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Consumer Electronics Extended Warranty Market By Product Types (Laptops & PCs, Mobiles & Tablets, Home Entertainment Devices, Heating & Cooling equipment, Kitchen equipment, Others) By Distribution Channel (Manufacturers, Retailers, Others) By Coverage Types (Standard Protection Plan, Accidental Protection Plan) – Growth, Share, Opportunities & Competitive Analysis, 2023 – 2032

Price: $4999

Published: | Report ID: 12443 | Report Format : PDF

Market Overview

The consumer electronics extended warranty market has experienced significant growth in recent years, a trend expected to continue in the foreseeable future. Extended warranties, also known as service contracts or protection plans, offer consumers additional warranty coverage beyond the manufacturer’s standard warranty. This sector has become increasingly relevant as consumer electronics, from smartphones and tablets to home appliances and entertainment systems, have become central to everyday life. These products not only represent a substantial financial investment for consumers but also play a crucial role in their daily routines, making the extended warranty market more critical than ever.

The consumer electronics extended warranty market is set to grow from USD 126,435.90 million in 2023 to USD 284,978.63 million by 2032, marking a Compound Annual Growth Rate (CAGR) of 9.45%. This surge highlights the rising demand for extended warranties, driven by the increasing complexity and cost of consumer electronics, alongside a greater consumer awareness of repair and replacement expenses.

The market is characterized by a variety of coverage options, ranging from basic protection plans that cover mechanical failures and defects to comprehensive plans that include accidental damage, loss, and theft. Pricing and coverage terms vary widely across products and providers, reflecting the diverse needs and preferences of consumers.

Key Market Drivers

Rising costs and increasing product complexity

The consumer electronics market is undergoing significant changes with the rising costs and increasing complexity of high-end appliances and gadgets. As electronics incorporate more sophisticated features and intricate components, the cost of repairs after the warranty period can escalate. This makes extended warranties an attractive option for consumers looking to safeguard their investments.

Heightened consumer awareness and risk aversion

In today’s market, consumers are more aware than ever of the potential for electronic device breakdowns and malfunctions. This awareness has led to about 28% of consumers purchasing extended warranties on electronics. Such warranties act as a safety net by mitigating the risk of facing unexpected repair costs and are particularly appealing to risk-averse consumers who place a high priority on protecting their investment in valuable electronics.

Manufacturer Strategies and Profit Potential

For manufacturers, extended warranties represent an opportunity to generate lucrative revenue streams beyond the initial sale of products. These warranties are often priced strategically to attract consumers, providing an additional income source for manufacturers with an average profit margin of 50%. Moreover, they encourage responsible product ownership and can result in fewer returns and replacements during the standard warranty period, benefiting both consumers and manufacturers.

Evolving Technologies and Shorter Lifespans

The rapid pace of technological advancements often leads to shorter lifespans for electronic products, prompting consumers to consider extended warranties more seriously. These warranties provide a safety net that bridges the gap between the potential early failure of a product and the release of new technology, ensuring that consumers remain content with their purchases for a longer period of time.

Increased Focus on Value and Convenience

Modern consumers value convenience and a hassle-free experience, aspects that extended warranties can enhance by offering benefits such as priority repairs, door-to-door service, and access to manufacturer-approved technicians. About 60% of extended warranty claims are approved, compared to 85% of manufacturer’s warranty claims, increasing the overall value of the product purchase and appealing to consumers who prioritize an effortless repair process in case of a breakdown.

Emerging Markets and Untapped Potential

The expansion of the consumer electronics market into developing economies presents significant growth opportunities for the extended warranty market. As disposable incomes rise, so does the propensity to purchase high-end electronics, driving the demand for extended warranties. This trend highlights the untapped potential in these markets and underscores the increasing importance of extended warranties in the global consumer electronics industry.

Key Market Restraints

One of the major restraints facing the consumer electronics extended warranty market is the perception of limited value. Many consumers remain skeptical about the actual benefits of extended warranties, viewing them as unnecessary expenses. This skepticism is often fueled by the fine print of warranty contracts, which can exclude common issues or make the claims process cumbersome. Moreover, with the rapid pace of technological advancement, many consumers prefer to upgrade to newer models rather than repair outdated ones, diminishing the perceived value of extended warranties.

Market Opportunities

  1. Technological Integration: Leveraging technology to streamline the claims process and improve customer service can significantly enhance the attractiveness of extended warranties. For example, implementing AI for instant claim processing and using chatbots for customer inquiries can improve the overall customer experience.
  2. Customizable Plans: Offering customizable warranty plans that allow consumers to select coverage based on their specific needs and budget can tap into a broader market segment. For instance, tiered coverage levels and à la carte options for accidental damage or theft protection can cater to diverse consumer preferences.
  3. Expansion into Emerging Markets: Many emerging economies are witnessing a surge in consumer electronics purchases, yet the penetration of extended warranties in these regions is relatively low. Tailoring warranty products to the economic and cultural contexts of these markets presents a significant growth opportunity.
  4. Partnerships with Manufacturers and Retailers: Strengthening partnerships with electronics manufacturers and retailers can facilitate the direct offering of extended warranties at the point of sale, improving convenience for consumers and increasing uptake.
  5. Inclusion of Additional Services: Adding value to extended warranties with additional services, such as tech support, data recovery, and regular maintenance checks, can make these plans more appealing to consumers.
  6. Marketing and Education: Effective marketing strategies that educate consumers on the benefits and coverage specifics of extended warranties can help mitigate skepticism and increase market penetration.
  7. Digital Platforms: Developing easy-to-use digital platforms for purchasing and managing extended warranties can enhance customer engagement and satisfaction, making it easier for consumers to access and use their warranties.

