DUBLIN--(BUSINESS WIRE)--The "US, Brazil & India Extended Warranty Market By Coverage, Distribution Channel, End User, and Device Type: Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
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 coverage 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.
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 costly 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 propels 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.
On the contrary, extended warranty providers have numerous opportunities. These include offering value added services to their customers and expanding product & service offerings by executing partnerships. In addition, developing economy like India offer significant opportunities for insurers to expand their business by strengthening policies to support the development of extended warranty in the country. 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 U.S., Brazil & India extended warranty market is segmented into coverage, application, distribution channel, end user, and country. In terms of coverage, it is bifurcated into standard protection plan and accidental protection plan. By application, it is segmented into laptops & PCs, mobiles & tablets, TVs, ACs, washing machines, refrigerators, kitchen appliances, and others. By end user, it is bifurcated into business and individuals. Country-wise, the market is analyzed across U.S., Brazil, and India.
- The study provides in-depth analysis of the global U.S., Brazil & India extended warranty market along with the current trends and future estimations to illustrate the imminent investment pockets.
- Information about key drivers, restrains, & opportunities and their impact analysis on the global U.S., Brazil & India extended warranty market size are 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 U.S., Brazil & India extended warranty market from 2021 to 2030 is provided to determine the market potential.
U.S., Brazil & India Extended Warranty Market Key Segments
- Standard Protection Plan
- Accidental Protection Plan
By Distribution Channel
By End User
By Device Type
- Laptops & PCs
- Mobiles & Tablets
- Washing Machines
- Kitchen Appliances
KEY MARKET Players
- Assurant Inc.
- American International Group Inc.
- AmTrust Financial
- CarShield LLC
- Edel Assurance
- Go Warranty & Services LLP
- SquareTrade Inc
For more information about this report visit https://www.researchandmarkets.com/r/jya7yl
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