Extended Warranty Market in US by Device and End-user - Forecast and Analysis 2022-2026

Published: Sep 2022 Pages: 110 SKU: IRTNTR74473

The extended warranty market in US is projected to grow by USD 12.61 billion with a CAGR of 4.55% during the forecast period 2021 to 2026.

This extended warranty market in US research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the extended warranty market in US segmentation by the device (automotive, consumer electronics, home appliances, mobile devices and PCs, and others) and end-user (businesses and individuals). The extended warranty market in US report also offers information on several market vendors, including Allianz Group, American International Group Inc., AmTrust Financial Services Inc., Assurant Inc., Asurion LLC, AXA Group, Carchex LLC, Chubb Ltd., Endurance Warranty Services LLC, and The Allstate Corp. among others.

What will the Extended Warranty Market in US Size be During the Forecast Period?

Download Report Sample to Unlock the Extended Warranty Market in US Size for the Forecast Period and Other Important Statistics

 

Extended Warranty Market in US: Key Drivers, Trends, and Challenges

Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the extended warranty market in US. During the COVID-19 pandemic, the extended warranty market in US demand has been impacted greatly. A holistic analysis of drivers will help in predicting exact demands and refining marketing strategies to gain a competitive advantage.

Key Extended Warranty Market in US Driver

High demand for household appliances is one of the key drivers supporting the US extended warranty market growth. Users can download the relevant apps on mobile devices and connect their appliances through Wi-Fi. The rapidly evolving designs of household appliances will also spur the demand for household appliances in the US. Moreover, buyers of home appliances in the US prefer extended warranties for damage control and for repair services. There are several vendors that provide extended warranties in the US. Thus, owing to the high demand for household appliances that are backed with an extended warranty, the market in focus will grow positively during the forecast period.

Key Extended Warranty Market in US Trend

Expansion of services by the vendors is one of the key US extended warranty market trends contributing to the market growth. Vendors operating in the market in focus have been significantly adding new services to their portfolios. Also, vendors are expanding their service portfolios to cover small- and medium-sized commercial enterprises, apart from large enterprises. Thus, owing to the growing demand for extended warranties in the US for various appliances, devices, and automobiles from individuals and businesses, it is expected that the vendors will expand their service offerings during the forecast period. 

Key Extended Warranty Market in US Challenge

Security threats are one of the factors hampering the US extended warranty market growth. The outbreak of COVID-19 worldwide has obligated people to work remotely. This has increased the cybersecurity and data privacy risks for businesses. Several attempts at exploiting vulnerabilities in organizations have been observed during the pandemic. Therefore, such issues can dissuade organizations from adopting extended warranty services and, in turn, will negatively impact the growth of the market in focus during the forecast period.

This extended warranty market in US analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the extended warranty market in the US as a part of the global specialized consumer services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the extended warranty market in US during the forecast period.

Who are the Major Extended Warranty Market Vendors in US?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Allianz Group
  • American International Group Inc.
  • AmTrust Financial Services Inc.
  • Assurant Inc.
  • Asurion LLC
  • AXA Group
  • Carchex LLC
  • Chubb Ltd.
  • Endurance Warranty Services LLC
  • The Allstate Corp.

 

This statistical study of the US extended warranty market encompasses successful business strategies deployed by the key vendors. The US extended warranty market is concentrated, and the vendors are deploying growth strategies such as service features, innovative solutions, pricing, brand recognition, and service portfolios to compete in the market.

Product Insights and News

  • Allianz Group - The company offers extended warranty solutions, such as comprehensive, standard, and essential, for cars. 

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The report US extended warranty market contains comprehensive market knowledge and an in-depth vendor landscape added on to an analysis of the key vendors.

Extended Warranty Market in US Value Chain Analysis

Our report provides extensive information on the value chain analysis for the extended warranty market in US, which vendors can leverage to gain competitive advantages during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

What are the Revenue-generating Device Segments in the Extended Warranty Market in US?

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The extended warranty market share growth in US in the automotive segment will be significant during the forecast period. The US is the leading market for extended warranties, led by the presence of the major automotive industries in the country. The US automotive industry is mature and is projected to witness a moderate growth rate during the forecast period. The US automotive industry is one of the largest industries in the world and is home to some of the top automotive manufacturers, such as Ford Motor Co. and General Motors Co., which have been leaders in technological advancements and innovations. These factors in the automotive segment will boost the market growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the extended warranty market size in US and actionable market insights on the post-COVID-19 impact on each segment.