Interesting Facts About the Market

  1. Consumers who have used their extended warranty services once are significantly more likely to renew or purchase warranties for new devices, indicating high customer satisfaction among claimants.
  2. Consumer awareness of extended warranties varies significantly by region and country, with higher awareness in North America and Western Europe compared to emerging markets.
  3. The rise of online sales channels has increased the availability and convenience of purchasing extended warranties, contributing to market growth.
  4. Certain consumer electronics categories, such as smartphones and laptops, have higher rates of extended warranty purchases compared to others like kitchen appliances.
  5. Consumers tend to trust and prefer extended warranties offered directly by manufacturers over third-party providers.
  6. Positive reviews and recommendations from trusted sources can significantly influence consumers’ decisions to purchase extended warranties.
  7. Some providers are exploring subscription-based models for extended warranties, offering continuous coverage for a monthly fee instead of a one-time payment.
  8. The extended warranty market is subject to varying regulations across different jurisdictions, affecting how warranties can be marketed and sold.
  9. Advances in diagnostics and repair technologies have improved the efficiency of warranty service fulfillment, enhancing customer satisfaction.
  10. The growing market for refurbished electronics has created opportunities for extended warranties tailored to these devices, expanding the potential customer base.

Top Leading Players

The market is characterized by a mix of large insurance companies, specialized warranty providers, and electronics manufacturers offering extended warranty services. Some of the top players include

  • Amazon.com Inc.
  • AmTrust Financial
  • ASSURANT Inc.
  • Asurion
  • AXA
  • Go Warranty & Services LLP
  • OneAssist Consumer Solutions Pvt. Ltd.
  • OnPoint Warranty
  • Securranty and SquareTrade Inc.

These companies have established strong brand recognition and extensive service networks, enabling them to offer comprehensive coverage options and efficient claim processing.

Competitive Landscape

The competitive landscape of the consumer electronics extended warranty market is marked by intense competition among insurers, warranty service providers, and manufacturers. Companies compete on factors such as price, coverage options, service quality, and convenience of the claims process. Many players are investing in technology to improve customer experience, including mobile apps for warranty management and AI-driven systems for claims processing. Strategic partnerships with electronics retailers and manufacturers are also a key competitive strategy, allowing companies to offer extended warranties directly to consumers at the point of sale.

Recent Developments:

  • In February 2024, AmTrust revealed shifts in automotive warranty program claim severity as the industry landscape changed gears. They have also been focusing on customer engagement with previous customers.
  • In March 2024, ASSURANT Inc. launched a new AI-powered claims chat bot that can help customers quickly and easily file claims.
  • As of April 2024, Asurion has partnered with electric scooter brand Okinawa Autotech to introduce an extended warranty initiative in India, covering key powertrain components.
  • In June 2024, GoWarranty introduced an innovative product line, including extended warranty plans for various appliances and gadgets. They also launched a new website that offers AMC (Annual Maintenance Contract) services along with thorough extended warranty plans for gadgets and appliances.
  • In July 2024, OneAssist expanded its team with warranty industry veterans. They have also been focusing on enhancing the customer experience.
  • In August 2024, OnPoint Warranty completed a strategic transaction with a private equity vehicle managed by Waterfall Asset Management, LLC (“Waterfall”) and Atalaya Capital Management (“Atalaya”). They have also expanded their team with warranty industry veterans.
  • As of September 2024, Securranty offers custom, comprehensive protection plans with coverage for “why won’t this work” situations, “oops” moments, and “you’ll never believe what happened” incidents.
  • In October 2024, SquareTrade launched a subscription-based extended warranty for electronics, offering accidental damage and malfunction coverage for smartphones, tablets, and laptops.

Segmentation of Global Consumer Electronics Extended Warranty Market-

Global Consumer Electronics Extended Warranty Market – By Product Types

  • Laptops & PCs
  • Mobiles & Tablets
  • Home Entertainment Devices
  • Heating & Cooling equipment
  • Kitchen equipment
  • Others

 Global Consumer Electronics Extended Warranty Market – By Distribution Channel

  • Manufacturers
  • Retailers
  • Others

Global Consumer Electronics Extended Warranty Market – By Coverage Types

  • Standard Protection Plan
  • Accidental Protection Plan

Regional Analysis

North America and Europe are the largest markets for consumer electronics extended warranties, driven by high consumer electronics ownership rates and consumers’ willingness to invest in protection plans. These regions benefit from well-established retail networks and partnerships between warranty providers and electronics manufacturers, facilitating easy access to warranty services for consumers.

Asia-Pacific is the fastest-growing market, fueled by rising disposable incomes, increasing consumer electronics purchases, and expanding retail and online sales channels. Countries like China and India are key growth drivers in the region, with rapidly expanding middle-class populations and growing awareness of warranty products.

Latin America and the Middle East & Africa are emerging markets with significant growth potential. Increasing urbanization, rising consumer spending on electronics, and the growing presence of international warranty providers are expected to drive market expansion in these regions.

Future Outlook

  1. Increased Penetration in Emerging Markets: Continued economic growth in emerging markets is expected to drive increased consumer electronics purchases and, by extension, demand for extended warranties.
  2. Integration with IoT Devices: As the Internet of Things (IoT) continues to expand, extended warranties for connected devices will become more complex and necessary, presenting new opportunities for warranty providers.
  3. Growth of Subscription Models: Subscription-based extended warranties are likely to gain popularity, offering consumers more flexibility and ongoing coverage.
  4. Enhanced Digital Experience: Investments in digital platforms and technologies will continue to improve the purchase and management of extended warranties, enhancing customer satisfaction.
  5. Expansion of Coverage Options: Consumers will demand more customizable and comprehensive coverage options, driving innovation in warranty products.
  6. Increased Focus on Customer Education: Efforts to educate consumers on the benefits and features of extended warranties will be crucial in overcoming skepticism and driving market growth.
  7. Regulatory Evolution: Changes in regulations and consumer protection laws will shape the extended warranty market, potentially opening up new opportunities or imposing constraints.
  8. Adoption of Green Repair Practices: Sustainability concerns will lead to the adoption of eco-friendly repair and replacement practices within the warranty industry.
  9. Collaborations with Fintech Companies: Partnerships with fintech companies could introduce new payment and management solutions for extended warranties.
  10. Technological Innovations in Service Delivery: Continued advancements in technology will streamline warranty service delivery, from diagnostics to repair and replacement processes, further enhancing the value proposition of extended warranties.

