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Artificial Intelligence

Mobile Phone Insurance Global Market Report 2023: Surge in Adoption of High-Quality Smartphones Across the Globe Boosts Sector

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Dublin, May 17, 2023 (GLOBE NEWSWIRE) — The “Mobile Phone Insurance Market by Phone Type, Sales Channel, Coverage, and End User: Global Opportunity Analysis and Industry Forecast 2023-2030” report has been added to ResearchAndMarkets.com’s offering.

Mobile Phone Insurance market size was valued at USD 31.55 billion in 2022, and is predicted to reach USD 75.13 billion by 2030, with a CAGR of 11.7% during the forecast period, 2023 to 2030.

Growth in incidents of damages involving unintentional handling damage and loss protection, along with surge in cases of phone thefts across the globe propel growth of the mobile phone insurance market.

However, high cost of premium packages restrains growth of the market. On the contrary, growing advancements in technologies in mobile insurance such as artificial intelligence, machine learning, and deep learning technology creates an ample growth opportunity for the market.

Segment Overview

  • The global mobile phone insurance market is segmented on the basis of phone type, sales channel, coverage, end user, and region.
  • By phone type, the market is classified into budget phones, mid & high-end phones, and premium smartphones.
  • By sales channel, the market is segmented into mobile operators, device OEMs and retailers, and others.
  • By coverage, the market is categorized into physical damage, internal component failure, theft & loss protection, virus & data protection, and others.
  • By end user, the market is divided into business and individuals.
  • Region wise, the market is segmented into North America, Europe, Asia-Pacific, and RoW.

Regional Analysis

Asia-Pacific is expected to hold a dominant share of the market by 2030

Increase in use of high premium smartphones, owing to rise in disposable income of people and presence of local mobile phone manufactures including Realme, Vivo, and Oppo in China that provide insurance while buying cell phones boost growth of the market.

In addition, increase in partnerships between mobile phone companies and service providers of MPI to deliver protection against all forms of damages including accidental damage, mobile theft, and virus and data protection drives the market growth.

For instance, in October 2020, Bolttech announced its partnership with Samsung in Thailand. Through this partnership boltech provides mobile device repair services to owners of Samsung Galaxy smartphones and tablets through the Samsung Care+ programme

Key Market Players

Emerging and efficient key players in mobile phone insurance research include companies such as:

  • Apple Inc.
  • American International Group Inc
  • Assurant Inc
  • Asurion Group Inc
  • CHUBB
  • Boltech
  • Singtel
  • Amtrust Financial Services
  • Securranty Assurance for TomorrowS
  • Square Trade Inc

Recent Developments

October 2022

Apple Inc launched AppleCare+ that provides warranty of one year and 90 days of technical support with the option to purchase plans for longer service periods

September 2022

Assurant Inc launched a multiyear extension of its long-standing partnership with T-Mobile to continue providing comprehensive mobile device protection solutions.

KEY BENEFITS

  • The report provides quantitative analysis and estimations of the mobile phone insurance market from 2023 to 2030, which assists in identifying the prevailing market opportunities.
  • The study comprises a deep dive analysis of the mobile phone insurance market including the current and future trends to depict prevalent investment pockets in the market.
  • Information related to key drivers, restraints, and opportunities and their impact on the mobile phone insurance market is provided in the report.
  • Competitive analysis of the players, along with their market share is provided in the report.
  • SWOT analysis and Porters Five Forces model is elaborated in the study.
  • Value chain analysis in the market study provides a clear picture of roles of stakeholders.

Key Topics Covered:

1. Introduction

2. Mobile Phone Insurance Market- Executive Summary

3. Market Overview
3.1. Market Definition and Scope
3.2. Market Dynamics
3.2.1 Drivers
3.2.1.1 Surge in Adoption of High-Quality Smartphones Across the Globe
3.2.1.2 Rising Incidents of Accidental Damage and Phone Thefts Across the World
3.2.1.3 Rising Initiatives by Various Mobile Insurance Companies
3.2.2 Restraints
3.2.2.1 High Premium Packages
3.2.3 Opportunities
3.2.3.1 Introduction of Artificial Intelligence (Ai) in Insurance Companies

