Global Extended Warranty Market for Consumer Electronics (By Product (PCs & Laptops, Mobile Devices, Wearables and Others), By Distribution Channel (Online and Offline), By Warranty Coverage Type (Standard Protection Plan and Accidental Protection Plan)) – Prospective Landscape, Size, Share, Growth, Opportunities and Industry Forecast 2019-2028

Published DateReport CodeNo. of PagesReport Format
July – 2020AMR- 5014110PDF / Excel

SelectLicense Type

The global extended warranty market for consumer electronics is majorly driven by the growing purchase of smartphones and other electronics products across the globe. The increased purchasing capacity and rising urbanization across the globe are some other major factors anticipated to further drive the global extended warranty market for consumer electronics growth throughout the forecast period.

The growing demand for technologically advanced consumer electronics products along with rising consumer spendings are other key driver for market growth. According to World Bank’s recent statistics on final consumption expenditure, in 2018 the final consumption expenditure has reached US$ 63.08 Tn from US$ 59.05 Tn in 2017. The rising demand for the extended warranty for consumer electronics from Asia Pacific owing to the rise in disposable income and growing demand for consumer electronic products are further anticipated to enhance the global market demand over the forecast period. However, high initial investment and lack of awareness of extended warranty are some of the major factors anticipated to hinder the global extended warranty market for consumer electronics growth during the forecast period 2020-2028.

Market Insights

The increasing focus on the part of customers to prolong the warranty coverage validity along with the growing purchase of expensive consumer electronics products across the globe are the key reasons for the extended warranty market for consumer electronics growth. The rising spending capability and increasing consumer inclination towards smart products are estimated to boost the market demand. The growing awareness for the benefits of extended warranty along with increased demand from Asia Pacific are further anticipated to fuel the market demand in the years to come. The extended warranty has numerous features such as reduced repair cost, replacement, savings over time and others are projected to contribute towards growing market demand. The global extended warranty market for consumer electronics was valued at US$ 32.78 Bn in 2019 and expected to grow at a CAGR of 6.9% throughout the forecast period to reach over US$ 57.0 Bn by 2028.

The increased popularity to buy expensive consumer electronic products in the emerging economies such as India, China, Brazil, Indonesia, and others are estimated to further enhance the global extended warranty market for consumer electronics demand over the upcoming years. However, high initial investment, lack of awareness, and Covid-19 pandemic are some of the key market restraints presumed to hinder the global extended warranty market for consumer electronics growth in the years to come.

Segment Insight

Based on the end-user, in 2019, the offline category had a larger share in the global extended warranty market for consumer electronics and accounted for over 80% of the global market revenue share in the same year. The category had its dominance due to the growing number of retail stores across the globe and retail stores being the traditional way of purchase. Besides, the online category is estimated to expand at a rapid CAGR in the years to come owing to the rising consumer interest towards e-commerce purchases and discounts offered by online retailers.

Regional Insights

In 2019, North America dominated the global extended warranty market for consumer electronics and contributed to more than 50% of the global market revenue share in the same year. High consumer awareness regarding the advantages of extended warranty along with the growing purchase of expensive consumer electronics products are the major factors for regional dominance. The U.S. had a major share in the North America extended warranty market in 2019 and accounted for more than 80% of North America extended warranty market for consumer electronics in the same year. High consumer spending power along with the presence of key market players such as American International Group, Inc., Amtrust Financial Services, Inc., Asurion LLC and others.

The market in Asia Pacific is anticipated to grow at a rapid pace during the forecast period due to rising awareness for extended warranty and increased expenditure on expensive consumer electronic products in the region. The rapid urbanization in emerging economies such as China and India is another key factor for regional growth.

Top Companies with Recent Development

Noticeable players within the Global Market

  • Allianz Global Assistance
  • American International Group, Inc.
  • Amtrust Financial Services, Inc.
  • Asurion LLC
  • Chubb Limited
  • Assurant, Inc.
  • SqyareTrade, Inc.
  • The Warranty Group, Inc.
  • Advanced American Auto Warranty Services, LLC
  • Corporate Warranties India Pvt. Ltd.

