AUSTIN, TX--(Marketwired - May 7, 2013) - As an increasing number of U.S. consumers purchase smartphones, as opposed to basic mobile handsets, they are becoming dependent on their advanced functionality, such as email, social networking, and web browsing. In order to protect their investment and ensure the continued availability of these services, more and more U.S. consumers are choosing to purchase insurance.
Most major cellular service providers offer insurance that covers loss, theft, accidental damage, and out of warranty malfunctions. This insurance is offered for an additional monthly fee, typically between $5 and $8 per device per month. Last year, in iGR's May 2012 survey of U.S. consumers, iGR found that 27 percent of the respondents had mobile device insurance on their mobile phone. Since that time, iGR has been tracking the purchase of insurance on mobile phones and has found that more consumers are purchasing insurance when they buy a new mobile phone.
"One of the primary reasons for the increased insurance sales is that U.S. consumers are buying more smartphones than basic phones," said Iain Gillott, president and founder of iGR, a market research consultancy focused on the wireless and mobile industry. "Because smartphones are known for having more problems than basic phones, especially with the screen, more consumers are seeing the value of insurance and are willing to spend an extra amount for it each month."
iGR's new market research report, U.S. Mobile Device Insurance Forecast, 2012 - 2017: A Market Driven by Smartphone Sales, provides an overview of U.S. consumers' adoption of insurance policies sold by their wireless/cellular service providers, including emerging trends regarding the likelihood to purchase insurance and how demographic variables relate to this likelihood to purchase insurance. The report also includes a 5-year forecast of the number of mobile phones 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 now until 2017?
- What trends are emerging regarding consumers' purchase of device insurance?
- What percentage of subscribers have recently purchased damage, theft and loss insurance through the mobile operators?
- What is the average price of device insurance, by cellular carrier?
- What is the tendency by type of mobile phone, primary use of phone, and the respondents' gender, marital status, and geographic region to purchase device insurance?
- How do the operating system and the brand of planned smartphone purchases relate to U.S. consumers' plans to purchase mobile device insurance?
The information in this report will be valuable for:
- Insurance companies offering mobile device insurance services
- Mobile operators
- 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.
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 thirteenth 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 applications; bandwidth demand and use; small cell architectures; 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.