 

Extended Warranty Market Scope in US

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 4.55%

Market growth 2022-2026

$12.61 billion

Market structure

Concentrated

YoY growth (%)

2.34

Regional analysis

US

Competitive landscape

Leading companies, Competitive Strategies, Consumer engagement scope

Key companies profiled

Allianz Group, American International Group Inc., AmTrust Financial Services Inc., Assurant Inc., Asurion LLC, AXA Group, Carchex LLC, Chubb Ltd., Endurance Warranty Services LLC, and The Allstate Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Extended Warranty Market in US Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive extended warranty market growth in US during the next five years
  • Precise estimation of the extended warranty market size in US and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the extended warranty market industry in US 
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of extended warranty market vendors in US 

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Country Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market Segmentation by Device
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 07: Parent market
    • Exhibit 08: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 09: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 10: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 11: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 12: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 13: Chart on US: Year-over-year growth 2021-2026 (%)
      • Exhibit 14: Data Table on US: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 15: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 16: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 17: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 18: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 19: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 20: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 21: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Device

    • 5.1 Market segments
      • Exhibit 22: Chart on Device - Market share 2021-2026 (%)
      • Exhibit 23: Data Table on Device - Market share 2021-2026 (%)
    • 5.2 Comparison by Device
      • Exhibit 24: Chart on Comparison by Device
      • Exhibit 25: Data Table on Comparison by Device
    • 5.3 Automobile - Market size and forecast 2021-2026
      • Exhibit 26: Chart on Automobile - Market size and forecast 2021-2026 ($ million)
      • Exhibit 27: Data Table on Automobile - Market size and forecast 2021-2026 ($ million)
      • Exhibit 28: Chart on Automobile - Year-over-year growth 2021-2026 (%)
      • Exhibit 29: Data Table on Automobile - Year-over-year growth 2021-2026 (%)
    • 5.4 Consumer electronics - Market size and forecast 2021-2026
      • Exhibit 30: Chart on Consumer electronics - Market size and forecast 2021-2026 ($ million)
      • Exhibit 31: Data Table on Consumer electronics - Market size and forecast 2021-2026 ($ million)
      • Exhibit 32: Chart on Consumer electronics - Year-over-year growth 2021-2026 (%)
      • Exhibit 33: Data Table on Consumer electronics - Year-over-year growth 2021-2026 (%)
    • 5.5 Home appliances - Market size and forecast 2021-2026
      • Exhibit 34: Chart on Home appliances - Market size and forecast 2021-2026 ($ million)
      • Exhibit 35: Data Table on Home appliances - Market size and forecast 2021-2026 ($ million)
      • Exhibit 36: Chart on Home appliances - Year-over-year growth 2021-2026 (%)
      • Exhibit 37: Data Table on Home appliances - Year-over-year growth 2021-2026 (%)
    • 5.6 Mobile devices and PCs - Market size and forecast 2021-2026
      • Exhibit 38: Chart on Mobile devices and PCs - Market size and forecast 2021-2026 ($ million)
      • Exhibit 39: Data Table on Mobile devices and PCs - Market size and forecast 2021-2026 ($ million)
      • Exhibit 40: Chart on Mobile devices and PCs - Year-over-year growth 2021-2026 (%)
      • Exhibit 41: Data Table on Mobile devices and PCs - Year-over-year growth 2021-2026 (%)
    • 5.7 Others - Market size and forecast 2021-2026
      • Exhibit 42: Chart on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on Others - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on Others - Year-over-year growth 2021-2026 (%)
    • 5.8 Market opportunity by Device
      • Exhibit 46: Market opportunity by Device ($ million)

