What is the estimated value of the global Extended Warranty Market?

The global market for Extended Warranty was estimated to be valued at US$ XX Mn in 2021. Read More

What is the expected growth rate of the global Extended Warranty Market during the forecast period?

The global Extended Warranty Market is estimated to grow at a CAGR of XX% by 2028. Read More

What are the key industry segments covered in the report?

The global Extended Warranty Market is segmented on the basis of Coverage, Application, Distribution Channel, End User, Region. Read More

On the basis of region, how is the global Extended Warranty Market segmented?

Based on region, the global Extended Warranty Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Read More

Who are the key players competing in the global Extended Warranty Market?

The key players operating in the global Extended Warranty Market are ASSURANT, INC., American International Group, Inc., AXA, AmTrust Financial, Asurion, CARCHEX, CarShield, LLC, Endurance Warranty Services, LLC, Edel Assurance, SquareTrade, Inc.. Read More

Extended Warranty Market Size, Share & Trends Analysis, By Coverage (Standard Protection Plan, Accidental Protection Plan), By Distribution Channel (Manufacturers, Retailers, Others), By Application (Automobiles, Consumer Electronics, Home, Appliances, Mobile Devices and PCs, Others), By End Use (Individuals, Business), By Region, And Segment Forecast, 2025-2032

Report ID: SQMIG45B2207 | Region: Global | Published Date: March, 2025
Pages: 196 | Tables: 115 | Figures: 69

Extended Warranty Market News

In March 2024, AXA, a leading French insurance company, completed the acquisition of a smaller warranty provider, enhancing its market presence. AXA, which offers various insurance and financial services, aims to strengthen its extended warranty portfolio through this strategic acquisition. The move is expected to increase its market share significantly.

In April 2024, American International Group Inc. (AIG), another U.S.-based company, introduced an extended warranty plan for smart home devices. AIG, known for its diverse insurance products, is expanding its offerings to include the latest technological advancements in home automation. This new product caters to the increasing demand for smart home protection.

In May 2024, Assurant, Inc., a U.S. company specializing in providing extended warranties and protection plans for various consumer products, launched a new extended warranty product for electric vehicles (EVs). This move aims to capitalize on the growing EV market. Assurant has consistently innovated in the warranty space, ensuring comprehensive coverage for new technologies.

Extended Warranty Market Report Snapshots

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Global Extended Warranty Market size was valued at USD 133.6 Billion in 2023 and is poised to grow from USD 148.03 Billion in 2024 to USD 336.25 Billion by 2032, growing at a CAGR of 10.8% in the forecast period (2025-2032).

The global extended warranty industry is highly competitive, with established players, insurance providers, and digital-first startups driving innovation. Leading companies such as Assurant, SquareTrade (an Allstate company), American International Group (AIG), AmTrust Financial Services, and AXA dominate the market by offering comprehensive coverage for consumer electronics, home appliances, and automobiles. These firms leverage their expertise in risk management, claims processing, and customer support to maintain their stronghold. However, the industry is witnessing disruption from digital-first and insurtech startups like Upsie, Mulberry, and Extend, which focus on automation, transparency, and AI-driven predictive maintenance. 'Assurant', 'SquareTrade (Allstate)', 'American International Group (AIG)', 'AmTrust Financial Services', 'AXA', 'Upsie', 'Mulberry', 'Extend', 'Domestic & General', 'The Warranty Group', 'Allianz Partners', 'Asurion'

With increasing reliance on expensive consumer electronics, home appliances, and automobiles, consumers are seeking extended warranties to safeguard their investments. The fear of unexpected repair costs and the rising complexity of modern products have fueled demand for extended warranty services. Companies are responding by offering customized and flexible plans that cater to various customer needs, from smartphones to electric vehicles (EVs). The growing e-commerce sector has further boosted warranty adoption, as online retailers integrate extended protection plans at the point of sale. This trend is particularly strong in developed markets such as North America and Europe, where consumers prioritize long-term product reliability.

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