The above mentioned key players for the global extended warranty market for consumer electronics are investing hugely in Research & Development to publicize new products and offers to increase their market share and geographical expansion. In addition, the global extended warranty for consumer electronics key market players are focusing on key strategies such as geographical expansion, technological innovations, strategic collaboration, acquisitions, strategic contracts, new product launches, and mergers to increase their market presence.

Report Scope by Market Segments

This report splits the world extended warranty market revenue opportunities worldwide, regional, and national levels and gives a comprehensive research study of the most recent industry activities in each of the sub-segments throughout the forecast period. For the reason of this ponder, Alchemy Market Research has segmented the global extended warranty market report on the premise of product type, application, delivery mode, and regional analysis:

By Product (Revenue in USD Billion)

  • PCs & Laptops
  • Mobile Devices
  • Wearables
  • Others

By Distribution Channel (Revenue in USD Billion)

  • Online
  • Offline

By Warranty Coverage Type (Revenue in USD Billion)

  • Standard Protection Plan
  • Accidental Protection Plan

Regional Perspective (Revenue in USD Billion)

  • North America
    • U.S.A
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Turkey
    • Rest of Middle East & Africa

This report answers key questions such as

  • What are the challenges in the extended warranty market?
  • What are the factors anticipated to drive the extended warranty market?
  • What are trends, restraints, and challenges in the global extended warranty market?
  • Who are the potential customers of extended warranty?
  • Analysis of key strategies by key market players?
  • Which region is growing rapidly?
  • How do rapidly changing consumer perspectives will affect the extended warranty market?
  • How is the competitive environment?
  • Comprehensive details of factors that will challenge the growth of the market pre & post Covid-19.
  • How are collaborations evolving in the market?
  • What is the customer sentiment about this market?
  • What are the solutions to the challenges?
  • What are the opportunities in this market?
  • What are the key current & upcoming technological trends estimated to drive the markets?
  • Regions & segment-wise analysis of how various industries will perform?
  • Forecasts on how market drivers, restraints and future opportunities will affect the market dynamics?

Chapter 1. Executive Summary

Chapter 2. Market Introduction

Chapter 3. Global Extended Warranty Market for Consumer Electronics– Analysis and Revenue Forecast 2019-2028 – Key Industry Dynamics

3.1. Key Market Drivers
3.2. Key Market Restraints
3.3. Market Opportunities
3.4. Future Trends
3.5. Impact Analysis of Drivers and Restraints

Chapter 4. Global Extended Warranty Market for Consumer Electronics– Analysis and Revenue Forecast 2019-2028

Chapter 5. Global Extended Warranty Market for Consumer Electronics– Analysis and Revenue Forecast 2019-2028 – By Product

5.1. PCs & Laptops
5.2. Mobile Devices
5.3. Wearables
5.4. Others

Chapter 6. Global Extended Warranty Market for Consumer Electronics– Analysis and Revenue Forecast 2019-2028 – By Distribution Channel

6.1. Online
6.2. Offline

Chapter 7. Global Extended Warranty Market for Consumer Electronics– Analysis and Revenue Forecast 2019-2028 – By Warranty Coverage Type

7.1. Standard Protection Plan
7.2. Accidental Protection Plan

Chapter 8. Global Extended Warranty Market for Consumer Electronics– Analysis and Revenue Forecast 2019-2028 – By Region

8.1. North America
8.2. Europe
8.3. Asia-Pacific
8.4. Latin America
8.5. Middle East & Africa

Chapter 9. North America Extended Warranty Market for Consumer Electronics– Analysis and Revenue Forecast 2019-2028

9.1. North America Extended Warranty Market for Consumer Electronics– By Product

9.1.1. PCs & Laptops
9.1.2. Mobile Devices
9.1.3. Wearables
9.1.4. Others

9.2. North America Extended Warranty Market for Consumer Electronics– By Distribution Channel

9.2.1. Online
9.2.2. Offline

9.3. North America Extended Warranty Market for Consumer Electronics– By Warranty Coverage Type

9.3.1. Standard Protection Plan
9.3.2. Accidental Protection Plan

9.4. North America Extended Warranty Market for Consumer Electronics– By Country

9.4.1. U.S.
9.4.2. Canada

Chapter 10. Europe Extended Warranty Market for Consumer Electronics– Analysis and Revenue Forecast 2019-2028

