SOURCE: iGR

iGR

March 05, 2015 06:00 ET

New iGR Study Forecasts Growing Mobile Device Insurance Market

Continued Growth in Sales of Smartphones Will Drive Insurance Market

AUSTIN, TX--(Marketwired - March 05, 2015) - As an increasing number of U.S. consumers purchase smartphones and tablets, they are becoming dependent on their advanced functionality, such as social networking, web browsing, email and messaging apps. In order to protect their investment and ensure the continued availability of these services, many U.S. consumers are choosing to purchase mobile device insurance.

Most major mobile operators offer insurance, backed by a separate insurance company, that covers loss, theft, accidental damage, and out of warranty defects. This insurance is offered for an additional monthly fee, typically between $5 and $11 per device per month, and it is generally available when the consumer purchases a smartphone, basic phone or tablet.

U.S. consumers see value in purchasing insurance to cover their mobile device for several reasons: smartphones can be damaged with everyday use, they are expensive to replace at retail cost, and most importantly, consumers are increasingly reliant on their smartphones and do not want to live without them. 

Through its primary research, iGR, a market research consultancy focused on the wireless and mobile industry, has uncovered many factors that help define which consumers are more likely to purchase mobile device insurance from their mobile operator. This data is detailed in their newest market study, U.S. Mobile Device Insurance Forecast, 2014-2019: A Market Driven by Smartphone Sales.

"By offering device insurance, mobile operators provide a valuable service to their subscribers," said Iain Gillott, president and founder of iGR. "Additionally, the monthly premiums the operators receive from the device protection plans contribute to a market that is growing in both the number of devices covered and the revenue generated."

iGR's new market study, U.S. Mobile Device Insurance Forecast, 2014-2019: A Market Driven by Smartphone Sales, provides an overview of the mobile device insurance market in the U.S., and U.S. consumers' adoption of insurance policies sold by their mobile service providers. The study includes emerging trends regarding the likelihood to purchase insurance according to many demographic variables. The consumer data in this report is based on a Web-based survey of over 1,100 U.S. consumers that iGR fielded during January 2015. 

The market study also includes a five-year forecast of the number of mobile devices (non-smartphones, smartphones, and tablets) sold with insurance and the total revenues of the mobile device insurance market.

The following key questions are addressed in the new research study:

  • What is the forecasted size of the mobile device insurance market from 2014 until 2019?
  • What is the average price of device insurance provided by mobile operators and what is included in different operators' protection plans?
  • What revenues are generated from mobile insurance device insurance sold through mobile operator channels, from 2014 to 2019?
  • What percentage of subscribers have recently purchased damage, theft and loss insurance through their mobile operators and how do these percentages differ according to the respondents' demographic variables, types of mobile device, mobile service providers and typical device usage?
  • What percentage of subscribers plan to purchase damage, theft and loss insurance through their mobile operators and how do these percentages differ according to the respondents' demographic variables, types of mobile device, mobile service providers and typical device usage?
  • How many subscribers have returned a damaged device?
  • Who did subscribers contact when they had an issue with their device?
  • How many subscribers have lost (including through theft) a mobile device?

The information in this market study will be valuable for:

  • Insurance companies offering mobile device insurance services
  • Mobile operators
  • Mobile device distributors
  • Device OEMs
  • Financial analysts and investors.

The new report can be purchased and downloaded directly from iGR's website at www.iGR-inc.com. Alternatively, contact Iain Gillott at (512) 263-5682 or at Iain@iGR-inc.com for additional details.

About iGR
iGR is a market strategy consultancy focused on the wireless and mobile communications industry. Founded by Iain Gillott, one of the wireless industry's leading analysts, in late 2000 as iGillottResearch, iGR is now entering its fifteenth year of operation. iGR continuously researches emerging and existent technologies, technology industries, and consumer markets. We use our detailed research to offer a range of services to help companies improve their position in the marketplace, clearly define their future direction, and ultimately improve their bottom line.

iGR researches a range of wireless and mobile products and technologies, including: smartphones; tablets; mobile wearable devices; connected cars; mobile applications; bandwidth demand and use; small cell and het-net architectures; mobile EPC and RAN virtualization; DAS; LTE; VoLTE; IMS; NFC; GSM/GPRS/UMTS/HSPA; CDMA 1x/EV-DO; iDEN; SIP; macro-, pico- and femtocells; mobile backhaul; WiFi and WiFi offload; and SIM and UICC.

A more complete profile of the company can be found at www.igr-inc.com.

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