Growing Concern To Extend Warranty Coverage For Costly Consumer Electronics To Continue Driving The Extended Warranty Market For Consumer Electronics

Growing Concern To Extend Warranty Coverage For Costly Consumer Electronics To Continue Driving The Extended Warranty Market For Consumer Electronics

According to a new market research report published by Credence Research “Extended Warranty Market for Consumer Electronics (Product Type – Laptops & PCs, Mobile Devices, Wearables and Others (Peripherals & Accessories); Warranty Coverage Type – Standard Protection Plan and Accidental Protection Plan) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the global extended warranty market for consumer electronics is estimated to hit US$ 50.2 Bn by 2026.

Browse the full report at  https://www.credenceresearch.com/report/extended-warranty-market-for-consumer-electronics

Market Insights

An extended warranty, also referred to as protection plan, prolongs the warranty period on products for additional years. While new consumer electronics are offered with a manufacturer’s warranty, many consumers choose to purchase an extended warranty to cover the repair costs after their initial warranty has expired. Usually, a manufacturer’s warranty has a validity of one year for a consumer product.

Consumers have the option to buy an extended warranty at any time, even after the expiry of their original manufacturer’s warranty. It generally provides protection against normal wear & tear and product defects. Many of the plans also cover damages sustained in an accident, such as user spilling something onto the device or dropping it. The extended warranty may be offered by the retailer, manufacturer or the warranty administrator and is charged at a percentage of the product’s retail price.

Download Free brochure of research report with TOC and Figures @  https://www.credenceresearch.com/sample-request/59204

The most prominent factor driving the extended warranty market is growing focus on the part of consumers to extend the warranty coverage validity. Consumers are often worried about the safety of their electronic products post expiry of manufacturers or sellers warranty. This concern is due to the fact that many of the products have a hefty price tag associated with it at the time of purchase. Moreover, providing extended warranty also helps in rebuilding customer loyalty.

Increased market competition and rising prices of raw materials continue to imply pressure on profit margins of manufacturers as well as retailers of consumer electronic products. In such competitive environment, extended warranty solutions are continuously evolving and offering new opportunities to match consumers’ demand.

Furthermore, in order to offer value added services to their customers, some of the leading players in the banking, financial services and insurance industry have been incorporating extended warranty solutions into their product offerings. This is helping manufacturers and retailers to gain confidence of buyers and support their profit margins. Thereby, such agreements and partnerships have been working in the favor of the banking solution providers, extended warranty solution providers and the customers as well.

However, declining sales of PCs is one of the factors impacting the extended warranty market negatively. The unit shipment for PCs have been on the decline globally. This decline in the sale of PCs units is expected to limit the growth of extended warranty market.

Download Free brochure of research report with TOC and Figures @  https://www.credenceresearch.com/sample-request/59204

TOC:

Chapter 3 Market Dynamics
3.1 Market Overview
3.1.1 Global Extended Warranty Market for Consumer Electronics Value, 2016 – 2026
3.2 Market Drivers
3.3 Market Challenges
3.3.1 Impact Analysis of Drivers and Restraints
3.4 Key Market Trends and Future Outlook
3.5 Attractive Investment Proposition, by Geography
3.6 Competitive Analysis
3.6.1 Market Positioning of Key Players
3.6.2 Key Strategies Adopted by the Leading Players

Chapter 4 Global Extended Warranty Market for Consumer Electronics Analysis, By Product Type, 2016 – 2026
4.1 Overview
4.2 Laptops & PCs
4.3 Mobile Devices
4.4 Wearables
4.5 Others

Chapter 5 Global Extended Warranty Market for Consumer Electronics Analysis, By Warranty Coverage Type, 2016 – 2026
5.1 Overview
5.2 Standard Protection Plan
5.3 Accidental Protection Plan

Chapter 6 North America Extended Warranty Market for Consumer Electronics Analysis, 2016 – 2026
6.1 Overview
6.2 North America Extended Warranty Market for Consumer Electronics Analysis, By Product Type, 2016 – 2026
6.2.1 Market Analysis
6.3 North America Extended Warranty Market for Consumer Electronics Analysis, By Warranty Coverage Type, 2016 – 2026
6.3.1 Market Analysis
6.4 North America Extended Warranty Market for Consumer Electronics Analysis, By Country, 2016 – 2026
6.4.1 U.S.
6.4.2 Canada…

Chapter 10 Company Profiles
10.1 Allianz Global Assistance
10.2 American International Group, Inc.
10.3 Amtrust Financial Services, Inc.
10.4 Asurion LLC, Chubb Limited
10.5 Assurant, Inc.
10.6 SquareTrade, Inc.
10.7 The Warranty Group, Inc.
10.8 Advanced American Auto Warranty Services LLC
10.9 Corporate Warranties India Pvt. Ltd
10.10 Chubb Limited …

About Us:

Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.

Contact:

Credence Research Inc

Name: Chris Smith (Global Sales Manager)

E-mail: sales@credenceresearch.com

Ph: 1-800-361-8290

Web:  https://www.credenceresearch.com

Facebook Comments

Share this post