Table of Content

Chapter No. 1 :……….. Introduction.. 22

1.1.1.   Report Description. 22

Purpose of the Report. 22

USP & Key Offerings. 22

1.1.2.   Key Benefits for Stakeholders. 22

1.1.3.   Target Audience. 23

1.1.4.   Report Scope   23

1.1.5.   Regional Scope   24

Chapter No. 2 :……….. Executive Summary. 25

2.1.       Consumer Electronics Extended Warranty Market Snapshot. 25

2.1.1.   Global Consumer Electronics Extended Warranty Market, 2018 – 2032 (USD Million). 26

Chapter No. 3 :……….. Geopolitical Crisis Impact Analysis. 27

3.1.       Russia-Ukraine and Israel-Palestine War Impacts. 27

Chapter No. 4 :……….. Consumer Electronics Extended Warranty Market – Industry Analysis  28

4.1.       Introduction   28

4.2.       Market Drivers  29

4.2.1.   Driving Factor 1 Analysis. 29

4.2.2.   Driving Factor 2 Analysis. 30

4.3.       Market Restraints. 31

4.3.1.   Restraining Factor Analysis. 31

4.4.       Market Opportunities. 32

4.4.1.   Market Opportunity Analysis. 32

4.5.       Porter’s Five Forces Analysis. 33

Chapter No. 5 :……….. Analysis Competitive Landscape. 34

5.1.       Company Market Share Analysis – 2023. 34

5.1.1.   Global Consumer Electronics Extended Warranty Market: Company Market Share, by Volume, 2023  34

5.1.2.   Global Consumer Electronics Extended Warranty Market: Company Market Share, by Revenue, 2023  35

5.1.3.   Global Consumer Electronics Extended Warranty Market: Top 6 Company Market Share, by Revenue, 2023  35

5.1.4.   Global Consumer Electronics Extended Warranty Market: Top 3 Company Market Share, by Revenue, 2023  36

5.2.       Global Consumer Electronics Extended Warranty Market Company Revenue Market Share, 2023  37

5.3.       Company Assessment Metrics, 2023. 38

5.3.1.   Stars  38

5.3.2.   Emerging Leaders. 38

5.3.3.   Pervasive Players. 38

5.3.4.   Participants  38

5.4.       Start-ups /SMEs Assessment Metrics, 2023. 38

5.4.1.   Progressive Companies. 38

5.4.2.   Responsive Companies. 38

5.4.3.   Dynamic Companies. 38

5.4.4.   Starting Blocks  38

5.5.       Strategic Developments. 39

5.5.1.   Acquisitions & Mergers. 39

New Product Launch. 39

Regional Expansion. 39

5.6.       Key Players Product Matrix. 40

Chapter No. 6 :……….. PESTEL & Adjacent Market Analysis. 41

6.1.       PESTEL  41

6.1.1.   Political Factors. 41

6.1.2.   Economic Factors. 41

6.1.3.   Social Factors  41

6.1.4.   Technological Factors. 41

6.1.5.   Environmental Factors. 41

6.1.6.   Legal Factors  41

6.2.       Adjacent Market Analysis. 41

Chapter No. 7 :……….. Consumer Electronics Extended Warranty Market – By Product Types Segment Analysis. 42

7.1.       Consumer Electronics Extended Warranty Market Overview, by Product Types Segment. 42

7.1.1.   Consumer Electronics Extended Warranty Market Revenue Share, By Product Types, 2023 & 2032  43

7.1.2.   Consumer Electronics Extended Warranty Market Attractiveness Analysis, By Product Types  44

7.1.3.   Incremental Revenue Growth Opportunity, by Product Types, 2024 – 2032. 44

7.1.4.   Consumer Electronics Extended Warranty Market Revenue, By Product Types, 2018, 2023, 2027 & 2032  45

7.2.       Laptops & PCs  46

7.2.1.   Global Laptops & PCs Consumer Electronics Extended Warranty Market Revenue, By Region, 2018 – 2023 (USD Million)  47

7.2.2.   Global Laptops & PCs Consumer Electronics Extended Warranty Market Revenue, By Region, 2024 – 2032 (USD Million)  47

7.3.       Mobiles & Tablets. 48

7.3.1.   Global Mobiles & Tablets Consumer Electronics Extended Warranty Market Revenue, By Region, 2018 – 2023 (USD Million). 49

7.3.2.   Global Mobiles & Tablets Consumer Electronics Extended Warranty Market Revenue, By Region, 2024 – 2032 (USD Million). 49

7.4.       Home Entertainment Devices. 50

7.4.1.   Global Home Entertainment Devices Consumer Electronics Extended Warranty Market Revenue, By Region, 2018 – 2023 (USD Million). 51

7.4.2.   Global Home Entertainment Devices Consumer Electronics Extended Warranty Market Revenue, By Region, 2024 – 2032 (USD Million). 51

7.5.       Heating & Cooling equipment. 52

7.5.1.   Global Heating & Cooling equipment Consumer Electronics Extended Warranty Market Revenue, By Region, 2018 – 2023 (USD Million). 53

7.5.2.   Global Heating & Cooling equipment Consumer Electronics Extended Warranty Market Revenue, By Region, 2024 – 2032 (USD Million). 53

7.6.       Others  54

7.6.1.   Global Others Consumer Electronics Extended Warranty Market Revenue, By Region, 2018 – 2023 (USD Million)  55

7.6.2.   Global Others Consumer Electronics Extended Warranty Market Revenue, By Region, 2024 – 2032 (USD Million)  55

Chapter No. 8 :……….. Consumer Electronics Extended Warranty Market – By Coverage Types Segment Analysis. 56

8.1.       Consumer Electronics Extended Warranty Market Overview, by Coverage Types Segment  56

8.1.1.   Consumer Electronics Extended Warranty Market Revenue Share, By Coverage Types, 2023 & 2032  57

8.1.2.   Consumer Electronics Extended Warranty Market Attractiveness Analysis, By Coverage Types  58

8.1.3.   Incremental Revenue Growth Opportunity, by Coverage Types, 2024 – 2032. 58

8.1.4.   Consumer Electronics Extended Warranty Market Revenue, By Coverage Types, 2018, 2023, 2027 & 2032  59

8.2.       Standard Protection Plan. 60

8.2.1.   Global Standard Protection Plan Consumer Electronics Extended Warranty Market Revenue, By Region, 2018 – 2023 (USD Million). 61

