According to Our latest research report on “Extended Warranty Market ” highlights the substantial global expansion occurring within this sector. The report encompasses projections for the years leading up to 2031, accompanied by a comprehensive analysis of the market’s current size, prevailing trends, market share, and economic insights.
Extended warranty or service contract is an insurance policy that replicates and extends the warranty period of consumer durable goods by a specified period. It covers the cost of replacement, repair, breaking down of the product, and undertakes other coverages as per terms specified in extended warranty plans. Moreover, extended warranty can be offered by retailers, manufacturers, and other warranty administrators. As it is a prolonged warranty offered to consumers, in addition to standard warranty on new items, extended warranties cost extra based on percentage of the item’s retail price.
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Increase in awareness for extended warranty for brown goods such as laptops, smartphones, and tablets drive the market growth. Owing to the fact that many products have a hefty price tag associated with them, consumers are often worried about safety of their electronic products post expiry of seller;s warranty. Therefore, provision of extended warranty also helps in rebuilding customer loyalty and thus increased awareness for extended warranty is propelling the market growth. However, owing to decline in sales of PCs since last few years, the coverage of extended warranty policy for PC units has reduced, which is therefore hampering the market growth.
Moreover, unit shipment for PCs have declined globally, which limits growth of the extended warranty market. On the contrary, extended warranty providers have numerous opportunities such as to offer value added services to their customers and expand product & service offerings by executing partnerships. In addition, developing economies offer significant opportunities for insurers to expand their business by strengthening policies to support the development of extended warranty in the region. Furthermore, increase in purchases of consumer electronics, home appliances, and wearable devices in emerging economies is also expected to provide lucrative opportunities during the forecast period. The extended warranty market is segmented on the basis of coverage, application, distribution channel, end user, and region. In terms of coverage, it is bifurcated into standard protection plan and accidental protection plan. By application, it is segmented into automobiles, consumer electronics, home appliances, mobile devices & PCs, and others. On the basis of distribution channel, it is segmented into manufacturers, retailers, and others. By end user, it is bifurcated into business and individuals. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key benefits for stakeholders
– The study provides an in-depth analysis of the global extended warranty market along with the current & future trends to elucidate the imminent investment pockets.
– Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
– Porter;s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
– The quantitative analysis of the global extended warranty market from 2020 to 2027 is provided to determine the market potential.
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KEY MARKET PLAYERS
– ASSURANT, INC.
– American International Group, Inc.
– AXA
– AmTrust Financial
– Asurion
– CARCHEX
– CarShield, LLC
– Endurance Warranty Services, LLC
– Edel Assurance
– SquareTrade, Inc.
Key market segments
By Coverage
– Standard Protection Plan
– Accidental Protection Plan
By Application
– Automobiles
– Consumer Electronics
– Home Appliances
– Mobile Devices & PCs
– Others
Distribution Channel
– Manufacturers
– Retailers
– Others
End User
– Business
– Individuals
By Region
– North America
o U.S.
o Canada
– Europe
o Germany
o UK
o France
o Italy
o Spain
o Netherlands
o Rest of Europe
– Asia-Pacific
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia-Pacific
– LAMEA
o Latin America
o Middle East
o Africa
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Table of Contents:
- Introduction and Scope
- Definition and Forecast Parameters
- Methodology and Forecast Parameters
- Information Sources
- Latest Trends Summary
- Regional Trends
- Product Trends
- End-Use Trends
- Business Trends
- Industry Insights
- Industry Fragmentation
- Industry Landscape
- Vendor Matrix
- Technological and Innovative Landscape
- Market by Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
- Company Profiles
- Company Overview
- Financial Elements
- Product Landscape
- SWOT Analysis
- Systematic Outlook
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- This data may be presented in terms of revenue, market share, or other relevant metrics.
- The report may include data on the segmentation of the market based on various factors such as product type, application, end-user industry, and geography.
- This data helps to understand the market dynamics within different segments
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- Data on these challenges and opportunities can inform business decisions and strategies.
- The report may provide data on the market performance and trends in different regions or countries. This can include data on market size, growth rate, and key players in each region.
- Regional data helps to understand market dynamics at a local level.
- The report may include data on consumer behavior, preferences, and buying patterns related to patient engagement solutions.
- This data can provide insights into customer needs and expectations, helping businesses tailor their offerings accordingly.
- The report may provide forecasts for the future of the market based on historical data, market trends, and other factors.
- This data helps stakeholders understand the potential growth and opportunities in the market.
Questions & Answers Market Research/Analysis Report Contains to your following:
- What is the current size of the market and how is it expected to grow in the future?
- What are the key drivers influencing market growth?
- What are the major challenges or constraints faced by market participants?
- What are the emerging trends and opportunities in the market?
- Who are the major competitors in the market and what is their market share?
- What are the key customer segments and their preferences within the market?
- What are the regional or geographic trends and variations within the market?
- What are the regulatory and legal factors impacting the market?
- What are the technological advancements or innovations shaping the market?
- What are the pricing trends and strategies observed in the market?
- What are the distribution channels and their effectiveness in reaching the target market?
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