Dublin, May 09, 2025 (GLOBE NEWSWIRE) -- The "Home Warranty Service Market Opportunities and Strategies to 2034" report has been added to ResearchAndMarkets.com's offering.
This report describes and explains the home warranty service market and covers 2019-2024, termed the historic period and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global home warranty service market reached a value of nearly $9.12 billion in 2024, having grown at a compound annual growth rate (CAGR) of 2.89% since 2019. The market is expected to grow from $9.12 billion in 2024 to $12.5 billion in 2029 at a rate of 6.52%. The market is then expected to grow at a CAGR of 6.63% from 2029 and reach $17.23 billion in 2034.
The global home warranty service market is fairly fragmented, with large number of players operating in the market. The top ten competitors in the market made up to 15.93% of the total market in 2023. First American Home Warranty Corporation was the largest competitor with a 4.86% share of the market, followed by FNHW (Fidelity National Home Warranty) with 2.03%, Frontdoor Inc. with 1.91%, 2-10 Home Buyers Warranty Corporation with 1.67%, American Homes 4 Rent, LP (American Home Shield (AHS)) with 1.51%, Cinch Home Services Inc. with 1.47%, Old Republic International Corporation with 1.35%, Home Warranty of America with 0.42%, Oneguard Home Warranties with 0.36% and Choice Home Warranty with 0.34%.
North America was the largest region in the home warranty service market, accounting for 39.14% or $3.56 billion of the total in 2024. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the home warranty service market will be Asia Pacific and Africa where growth will be at CAGRs of 8.69% and 8.27% respectively. These will be followed by Middle East and South America where the markets are expected to grow at CAGRs of 8.00% and 7.34% respectively.
The home warranty service market is segmented by type into home systems, appliances and other types. The appliances market was the largest segment of the home warranty service market segmented by type, accounting for 48.49% or $4.42 billion of the total in 2024. Going forward, the home systems segment is expected to be the fastest growing segment in the home warranty service market segmented by type, at a CAGR of 6.83% during 2024-2029.
The home warranty service market is segmented by distribution channel into direct sales, agents or brokers and other distribution channels. The direct sales market was the largest segment of the home warranty service market segmented by distribution channel, accounting for 50.44% or $4.6 billion of the total in 2024. Going forward, the agents or brokers segment is expected to be the fastest growing segment in the home warranty service market segmented by distribution channel, at a CAGR of 7.19% during 2024-2029.
The home warranty service market is segmented by application into residential and organization. The residential market was the largest segment of the home warranty service market segmented by application, accounting for 65.23% or $5.94 billion of the total in 2024. Going forward, the residential segment is expected to be the fastest growing segment in the home warranty service market segmented by application, at a CAGR of 6.84% during 2024-2029.
The top opportunities in the home warranty service market segmented by type will arise in the appliances segment, which will gain $1.63 billion of global annual sales by 2029. The top opportunities in the home warranty service market segmented by distribution channel will arise in the direct sales segment, which will gain $1.65 billion of global annual sales by 2029. The top opportunities in the home warranty service market segmented by application will arise in the residential segment, which will gain $2.33 billion of global annual sales by 2029. The home warranty service market size will gain the most in the USA at $901.68 million.
Market-trend-based strategies for the home warranty service market include focus on prioritizing the development of innovative solutions, such as mobile applications for home warranty services, to improve customer experience and optimize service processes, focus on creating innovative solutions, such as modern embedded home warranty protection services that smoothly integrate into the home-buying process, thereby improving customer convenience, focus on prioritizing innovative solutions, including strategic collaborations, to enhance their service offerings, boost customer satisfaction and expand their market presence, focus on developing innovative solutions, such as one-click digital home warranty services, to simplify the process of purchasing and managing home warranty coverage and focus on prioritizing the development of innovative solutions, such as cutting-edge home warranty options, to improve their service offerings, boost customer satisfaction and address the changing demands of homeowners.
Player-adopted strategies in the home warranty service market include focus on strengthening their business expertise through brand expansion and focus on strengthening business expertise through new product developments.
To take advantage of the opportunities, the analyst recommends the home warranty service companies to focus on mobile application development, focus on embedded home warranty solutions, focus on one-click digital home warranty services, focus on innovative home warranty solutions, focus on the home systems segment, expand in emerging markets, continue to focus on developed markets, focus on strategic collaborations, provide competitively priced offerings, continue to use B2B promotions, participate in trade shows and events, focus on agents or brokers segment and focus on the residential segment.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 280 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value (USD) in 2024 | $9.12 Billion |
| Forecasted Market Value (USD) by 2034 | $17.23 Billion |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
Major Market Trends
- Innovative Mobile Applications Enhancing Customer Experience
- Embedded Home Warranty Protection Solutions Enhancing Customer Convenience
- Strategic Collaborations Driving Innovation and Customer-Centric Solutions
- Streamlining Home Warranty Purchases With One-Click Digital Solutions
- Innovative Modern Home Warranty Solutions Redefining Industry Standards
Key Mergers and Acquisitions
- Frontdoor Acquired 2-10 Home Buyers Warranty
- Trucordia Acquired Specialty MGA PWSC
- Super Acquired Platinum Home Warranty
- Choice Home Warranty Acquired Home Warranty of America
Companies Featured
- First American Home Warranty Corporation
- FNHW (Fidelity National Home Warranty)
- Frontdoor Inc.
- 2-10 Home Buyers Warranty Corporation
- American Homes 4 Rent, LP (American Home Shield (AHS)
- Cinch Home Services Inc.
- Old Republic International Corporation
- Home Warranty of America
- Oneguard Home Warranties
- Choice Home Warranty
- HomeServe
- E-Home Household Service Holdings Limited
- Bajaj Finserv
- Edel Assurance
- OneAssist
- GoWarranty
- Samsung
- Master Builders
- HIA Insurance Services
- LIXIL Group Corporation
- Mapfre
- Allianz
- Generali
- AXA
- Credit Mutuel
- BNP Paribas Cardif
- R+V Versicherung
- HUK-Coburg
- Gothaer Versicherungen
- Liberty Home Guard
- Select Home Warranty
- AFC Home Club
- Landmark Home Warranty
- ServicePlus Home Warranty
- Platinum Home Warranty
- The Home Service Club
- ARW Home Services
- Armadillo
- First American Home Warranty
- Professional Warranty Service Corporation
- American Residential Warranty (ARW)
- HSA Home Warranty
- Transform SR Brands LLC
- Cross Country Home Service Inc.
- Home365
- Malath Cooperative
- FirstRand Bank Limited
- International Finance Corporation (IFC)
For more information about this report visit https://www.researchandmarkets.com/r/vik3hd
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