8.2.2.   Global Standard Protection Plan Consumer Electronics Extended Warranty Market Revenue, By Region, 2024 – 2032 (USD Million). 61

8.3.       Accidental Protection Plan. 62

8.3.1.   Global Accidental Protection Plan Consumer Electronics Extended Warranty Market Revenue, By Region, 2018 – 2023 (USD Million). 63

8.3.2.   Global Accidental Protection Plan Consumer Electronics Extended Warranty Market Revenue, By Region, 2024 – 2032 (USD Million). 63

Chapter No. 9 :……….. Consumer Electronics Extended Warranty Market – By Distribution Channel Segment Analysis. 64

9.1.       Consumer Electronics Extended Warranty Market Overview, by Distribution Channel Segment  64

9.1.1.   Consumer Electronics Extended Warranty Market Revenue Share, By Distribution Channel, 2023 & 2032  65

9.1.2.   Consumer Electronics Extended Warranty Market Attractiveness Analysis, By Distribution Channel 66

9.1.3.   Incremental Revenue Growth Opportunity, by Distribution Channel, 2024 – 2032. 66

9.1.4.   Consumer Electronics Extended Warranty Market Revenue, By Distribution Channel, 2018, 2023, 2027 & 2032  67

9.2.       Manufacturers  68

9.2.1.   Global Manufacturers Consumer Electronics Extended Warranty Market Revenue, By Region, 2018 – 2023 (USD Million)  69

9.2.2.   Global Manufacturers Consumer Electronics Extended Warranty Market Revenue, By Region, 2024 – 2032 (USD Million)  69

9.3.       Retailers  70

9.3.1.   Global Retailers Consumer Electronics Extended Warranty Market Revenue, By Region, 2018 – 2023 (USD Million)  71

9.3.2.   Global Retailers Consumer Electronics Extended Warranty Market Revenue, By Region, 2024 – 2032 (USD Million)  71

9.4.       Others  72

9.4.1.   Global Others Consumer Electronics Extended Warranty Market Revenue, By Region, 2018 – 2023 (USD Million)  73

9.4.2.   Global Others Consumer Electronics Extended Warranty Market Revenue, By Region, 2024 – 2032 (USD Million)  73

Chapter No. 10 :……… Consumer Electronics Extended Warranty Market – Regional Analysis  74

10.1.    Consumer Electronics Extended Warranty Market Overview, by Regional Segments. 74

10.2.    Region   75

10.2.1. Global Consumer Electronics Extended Warranty Market Revenue Share, By Region, 2023 & 2032  75

10.2.2. Consumer Electronics Extended Warranty Market Attractiveness Analysis, By Region. 76

10.2.3. Incremental Revenue Growth Opportunity, by Region, 2024 – 2032. 76

10.2.4. Consumer Electronics Extended Warranty Market Revenue, By Region, 2018, 2023, 2027 & 2032  77

10.2.5. Global Consumer Electronics Extended Warranty Market Revenue, By Region, 2018 – 2023 (USD Million)  78

10.2.6. Global Consumer Electronics Extended Warranty Market Revenue, By Region, 2024 – 2032 (USD Million)  78

10.3.    Product Types  79

10.3.1. Global Consumer Electronics Extended Warranty Market Revenue, By Product Types, 2018 – 2023 (USD Million)  79

10.4.    Global Consumer Electronics Extended Warranty Market Revenue, By Product Types, 2024 – 2032 (USD Million)  79

10.5.    Coverage Types. 80

10.5.1. Global Consumer Electronics Extended Warranty Market Revenue, By Coverage Types, 2018 – 2023 (USD Million)  80

10.5.2. Global Consumer Electronics Extended Warranty Market Revenue, By Coverage Types, 2024 – 2032 (USD Million)  80

10.6.    Distribution Channel 81

10.6.1. Global Consumer Electronics Extended Warranty Market Revenue, By Distribution Channel, 2018 – 2023 (USD Million)  81

10.6.2. Global Consumer Electronics Extended Warranty Market Revenue, By Distribution Channel, 2024 – 2032 (USD Million)  81

Chapter No. 11 :……… Consumer Electronics Extended Warranty Market – North America   82

11.1.    North America  82

11.1.1. Key Highlights  82

11.1.2. North America Consumer Electronics Extended Warranty Market Revenue, By Country, 2018 – 2023 (USD Million)  83

11.1.3. North America Consumer Electronics Extended Warranty Market Revenue, By Product Types, 2018 – 2023 (USD Million)  84

11.1.4. North America Consumer Electronics Extended Warranty Market Revenue, By Coverage Types, 2018 – 2023 (USD Million). 85

11.1.5. North America Consumer Electronics Extended Warranty Market Revenue, By Distribution Channel, 2018 – 2023 (USD Million). 86

11.2.    U.S. 87

11.3.    Canada  87

11.4.    Mexico   87

Chapter No. 12 :……… Consumer Electronics Extended Warranty Market – Europe  88

12.1.    Europe   88

12.1.1. Key Highlights  88

12.1.2. Europe Consumer Electronics Extended Warranty Market Revenue, By Country, 2018 – 2023 (USD Million)  89

12.1.3. Europe Consumer Electronics Extended Warranty Market Revenue, By Product Types, 2018 – 2023 (USD Million)  90

12.1.4. Europe Consumer Electronics Extended Warranty Market Revenue, By Coverage Types, 2018 – 2023 (USD Million)  91

12.1.5. Europe Consumer Electronics Extended Warranty Market Revenue, By Distribution Channel, 2018 – 2023 (USD Million)  92

