Mobile Handset Protection Market Size, Share, Growth, Development and Demand Forecast to 2030

Published Nov 2, 2022 

If there’s one device which is synonymous with the information age, it is a mobile phone. A valuable possession in today’s fast paced communication driven environment, the mobile phone has undoubtedly brought people and cultures together, bridged the gap between continents, and streamlined business communication and operations. According to the observations of the International Telecommunication Union (ITU), the mobile subscription rate across the world per 100 individuals was 109 in 2019.

As this device plays a major role in ensuring that people stay connected with their loved ones, businesses run smoothly and efficiently, and customer queries are handled quickly and effectively, it needs to be protected against various accidental and liquid damages. This is why the demand for mobile handset protection is surging sharply across the world. Additionally, people are quickly realizing the need, value, and importance of handset protection, which is further boosting the demand for mobile handset protection, thereby causing the growth of the global mobile handset protection market.

Moreover, with the rising demand for better mobile handset protection services, many major insurance companies are providing excellent repair and replacement services to customers. For instance, a handset insurance program provides smartphone replacement services to the consumers who have lost their smartphones. These kinds of protection programs ensure that the consumers get their smartphones back quickly, in case of malfunctioning, damage, or loss of their original devices. These services also include mobile security and data backup, which ensure that maintenance of service with minimal disruption is provided to the consumers.

Besides the growing penetration of smartphones, the soaring popularity of the bring-your-own-device (BYOD) policy and enterprise mobility is also propelling the use of smartphones in various business operations. This is another factor driving the demand for mobile handset protection services. Moreover, purchasing handset protection services is easier than buying replacement of smartphone. Furthermore, the growing usage of advanced mobile applications is causing a massive rise in the consumption of data on mobile devices. As a result, smartphones contain large amounts of data, which are usually confidential.

Additionally, as smartphones are majorly used for surfing the internet and conducting important transactions, there is a major threat of these devices getting exposed to harmful third-party applications and content, that might cause considerable damage. This is another factor driving the expansion of the mobile handset protection market. Geographically, the demand for mobile handset protection services will soar in North America in the forthcoming years, as per the estimates of the market research company, P&S Intelligence. As consumers in the U.S. depend heavily on their mobile network operators to solve their issues, the mobile handset protection services are being extensively adopted in the region.

Hence, it can be said without any hesitation that owing to the rising penetration of smartphones, increasing incidence of mobile phones breaking down, and growing public awareness about the importance of handset protection, the demand for mobile handset protection services will surge all over the world in the coming years.