Strategic Forecast for the Home Warranty Service Industry: Market Outlook 2025-2034

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Home Warranty Service Market Size Growth Forecast: What to Expect by 2025?
The market size of the home warranty service has seen a robust growth in the last few years. The market, projected to escalate from $8.47 billion in 2024 to $9.13 billion in 2025, is expected to exhibit a compound annual growth rate (CAGR) of 7.7%. The historical growth of this market is attributable to elements such as a rise in home ownership, the intricacy of home systems, heightened consumer awareness, economic considerations, and an aging housing inventory.

How Will the Home Warranty Service Market Size Evolve and Grow by 2029?
The market size of home warranty services is projected to witness substantial expansion in the coming years, rising to a value of $12.18 billion by 2029, with a compound annual growth rate (CAGR) of 7.5%. Several factors driving the growth during the forecast period include the growth of awareness and need for protection plans, the rise of urban living and condominium lifestyle, financial adaptability and strategic budgeting, along with increased customer anticipations and satisfaction levels. Notable forecasts for this period include advancements in mobile applications and online portals, cybersecurity measures for smart devices, remote supervision and management, personalized and flexible plans, and progress in digital platforms and mobile applications.

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What Drivers Are Propelling the Growth of Home Warranty Service Market Forward?
An upward trend in homeownership rates is anticipated to fuel the expansion of the home warranty service market in the future. Owning a home involves maintaining and managing a property that one legally possesses and is often linked to the concept of homeownership. The allure of real estate as a dependable investment is causing an increase in homeownership rates, making home buying more engaging and reachable for a wider demographic. Home warranty services offer homeowners major benefits by covering the costs of repairing and replacing important systems and appliances, ensuring financial security and tranquility. For instance, in May 2023, the National Association of Home Builders, a trade association based in the US, reported a 0.3 percentage point increase in homeownership rates for households aged 35-44 in the first quarter of 2023. Simultaneously, those aged 65 and above witnessed their rates ascend to 78.8% from 78.6% in the previous year. Therefore, the expanding homeownership rates are contributing to the development of the home warranty service market.

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Which Emerging Trends Are Transforming the Home Warranty Service Market in 2025?
Leading companies in the home warranty service market are innovating to incorporate embedded home warranty protection in their range of advanced solutions. This approach aims to streamline customer experience by integrating warranty coverage straight into property transactions. Essentially, an embedded home warranty protection solution provides automatic coverage during property transactions. This means immediate safeguarding of home systems and appliances without necessitating separate contracts. An example of this innovation could be traced back to April 2023, when Sure Inc., a US-based infrastructure and platform distribution developer, introduced its state-of-the-art embedded home warranty protection solution. Designed with digital savvy homeowners and landlords in mind, this new offering enables partners and property management platforms to easily integrate home warranty protection into their existing digital services using Sure's APIs and white-label platform. This integration simplifies the purchasing experience, enabling consumers to secure home warranties in just a few clicks.

What Are the Key Segments in the Home Warranty Service Market?
The home warranty service market covered in this report is segmented -

1) By Type: Home Systems, Appliances, Other Types
2) By Distribution Channel: Direct Sales, Agents Or Brokers, Other Distribution Channel
3) By Application: Residential, Organization

Subsegments:
1) By Home Systems: Heating, Ventilation, And Air Conditioning (HVAC), Plumbing Systems, Electrical Systems, Water Heaters, Ductwork And Ventilation Systems
2) By Appliances: Refrigerators, Dishwashers, Ovens And Stoves, Washing Machines And Dryers, Microwave Ovens, Garbage Disposals
3) By Other Types: Pool And Spa Equipment, Garage Door Openers, Septic Systems, Well Pumps, Pest Control

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Who Are the Key Players Shaping the Home Warranty Service Market's Competitive Landscape?
Major companies operating in the home warranty service market are Transform SR Brands LLC, Old Republic International Corporation, Cross Country Home Services Inc., HomeServe USA Corp., Frontdoor Inc., American Home Shield Corporation, First American Home Warranty Corporation, 2-10 Home Buyers Warranty, Home Buyers Warranty Corporation, Fidelity National Home Warranty Company, OneGuard Home Warranties LLC, Home Warranty of America Inc., Landmark Home Warranty LLC, Liberty Home Guard LLC, ARW Home Services LLC, The Home Service Club Ltd., Platinum Home Warranty LLC, Secure Home Warranty LLC, American Financial Contracting Group Inc., Select Home Warranty LLC, Choice Home Warranty, First Premier Home Warranty, Home Warranty Inc., HomeGuard Home Warranty Inc.

What Geographic Markets Are Powering Growth in the Home Warranty Service Market?
North America was the largest region in the home warranty service market in 2023. The regions covered in the home warranty service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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