Extended Warranty Market Report 2022-2027: Growth, Industry Share and Forecast Analysis

 IMARC Group has recently released a new research study titled "Extended Warranty Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios. 

The global extended warranty market report by IMARC Group, the market reached a value of US$ 121.5 Billion in 2021, and it is projected to reach a value of US$ 182.3 Billion by 2027, exhibiting a CAGR of 6.70% during 2022-2027.

Extended Warranty Definition:

An extended warranty, also known as a service contract, is a policy to extend the warranty period of consumer goods beyond the guarantee offered by the manufacturer. It is designed to cover the repair and maintenance of a product due to manufacturing defects or poor workmanship. It is provided by retailers, manufacturers, and third-party service providers and can cost extra or be sold separately to cover different issues than a warranty. In addition, it provides benefits such as unlimited repairs, minimal cost, flexible duration, comprehensive coverage, and customer satisfaction. Owing to these benefits, extended warranties are offered in several industrial verticals for consumer electronics, home appliances, automobiles, mobile devices, and personal computers. 

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Extended Warranty Market Trends and Drivers:

The market is primarily driven by growing concerns regarding the safety of electronic devices and vehicles after the original warranty expires. In addition, the escalating demand for extended warranty plans on account of several benefits, such as accidental damages, routine maintenance, thefts, cracked screens, liquid spillage, cost-effectiveness, and additional protection, is contributing to the market growth. 

Moreover, the growing consumer inclination toward hassle-free post-sales experience, replacements, on-site services, and digitized extended warranty processes for quick claim settlements are accelerating the product adoption rate. Besides this, the widespread adoption of high-end vehicles and consumer electronics like laptops, wearables, tablets, and smartphones represent another major growth-inducing factor. 

Furthermore, the increasing disposable incomes and rising awareness regarding extended warranty policies among individuals are creating a positive market outlook across the globe.

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Extended Warranty Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the extended warranty market has been studied in the report with the detailed profiles of the key players operating in the market.

Key Market Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

List of  Major Key Players: 

  • Allianz SE
  • American International Group Inc
  • AmTrust Financial
  • Assurant Inc.
  • Asurion LLC
  • Axa S.A.
  • Carchex
  • CarShield LLC
  • Chubb Limited
  • Edel Assurance LLP
  • Endurance Warranty Services LLC
  • SquareTrade Inc (The Allstate Corporation)

The report has segmented the market on the basis of region, coverage, application, distribution channel and end user.

Breakup by Coverage:

• Standard Protection Plan

• Accidental Protection Plan

 Breakup by Application:

• Automobiles

• Consumer Electronics

• Home Appliances

• Mobile Devices and PCs

• Others

 Breakup by Distribution Channel:

• Manufacturers

• Retailers

• Others

 Breakup by End User:

• Individuals

• Business

 Breakup by Region:

• North America

o United States

o Canada

• Asia-Pacific

o China

o Japan

o India

o South Korea

o Australia

o Indonesia

o Others

• Europe

o Germany

o France

o United Kingdom

o Italy

o Spain

o Russia

o Others

• Latin America

o Brazil

o Mexico

o Others

• Middle East and Africa

Ask Analyst for 10% free customized report: https://www.imarcgroup.com/request?type=report&id=5197&flag=C

If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Key highlights of the report:

• Market Performance (2016-2021)

• Market Outlook (2022- 2027)

• Porter’s Five Forces Analysis

• Market Drivers and Success Factors

• SWOT Analysis

• Value Chain

• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

Who we are:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Contact Us:


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Sheridan, WY 82801 USA – Wyoming

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