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(At 15.2% CAGR) | Consumer Electronics Extended Warranty Market Projected to Reach $198.99 Billion by 2030
Consumer Electronics Extended Warranty Market
๐๐ฅ๐๐ข๐ฆ ๐๐จ๐ฎ๐ซ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ & ๐๐๐:- https://www.alliedmarketresearch.com/request-sample/14617
In addition, manufacturers tend to deal with limited product & brand set to provide extended warranty as the licensing & credentialing requirements largely differ from other insurance coverage. However, consumers face several challenges while dealing with extended warranties. For instance, retailers that do not repair in the store, generally sell extended warranties, which are third-party policies. Therefore, another company handles claim processes, though consumer buys the consumer electronics warranties from retailers.
According to the report published by Allied Market Research, the global consumer electronics extended warranty market was estimated at $48.65 billion in 2020 and is expected to hit $198.99 billion by 2030, registering a CAGR of 15.2% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Increase in awareness for extended warranty and growth in sale of televisions, refrigerators, and washing machines boosts the global consumer electronics extended warranty market growth. On the other hand, decline in sales of PCs restrains the growth to some extent. However, expansion of products and services is expected to create lucrative opportunities in the industry.
COVID-19 Scenario:
Due to lower income level of individuals and disrupted business operations during the pandemic, customers were mainly availing offers of warranty extension for products purchased from authorized offline and online platforms, which in turn impacted the global consumer electronics extended warranty market positively.
This trend is quite likely to persist post pandemic as well.
The global consumer electronics extended warranty market is analyzed across product type, distribution channel, coverage type, and region. Based on product type, the mobiles & tablets segment accounted for nearly one-third of the total market share in 2020, and is expected to rule the roost by 2030. The kitchen equipment segment, however, would garner the fastest CAGR of 18.0% throughout the forecast period.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/14617
Based on distribution channel, the retailers segment contributed to around two-thirds of the total market revenue in 2020, and is projected to lead the trail by 2030. The same segment would also exhibit the fastest CAGR of 14.9% during the forecast period. Based on region, the market across North America held the major share in 2020, garnering around three-fifths of the global market. Asia-Pacific, on the other hand, would manifest the fastest CAGR of 19.1% throughout the forecast period.
๐๐ซ๐จ๐ฆ๐ข๐ง๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ: AmTrust Financial, ASSURANT INC., Go Warranty & Services LLP, OneAssist Consumer Solutions Pvt. Ltd., Amazon.com Inc., OnPoint Warranty, Asurion, AXA, and Securranty. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
๐๐ ๐ฒ๐จ๐ฎ ๐ก๐๐ฏ๐ ๐๐ง๐ฒ ๐ฌ๐ฉ๐๐๐ข๐๐ฅ ๐ซ๐๐ช๐ฎ๐ข๐ซ๐๐ฆ๐๐ง๐ญ๐ฌ, ๐ซ๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง@ https://www.alliedmarketresearch.com/request-for-customization/14617
Key Benefits For Stakeholders
The study provides in-depth analysis of the global consumer electronics extended warranty market share along with current trends and future estimations to illustrate the imminent investment pockets.
Information about key drivers, restrains, and opportunities and their impact analysis on the global consumer electronics extended warranty market size are provided in the report.
Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the consumer electronics extended warranty market.
An extensive analysis of the key segments of the industry helps to understand the consumer electronics extended warranty market trends.
The quantitative analysis of the global consumer electronics extended warranty market forecast from 2021 to 2030 is provided to determine the market potential.
Consumer Electronics Extended Warranty Market Report Highlights
By Product Type
Laptops & PCs
Mobiles & Tablets
Home Entertainment Devices
Heating & Cooling equipment
Kitchen equipment
Refrigerators
Kitchen Appliances
Others
By Distribution Channel
Manufacturers
Retailers
Others
By Coverage Type
Standard Protection Plan
Accidental Protection Plan
By Region
North America (U.S., Canada)
Europe (Germany, UK, France, Italy, Spain, Rest of Europe)
Asia-Pacific (China, India, Japan, Australia, South Korea, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)
๐๐ก๐๐ง๐ค๐ฌ ๐๐จ๐ซ ๐ซ๐๐๐๐ข๐ง๐ ๐ญ๐ก๐ข๐ฌ ๐๐ซ๐ญ๐ข๐๐ฅ๐; ๐ฒ๐จ๐ฎ ๐๐๐ง ๐๐ฅ๐ฌ๐จ ๐ ๐๐ญ ๐ข๐ง๐๐ข๐ฏ๐ข๐๐ฎ๐๐ฅ ๐๐ก๐๐ฉ๐ญ๐๐ซ-๐ฐ๐ข๐ฌ๐ ๐ฌ๐๐๐ญ๐ข๐จ๐ง๐ฌ ๐จ๐ซ ๐ซ๐๐ ๐ข๐จ๐ง-๐ฐ๐ข๐ฌ๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ฏ๐๐ซ๐ฌ๐ข๐จ๐ง๐ฌ ๐ฅ๐ข๐ค๐ ๐๐จ๐ซ๐ญ๐ก ๐๐ฆ๐๐ซ๐ข๐๐, ๐๐๐๐๐, ๐๐ฎ๐ซ๐จ๐ฉ๐, ๐จ๐ซ ๐๐ฌ๐ข๐-๐๐๐๐ข๐๐ข๐.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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