10.1. Europe Extended Warranty Market for Consumer Electronics– By Product

10.1.1. PCs & Laptops
10.1.2. Mobile Devices
10.1.3. Wearables
10.1.4. Others

10.2. Europe Extended Warranty Market for Consumer Electronics– By Distribution Channel

10.2.1. Online
10.2.2. Offline

10.3. Europe Extended Warranty Market for Consumer Electronics– By Warranty Coverage Type

10.3.1. Standard Protection Plan
10.3.2. Accidental Protection Plan

10.4. Europe Extended Warranty Market for Consumer Electronics– By Country

10.4.1. Germany
10.4.2. France
10.4.3. UK
10.4.4. Spain
10.4.5. Italy
10.4.6. Rest of Europe

Chapter 11. Asia Pacific Extended Warranty Market for Consumer Electronics– Analysis and Revenue Forecast 2019-2028

11.1. Asia Pacific Extended Warranty Market for Consumer Electronics– By Product

11.1.1. PCs & Laptops
11.1.2. Mobile Devices
11.1.3. Wearables
11.1.4. Others

11.2. Asia Pacific Extended Warranty Market for Consumer Electronics– By Distribution Channel

11.2.1. Online
11.2.2. Offline

11.3. Asia Pacific Extended Warranty Market for Consumer Electronics– By Warranty Coverage Type

11.3.1. Standard Protection Plan
11.3.2. Accidental Protection Plan

11.4. Asia-Pacific Extended Warranty Market for Consumer Electronics– By Country

11.4.1. China
11.4.2. India
11.4.3. Japan
11.4.4. South Korea
11.4.5. Rest of Asia-Pacific

Chapter 12. Latin America Extended Warranty Market for Consumer Electronics– Analysis and Revenue Forecast 2019-2028

12.1. Latin America Extended Warranty Market for Consumer Electronics– By Product

12.1.1. PCs & Laptops
12.1.2. Mobile Devices
12.1.3. Wearables
12.1.4. Others

12.2. Latin America Extended Warranty Market for Consumer Electronics– By Distribution Channel

12.2.1. Online
12.2.2. Offline

12.3. Latin America Extended Warranty Market for Consumer Electronics– By Warranty Coverage Type

12.3.1. Standard Protection Plan
12.3.2. Accidental Protection Plan

12.4. Latin America Extended Warranty Market for Consumer Electronics– By Country

12.4.1. Brazil
12.4.2. Mexico
12.4.3. Rest of Latin America

Chapter 13. Middle East & Africa Extended Warranty Market for Consumer Electronics– Analysis and Revenue Forecast 2019-2028

13.1. Middle East & Africa Extended Warranty Market for Consumer Electronics– By Product

13.1.1. PCs & Laptops
13.1.2. Mobile Devices
13.1.3. Wearables
13.1.4. Others

13.2. Middle East & Africa Extended Warranty Market for Consumer Electronics– By Distribution Channel

13.2.1. Online
13.2.2. Offline

13.3. Middle East & Africa Extended Warranty Market for Consumer Electronics– By Warranty Coverage Type

13.3.1. Standard Protection Plan
13.3.2. Accidental Protection Plan

13.4. Middle East & Africa Extended Warranty Market for Consumer Electronics– By Country

13.4.1. UAE
13.4.2. Saudi Arabia
13.4.3. Turkey
13.4.4. Rest of Middle East & Africa

Chapter 14. Competitive Analysis

14.1.1. Competition Dashboard
14.1.2. Company Profiles

14.1.2.1. Allianz Global Assistance
14.1.2.2. American International Group, Inc.
14.1.2.3. Amtrust Financial Services, Inc.
14.1.2.4. Asurion LLC
14.1.2.5. Chubb Limited
14.1.2.6. Assurant, Inc.
14.1.2.7. SqyareTrade, Inc.
14.1.2.8. The Warranty Group, Inc.
14.1.2.9. Advanced American Auto Warranty Services, LLC
14.1.2.10. Corporate Warranties India Pvt. Ltd.

