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Worldwide Consumer Electronics Extended Warranty Industry to 2030 - Featuring AmTrust Financial, Asurion and AXA Among Others - ResearchAndMarkets.comThe "Consumer Electronics Extended Warranty Market By Product Type, Distribution Channel, and Coverage Type: Global 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 consumer electronics extended warranty plans. Moreover, consumer electronics 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, consumer electronics 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. Consumers are often worried about safety of their electronic products post expiry of seller's warranty owing to the fact that many products have a hefty price tag associated with them. Therefore, provision of extended warranty also helps in rebuilding customer loyalty and thus increased awareness for extended warranty is propelling the market growth. However, the coverage of consumer electronics extended warranty policy for PC units has reduced, owing to decline in sales of PCs since last few years, which is therefore hampering the market growth. On the contrary, consumer electronics extended warranty providers have numerous opportunities such as to offer alue added services to their customers and expand product & service offerings by executing partnerships. In addition, developing economies offer significant opportunities for insurers to expand their business by strengthening policies to support the development of consumer electronics extended warranty in the region. 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. Key Benefits
Market Dynamics Drivers
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Key Market Segments By Product Type
By Distribution Channel
By Coverage Type
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