EXTENDED WARRANTY MARKET ANALYSIS

Regional Analysis

Global Extended Warranty Market: Regional Insights

Global Extended Warranty Market is dominated by North America, and this dominance is likely to continue throughout the forecast period. This is attributed to the rising demand for warranty coverage for consumer electronics like smartphones, laptops, and home appliances. Customers are increasingly opting for extended warranties to protect themselves from exorbitant repair costs as a result of the persistent rise in product prices.

North America\'s largest market for extended warranties is the U.S. followed by Canada. The growing use of connected devices and Internet of Things (IoT) technology in a variety of end-use industries, including automotive, healthcare, and consumer electronics, is also driving growth in this region. Typically, dealers offer warranties for at least five years on new vehicles, which encourages customers to buy extended warranties from the same dealers in the country.

On the other hand, it is anticipated that Asia Pacific will experience significant growth during the forecast period. This growth will primarily be driven by factors like the rapid expansion of the e-commerce sector and growing awareness of warranty benefits.

The regulatory frameworks governing the extended warranty market vary from country to country within the EMA region. Terms and conditions, cancellation policies, pricing transparency, and consumer protection measures may be governed by regulations.

Region wise Global Extended Warranty Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

• North America: U.S. and Canada
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Middle East & Africa: GCC Countries, Israel, South Africa, North Africa, and Central Africa