Market Overview:
The global extended warranty market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for protection plans among consumers, owing to the rising cost of devices and technological advancements. In addition, growing awareness about accidental damage protection plans is also contributing to the growth of this market. Based on type, the global extended warranty market can be segmented into standard protection plan and accidental protection plan. The standard protection plan segment is expected to account for a larger share of the global extended warranty market in 2018. However, with increasing demand for accidental damage protection plans among consumers, this segment is projected to witness higher growth during the forecast period from 2018-2030. On basis of application, laptops.
Product Definition:
An extended warranty is an insurance policy that covers the cost of repairs or replacement of a product after the original manufacturer's warranty has expired. Extended warranties are typically offered by retailers, service providers, and manufacturers as an optional purchase with the product. They can be purchased for a specific time period (e.g., one year) or for the life of the product.
The importance of extended warranties varies depending on individual circumstances. For products that are likely to need frequent repairs or replacements (e.g., appliances), an extended warranty may be a wise investment. For products that are unlikely to need repairs (e.
Standard Protection Plan:
The Standard Protection Plan (SPP) is a warranty offered by mobile phone manufacturers and service providers in case of the failure of an essential component in the mobile phones. The SPP usually includes coverage for replacement and repair of malfunctioning parts, accidental damage protection plan, as well as limited technical support. The market for standard protection plans was valued at USD 2 billion in 2014 and is expected to grow at a CAGR close to 5% over the forecast period.
Accidental Protection Plan:
An Accidental Protection Plan (APP) is a type of extended warranty plan that provides protection against covered damages to equipment or property. The damage can be caused by electrical surges, lightning strikes, dropped objects, power line voltage fluctuations and other causes. These plans are designed for consumer electronics such as computers and laptops which are more susceptible to damages due to power fluctuations. APP covers the cost of repairs or replacement in case the user has to deal with any covered damage during the coverage period.
Application Insights:
The laptops and PCs application segment accounted for the largest share of over 40.0% in 2017. The growth is attributed to the increasing demand for laptops and computers across various end-use industries such as education, corporate, retail, hospitality etc. Furthermore, technological advancements in hardware and software have fueled the demand further driving this segment. For instance, Microsoft¢â‚¬â„¢s latest operating system Windows 10 has introduced new features such as Continuum which enables users to switch between different modes (Laptop Mode or Tablet Mode) depending upon usage requirements by providing a unified interface within both laptop and tablet devices.
Regional Analysis:
The market in North America is expected to witness significant growth over the forecast period owing to the presence of a large number of technology users and high adoption rate for advanced technologies. The region accounted for more than 35% revenue share in 2016, which is attributed to growing product demand across end-use industries such as IT & telecom, manufacturing, healthcare and automotive.
Asia Pacific is projected to be one of the fastest-growing regions over the forecast period owing to increasing product penetration across several end-use industries such as consumer electronics, automotive and appliances. Increasing disposable income levels are also expected drive regional growth during the forecast years.
Europe was valued at more than USD X billion in 2016.
Growth Factors:
- Increasing demand for consumer electronics and appliances
- Rising cost of repairs and replacements
- Growing awareness about the benefits of extended warranties
- Proliferation of online purchase channels
- Increased demand from emerging markets
Scope Of The Report
Report Attributes
Report Details
Report Title
Extended Warranty Market Research Report
By Type
Standard Protection Plan, Accidental Protection Plan
By Application
Laptops and PCs, Mobile Devices, Wearables, Others
By Companies
Allianz Global Assistance, American International Group, Inc., Amtrust Financial Services, Inc., Asurion LLC, Chubb Limited, Assurant, Inc., SquareTrade, Inc., The Warranty Group, Inc., Advanced American Auto Warranty Services LLC, Corporate Warranties India Pvt. Ltd
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
122
Number of Tables & Figures
86
Customization Available
Yes, the report can be customized as per your need.
Global Extended Warranty Market Report Segments:
The global Extended Warranty market is segmented on the basis of:
Types
Standard Protection Plan, Accidental Protection Plan
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Laptops and PCs, Mobile Devices, Wearables, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Allianz Global Assistance
- American International Group, Inc.
