U.S. Extended Warranty Market By Coverage Type (Standard Protection Plan and Accidental Protection Plan), Distribution Channel (Manufacturers, Retailers, and Others), End User (Business and Individuals), Device Type (Automobiles, Consumer Electronics, Home Appliances, Mobile Devices & PCs, and Others) and Service Type (Home Warranty, Auto Warranty, Enterprise Equipment Warranty, and Others): U.S. Opportunity Analysis and Industry Forecast, 2020–2028
- ALL4621782
- 140 Pages
- July 2021
- BFSI
Extended warranties are much like insurance products. They are underwritten, often by the same large insurance companies from whom consumers and businesses purchase life and property insurance. The insurers must 'reserve' funds to pay for forecasted claimable events, such as the failure of an appliance.
It covers the cost of replacement, repair, breaking down of the product, and undertakes other coverages 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.
The U.S. extended warranty market is expected to exhibit robust growth during the forecast period. The key factors impacting the growth of the market include increased awareness for extended warranty, rise in penetration of laptops, smartphones, and tablets. In addition, rise in need for advanced promotional strategies, and growth associated with e-commerce industry drives the growth of the U.S. extended warranty market. Furthermore, decline in sale of PCs is the major restraint that hinder the growth of the market. Moreover, innovative services offered by major extended warranty players, and rise in demand for extended warranty coverage in automobiles are expected to boost the market growth in the future. However, each of these factors is anticipated to have a definite impact on the overall market growth during the forecast period.
The U.S. market is segmented into coverage type, distribution channel, end user, device type, service type and region. On the basis of coverage type, it is classified into standard protection plan, and accidental protection plan. On the basis of distribution channel, the market is categorized into manufacturers, retailers, and others. As per end user, it is segregated into business, and individuals. By device type, the market is bifurcated into automobiles, consumer electronics, home appliances, mobile devices & PCs, and others. On the basis of service type, the market is bifurcated into home warranty, auto warranty, enterprise equipment warranty and others.
The market players operating in the U.S. extended warranty market include ASSURANT INC., American International Group Inc., AmTrust Financial, Asurion. CARCHEX, CarShield LLC, Endurance Warranty Services LLC, Liberty Bell Auto Protect, Protect My Car, and SquareTrade Inc.
U.S. Extended Warranty Market Key Segments
By Coverage
• Standard Protection Plan
• Accidental Protection Plan
By Distribution Channel
• Manufacturers
• Retailers
• Others
By End User
• Business
• Individuals
By Device Type
• Automobiles
• Consumer Electronics
• Home Appliances
• Mobile Devices & PCs
• Others
By Service Type
• Home Warranty
• Auto Warranty
• Enterprise Equipment Warranty
• Others
Key Market Players
• ASSURANT INC.
• American International Group Inc.
• AmTrust Financial
• Asurion
• CARCHEX
• CarShield LLC
• Endurance WarrantyServices LLC
• Liberty Bell Auto Protect
• Protect My Car
• SQUARETRADE Inc.
1.1.REPORT DESCRIPTION
1.2.KEY BENEFITS FOR STAKEHOLDERS
1.3.KEY MARKET SEGMENTS
1.4.RESEARCH METHODOLOGY
1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools & models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.KEY FINDINGS
2.1.1.Top impacting factors
2.1.2.Top investment pockets
2.2.CXO PERSPECTIVE
CHAPTER 3:MARKET OVERVIEW
3.1.MARKET DEFINITION AND SCOPE
3.2.KEY FORCES SHAPING U.S. EXTENDED WARRANTY MARKET
3.3.MARKET DYNAMICS
3.3.1.Drivers
3.3.1.1.High adoption of smartphones
3.3.1.2.Increase demand for extended warranties
3.3.2.Restraints
