| Published Date | Report Code | No. of Pages | Report Format |
| July – 2020 | AMR- 5014 | 110 | PDF / Excel |
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.
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.
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.
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.
Noticeable players within the Global Market
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.
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)
By Distribution Channel (Revenue in USD Billion)
By Warranty Coverage Type (Revenue in USD Billion)
Regional Perspective (Revenue in USD Billion)
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.
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.
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.
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.
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.
Noticeable players within the Global Market
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.
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)
By Distribution Channel (Revenue in USD Billion)
By Warranty Coverage Type (Revenue in USD Billion)
Regional Perspective (Revenue in USD Billion)
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.
