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Europe Mobile Insurance Market Size 2021 On Going Trends, Business Opportunity, Share, Growth Strategy and Future Forecast 2030

In a recent published report, Kenneth Research has updated the market report for Europe Mobile Insurance Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Europe Mobile Insurance Market products.

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The Report Title Europe Mobile Insurance Market has been added by Kenneth Research, provides detailed insights of the market scenario which is further classified on the basis of market size and market volume, along with the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2021-2024.

The rising number of the mobile subscribers and the growth in the number of the customers purchasing the expensive mobile phones has led to the growth in the mobile insurance market. The mobile insurance refers to the protection from various risks including the risks from theft, malfunction and damage. Further, with the rising penetration of internet the customers are also purchasing the mobile phones through the internet.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

As a result, various companies such as Amazon US and Google have started providing mobile insurance along with the purchase of the mobile, especially the smartphones. The growth is driven by the increasing reliance on the smartphones and tablets for the business use. Further, the growth is driven by the feeling of security among the customers that is the accidental damage will be compensated if they have opted for the insurance policy. Another driving force behind the growth of the mobile insurance market is the flexibility allowed to the customers while opting for the plan.

Market Size and Forecast

However, with the growth of the Europe mobile market, there are some challenges too. The new entrants in the market will shake the other players prevailing in the market. Further, there might be cut in the costs as the existing players will try to retain themselves in the competitive landscape and try to block the entry of the new entrants. Europe mobile phone insurance market was valued at $10.2 billion in revenue in 2016 and expected to expand at a CAGR of 12.5% during 2016-2023.

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“Final Report will add the analysis of the impact of COVID-19 on this industry.”

The growth of the market will be fueled by the major players operating in the competitive environment that will provide a range of innovative payments, loyalty and services such as the digital wallets. Likewise, the top players operating in the market will try to provide engagement services to the customers by creating opportunities through employment of the different smartphone brands. Moreover, sense of being protected from the various risks will increase the market size of the global insurance market. Also the internet penetration through the use of the mobile wallets will help to bridge the gap between retail environment and e-commerce market. As a result, the different vendors will be attracted to the market leading to growth of the insurance market.

Leading Key Players of Global Market:

Insurance2go, Better Buy Insurance, Tinhat, Row, Love it Cover it, Protect your Bubble, Gadget Cover, Switched on Insurance, O2 Mobile Insurance, Swisscom, Salt, Sunrise and other key players.

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Growth Drivers and Challenges

Moreover, the increase in the mobile insurance market will be driven by the innovative coverage policies and schemes. The various value added services provided at the retail stores such as discount provided by the retailers will be offered to the customers as a combination along with providing the mobile insurance. This will led the push in the global mobile insurance market with a positive impact on the Europe mobile insurance market. Further, the mobile insurance market will expand as the OEMs will collaborate with the local insurance markets to cater to the new needs of the market, thus positively creating an impact on the European mobile insurance market. As a result both Eastern and the Western Europe will emerge as the new markets for safeguarding their mobiles from the risks.

Download Sample of This Strategic Report-:
https://www.kennethresearch.com/sample-request-10075414

About Kenneth Research:

Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.

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