12.2.    UK   93

12.3.    France   93

12.4.    Germany  93

12.5.    Italy  93

12.6.    Spain   93

12.7.    Russia  93

12.8.    Belgium    93

12.9.    Netherland   93

12.10.  Austria  93

12.11.  Sweden   93

12.12.  Poland   93

12.13.  Denmark  93

12.14.  Switzerland   93

12.15.  Rest of Europe   93

Chapter No. 13 :……… Consumer Electronics Extended Warranty Market – Asia Pacific  94

13.1.    Asia Pacific  94

13.1.1. Key Highlights  94

13.1.2. Asia Pacific Consumer Electronics Extended Warranty Market Revenue, By Country, 2018 – 2023 (USD Million)  95

13.1.3. Asia Pacific Consumer Electronics Extended Warranty Market Revenue, By Product Types, 2018 – 2023 (USD Million)  96

13.1.4. Asia Pacific Consumer Electronics Extended Warranty Market Revenue, By Coverage Types, 2018 – 2023 (USD Million)  97

13.1.5. Asia Pacific Consumer Electronics Extended Warranty Market Revenue, By Distribution Channel, 2018 – 2023 (USD Million). 98

13.2.    China  99

13.3.    Japan   99

13.4.    South Korea  99

13.5.    India  99

13.6.    Australia  99

13.7.    Thailand   99

13.8.    Indonesia  99

13.9.    Vietnam    99

13.10.  Malaysia  99

13.11.  Philippines  99

13.12.  Taiwan   99

13.13.  Rest of Asia Pacific. 99

Chapter No. 14 :……… Consumer Electronics Extended Warranty Market – Latin America   100

14.1.    Latin America  100

14.1.1. Key Highlights  100

14.1.2. Latin America Consumer Electronics Extended Warranty Market Revenue, By Country, 2018 – 2023 (USD Million)  101

14.1.3. Latin America Consumer Electronics Extended Warranty Market Revenue, By Product Types, 2018 – 2023 (USD Million)  102

14.1.4. Latin America Consumer Electronics Extended Warranty Market Revenue, By Coverage Types, 2018 – 2023 (USD Million)  103

14.1.5. Latin America Consumer Electronics Extended Warranty Market Revenue, By Distribution Channel, 2018 – 2023 (USD Million). 104

14.2.    Brazil 105

14.3.    Argentina  105

14.4.    Peru   105

14.5.    Chile   105

14.6.    Colombia  105

14.7.    Rest of Latin America. 105

Chapter No. 15 :……… Consumer Electronics Extended Warranty Market – Middle East  106

15.1.    Middle East  106

15.1.1. Key Highlights  106

15.1.2. Middle East Consumer Electronics Extended Warranty Market Revenue, By Country, 2018 – 2023 (USD Million)  107

15.1.3. Middle East Consumer Electronics Extended Warranty Market Revenue, By Product Types, 2018 – 2023 (USD Million)  108

15.1.4. Middle East Consumer Electronics Extended Warranty Market Revenue, By Coverage Types, 2018 – 2023 (USD Million)  109

15.1.5. Middle East Consumer Electronics Extended Warranty Market Revenue, By Distribution Channel, 2018 – 2023 (USD Million). 110

15.2.    UAE  111

15.3.    KSA   111

15.4.    Israel 111

15.5.    Turkey  111

15.6.    Iran   111

15.7.    Rest of Middle East. 111

Chapter No. 16 :……… Consumer Electronics Extended Warranty Market – Africa.. 112

16.1.    Africa  112

16.1.1. Key Highlights  112

16.1.2. Africa Consumer Electronics Extended Warranty Market Revenue, By Country, 2018 – 2023 (USD Million)  113

16.1.3. Africa Consumer Electronics Extended Warranty Market Revenue, By Product Types, 2018 – 2023 (USD Million)  114

16.1.4. Africa Consumer Electronics Extended Warranty Market Revenue, By Coverage Types, 2018 – 2023 (USD Million)  115

16.1.5. Africa Consumer Electronics Extended Warranty Market Revenue, By Distribution Channel, 2018 – 2023 (USD Million)  116

16.2.    Egypt  117

16.3.    Nigeria  117

16.4.    Algeria  117

16.5.    Morocco   117

16.6.    Rest of Africa  117

Chapter No. 17 :……… Company Profiles. 118

17.1.    Amazon.com Inc. 118

17.1.1. Company Overview.. 118

17.1.2. Product Portfolio. 118

17.1.3. Swot Analysis  118

17.1.4. Business Strategy. 119

17.1.5. Financial Overview.. 119

17.2.    AmTrust Financial 120

17.3.    ASSURANT Inc. 120

17.4.    Asurion   120

17.5.    AXA   120

17.6.    Go Warranty & Services LLP. 120

17.7.    OneAssist Consumer Solutions Pvt. Ltd. 120

17.8.    OnPoint Warranty. 120

17.9.    Securranty and SquareTrade Inc. 120

Chapter No. 18 :……… Research Methodology. 121

18.1.    Research Methodology. 121

18.1.1. Phase I – Secondary Research. 122

18.1.2. Phase II – Data Modeling. 122

Company Share Analysis Model 123

Revenue Based Modeling. 123

18.1.3. Phase III – Primary Research. 124

18.1.4. Research Limitations. 125

Assumptions. 125

 

List of Figures

FIG NO. 1……….. Global Consumer Electronics Extended Warranty Market Revenue, 2018 – 2032 (USD Million) 26

FIG NO. 2……….. Porter’s Five Forces Analysis for Global Consumer Electronics Extended Warranty Market 33

FIG NO. 3……….. Company Share Analysis, 2023. 34

FIG NO. 4……….. Company Share Analysis, 2023. 35

FIG NO. 5……….. Company Share Analysis, 2023. 35

FIG NO. 6……….. Company Share Analysis, 2023. 36

FIG NO. 7……….. Consumer Electronics Extended Warranty Market – Company Revenue Market Share, 2023. 37

FIG NO. 8……….. Consumer Electronics Extended Warranty Market Revenue Share, By Product Types, 2023 & 2032  43