4. Market Share Analysis
4.1. Market Share Analysis of Top Mobile Phone Insurance, 2021

5. Global Mobile Phone Insurance Market, by Phone Type
5.1. Overview
5.2. Budget Phones
5.2.1 Budget Phones Market, by Region
5.3. Mid & High-End Phones
5.3.1 Mid & High-End Phones Market, by Region
5.4. Premium Smartphones
5.4.1 Premium Smartphones Market, by Region

6. Global Mobile Phone Insurance Market, by Sales Channel
6.1. Overview
6.2. Mobile Operators
6.2.1 Mobile Operators Market, by Region
6.3. Device Oems
6.3.1 Device Oems Market, by Region
6.4. Retailers & Others
6.4.1 Retailers & Others Market, by Region

7. Global Mobile Phone Insurance Market, by Coverage Type
7.1. Overview
7.2. Physical Damage
7.2.1 Physical Damage Market, by Region
7.3. Internal Component Failure
7.3.1 Internal Component Failure Market, by Region
7.4. Theft & Loss Protection
7.4.1 Theft & Loss Protection Market, by Region
7.5. Virus & Data Protection
7.5.1 Virus & Data Protection Market, by Region
7.6. Others
7.6.1 Others Market, by Region

8. Global Mobile Phone Insurance Market, by End-User
8.1. Overview
8.2. Businesses
8.2.1 Businesses Market, by Region
8.3. Individuals
8.3.1 Individuals Market, by Region

9. Global Mobile Phone Insurance Market, by Region

10. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/jmnjt8

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.


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Artificial Intelligence

Stamus Networks Participates in NATO CCDCOE Locked Shields Exercise

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Leading network-based threat detection and response company part of international contingent lending personnel and technology to support world’s largest live-fire cyber defense exercise
TALLINN, Estonia, April 24, 2024 /PRNewswire/ — Stamus Networks, a global provider of high-performance network-based threat detection and response (NDR) systems, today announced its participation in Exercise Locked Shields, the largest and most complex international live-fire cyber defense exercise in the world. The annual event, which takes place this week, is organized by the NATO Cooperative Cyber Defence Centre of Excellence (CCDCOE) and aims to provide a multinational platform for enhancing partners’ cyber resilience and cooperation capabilities in a high-paced, crisis-like environment.

The exercise pits Red Teams (attackers) against Blue Teams (defenders), utilizing realistic scenarios, cutting-edge technologies, complex networks and diverse attack methods. Teams of civil and military experts must cooperate to defend critical infrastructure systems from cyberattacks.
“This exercise is a demonstration of the power of international cooperation, transcending borders, and uniting a diverse community of experts from the public and private sectors and academia,” said LtC Urmet Tomp, exercise director at NATO CCDCOE. “We are grateful for the dedication and expertise of our allies and all our partners, which are crucial in building a resilient global cyber defense.”
Since 2016, the Stamus Networks team has partnered with CCDCOE in exercises, including Locked Shields and Crossed Swords, contributing expert personnel and putting its Stamus Security Platform (SSP), the company’s flagship network-based threat detection and response system, to the test.
“True cyber resilience must be accomplished through collaboration, and there’s no better example of that on the international level than Exercise Locked Shields,” said Stamus Networks’ CEO Ken Gramley. “The lessons learned and key takeaways from the live-fire exercises that we’ve participated in over the years have been instrumental in helping organizations around the world build up defenses against today’s sophisticated cyber threats. We look forward to collaborating with experts again at this year’s exercise, not only to strengthen our own solutions, but to help defenders elevate their status as cyber heroes around the world.”
To learn more about the NATO CCDCOE and Exercise Locked Shields, visit the website: https://ccdcoe.org/exercises/locked-shields/.
About Stamus Networks: Stamus Networks believes in a world where defenders are heroes, and a future where those they protect remain safe. As organizations face threats from well-funded adversaries, we relentlessly pursue solutions that make the defender’s job easier and more impactful. The global leader in Suricata-based network security solutions, Stamus Networks helps enterprise security teams know more, respond sooner and mitigate their risk with insights gathered from cloud and on-premise network activity. Our Stamus Security Platform combines the best of intrusion detection (IDS), network security monitoring (NSM), and network detection and response (NDR) systems into a single solution that exposes serious and imminent threats to critical assets and empowers rapid response. For more information visit: stamus-networks.com.
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Artificial Intelligence