Report Synopsis

The global extended warranty market for consumer electronics is majorly driven by the growing purchase of smartphones and other electronics products across the globe. The increased purchasing capacity and rising urbanization across the globe are some other major factors anticipated to further drive the global extended warranty market for consumer electronics growth throughout the forecast period.

The growing demand for technologically advanced consumer electronics products along with rising consumer spendings are other key driver for market growth. According to World Bank’s recent statistics on final consumption expenditure, in 2018 the final consumption expenditure has reached US$ 63.08 Tn from US$ 59.05 Tn in 2017. The rising demand for the extended warranty for consumer electronics from Asia Pacific owing to the rise in disposable income and growing demand for consumer electronic products are further anticipated to enhance the global market demand over the forecast period. However, high initial investment and lack of awareness of extended warranty are some of the major factors anticipated to hinder the global extended warranty market for consumer electronics growth during the forecast period 2020-2028.

Report Description

Market Insights

The increasing focus on the part of customers to prolong the warranty coverage validity along with the growing purchase of expensive consumer electronics products across the globe are the key reasons for the extended warranty market for consumer electronics growth. The rising spending capability and increasing consumer inclination towards smart products are estimated to boost the market demand. The growing awareness for the benefits of extended warranty along with increased demand from Asia Pacific are further anticipated to fuel the market demand in the years to come. The extended warranty has numerous features such as reduced repair cost, replacement, savings over time and others are projected to contribute towards growing market demand. The global extended warranty market for consumer electronics was valued at US$ 32.78 Bn in 2019 and expected to grow at a CAGR of 6.9% throughout the forecast period to reach over US$ 57.0 Bn by 2028.

The increased popularity to buy expensive consumer electronic products in the emerging economies such as India, China, Brazil, Indonesia, and others are estimated to further enhance the global extended warranty market for consumer electronics demand over the upcoming years. However, high initial investment, lack of awareness, and Covid-19 pandemic are some of the key market restraints presumed to hinder the global extended warranty market for consumer electronics growth in the years to come.

Segment Insight

Based on the end-user, in 2019, the offline category had a larger share in the global extended warranty market for consumer electronics and accounted for over 80% of the global market revenue share in the same year. The category had its dominance due to the growing number of retail stores across the globe and retail stores being the traditional way of purchase. Besides, the online category is estimated to expand at a rapid CAGR in the years to come owing to the rising consumer interest towards e-commerce purchases and discounts offered by online retailers.

Regional Insights

In 2019, North America dominated the global extended warranty market for consumer electronics and contributed to more than 50% of the global market revenue share in the same year. High consumer awareness regarding the advantages of extended warranty along with the growing purchase of expensive consumer electronics products are the major factors for regional dominance. The U.S. had a major share in the North America extended warranty market in 2019 and accounted for more than 80% of North America extended warranty market for consumer electronics in the same year. High consumer spending power along with the presence of key market players such as American International Group, Inc., Amtrust Financial Services, Inc., Asurion LLC and others.

The market in Asia Pacific is anticipated to grow at a rapid pace during the forecast period due to rising awareness for extended warranty and increased expenditure on expensive consumer electronic products in the region. The rapid urbanization in emerging economies such as China and India is another key factor for regional growth.

Top Companies with Recent Development

Noticeable players within the Global Market

  • Allianz Global Assistance
  • American International Group, Inc.
  • Amtrust Financial Services, Inc.
  • Asurion LLC
  • Chubb Limited
  • Assurant, Inc.
  • SqyareTrade, Inc.
  • The Warranty Group, Inc.
  • Advanced American Auto Warranty Services, LLC
  • Corporate Warranties India Pvt. Ltd.

The above mentioned key players for the global extended warranty market for consumer electronics are investing hugely in Research & Development to publicize new products and offers to increase their market share and geographical expansion. In addition, the global extended warranty for consumer electronics key market players are focusing on key strategies such as geographical expansion, technological innovations, strategic collaboration, acquisitions, strategic contracts, new product launches, and mergers to increase their market presence.