FIG NO. 9……….. Market Attractiveness Analysis, By Product Types. 44

FIG NO. 10……… Incremental Revenue Growth Opportunity by Product Types, 2024 – 2032. 44

FIG NO. 11……… Consumer Electronics Extended Warranty Market Revenue, By Product Types, 2018, 2023, 2027 & 2032  45

FIG NO. 12……… Global Consumer Electronics Extended Warranty Market for Laptops & PCs, Revenue (USD Million) 2018 – 2032. 46

FIG NO. 13……… Global Consumer Electronics Extended Warranty Market for Mobiles & Tablets, Revenue (USD Million) 2018 – 2032. 48

FIG NO. 14……… Global Consumer Electronics Extended Warranty Market for Home Entertainment Devices, Revenue (USD Million) 2018 – 2032. 50

FIG NO. 15……… Global Consumer Electronics Extended Warranty Market for Heating & Cooling equipment, Revenue (USD Million) 2018 – 2032. 52

FIG NO. 16……… Global Consumer Electronics Extended Warranty Market for Others, Revenue (USD Million) 2018 – 2032  54

FIG NO. 17……… Consumer Electronics Extended Warranty Market Revenue Share, By Coverage Types, 2023 & 2032  57

FIG NO. 18……… Market Attractiveness Analysis, By Coverage Types. 58

FIG NO. 19……… Incremental Revenue Growth Opportunity by Coverage Types, 2024 – 2032. 58

FIG NO. 20……… Consumer Electronics Extended Warranty Market Revenue, By Coverage Types, 2018, 2023, 2027 & 2032  59

FIG NO. 21……… Global Consumer Electronics Extended Warranty Market for Standard Protection Plan, Revenue (USD Million) 2018 – 2032. 60

FIG NO. 22……… Global Consumer Electronics Extended Warranty Market for Accidental Protection Plan, Revenue (USD Million) 2018 – 2032. 62

FIG NO. 23……… Consumer Electronics Extended Warranty Market Revenue Share, By Distribution Channel, 2023 & 2032  65

FIG NO. 24……… Market Attractiveness Analysis, By Distribution Channel 66

FIG NO. 25……… Incremental Revenue Growth Opportunity by Distribution Channel, 2024 – 2032. 66

FIG NO. 26……… Consumer Electronics Extended Warranty Market Revenue, By Distribution Channel, 2018, 2023, 2027 & 2032. 67

FIG NO. 27……… Global Consumer Electronics Extended Warranty Market for Manufacturers, Revenue (USD Million) 2018 – 2032. 68

FIG NO. 28……… Global Consumer Electronics Extended Warranty Market for Retailers, Revenue (USD Million) 2018 – 2032  70

FIG NO. 29……… Global Consumer Electronics Extended Warranty Market for Others, Revenue (USD Million) 2018 – 2032  72

FIG NO. 30……… Global Consumer Electronics Extended Warranty Market Revenue Share, By Region, 2023 & 2032  75

FIG NO. 31……… Market Attractiveness Analysis, By Region. 76

FIG NO. 32……… Incremental Revenue Growth Opportunity by Region, 2024 – 2032. 76

FIG NO. 33……… Consumer Electronics Extended Warranty Market Revenue, By Region, 2018, 2023, 2027 & 2032  77

FIG NO. 34……… North America Consumer Electronics Extended Warranty Market Revenue, 2018 – 2032 (USD Million) 82

FIG NO. 35……… Europe Consumer Electronics Extended Warranty Market Revenue, 2018 – 2032 (USD Million) 88

FIG NO. 36……… Asia Pacific Consumer Electronics Extended Warranty Market Revenue, 2018 – 2032 (USD Million) 94

FIG NO. 37……… Latin America Consumer Electronics Extended Warranty Market Revenue, 2018 – 2032 (USD Million) 100

FIG NO. 38……… Middle East Consumer Electronics Extended Warranty Market Revenue, 2018 – 2032 (USD Million) 106

FIG NO. 39……… Africa Consumer Electronics Extended Warranty Market Revenue, 2018 – 2032 (USD Million) 112

FIG NO. 40……… Research Methodology – Detailed View.. 121

FIG NO. 41……… Research Methodology. 122

 

 

List of Tables

TABLE NO. 1. :…. Global Consumer Electronics Extended Warranty Market: Snapshot 26

TABLE NO. 2. :…. Drivers for the Consumer Electronics Extended Warranty Market: Impact Analysis. 30

TABLE NO. 3. :…. Restraints for the Consumer Electronics Extended Warranty Market: Impact Analysis. 32

TABLE NO. 4. :…. Global Laptops & PCs Consumer Electronics Extended Warranty Market Revenue, By Region, 2018 – 2023 (USD Million) 48

TABLE NO. 5. :…. Global Laptops & PCs Consumer Electronics Extended Warranty Market Revenue, By Region, 2024 – 2032 (USD Million) 48

TABLE NO. 6. :…. Global Mobiles & Tablets Consumer Electronics Extended Warranty Market Revenue, By Region, 2018 – 2023 (USD Million) 50

TABLE NO. 7. :…. Global Mobiles & Tablets Consumer Electronics Extended Warranty Market Revenue, By Region, 2024 – 2032 (USD Million) 50

TABLE NO. 8. :…. Global Home Entertainment Devices Consumer Electronics Extended Warranty Market Revenue, By Region, 2018 – 2023 (USD Million) 52

TABLE NO. 9. :…. Global Home Entertainment Devices Consumer Electronics Extended Warranty Market Revenue, By Region, 2024 – 2032 (USD Million) 52

TABLE NO. 10. :.. Global Heating & Cooling equipment Consumer Electronics Extended Warranty Market Revenue, By Region, 2018 – 2023 (USD Million) 54

TABLE NO. 11. :.. Global Heating & Cooling equipment Consumer Electronics Extended Warranty Market Revenue, By Region, 2024 – 2032 (USD Million) 54

TABLE NO. 12. :.. Global Others Consumer Electronics Extended Warranty Market Revenue, By Region, 2018 – 2023 (USD Million) 56

TABLE NO. 13. :.. Global Others Consumer Electronics Extended Warranty Market Revenue, By Region, 2024 – 2032 (USD Million) 56