Appdome MOBILEBot™ Defense Empowers Mobile Brands to Equalize Web Application Firewall Performance and Stop Bots Attacks Better

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New adaptive defense model allows network security teams to adjust detection and defense rules to get the most out of existing web application firewalls.
REDWOOD CITY, Calif., April 24, 2024 /PRNewswire/ — Appdome, the mobile app economy’s one-stop shop for mobile app defense, today announced three new enhancements to its MOBILEBot™ Defense solution to empower mobile brands to get more value and control from their existing web application firewall (WAF) infrastructures by adjusting the evaluation, detection, and defense policy to suit each WAF product and installation.

Cybercriminals have shifted their focus to mobile bot attacks, including weaponizing mobile apps, modified mobile apps, malware controlled mobile apps, fake mobile apps, as well as the common bot tactics like bot farms and scripts to perform brute force account takeovers, DDoS attacks and API abuse. WAF vendors have responded by providing customers with anti-bot SDKs. However, anti-bot SDKs impose too much work and too many limits on mobile app developers with too heavy a performance penalty on mobile apps in production. In addition, using these anti-bot SDKs also require costly changes to WAF infrastructures. Appdome MOBILEBot Defense provides the only way to avoid these complex challenges, making it easy for customers to deliver mobile anti-bot defense on top of any installed WAF.
The Appdome MOBILEBot Defense solution is fully portable across all new and old, on-premise and cloud WAFs. The new enhancements to MOBILEBot Defense provide adaptive evaluation, detection and defense rules that can ease and balance the compute burden on existing WAFs and infrastructures, enabling mobile brands to proactively identify and thwart bot attacks, all while reducing the strain on traditional WAFs, including those WAFs reaching their end-of-service horizons. The new Appdome enhancements allow enterprises, network security teams and mobile brands to extend the useful life of WAFs and deliver more ROI from their existing WAF investments.
“Mobile brands need to stop bot attacks, but they also need to get the most out of their WAF infrastructures and avoid costly or unplanned WAF upgrades,” said Tom Tovar, CEO and co-creator of Appdome. “Any mobile brand will likely have multiple WAFs, each with different performance characteristics. Our goal is to allow the brand to tailor the bot defense profile to meet the performance characteristics of each WAF.”
The new innovations in Appdome MOBILEBot Defense include:
Appdome DEVICETrust™: DEVICETrust is an innovative way to set the evaluation mode for connection requests and screen bot traffic and attacks. With it, mobile brands have the power to set the trust level for each threat vector and, depending on the trust setting, determine where, when and how bot detection and defense is performed. This allows for customizable trust models based on the class and type of WAF used in the bot defense infrastructure. With the new trust model mobile brands can select and prioritize the security checks that are most important to their mobile app security project goals with the click of a button.
Three modes of DEVICETrust are available with Appdome MOBILEBot Defense:
Adaptive Trust – uses the Appdome Bot Defense Framework™ intelligence to dynamically adjust the evaluation model based on the responsiveness of each WAF connected to MOBILEBot defense. Runtime-Trust – allows connection requests to proceed while threat assessment and checks are in process.Zero-Trust – holds connection requests until threat assessment and checks are complete.Appdome Bot Source and BotID:  Bot Source and BotID give mobile brands the ability to achieve continuous risk assessments by adding any data, such as business logic, to specific users and sessions in a mobile app, giving the WAF more granular rules and automated enforcement at the point of the attack, including on connection, at login, transaction, password reset, or other key application workflows.
Appdome Client Rate Limiting: Client rate limiting leverages the compute and processing power of the mobile device used in the attack, performing rate-limiting enforcement within the mobile app. Configurable limits on how frequently a user can perform an action, such as attempting to log in, within a defined timeframe. This approach is better than only relying solely on server-side rate limiting which can be susceptible to brute force and DDoS attacks.
“We’re working hard to ensure that our customers get the most out of their WAF infrastructure,” said Chris Roeckl, Appdome chief product officer. “WAFs are high performance, very capable, platforms. The antibot SDKs provided by WAF vendors are not. We’re trying to bridge the gap and give mobile brands something they can use to stop bots quickly, easily and efficiently.” 
About Appdome MOBILEBot Defense Appdome MOBILEBot Defense is the industry’s only comprehensive and fully portable anti-bot defense solution built-from-the-ground-up for mobile apps. It offers mobile brands multi-layered bot detection, intelligence, and defense all in one solution, easily protecting the mobile channel from 300+ attack vectors including fake apps, weaponized apps, malware-controlled apps, bot attacks, credential stuffing, DDoS and account takeovers (ATOs). It requires no SDK, no coding, and no added servers to deploy, and is fully compatible with all coding languages and frameworks used in mobile app development. Appdome MOBILEBot Defense is also the only product to work seamlessly with any WAF used in a mobile brand’s network. With Appdome, mobile brands are more efficiently and effectively protected from bot-driven malicious attacks, fraud, IP theft, performance drains and compliance issues at lower cost and complexity than legacy approaches.  For more information about Appdome MOBILEBot Defense, see our Knowledge Articles at  https://www.appdome.com/how-to/mobile-bot-detection/mobile-bot-defense/mobilebot-detection/.
About Appdome The Appdome mission is to protect every mobile app in the world and the people who use mobile apps in their lives and at work. Appdome provides the mobile industry’s only Unified Mobile App Defense platform, powered by a patented mobile coding engine, Threat-Events™ Threat-Aware UX/UI Control, and ThreatScope™ Mobile XDR. Using Appdome, mobile brands eliminate complexity, ship faster and save money by delivering 300+ Certified Secure™ mobile app security, anti-malware, anti-fraud, mobile anti-bot, anti-cheat, geo compliance, MiTM attack prevention, code obfuscation, social engineering and other protections in Android and iOS apps with ease, inside the mobile DevOps and CI/CD pipeline. Leading financial, healthcare, government and m-commerce brands use Appdome to protect Android and iOS apps, mobile customers and mobile businesses globally. Appdome holds several patents including U.S. Patents 9,934,017 B2, 10,310,870 B2, 10,606,582 B2, 11,243,748 B2 and 11,294,663 B2. Additional patents pending.
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Artificial Intelligence