3.3.2.1.Decline in sale of PCs
3.3.3.Opportunities
3.3.3.1.Surge in demand for innovative products
3.4.COVID-19 IMPACT ANALYSIS ON U.S. EXTENDED WARRANTY MARKET
3.4.1.Impact on market size
3.4.2.Consumer trends, preferences, and budget impact
3.4.3.Economic impact
3.4.4.Strategies to tackle negative impact
3.4.5.Opportunity window
CHAPTER 4:U.S. EXTENDED WARRANTY MARKET, BY TYPE
4.1.OVERVIEW
4.2.STANDARD PROTECTION PLAN
4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region
4.3.ACCIDENTAL PROTECTION PLAN
4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region
CHAPTER 5:U.S. EXTENDED WARRANTY MARKET, BY DISTRIBUTION CHANNEL
5.1.OVERVIEW
5.2.MANUFACTURERS
5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region
5.3.RETAILERS
5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region
5.4.OTHERS
5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region
CHAPTER 6:U.S. EXTENDED WARRANTY MARKET, BY END USER
6.1.OVERVIEW
6.2.BUSINESS
6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by region
6.3.INDIVIDUALS
6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by region
CHAPTER 7:U.S. EXTENDED WARRANTY MARKET, BY DEVICE TYPE
7.1.OVERVIEW
7.2.AUTOMOBILES
7.2.1.Key market trends, growth factors, and opportunities
7.2.2.Market size and forecast, by region
7.3.CONSUMER ELECTRONICS
7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market size and forecast, by region
7.4.HOME APPLIANCES
7.4.1.Key market trends, growth factors, and opportunities
7.4.2.Market size and forecast, by region
7.5.MOBILE DEVICES & PCS
7.5.1.Key market trends, growth factors, and opportunities
7.5.2.Market size and forecast, by region
7.6.OTHERS
7.6.1.Key market trends, growth factors, and opportunities
7.6.2.Market size and forecast, by region
CHAPTER 8:U.S. EXTENDED WARRANTY MARKET, BY SERVICE TYPE
8.1.OVERVIEW
8.2.HOME WARRANTY
8.2.1.Key market trends, growth factors, and opportunities
8.2.2.Market size and forecast, by region
8.3.AUTO WARRANTY
8.3.1.Key market trends, growth factors, and opportunities
8.3.2.Market size and forecast, by region
8.4.ENTERPRISE EQUIPMENT WARRANTY
8.4.1.Key market trends, growth factors, and opportunities
8.4.2.Market size and forecast, by region
8.5.OTHERS
8.5.1.Key market trends, growth factors, and opportunities
8.5.2.Market size and forecast, by region
CHAPTER 9:COMPETITIVE LANDSCAPE
9.1.KEY PLAYERS POSITIONING ANALYSIS, 2020
9.2.TOP WINNING STRATEGIES
9.3.COMPETITIVE DASHBOARD
CHAPTER 10:COMPANY PROFILE
10.1.ASSURANT, INC.
10.1.1.Company overview
10.1.2.Key executive
10.1.3.Company snapshot
10.1.4.Operating business segments
10.1.5.Product portfolio
10.1.6.Business performance
10.1.7.Key strategic moves and developments
10.2.AMERICAN INTERNATIONAL GROUP, INC.
10.2.1.Company overview
10.2.2.Key executive
10.2.3.Company snapshot
10.2.4.Operating business segments
10.2.5.Product portfolio
10.2.6.Business performance
10.3.AMTRUST FINANCIAL
10.3.1.Company overview
10.3.2.Key executive
10.3.3.Company snapshot
10.3.4.Product portfolio
10.3.5.Key strategic moves and developments
10.4.ASURION
10.4.1.Company overview
10.4.2.Key executive
10.4.3.Company snapshot
10.4.4.Product portfolio
10.4.5.Key strategic moves and developments
10.5.CARCHEX
10.5.1.Company overview
10.5.2.Key executive
10.5.3.Company snapshot
10.5.4.Product portfolio
10.5.5.Key strategic moves and developments
10.6.CARSHEILD, LLC
10.6.1.Company overview
10.6.2.Key executive
10.6.3.Company snapshot
10.6.4.Product portfolio
10.7.ENDURANCE WARRANTY SERVICES, LLC.
10.7.1.Company overview
10.7.2.Key executive
10.7.3.Company snapshot
10.7.4.Product portfolio
10.7.5.Key strategic moves and developments
10.7.6.Product portfolio
10.8.LIBERTY BELL AUTO PROTECT.
10.8.1.Company overview
10.8.2.Key executive
10.8.3.Company snapshot
10.8.4.Product portfolio
10.9.PROTECT MY CAR
10.9.1.Company overview
10.9.2.Key executive
10.9.3.Company snapshot
10.9.4.Product portfolio
10.10.SQUARETRADE, INC.