TABLE NO. 14. :.. Global Standard Protection Plan Consumer Electronics Extended Warranty Market Revenue, By Region, 2018 – 2023 (USD Million) 62

TABLE NO. 15. :.. Global Standard Protection Plan Consumer Electronics Extended Warranty Market Revenue, By Region, 2024 – 2032 (USD Million) 62

TABLE NO. 16. :.. Global Accidental Protection Plan Consumer Electronics Extended Warranty Market Revenue, By Region, 2018 – 2023 (USD Million) 64

TABLE NO. 17. :.. Global Accidental Protection Plan Consumer Electronics Extended Warranty Market Revenue, By Region, 2024 – 2032 (USD Million) 64

TABLE NO. 18. :.. Global Manufacturers Consumer Electronics Extended Warranty Market Revenue, By Region, 2018 – 2023 (USD Million) 70

TABLE NO. 19. :.. Global Manufacturers Consumer Electronics Extended Warranty Market Revenue, By Region, 2024 – 2032 (USD Million) 70

TABLE NO. 20. :.. Global Retailers Consumer Electronics Extended Warranty Market Revenue, By Region, 2018 – 2023 (USD Million) 72

TABLE NO. 21. :.. Global Retailers Consumer Electronics Extended Warranty Market Revenue, By Region, 2024 – 2032 (USD Million) 72

TABLE NO. 22. :.. Global Others Consumer Electronics Extended Warranty Market Revenue, By Region, 2018 – 2023 (USD Million) 74

TABLE NO. 23. :.. Global Others Consumer Electronics Extended Warranty Market Revenue, By Region, 2024 – 2032 (USD Million) 74

TABLE NO. 24. :.. Global Consumer Electronics Extended Warranty Market Revenue, By Region, 2018 – 2023 (USD Million) 79

TABLE NO. 25. :.. Global Consumer Electronics Extended Warranty Market Revenue, By Region, 2024 – 2032 (USD Million) 79

TABLE NO. 26. :.. Global Consumer Electronics Extended Warranty Market Revenue, By Product Types, 2018 – 2023 (USD Million) 80

TABLE NO. 27. :.. Global Consumer Electronics Extended Warranty Market Revenue, By Product Types, 2024 – 2032 (USD Million) 80

TABLE NO. 28. :.. Global Consumer Electronics Extended Warranty Market Revenue, By Coverage Types, 2018 – 2023 (USD Million) 81

TABLE NO. 29. :.. Global Consumer Electronics Extended Warranty Market Revenue, By Coverage Types, 2024 – 2032 (USD Million) 81

TABLE NO. 30. :.. Global Consumer Electronics Extended Warranty Market Revenue, By Distribution Channel, 2018 – 2023 (USD Million) 82

TABLE NO. 31. :.. Global Consumer Electronics Extended Warranty Market Revenue, By Distribution Channel, 2024 – 2032 (USD Million) 82

TABLE NO. 32. :.. North America Consumer Electronics Extended Warranty Market Revenue, By Country, 2018 – 2023 (USD Million) 84

TABLE NO. 33. :.. North America Consumer Electronics Extended Warranty Market Revenue, By Country, 2024 – 2032 (USD Million) 84

TABLE NO. 34. :.. North America Consumer Electronics Extended Warranty Market Revenue, By Product Types, 2018 – 2023 (USD Million) 85

TABLE NO. 35. :.. North America Consumer Electronics Extended Warranty Market Revenue, By Product Types, 2024 – 2032 (USD Million) 85

TABLE NO. 36. :.. North America Consumer Electronics Extended Warranty Market Revenue, By Coverage Types, 2018 – 2023 (USD Million) 86

TABLE NO. 37. :.. North America Consumer Electronics Extended Warranty Market Revenue, By Coverage Types, 2024 – 2032 (USD Million) 86

TABLE NO. 38. :.. North America Consumer Electronics Extended Warranty Market Revenue, By Distribution Channel, 2018 – 2023 (USD Million) 87

TABLE NO. 39. :.. North America Consumer Electronics Extended Warranty Market Revenue, By Distribution Channel, 2024 – 2032 (USD Million) 87

TABLE NO. 40. :.. Europe Consumer Electronics Extended Warranty Market Revenue, By Country, 2018 – 2023 (USD Million) 90

TABLE NO. 41. :.. Europe Consumer Electronics Extended Warranty Market Revenue, By Country, 2024 – 2032 (USD Million) 90

TABLE NO. 42. :.. Europe Consumer Electronics Extended Warranty Market Revenue, By Product Types, 2018 – 2023 (USD Million) 91

TABLE NO. 43. :.. Europe Consumer Electronics Extended Warranty Market Revenue, By Product Types, 2024 – 2032 (USD Million) 91

TABLE NO. 44. :.. Europe Consumer Electronics Extended Warranty Market Revenue, By Coverage Types, 2018 – 2023 (USD Million) 92

TABLE NO. 45. :.. Europe Consumer Electronics Extended Warranty Market Revenue, By Coverage Types, 2024 – 2032 (USD Million) 92

TABLE NO. 46. :.. Europe Consumer Electronics Extended Warranty Market Revenue, By Distribution Channel, 2018 – 2023 (USD Million) 93

TABLE NO. 47. :.. Europe Consumer Electronics Extended Warranty Market Revenue, By Distribution Channel, 2024 – 2032 (USD Million) 93

TABLE NO. 48. :.. Asia Pacific Consumer Electronics Extended Warranty Market Revenue, By Country, 2018 – 2023 (USD Million) 96

TABLE NO. 49. :.. Asia Pacific Consumer Electronics Extended Warranty Market Revenue, By Country, 2024 – 2032 (USD Million) 96

TABLE NO. 50. :.. Asia Pacific Consumer Electronics Extended Warranty Market Revenue, By Product Types, 2018 – 2023 (USD Million) 97

TABLE NO. 51. :.. Asia Pacific Consumer Electronics Extended Warranty Market Revenue, By Product Types, 2024 – 2032 (USD Million) 97