- Amtrust Financial Services, Inc.
- Asurion LLC
- Chubb Limited
- Assurant, Inc.
- SquareTrade, Inc.
- The Warranty Group, Inc.
- Advanced American Auto Warranty Services LLC
- Corporate Warranties India Pvt. Ltd
Highlights of The Extended Warranty Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Standard Protection Plan
- Accidental Protection Plan
- By Application:
- Laptops and PCs
- Mobile Devices
- Wearables
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Extended Warranty Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
An extended warranty is a type of insurance policy that provides additional coverage beyond the standard manufacturer's warranty. Extended warranties are typically offered by retailers or manufacturers and can be purchased in addition to a regular warranty.
Some of the key players operating in the extended warranty market are Allianz Global Assistance, American International Group, Inc., Amtrust Financial Services, Inc., Asurion LLC, Chubb Limited, Assurant, Inc., SquareTrade, Inc., The Warranty Group, Inc., Advanced American Auto Warranty Services LLC, Corporate Warranties India Pvt. Ltd.
The extended warranty market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Extended Warranty Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Extended Warranty Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Extended Warranty Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Extended Warranty Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Extended Warranty Market Size & Forecast, 2018-2028
4.5.1 Extended Warranty Market Size and Y-o-Y Growth
4.5.2 Extended Warranty Market Absolute $ Opportunity
Chapter 5 Global Extended Warranty Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Extended Warranty Market Size Forecast by Type
5.2.1 Standard Protection Plan
5.2.2 Accidental Protection Plan
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Extended Warranty Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Extended Warranty Market Size Forecast by Applications
6.2.1 Laptops and PCs
6.2.2 Mobile Devices
6.2.3 Wearables
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Extended Warranty Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Extended Warranty Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Extended Warranty Analysis and Forecast
9.1 Introduction
9.2 North America Extended Warranty Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Extended Warranty Market Size Forecast by Type
9.6.1 Standard Protection Plan
9.6.2 Accidental Protection Plan
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Extended Warranty Market Size Forecast by Applications
9.10.1 Laptops and PCs
9.10.2 Mobile Devices
9.10.3 Wearables
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Extended Warranty Analysis and Forecast
10.1 Introduction
10.2 Europe Extended Warranty Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Extended Warranty Market Size Forecast by Type
10.6.1 Standard Protection Plan
10.6.2 Accidental Protection Plan
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Extended Warranty Market Size Forecast by Applications
10.10.1 Laptops and PCs
10.10.2 Mobile Devices
10.10.3 Wearables
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Extended Warranty Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Extended Warranty Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Extended Warranty Market Size Forecast by Type
11.6.1 Standard Protection Plan
11.6.2 Accidental Protection Plan
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Extended Warranty Market Size Forecast by Applications
11.10.1 Laptops and PCs
11.10.2 Mobile Devices
11.10.3 Wearables
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Extended Warranty Analysis and Forecast
12.1 Introduction
12.2 Latin America Extended Warranty Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Extended Warranty Market Size Forecast by Type
12.6.1 Standard Protection Plan
12.6.2 Accidental Protection Plan
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Extended Warranty Market Size Forecast by Applications
12.10.1 Laptops and PCs
12.10.2 Mobile Devices
12.10.3 Wearables
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Extended Warranty Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Extended Warranty Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Extended Warranty Market Size Forecast by Type
13.6.1 Standard Protection Plan
13.6.2 Accidental Protection Plan
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Extended Warranty Market Size Forecast by Applications
13.10.1 Laptops and PCs
13.10.2 Mobile Devices
13.10.3 Wearables
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Extended Warranty Market: Competitive Dashboard
14.2 Global Extended Warranty Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Allianz Global Assistance
14.3.2 American International Group, Inc.
14.3.3 Amtrust Financial Services, Inc.
14.3.4 Asurion LLC
14.3.5 Chubb Limited
14.3.6 Assurant, Inc.
14.3.7 SquareTrade, Inc.
14.3.8 The Warranty Group, Inc.
14.3.9 Advanced American Auto Warranty Services LLC
14.3.10 Corporate Warranties India Pvt. Ltd