    6 Market Segmentation by End-user

    • 6.1 Market segments
      • Exhibit 47: Chart on End-user - Market share 2021-2026 (%)
      • Exhibit 48: Data Table on End-user - Market share 2021-2026 (%)
    • 6.2 Comparison by End-user
      • Exhibit 49: Chart on Comparison by End-user
      • Exhibit 50: Data Table on Comparison by End-user
    • 6.3 Businesses - Market size and forecast 2021-2026
      • Exhibit 51: Chart on Businesses - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Data Table on Businesses - Market size and forecast 2021-2026 ($ million)
      • Exhibit 53: Chart on Businesses - Year-over-year growth 2021-2026 (%)
      • Exhibit 54: Data Table on Businesses - Year-over-year growth 2021-2026 (%)
    • 6.4 Individuals - Market size and forecast 2021-2026
      • Exhibit 55: Chart on Individuals - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Data Table on Individuals - Market size and forecast 2021-2026 ($ million)
      • Exhibit 57: Chart on Individuals - Year-over-year growth 2021-2026 (%)
      • Exhibit 58: Data Table on Individuals - Year-over-year growth 2021-2026 (%)
    • 6.5 Market opportunity by End-user
      • Exhibit 59: Market opportunity by End-user ($ million)

    7 Customer Landscape

    • 7.1 Customer landscape overview
      • Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 61: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 62: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 63: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 64: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 65: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 66: Matrix on vendor position and classification
            • 10.3 Allianz Group
              • Exhibit 67: Allianz Group - Overview
              • Exhibit 68: Allianz Group - Business segments
              • Exhibit 69: Allianz Group - Key news
              • Exhibit 70: Allianz Group - Key offerings
              • Exhibit 71: Allianz Group - Segment focus
            • 10.4 American International Group Inc.
              • Exhibit 72: American International Group Inc. - Overview
              • Exhibit 73: American International Group Inc. - Business segments
              • Exhibit 74: American International Group Inc. - Key news
              • Exhibit 75: American International Group Inc. - Key offerings
              • Exhibit 76: American International Group Inc. - Segment focus
            • 10.5 AmTrust Financial Services Inc.
              • Exhibit 77: AmTrust Financial Services Inc. - Overview
              • Exhibit 78: AmTrust Financial Services Inc. - Product / Service
              • Exhibit 79: AmTrust Financial Services Inc. - Key news
              • Exhibit 80: AmTrust Financial Services Inc. - Key offerings
            • 10.6 Assurant Inc.
              • Exhibit 81: Assurant Inc. - Overview
              • Exhibit 82: Assurant Inc. - Business segments
              • Exhibit 83: Assurant Inc. - Key offerings
              • Exhibit 84: Assurant Inc. - Segment focus
            • 10.7 Asurion LLC
              • Exhibit 85: Asurion LLC - Overview
              • Exhibit 86: Asurion LLC - Product / Service
              • Exhibit 87: Asurion LLC - Key offerings
            • 10.8 AXA Group
              • Exhibit 88: AXA Group - Overview
              • Exhibit 89: AXA Group - Business segments
              • Exhibit 90: AXA Group - Key offerings
              • Exhibit 91: AXA Group - Segment focus
            • 10.9 Carchex LLC
              • Exhibit 92: Carchex LLC - Overview
              • Exhibit 93: Carchex LLC - Product / Service
              • Exhibit 94: Carchex LLC - Key offerings
            • 10.10 Chubb Ltd.
              • Exhibit 95: Chubb Ltd. - Overview
              • Exhibit 96: Chubb Ltd. - Business segments
              • Exhibit 97: Chubb Ltd. - Key news
              • Exhibit 98: Chubb Ltd. - Key offerings
              • Exhibit 99: Chubb Ltd. - Segment focus
            • 10.11 Endurance Warranty Services LLC
              • Exhibit 100: Endurance Warranty Services LLC - Overview
              • Exhibit 101: Endurance Warranty Services LLC - Product / Service
              • Exhibit 102: Endurance Warranty Services LLC - Key offerings
            • 10.12 The Allstate Corp.
              • Exhibit 103: The Allstate Corp. - Overview
              • Exhibit 104: The Allstate Corp. - Business segments
              • Exhibit 105: The Allstate Corp. - Key offerings
              • Exhibit 106: The Allstate Corp. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 107: Inclusions checklist
                • Exhibit 108: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 109: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 110: Research methodology
                • Exhibit 111: Validation techniques employed for market sizing
                • Exhibit 112: Information sources
              • 11.5 List of abbreviations
                • Exhibit 113: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              extended warranty market

              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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