/PRNewswire/ The "Mobile Phone Insurance Market by Phone Type, Sales Channel, Coverage, and End User: Global Opportunity Analysis and Industry Forecast.
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According to this report the market was valued at US$ 2,432.84 million in 2019 and is projected to reach US$ 3,960.79 million by 2027; it is expected to grow at a CAGR of 6.5% from 2020 to 2027.
North America led the global rugged phones market with more than 30.0% revenue share in 2019, followed by Europe and APAC. North America is the most technologically advanced region comprising major economies such as the US, Canada, and Mexico. These economies are characterized by higher standards of living, high disposable incomes of individuals, and rapid technological advancements in the technology industry. Moreover, rising trend of industrial automation driven by growing advancement in Internet of Things (IoT) and its applications is bolstering the industrial growth in the region. Several industries in the region such as oil & gas, aerospace, automotive, transportation, telecommunications, and logistics are impl