TABLE NO. 52. :.. Asia Pacific Consumer Electronics Extended Warranty Market Revenue, By Coverage Types, 2018 – 2023 (USD Million) 98

TABLE NO. 53. :.. Asia Pacific Consumer Electronics Extended Warranty Market Revenue, By Coverage Types, 2024 – 2032 (USD Million) 98

TABLE NO. 54. :.. Asia Pacific Consumer Electronics Extended Warranty Market Revenue, By Distribution Channel, 2018 – 2023 (USD Million) 99

TABLE NO. 55. :.. Asia Pacific Consumer Electronics Extended Warranty Market Revenue, By Distribution Channel, 2024 – 2032 (USD Million) 99

TABLE NO. 56. :.. Latin America Consumer Electronics Extended Warranty Market Revenue, By Country, 2018 – 2023 (USD Million) 102

TABLE NO. 57. :.. Latin America Consumer Electronics Extended Warranty Market Revenue, By Country, 2024 – 2032 (USD Million) 102

TABLE NO. 58. :.. Latin America Consumer Electronics Extended Warranty Market Revenue, By Product Types, 2018 – 2023 (USD Million) 103

TABLE NO. 59. :.. Latin America Consumer Electronics Extended Warranty Market Revenue, By Product Types, 2024 – 2032 (USD Million) 103

TABLE NO. 60. :.. Latin America Consumer Electronics Extended Warranty Market Revenue, By Coverage Types, 2018 – 2023 (USD Million) 104

TABLE NO. 61. :.. Latin America Consumer Electronics Extended Warranty Market Revenue, By Coverage Types, 2024 – 2032 (USD Million) 104

TABLE NO. 62. :.. Latin America Consumer Electronics Extended Warranty Market Revenue, By Distribution Channel, 2018 – 2023 (USD Million) 105

TABLE NO. 63. :.. Latin America Consumer Electronics Extended Warranty Market Revenue, By Distribution Channel, 2024 – 2032 (USD Million) 105

TABLE NO. 64. :.. Middle East Consumer Electronics Extended Warranty Market Revenue, By Country, 2018 – 2023 (USD Million) 108

TABLE NO. 65. :.. Middle East Consumer Electronics Extended Warranty Market Revenue, By Country, 2024 – 2032 (USD Million) 108

TABLE NO. 66. :.. Middle East Consumer Electronics Extended Warranty Market Revenue, By Product Types, 2018 – 2023 (USD Million) 109

TABLE NO. 67. :.. Middle East Consumer Electronics Extended Warranty Market Revenue, By Product Types, 2024 – 2032 (USD Million) 109

TABLE NO. 68. :.. Middle East Consumer Electronics Extended Warranty Market Revenue, By Coverage Types, 2018 – 2023 (USD Million) 110

TABLE NO. 69. :.. Middle East Consumer Electronics Extended Warranty Market Revenue, By Coverage Types, 2024 – 2032 (USD Million) 110

TABLE NO. 70. :.. Middle East Consumer Electronics Extended Warranty Market Revenue, By Distribution Channel, 2018 – 2023 (USD Million) 111

TABLE NO. 71. :.. Middle East Consumer Electronics Extended Warranty Market Revenue, By Distribution Channel, 2024 – 2032 (USD Million) 111

TABLE NO. 72. :.. Africa Consumer Electronics Extended Warranty Market Revenue, By Country, 2018 – 2023 (USD Million) 114

TABLE NO. 73. :.. Africa Consumer Electronics Extended Warranty Market Revenue, By Country, 2024 – 2032 (USD Million) 114

TABLE NO. 74. :.. Africa Consumer Electronics Extended Warranty Market Revenue, By Product Types, 2018 – 2023 (USD Million) 115

TABLE NO. 75. :.. Africa Consumer Electronics Extended Warranty Market Revenue, By Product Types, 2024 – 2032 (USD Million) 115

TABLE NO. 76. :.. Africa Consumer Electronics Extended Warranty Market Revenue, By Coverage Types, 2018 – 2023 (USD Million) 116

TABLE NO. 77. :.. Africa Consumer Electronics Extended Warranty Market Revenue, By Coverage Types, 2024 – 2032 (USD Million) 116

TABLE NO. 78. :.. Africa Consumer Electronics Extended Warranty Market Revenue, By Distribution Channel, 2018 – 2023 (USD Million) 117

TABLE NO. 79. :.. Africa Consumer Electronics Extended Warranty Market Revenue, By Distribution Channel, 2024 – 2032 (USD Million) 117

 

 

Frequently Asked Questions

What is an extended warranty in the consumer electronics sector?

An extended warranty, also known as a service contract or protection plan, provides additional warranty coverage beyond the manufacturer’s standard warranty period for consumer electronics. This includes everything from smartphones and tablets to home appliances and entertainment systems, offering peace of mind and protection against unforeseen repair or replacement costs.

Why is the extended warranty market growing so rapidly?

The market for consumer electronics extended warranties is experiencing significant growth, projected to rise from USD 126,435.90 million in 2023 to USD 284,978.63 million by 2032, at a CAGR of 9.45%. This growth is driven by the increasing complexity and cost of consumer electronics, which raises the potential expense of repairs or replacements. Additionally, there is a greater consumer awareness of these potential costs, making extended warranties an appealing option for many.

What types of coverage do extended warranties offer?

Extended warranties in the consumer electronics market offer a range of coverage options, from basic plans that cover mechanical failures and defects to comprehensive plans that include accidental damage, loss, and theft. The specifics of coverage, including pricing and terms, vary widely depending on the product and the provider, allowing consumers to choose the best option for their needs.

What are the key factors driving the demand for extended warranties?

Several key factors are driving the demand for extended warranties. Rising costs and increasing complexity of electronics mean that post-warranty repairs can be expensive, making extended warranties a wise investment. Additionally, heightened consumer awareness of the risks associated with device breakdowns and malfunctions, along with a significant portion of consumers (about 28%) already purchasing extended warranties, indicates a growing market fueled by consumer desire to protect their investments against unexpected costs.

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