10.10.1.Company overview
10.10.2.Key executive
10.10.3.Company snapshot
10.10.4.Product portfolio
10.10.5.Key strategic moves and developments
TABLE 01.U.S. EXTENDED WARRANTY MARKET REVENUE, BY COVERAGE, 2019-2028 ($MILLION)
TABLE 02.U.S. EXTENDED WARRANTY MARKET REVENUE FOR STANDARD PROTECTION PLAN, 2020–2028 ($MILLION)
TABLE 03.U.S. EXTENDED WARRANTY MARKET REVENUE FOR ACCIDENTAL PROTECTION PLAN, 2019-2028 ($MILLION)
TABLE 04.U.S. EXTENDED WARRANTY MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019-2028 ($MILLION)
TABLE 05.U.S. EXTENDED WARRANTY MARKET FOR MANUFACTURERS 2020–2028 ($MILLION)
TABLE 06.U.S. EXTENDED WARRANTY MARKET REVENUE FOR RETAILERS, 2019-2028 ($MILLION)
TABLE 07.U.S. EXTENDED WARRANTY MARKET REVENUE FOR OTHERS, 2019-2028 ($MILLION)
TABLE 08.U.S. EXTENDED WARRANTY MARKET REVENUE, BY END USER, 2020–2028 ($MILLION)
TABLE 09.U.S. EXTENDED WARRANTY MARKET REVENUE FOR BUSINESS, 2020–2028 ($MILLION)
TABLE 10.INDIVIDUALS U.S. EXTENDED WARRANTY MARKET REVENUE, BY REGION, 2020–2028 ($MILLION)
TABLE 11.U.S. EXTENDED WARRANTY MARKET REVENUE, BY DEVICE TYPE, 2019-2028 ($MILLION)
TABLE 12.U.S. EXTENDED WARRANTY MARKET FOR AUTOMOBILES, 2020–2028 ($MILLION)
TABLE 13.U.S. EXTENDED WARRANTY MARKET REVENUE FOR CONSUMER ELECTRONICS, 2019-2028 ($MILLION)
TABLE 14.U.S. EXTENDED WARRANTY MARKET REVENUE FOR HOME APPLIANCES, 2019-2028 ($MILLION)
TABLE 15.U.S. EXTENDED WARRANTY MARKET REVENUE FOR MOBILE DEVICES & PCS, BY REGION 2019-2028 ($MILLION)
TABLE 16.U.S. EXTENDED WARRANTY MARKET REVENUE FOR OTHERS, 2019-2028 ($MILLION)
TABLE 17.U.S. EXTENDED WARRANTY MARKET REVENUE, BY SERVICE TYPE, 2020–2028 ($MILLION)
TABLE 18.BUSINESS U.S. EXTENDED WARRANTY MARKET REVENUE,FOR HOME WARRANTY, 2020–2028 ($MILLION)
TABLE 19.BUSINESS U.S. EXTENDED WARRANTY MARKET REVENUE,FOR AUTO WARRANTY, 2020–2028 ($MILLION)
TABLE 20.BUSINESS U.S. EXTENDED WARRANTY MARKET REVENUE,FOR ENTERPRISE EQUIPMENT WARRANTY, 2020–2028 ($MILLION)
TABLE 21.BUSINESS U.S. EXTENDED WARRANTY MARKET REVENUE,FOR OTHERS, 2020–2028 ($MILLION)
TABLE 22.ASSURANT, INC.: KEY EXECUTIVE
TABLE 23.ASSURANT, INC.: COMPANY SNAPSHOT
TABLE 24.ASSURANT, INC.: OPERATING SEGMENTS
TABLE 25.ASSURANT, INC.: PRODUCT PORTFOLIO
TABLE 26.AMERICAN INTERNATIONAL GROUP, INC.: KEY EXECUTIVE
TABLE 27.AMERICAN INTERNATIONAL GROUP, INC.: COMPANY SNAPSHOT
TABLE 28.AMERICAN INTERNATIONAL GROUP, INC.: OPERATING SEGMENTS
TABLE 29.AMERICAN INTERNATIONAL GROUP, INC: PRODUCT PORTFOLIO
TABLE 30.AMTRUST FINANCIAL: KEY EXECUTIVE
TABLE 31.AMTRUST FINANCIAL: COMPANY SNAPSHOT
TABLE 32.AMTRUST FINANCIAL.: PRODUCT PORTFOLIO
TABLE 33.ASURION: KEY EXECUTIVE
TABLE 34.ASURION: COMPANY SNAPSHOT
TABLE 35.ASURION: PRODUCT PORTFOLIO
TABLE 36.CARCHEX: KEY EXECUTIVE
TABLE 37.CARCHEX: COMPANY SNAPSHOT
TABLE 38.CARCHEX: PRODUCT PORTFOLIO
TABLE 39.CARSHIELD, LLC: KEY EXECUTIVE
TABLE 40.CARSHIELD, LLC: COMPANY SNAPSHOT
TABLE 41.CARSHIELD, LLC: CORPORATION: PRODUCT PORTFOLIO
TABLE 42.ENDURANCE WARRANTY SERVICES, LLC: KEY EXECUTIVE
TABLE 43.ENDURANCE WARRANTY SERVICES, LLC: COMPANY SNAPSHOT
TABLE 44.ENDURANCE WARRANTY SERVICES, LLC: PRODUCT PORTFOLIO
TABLE 45.ESSELUNGA S.P.A.: PRODUCT PORTFOLIO
TABLE 46.LIBERTY BELL AUTO PROTECT: KEY EXECUTIVE
TABLE 47.LIBERTY BELL AUTO PROTECT: COMPANY SNAPSHOT
TABLE 48.LIBERTY BELL AUTO PROTECT.: PRODUCT PORTFOLIO
TABLE 49.PROTECT MY CAR: KEY EXECUTIVE
TABLE 50.PROTECT MY CAR: COMPANY SNAPSHOT
TABLE 51.PROTECT MY CAR: PRODUCT PORTFOLIO
TABLE 52.SQUARETRADE, INC.: KEY EXECUTIVE
TABLE 53.SQUARETRADE, INC.: COMPANY SNAPSHOT
TABLE 54.SQUARETRADE, INC.: PRODUCT PORTFOLIO
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