Global Gadget Insurance Market Overview:
Gadget insurance covers all kinds of gadgets such as phones, tablets, laptops, digital cameras, game consoles, MP3 Players, e-readers, digital recorders, smartwatches, and various other handheld devices. This insurance policy protects against loss, theft, accidental damage, and any other mechanical failure. As people are using more gadgets around the world, the insurance for gadgets market is rising and it can be used by individuals as well as businesses. Some of the players profiled in the study are Gadget Cover (United Kingdom), Helpucover (United Kingdom), CoverCloud (United Kingdom), InsureandGo (United Kingdom), Loveit Coverit (United Kingdom), Ripe Insurance (United Kingdom) and Tinhat (United Kingdom).
On the basis of geography, the market of Gadget Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Gadgets, the sub-segment i.e. Smartphones will boost the Gadget Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution, the sub-segment i.e. Online will boost the Gadget Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Coverage, the sub-segment i.e. Theft will boost the Gadget Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Need for Insuring the Gadgets and Devices
- Demand for Various Types of Gadgets
- Increasing Consumption of Gadget Insurance Among Students
- Stringent Regulatory Guidelines on Gadget Insurance Market
- The Prevalence of Phablet Gadgets will Boost the Gadget Insurance Market
- New Entrants in the Gadget Insurance Market with Low Premium Rates
Key Market Developments:
On 17th June 2020, loveit coverit has become a leading name in the mobile phone insurance market, offering flexible plans for customers, including the ‘Essential’ package, which covers theft and accidental damage, and the ‘Premium’ package, which includes loss protection – all with the breakdown and worldwide cover included. From June 2020, the mobile phone insurance company will be extending its gadget insurance offering.
"The Central Bank expects all insurers to issue an annual statement reminding consumers that the gadget insurance product remains in force, setting out the total cost of the insurance for the next 12 months, highlighting the key features and exclusions of the policy, details of how to make a claim, and providing consumers with relevant contact details should they wish to cancel or discuss any aspect of the policy. Insurers should exclude from the target market for the gadget insurance product consumers who hold an existing insurance product that covers the gadget being purchased. This information should be sought at the point of sale when assessing the suitability of the gadget insurance product for the consumer."
Gadget Insurance Providers, Gadget Insurance Industry Association, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Gadget Insurance market on the basis of product  , application [Individual and Business], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Gadget Insurance market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Gadget Insurance industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are .
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Gadget Insurance market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.