Europe Electronic Gadgets Insurance Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Electronic Gadgets Insurance Market Analysis
During the COVID-19 pandemic, people were forced to stay indoors and ordered to finish all of their office work online due to lockdown limitations. Firms were restructured to allow employees to work from home. Schools, the working class, and students were all taught online, leading them to purchase advanced equipment like laptops, mobile devices, and tablets to increase the quality of their experience and support market development.
The market in Europe is expected to develop due to an increase in the use of gadget insurance among students to protect their devices from various situations and an increase in demand for various types of gadgets among the general population. Furthermore, the industry is being propelled forward by increasing digitization worldwide. On the other hand, new entrants in the industry offer reduced premium rates to clients are impeding the sector's growth. On the other hand, the surge in demand to cover gadgets and devices, seen as an opportunity for the gadget insurance market because most of them are extremely costly and cannot be replaced if broken or lost, is seen as a threat to the gadget insurance industry.
Europe Electronic Gadgets Insurance Market Trends
This section covers the major market trends shaping the Europe Electronic Gadgets Insurance Market according to our research experts:
Europe's Digitization and Technological Advancement is Increasing
Technology has been causing industry-wide changes, allowing businesses in various industries to develop enormously in Europe. Almost every industry has gone digital, with just a few industries left to nce the present pandemic has confined people to their homes; there has been a greater demand than ever for virtually every business to be digitalized. The need to digitalize sectors will increase demand for various gadgets, and with that demand will come the requirement to insure them, fueling market expansion. As a result, the rising need to digitize every business will drive up demand for gadgets while also propelling the Europe electronic device insurance market ahead.
Urbanization Booming the Sector
Urbanization hurts one's health. Migration was unrestricted throughout the Industrial Revolution, and cities were filthy, congested places where illnesses were common. In heavily populated metropolitan settings, diseases spread considerably faster. City dwellers' health indicators were substantially poorer than those of rural dwellers at the time. Spectacular improvements in medicine and public health service using the latest technology and gadgets have helped industrialized countries conquer many infectious illnesses in cities, and death rates for city dwellers are substantially lower than for rural dwellers. Infectious illness, however, continues to be a threat. People are also becoming more conscious about their health and safety and rely on technology to monitor their health. As a result, all of these factors contribute to Europe's expansion. The market for electronic gadgets insurance
Europe Electronic Gadgets Insurance Industry Overview
The report covers major players operating in the Europe Electronic Gadgets Insurance Market, their product portfolio, key financials, and developments. The market is transforming with many technological advancements through product innovation and process automation. The key market players are focusing on improving their production capacity, which will help them to increase exports.
Europe Electronic Gadgets Insurance Market Leaders
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Allianz Insurance
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AXA
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Aviva
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Asurion, LLC
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Assurant, Inc.
*Disclaimer: Major Players sorted in no particular order
Europe Electronic Gadgets Insurance Market News
- In April 2022, Aviva, one of the UK's leading insurers, partnered with Tractable to use artificial intelligence to enhance the accuracy and efficiency of UK insurance claims (AI).
- In March 2021, TRYGLE Co. Ltd. ("TRYGLE"), a prominent software development firm, was acquired by Assurant, Inc., a leading global supplier of lifestyle and housing solutions that support, safeguard, and link important consumer purchases. Assurant's potential to offer more service options and technological solutions to assist clients in staying connected and optimize their usage of mobile devices, electronics, and home appliances in everyday life will be accelerated due to the acquisition.
Europe Electronic Gadgets Insurance Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Insights on Various Regulatory Trends
4.5 Insights on impact of technology and innovation
4.6 Industry Attractiveness - Porters' Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Coverage Type
5.1.1 Physical Damage
5.1.2 Electronic Damage
5.1.3 Data Protection
5.1.4 Virus Protection
5.1.5 Theft Protection
5.2 By Device Type
5.2.1 Laptops
5.2.2 Computers
5.2.3 Cameras
5.2.4 Mobile Devices
5.2.5 Tablets
5.3 By End Users
5.3.1 Corporate
5.3.2 Individual
5.4 By Geography
5.4.1 Italy
5.4.2 France
5.4.3 Germany
5.4.4 Rest of Europe
6. COMPETITIVE LANDSCAPE
6.1 Market Concetration Overview
6.2 Company Profiles
6.2.1 Allianz Insurance
6.2.2 AXA
6.2.3 Aviva
6.2.4 Asurion, LLC
6.2.5 Assurant, Inc.
6.2.6 Better Buy Insurance
6.2.7 Acumen Insurance Services Ltd
6.2.8 Pier Insurance Managed Services Limited
6.2.9 EE Insurance
6.2.10 ROCK Insurance Services Limited*
- *List Not Exhaustive
7. MARKET OPPORTUNTIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Europe Electronic Gadgets Insurance Industry Segmentation
Electronic gadget insurance covers all accidents, such as accidental damage, liquid or water damage, theft, burglary, and fire damage to a range of equipment. Cell phones, laptops, digital cameras, PCs, and other electronic gadgets are all covered under this policy. Furthermore, when a customer's device is stolen, damaged, or lost, insurance companies compensate them. However, the amount varies depending on the policy. Europe Electronic Gadgets Insurance Market segmented by Coverage Type (Physical Damage, Electronic Damage, Data Protection, Virus Protection, and Theft Protection), Device Type (Laptops, Computers, Cameras, Mobile Devices, and Tablets), and End User (Corporate and Individual), Geography (Italy, France, Germany, Rest of Europe).
| By Coverage Type | |
| Physical Damage | |
| Electronic Damage | |
| Data Protection | |
| Virus Protection | |
| Theft Protection |
| By Device Type | |
| Laptops | |
| Computers | |
| Cameras | |
| Mobile Devices | |
| Tablets |
| By End Users | |
| Corporate | |
| Individual |
| By Geography | |
| Italy | |
| France | |
| Germany | |
| Rest of Europe |
Europe Electronic Gadgets Insurance Market Research FAQs
What is the current Europe Electronic Gadgets Insurance Market size?
The Europe Electronic Gadgets Insurance Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Europe Electronic Gadgets Insurance Market?
Allianz Insurance, AXA, Aviva, Asurion, LLC and Assurant, Inc. are the major companies operating in the Europe Electronic Gadgets Insurance Market.
What years does this Europe Electronic Gadgets Insurance Market cover?
The report covers the Europe Electronic Gadgets Insurance Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Europe Electronic Gadgets Insurance Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Electronic Gadgets Insurance Industry Report
Statistics for the 2024 Europe Electronic Gadgets Insurance market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Electronic Gadgets Insurance analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
