The global U.S. extended warranty market has witnessed substantial growth in recent years, and this trend is expected to continue through 2028. A new report provides an in-depth analysis of the U.S. extended warranty market, including market size, share, and sales estimates, as well as key drivers, opportunities, and restraints. The report also evaluates the market extent of North America, Asia-Pacific, Europe, and LAMEA, providing insights into the region-specific trends.
The U.S. extended warranty market size was valued at $48.93 billion in 2019, and is projected to reach $59.52 billion by 2028, growing at a CAGR of 4.6% from 2020 to 2028.
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An extended warranty is a kind of insurance policy which provides coverage for repair and replacement cost of various products such as home appliances, mobile, laptop, devices, cars, and others after the manufacturer’s or retailer’s guarantee has expired.
Market Overview:
The Gadget insurance market report provides valuable insights into the plans and policies adopted by the topmost industry players to maintain their position in the market. The market leaders have been carefully evaluated based on their revenue size, service/product portfolio, regional presence, important plans & policies, and overall market growth contribution. The report also includes an analysis of significant business developments, including the introduction of new product launches, partnerships, mergers & acquisitions, joint ventures, expansion, and others.
Regional Analysis:
The report evaluates the Gadget insurance market extent of North America, Asia-Pacific, Europe, and LAMEA. The North American market includes the USA, Canada, and Mexico. The European market includes France, Spain, Italy, Russia, the UK, Netherlands, Germany, and the Rest of Europe. The Asia-Pacific market includes India, Japan, China, Australia, Singapore, South Korea, and the Rest of Asia-Pacific. The LAMEA market includes Latin America, Africa, and the Middle East.
COVID-19 Impact:
The COVID-19 pandemic had a significant impact on the global economy, including the Gadget insurance market. The report provides a comprehensive analysis of the pandemic’s impact on the market, using micro- and macroeconomic analysis. The study also offers a thorough analysis of the plans and policies that major market players implemented during the lockdown period. With the introduction of vaccines such as Sputnik, Covaxin, and Covishield, the global situation has gotten back to normalcy, and the Gadget insurance market is anticipated to get back on track soon.
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Investment Research:
The Gadget insurance market report also examines upcoming business opportunities across the industry, ensuring that shareholders are fully informed of the current investment prospects of the market. The report provides insights into recent developments and trends, drivers, restraints, and opportunities of the market, leading market players, and their shareholdings, and the COVID-19 impact on the market.
Competitive Landscape:
The market players operating in the U.S. extended warranty industry include ASSURANT INC., American International Group Inc., AmTrust Financial, Asurion, CARCHEX, CarShield LLC, Endurance Warranty Services LLC, Liberty Bell Auto Protect, Protect My Car, and SquareTrade Inc. These key players have adopted various strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to increase their market penetration and strengthen their foothold in the industry.
Key Benefits For Stakeholders
This study includes the U.S. extended warranty market forecast, and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and U.S. extended warranty opportunity.
The U.S. extended warranty market size is quantitatively analyzed from 2020 to 2028 to highlight the financial competency of the industry.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in U.S. extended warranty market.
U.S. Extended Warranty Market Key Segments
By Coverage
Standard Protection Plan
Accidental Protection Plan
By Distribution Channel
Manufacturers
Retailers
Others
By End User
Business
Individuals
By Device Type
Automobiles
Consumer Electronics
Home Appliances
Mobile Devices & PCs
Others
By Service Type
Home Warranty
Auto Warranty
Enterprise Equipment Warranty
Others
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Key Market Players
ASSURANT INC.
American International Group Inc.
AmTrust Financial
Asurion
CARCHEX
CarShield LLC
Endurance WarrantyServices LLC
Liberty Bell Auto Protect
Protect My Car
SQUARETRADE Inc.
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