Report Scope by Market Segments

This report splits the world extended warranty market revenue opportunities worldwide, regional, and national levels and gives a comprehensive research study of the most recent industry activities in each of the sub-segments throughout the forecast period. For the reason of this ponder, Alchemy Market Research has segmented the global extended warranty market report on the premise of product type, application, delivery mode, and regional analysis:

By Product (Revenue in USD Billion)

  • PCs & Laptops
  • Mobile Devices
  • Wearables
  • Others

By Distribution Channel (Revenue in USD Billion)

  • Online
  • Offline

By Warranty Coverage Type (Revenue in USD Billion)

  • Standard Protection Plan
  • Accidental Protection Plan

Regional Perspective (Revenue in USD Billion)

  • North America
    • U.S.A
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Turkey
    • Rest of Middle East & Africa

This report answers key questions such as

  • What are the challenges in the extended warranty market?
  • What are the factors anticipated to drive the extended warranty market?
  • What are trends, restraints, and challenges in the global extended warranty market?
  • Who are the potential customers of extended warranty?
  • Analysis of key strategies by key market players?
  • Which region is growing rapidly?
  • How do rapidly changing consumer perspectives will affect the extended warranty market?
  • How is the competitive environment?
  • Comprehensive details of factors that will challenge the growth of the market pre & post Covid-19.
  • How are collaborations evolving in the market?
  • What is the customer sentiment about this market?
  • What are the solutions to the challenges?
  • What are the opportunities in this market?
  • What are the key current & upcoming technological trends estimated to drive the markets?
  • Regions & segment-wise analysis of how various industries will perform?
  • Forecasts on how market drivers, restraints and future opportunities will affect the market dynamics?
Table of Content

Chapter 1. Executive Summary

Chapter 2. Market Introduction

Chapter 3. Global Extended Warranty Market for Consumer Electronics– Analysis and Revenue Forecast 2019-2028 – Key Industry Dynamics

3.1. Key Market Drivers
3.2. Key Market Restraints
3.3. Market Opportunities
3.4. Future Trends
3.5. Impact Analysis of Drivers and Restraints

Chapter 4. Global Extended Warranty Market for Consumer Electronics– Analysis and Revenue Forecast 2019-2028

Chapter 5. Global Extended Warranty Market for Consumer Electronics– Analysis and Revenue Forecast 2019-2028 – By Product

5.1. PCs & Laptops
5.2. Mobile Devices
5.3. Wearables
5.4. Others

Chapter 6. Global Extended Warranty Market for Consumer Electronics– Analysis and Revenue Forecast 2019-2028 – By Distribution Channel

6.1. Online
6.2. Offline

Chapter 7. Global Extended Warranty Market for Consumer Electronics– Analysis and Revenue Forecast 2019-2028 – By Warranty Coverage Type

7.1. Standard Protection Plan
7.2. Accidental Protection Plan

Chapter 8. Global Extended Warranty Market for Consumer Electronics– Analysis and Revenue Forecast 2019-2028 – By Region

8.1. North America
8.2. Europe
8.3. Asia-Pacific
8.4. Latin America
8.5. Middle East & Africa

Chapter 9. North America Extended Warranty Market for Consumer Electronics– Analysis and Revenue Forecast 2019-2028

9.1. North America Extended Warranty Market for Consumer Electronics– By Product

9.1.1. PCs & Laptops
9.1.2. Mobile Devices
9.1.3. Wearables
9.1.4. Others

9.2. North America Extended Warranty Market for Consumer Electronics– By Distribution Channel

9.2.1. Online
9.2.2. Offline

9.3. North America Extended Warranty Market for Consumer Electronics– By Warranty Coverage Type

9.3.1. Standard Protection Plan
9.3.2. Accidental Protection Plan

9.4. North America Extended Warranty Market for Consumer Electronics– By Country

9.4.1. U.S.
9.4.2. Canada

Chapter 10. Europe Extended Warranty Market for Consumer Electronics– Analysis and Revenue Forecast 2019-2028

