Dublin, Oct. 02, 2025 (GLOBE NEWSWIRE) -- The "Extended Warranty Market Growth Analysis - Forecast Trends and Outlook (2025-2034)" report has been added to ResearchAndMarkets.com's offering.
The global extended warranty market attained a value of about USD 128.74 Billion in 2024. The market is further expected to grow in the forecast period of 2025-2034 at a CAGR of 7.00% to reach nearly USD 253.25 Billion by 2034.
As expensive consumer electronics and vehicles are becoming a crucial part of one's lifestyle, the market for extended warranty is flourishing. The increasing requirement of regular maintenance and repair of smartphones and home appliances can cost a hefty amount of nearly one-fifth of the unit price. This is why consumers are opting for an extended warranty on electronic products to prevent unexpected finances, which is propelling the market growth.
In addition, the transferability of extended warranty provided by the leading companies so that the product is covered after being transferred to other owners is also augmenting the industry growth. Moreover, various automotive companies are offering innovative extended warranty solutions to increase their sales and mitigate losses due to the COVID-19 pandemic. This is further invigorating the growth of the extended warranty industry.
The rising demand to extend the product life and get stress-free post-sales experience by value-conscious consumers is increasing the quality of after services offered by many companies. Therefore, companies are providing extended warranty solutions to enhance consumer loyalty, which is significantly contributing to the market growth. As extended warranty can prevent unpredictable financial loss owing to the high costs of repair, it is increasingly adopted by consumers to avoid anxiety. Moreover, additional benefits such as on-site services and hassle-free replacements offered by various companies are augmenting the market growth for extended warranty.
Extended Warranty: Market Segmentation
An extended warranty, variously known as a service contract, is a prolonged warranty that covers the cost of maintenance and repair of a product. It can be offered by manufacturers, retailers, or a third-party service. Extended warranties are generally provided for automobiles and consumer electronics and cover the electronic and mechanical breakdown of the product.
Improvement of After-Sale Services Through Digitisation to Bolster the Growth of the Extended Warranty Industry
The leading companies are digitising extended warranty processes for consumers to file claims for their products with just a click. This eliminates the use of receipts while generating faster and more efficient responses. The rising demand for technical assistance with an extended warranty is leading companies to provide product installation and remote diagnosis in consumer electronics. This is improving extended warranty services, therefore invigorating the industry growth. Furthermore, the introduction of extended warranty solutions, which offer tech refresh options to allow consumers to exchange their electronic devices for the latest model, is increasing the demand for extended warranty, therefore accelerating the market growth.
The integration of artificial intelligence and machine learning to handle queries and claims by chats, phones, and online forms is increasing the demand for extended warranty among businesses and individuals. This is augmenting the market growth. The increasing attempts by manufacturers to prioritise customer services while offering an extended warranty through various initiatives are expected to propel the market growth. The manufacturers are offering transparency of duration and coverage of extended warranty programs to build customer loyalty. This is increasing the demand for extended warranty, hence invigorating the market growth. Moreover, the personalisation of extended warranty with details relevant to consumers' products is anticipated to fuel the industry growth.
Key Industry Players in the Global Extended Warranty Market
- American International Group, Inc.
- AmTrust Financial
- Asurion
- CARCHEX
- CarShield, LLC
- Assurant, Inc.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 176 |
| Forecast Period | 2025 - 2034 |
| Estimated Market Value (USD) in 2025 | $128.74 Billion |
| Forecasted Market Value (USD) by 2034 | $253.25 Billion |
| Compound Annual Growth Rate | 7.0% |
| Regions Covered | Global |
Key Topics Covered:
1 Executive Summary
1.1 Market Size 2024-2025
1.2 Market Growth 2025(F)-2034(F)
1.3 Key Demand Drivers
1.4 Key Players and Competitive Structure
1.5 Industry Best Practices
1.6 Recent Trends and Developments
1.7 Industry Outlook
2 Market Overview and Stakeholder Insights
2.1 Market Trends
2.2 Key Verticals
2.3 Key Regions
2.4 Supplier Power
2.5 Buyer Power
2.6 Key Market Opportunities and Risks
2.7 Key Initiatives by Stakeholders
3 Economic Summary
3.1 GDP Outlook
3.2 GDP Per Capita Growth
3.3 Inflation Trends
3.4 Democracy Index
3.5 Gross Public Debt Ratios
3.6 Balance of Payment (BoP) Position
3.7 Population Outlook
3.8 Urbanisation Trends
4 Country Risk Profiles
4.1 Country Risk
4.2 Business Climate
5 Global Extended Warranty Market Analysis
5.1 Key Industry Highlights
5.2 Global Extended Warranty Historical Market (2018-2024)
5.3 Global Extended Warranty Market Forecast (2025-2034)
5.4 Global Extended Warranty Market by Coverage
5.4.1 Standard Protection Plan
5.4.2 Accidental Protection Plan
5.5 Global Extended Warranty Market by Application
5.5.1 Automobiles
5.5.2 Consumer Electronics
5.5.3 Home Appliances
5.5.4 Mobile Devices and PCs
5.5.5 Others
5.6 Global Extended Warranty Market by Distribution Channel
5.6.1 Manufacturers
5.6.2 Retailers
5.6.3 Others
5.7 Global Extended Warranty Market by End User
5.7.1 Business
5.7.2 Individuals
5.8 Global Extended Warranty Market by Region
5.8.1 North America
5.8.2 Europe
5.8.3 Asia-Pacific
5.8.4 Latin America
5.8.5 Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/cm0hb5
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