Extended Warranty Market

Extended Warranty Market Size, Share, Growth Analysis, By Coverage(Standard Protection Plan, Accidental Protection Plan), By Application(Automobiles, Consumer Electronics, Home Appliances, Mobile Devices & PCs), By Distribution Channel(Manufacturers, Retailers, Others), By End User(Business, Individuals), By Region(North America, U.S., Canada, Mexico) - Industry Forecast 2024-2031

Report ID: UCMIG25S2009 | Region: Global | Published Date: Upcoming |
Pages: 165 | Tables: 55 | Figures: 60

Extended Warranty Market Insights

Market Overview:

An extended warranty, also known as a service contract, is an insurance policy that duplicates and extends the warranty period of consumer durable goods for a set period of time. It covers the cost of product replacement, repair, and breakdown, as well as other coverages specified in extended warranty plans. Furthermore, retailers, manufacturers, and other warranty administrators can provide extended warranties. Extended warranties are offered to consumers in addition to the standard warranty on new items, and they cost extra based on a percentage of the item's retail price. The market is growing due to increased awareness of extended warranties for brown goods such as laptops, smartphones, and tablets.

Extended Warranty Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.

Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.

The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Specialized Consumer Services by segment aggregation, the contribution of the Specialized Consumer Services in Consumer Services and vendor share.

To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.

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

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

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

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

The key players operating in the 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..

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Extended Warranty Market

Product ID: UCMIG25S2009