10.1. Europe Extended Warranty Market for Consumer Electronics– By Product

10.1.1. PCs & Laptops
10.1.2. Mobile Devices
10.1.3. Wearables
10.1.4. Others

10.2. Europe Extended Warranty Market for Consumer Electronics– By Distribution Channel

10.2.1. Online
10.2.2. Offline

10.3. Europe Extended Warranty Market for Consumer Electronics– By Warranty Coverage Type

10.3.1. Standard Protection Plan
10.3.2. Accidental Protection Plan

10.4. Europe Extended Warranty Market for Consumer Electronics– By Country

10.4.1. Germany
10.4.2. France
10.4.3. UK
10.4.4. Spain
10.4.5. Italy
10.4.6. Rest of Europe

Chapter 11. Asia Pacific Extended Warranty Market for Consumer Electronics– Analysis and Revenue Forecast 2019-2028

11.1. Asia Pacific Extended Warranty Market for Consumer Electronics– By Product

11.1.1. PCs & Laptops
11.1.2. Mobile Devices
11.1.3. Wearables
11.1.4. Others

11.2. Asia Pacific Extended Warranty Market for Consumer Electronics– By Distribution Channel

11.2.1. Online
11.2.2. Offline

11.3. Asia Pacific Extended Warranty Market for Consumer Electronics– By Warranty Coverage Type

11.3.1. Standard Protection Plan
11.3.2. Accidental Protection Plan

11.4. Asia-Pacific Extended Warranty Market for Consumer Electronics– By Country

11.4.1. China
11.4.2. India
11.4.3. Japan
11.4.4. South Korea
11.4.5. Rest of Asia-Pacific

Chapter 12. Latin America Extended Warranty Market for Consumer Electronics– Analysis and Revenue Forecast 2019-2028

12.1. Latin America Extended Warranty Market for Consumer Electronics– By Product

12.1.1. PCs & Laptops
12.1.2. Mobile Devices
12.1.3. Wearables
12.1.4. Others

12.2. Latin America Extended Warranty Market for Consumer Electronics– By Distribution Channel

12.2.1. Online
12.2.2. Offline

12.3. Latin America Extended Warranty Market for Consumer Electronics– By Warranty Coverage Type

12.3.1. Standard Protection Plan
12.3.2. Accidental Protection Plan

12.4. Latin America Extended Warranty Market for Consumer Electronics– By Country

12.4.1. Brazil
12.4.2. Mexico
12.4.3. Rest of Latin America

Chapter 13. Middle East & Africa Extended Warranty Market for Consumer Electronics– Analysis and Revenue Forecast 2019-2028

13.1. Middle East & Africa Extended Warranty Market for Consumer Electronics– By Product

13.1.1. PCs & Laptops
13.1.2. Mobile Devices
13.1.3. Wearables
13.1.4. Others

13.2. Middle East & Africa Extended Warranty Market for Consumer Electronics– By Distribution Channel

13.2.1. Online
13.2.2. Offline

13.3. Middle East & Africa Extended Warranty Market for Consumer Electronics– By Warranty Coverage Type

13.3.1. Standard Protection Plan
13.3.2. Accidental Protection Plan

13.4. Middle East & Africa Extended Warranty Market for Consumer Electronics– By Country

13.4.1. UAE
13.4.2. Saudi Arabia
13.4.3. Turkey
13.4.4. Rest of Middle East & Africa

Chapter 14. Competitive Analysis

14.1.1. Competition Dashboard
14.1.2. Company Profiles

14.1.2.1. Allianz Global Assistance
14.1.2.2. American International Group, Inc.
14.1.2.3. Amtrust Financial Services, Inc.
14.1.2.4. Asurion LLC
14.1.2.5. Chubb Limited
14.1.2.6. Assurant, Inc.
14.1.2.7. SqyareTrade, Inc.
14.1.2.8. The Warranty Group, Inc.
14.1.2.9. Advanced American Auto Warranty Services, LLC
14.1.2.10. Corporate Warranties India Pvt. Ltd.

Report Methodology
Report Customization
Report Sample
Consult the Analyst