According to Cognitive Market Research, the global Personal Gadget Insurance Market size will be USD 26524.8 million in 2025. It will expand at a compound annual growth rate (CAGR) of 11.50% from 2025 to 2033.

North America held the major market share for more than 37% of the global revenue with a market size of USD 9814.18 million in 2025 and will grow at a compound annual growth rate (CAGR) of 9.3% from 2025 to 2033.
Europe accounted for a market share of over 29% of the global revenue with a market size of USD 7692.19 million.
APAC held a market share of around 24% of the global revenue with a market size of USD 6365.95 million in 2025 and will grow at a compound annual growth rate (CAGR) of 13.5% from 2025 to 2033.
South America has a market share of more than 3.8% of the global revenue with a market size of USD 1007.94 million in 2025 and will grow at a compound annual growth rate (CAGR) of 10.5% from 2025 to 2033.
Middle East had a market share of around 4% of the global revenue and was estimated at a market size of USD 1060.99 million in 2025 and will grow at a compound annual growth rate (CAGR) of 10.8% from 2025 to 2033.
Africa had a market share of around 2.2% of the global revenue and was estimated at a market size of USD 583.55 million in 2025 and will grow at a compound annual growth rate (CAGR) of 11.2% from 2025 to 2033.
In the Personal Gadget Insurance Market, offline is expected to be the fastest growing segment in the market

Market Dynamics of Personal Gadget Insurance Market

Key Drivers for Personal Gadget Insurance Market

Increasing Gadget Penetration is Driving Growth In The Personal Gadget Insurance Market

The increasing gadget penetration is expected to drive future growth in the personal gadget insurance market. A smartphone is a portable electronic device that communicates via a cellular network. A reliable mobile phone insurance plan will cover any necessary repairs or replacements, so the market for mobile phone insurance is expected to expand as more people adopt smartphones. For instance, Uswitch Limited, a UK-based online and telephone comparison and switching service, reported that 71.8 million mobile connections would be active in 2022. By 2025, the UK will be home to 68.3 million people, with 95% of them carrying smartphones. As a result, the increasing gadget penetration is fueling the growth of the personal gadget insurance market.

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Rising Incidents Of Phone Thefts Boost Market Growth

The rising number of phone thefts is expected to drive future growth in the personal gadget insurance market. Phone theft is the criminal act of stealing or unlawfully taking possession of another person's mobile phone or smartphone device. Victims of phone theft frequently seek financial recovery through mobile phone insurance. Mobile phone insurance covers the costs of replacing or repairing a stolen phone, providing a practical solution to reduce the financial impact of theft. For instance, the London Metropolitan Police, a UK-based police service department, reported that 90,864 phones were stolen in 2022, equating to 249 phones stolen per day. As a result, rising incidents of phone theft are fueling the growth of the personal gadget insurance market

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Restraint Factor for the Personal Gadget Insurance Market

High Competition in Market Limit Market Growth

The growing number of insurance providers in the global personal gadget insurance market presents a significant barrier, as many companies provide similar coverage options. Due to the high level of competition, insurers find it difficult to differentiate themselves and attract customers. Differentiating solely on price is frequently insufficient, as most consumers seek added value, such as superior customer service or specialized policies. The pressure to constantly innovate and provide competitive advantages without sacrificing profitability can be overwhelming for companies. As the market becomes more saturated, insurers will find it increasingly difficult to distinguish their offerings and maintain customer loyalty Introduction of the Personal Gadget Insurance Market

Global personal gadget insurance is a specialized insurance product that provides financial protection for personal electronic devices such as smartphones, laptops, tablets, and wearable ga...