How big is the Mobile Phone Insurance Market | Size, Share & Growth Insights 2025

Q: How big is the mobile phone insurance market size?

The mobile phone insurance market is projected to reach USD 50 billion by 2031.

Q: What is the CAGR of the mobile phone insurance market?

The mobile phone insurance market is expected to grow at a CAGR of 5.20% from 2025 to 2031.

Q: Who offers mobile phone insurance?

Insurance providers, telecom operators, OEMs, retailers, and fintech platforms offer mobile phone insurance.

Q: What regions are witnessing high mobile insurance adoption?

North America, Western Europe, and fast-growing markets in Asia-Pacific are key regions of adoption.

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6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

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Code: MTA7565

Publication Date: Aug 2025

How big is the mobile phone insurance market?

According to 6Wresearch internal database and industry insights, the Global Mobile Phone Insurance Market was valued at USD 35 Billion in 2024 and is expected to reach USD 50 Billion by 2031, growing at a compound annual growth rate of 5.20% during the forecast period (2025-2031).

Price increases for smartphones, growing consumer awareness of protection services, and the practice of bundling insurance with device sales are the main drivers of the expansion. Additionally, telecom operators, OEMs, and digital channels are offering flexible and reasonably priced coverage plans, which is increasing market penetration internationally.

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Growth Factors for Mobile Phone Insurance Market

An increase in phone loss, theft, and unintentional damage
Worldwide sales of high-end and premium smartphones are rising.
Insurance packages that are combined by retailers and mobile carriers
Consumer knowledge of device protection plans is rising.
Growth of online insurance marketplaces and simple claim resolution
arrival of fintech firms providing cutting-edge microinsurance solutions

Mobile Phone Insurance Market Trends

The Mobile Phone Insurance Market is witnessing a shift towards customizable insurance plans based on user behavior and phone usage patterns. Providers are leveraging AI-based claim processing to reduce fraud and speed up approvals. In-app claim filing and real-time support are improving customer experience. Refurbished device coverage and extended warranty plans are becoming more popular. Enterprise adoption is also being fueled by Device-as-a-Service (DaaS) models that include insurance.

Emerging Developments in the Mobile Phone Insurance Market

Emerging developments in the Mobile Phone Insurance Market are launching subscription-based insurance with no lock-in periods. E-commerce platforms and insurance companies are integrating to offer real-time protection at the point of sale. Some are including cyber protection and international coverage in their bundles of mobile insurance. Blockchain is being investigated to improve policy management transparency. Furthermore, gamified insurance schemes that offer incentives for low-risk conduct are starting to appear.

List of Leading Companies in the Mobile Phone Insurance Market

Below is a comprehensive list of the leading market players driving growth in this sector:

1. Asurion, LLC

Company Name	Asurion, LLC
Established Year	1994
Headquarters	Tennessee, United States
Official Website	*Click Here*

Asurion, LLC offers device protection plans internationally and partners with telecom operators and retailers to provide smartphone insurance.

2. Likewize

Company Name	Likewize
Established Year	1993
Headquarters	Texas, United States
Official Website	*Click Here*

Likewize provides end-to-end protection and repair solutions for smartphones through insurance, trade-in, and tech support services.

3. Apple Inc. (AppleCare+)

Company Name	Apple Inc. (AppleCare+)
Established Year	1976
Headquarters	California, United States
Official Website	*Click Here*

Apple Inc. offers extended warranty and damage protection plans under the AppleCare+ brand for its devices worldwide.

4. AT&T Inc.

Company Name	AT&T Inc.
Established Year	1983
Headquarters	Texas, United States
Official Website	*Click Here*

AT&T Inc. provides wireless device insurance as part of its mobile plans in partnership with insurance providers like Asurion.

5. Samsung Electronics Co., Ltd. (Samsung Care+)

Company Name	Samsung Electronics Co., Ltd. (Samsung Care+)
Established Year	1969
Headquarters	Suwon, South Korea
Official Website	*Click Here*

Samsung Electronics offers its own branded mobile phone insurance covering accidental damage and extended warranties.

6. Bolttech

Company Name	Bolttech
Established Year	2020
Headquarters	Singapore
Official Website	*Click Here*

Bolttech enables digital mobile insurance distribution through embedded partnerships with telecoms and OEMs across regions.

7. Brightstar Corp.

Company Name	Brightstar Corp.
Established Year	1997
Headquarters	Florida, United States
Official Website	*Click Here*

Brightstar Corp. delivers mobile device lifecycle services, including insurance, trade-in, and repair programs, partnering with carriers and retailers to offer customized protection plans worldwide.