Risk Covered Accidental Damage
Physical/Liquid Damage Theft Damage due to fire
Theft protection Unfortunate Accident
Unauthorized calls Stolen By Region
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India China Japan Singapore South Korea
Australia New Zealand Rest of Asia
Pacific Growth Drivers and Challenges The
growth of Asia-Pacific mobile insurance market
will be driven by the social media websites
which will provide the effective platform to
broaden the communication and marketing channels
that are needed for launching new products and
services. As a result, insurance providers will
develop and deploy effective social media
strategies in order to collect customer
feedback, resolve queries in real-time, and
provide product updates. Further, as the number
of the consumers purchasing the insurance is
increasing, Asia Pacific will present
significant opportunities to the insurers
resulting in the growth of the Asia Pacific
mobile insurance market. Moreover, the market has
also expanded due to the increase in the number
of the mobile phones being purchased by the
consumers and subsequently the rate at which
they are purchased with warranties or extended
warranties. Since Asia- Pacific is a region
consists of the different countries, the rate of
economic development and insurance penetration
vary on a market to market basis. Mature
markets, for example are more saturated which
act as a restraint to the mobile insurance market.
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Key players HL Assurance Company Overview Key
Product Offerings Business Strategy SWOT
Analysis Financials SoftBank NTT DoCoMo Syska
Gadget Secure AppsDaily SyncNScan New India
Insurance Vodafone Australia Optus Virgin Mobile
Australia Scope and Context Overview of the
Parent Market Analyst View
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Segmentation The Asia Pacific insurance market is
segmented as follows By Region India China Japa
n Singapore South Korea Australia New
Zealand Rest of Asia Pacific Market
Dynamics Supply and Demand Risk Competitive
Landscape Porters Five Force Model Geographical
Economic Activity
Key Players (respective SWOT Product Portfolio
Analysis) and their Strategies and
Recent Trends and Developments
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Industry Growth Drivers and Challenges Key Inform
ation for Players to establish themselves in curre
nt dynamic environment To know more about
Asia-Pacific Mobile Insurance Market research,
please visit http//www.researchnester.com/repor
ts/asia-pacific-mobile-insurance-
market-global-demand-analysis-opportunity-outlook-
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