“Sopra Steria” is positioned as a Leader in the 2024 SPARK MatrixTM for Cloud-Native Application Development Services by Quadrant Knowledge Solutions

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The Quadrant Knowledge Solutions SPARK Matrix™ provides competitive analysis & ranking of the Cloud-Native Application Development Services (CNADS) vendors.  Sopra Steria, with its comprehensive technology for Cloud-Native Application Development Services, has received strong ratings across the parameters of technology excellence and customer impact.PARIS, April 24, 2024 /PRNewswire/ — Sopra Steria and Quadrant Knowledge Solutions announced today that Sopra Steria has been named as a leader in the Q1 2024 SPARK MatrixTM analysis of the global CNADS market.

 
 
The Quadrant Knowledge Solutions’ SPARK Matrix™: Cloud-Native Application Development Services, includes a detailed analysis of global market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the leading technology vendors in the form of its SPARK Matrix™. The study offers strategic information for users to evaluate different provider capabilities, competitive differentiation, and market position.
According to Sitaparna Roy, Analyst at Quadrant Knowledge Solutions, “Sopra Steria through its Modern Apps Development Services helps organizations to convert their ideas into Minimum Viable Product (MVP) and monitor all the development stages to production with unparalleled speed, efficiency, and productivity. It facilitates this by offering Enterprise Architect Services, Low- code/ No-code services and Cloud-Native Application development Services in its Modern Apps Development Services portfolio. […] It supports innovation through adoption of the latest technologies and tools for generating new ideas for products, services, and tools. Sopra Steria’s unique ‘BizDevSecOps’ approach for end-to-end digital transformation supports effective communication and collaboration between businesses and team operations throughout the software development life cycle.”
“Sopra Steria is proud to be recognized once again as a leader in Cloud-Native Application Development Services by Quadrant Knowledge Solutions. Our commitment to innovation, customer-centricity, and excellence in service delivery has enabled us to maintain this position for the third consecutive year. We believe that our comprehensive approach to modern application development, supported by our Cloud Center of Excellence and Ingine Platform, empowers organizations to achieve their digital transformation goals efficiently and effectively.”, comments Yann Gloriau, Cloud expert at Sopra Steria.
Click here to know more.
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CONTACT: Aurélien Flaugnatti, [email protected]
 

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