Market Research Future (MRFR) has published a cooked research report on the “Global Consumer electronics extended warranty Market” that contains information from 2019 to 2035.

The Global Consumer electronics extended warranty Market is estimated to register a CAGR of 6.7% during the forecast period of 2024 to 2035.

MRFR recognizes the following companies as the key players in the Global Consumer electronics extended warranty Market— include Assurant, Inc., Asurion, LLC, One Assist Consumer Solutions Pvt. Ltd., Allstate Protection Plans, Go Warranty And Services LLP, Amtrust Financial Services, Marsh LLC. , Consumer Priority Service, WAGAS Sa , American International Group, Inc. , And Others.

Consumer electronics extended warranty Market Highlights

The Global Consumer electronics extended warranty Market is estimated to register a CAGR of 6.7% during the forecast period and is estimated to reach USD 152.55 Million by 2035.

The rising cost and complexity of consumer electronics has become a major driver for the growth of the consumer electronics extended warranty market. Today’s devices from foldable smartphones and premium laptops to smart home hubs and connected wearables are packed with advanced technologies that significantly increase their purchase price and repair costs. 

Features such as AI-driven functionalities, IoT connectivity, biometric sensors, flexible displays, and modular hardware components add tremendous value for consumers but also make these devices more fragile and challenging to service. When a high-end smartphone’s foldable screen cracks, or when a smart appliance’s control unit fails, the cost of replacement parts and specialized labor can be substantial. Even minor issues often require servicing by authorized technicians using proprietary components, further driving up costs.

Faced with this reality, consumers are increasingly seeking ways to protect their investments. Extended warranty plans offer peace of mind by covering unforeseen repair or replacement costs that could otherwise strain personal budgets. This shift in consumer mindset has not gone unnoticed by manufacturers and retailers, who now aggressively promote extended warranties as part of their upsell strategy at the point of sale. These warranties provide an additional, predictable revenue stream and strengthen brand loyalty by keeping customers within the service ecosystem.

Consumer electronics extended warranty Market Segment Analysis

The Global Consumer electronics extended warranty Market has been segmented based on By Coverage, By Coverage Term, By Insured Product, By End Use.

Based on Coverage, the global consumer electronics extended warranty market has been segmented into: Standard Protection Plan, Accidental Damage Plan, Loss and Theft Protection Plan. The Standard Protection Plan segment held the largest market share in 2024, and Accidental Damage Plan is the fastest-growing segment during the forecast period, i.e., 2025 -2035.

The Standard Protection Plan for consumer electronics, such as mobile phones, offered by providers like Bajaj Finserv and OneAssist, provides extended protection beyond the manufacturer’s warranty period. This plan is designed to safeguard devices against manufacturing defects and malfunctions, ensuring that the phone continues to perform at its best for an extended duration.

A key feature of this type of extended warranty is 24/7 customer support, allowing users to access assistance at any time. The plan also offers nationwide coverage, making it convenient for users to get their devices repaired anywhere across the country without worrying about location constraints. Many of these plans include no deductibles, meaning customers are not required to bear out-of-pocket expenses for repairs or replacements covered under the warranty.

Based on Coverage Term, the global consumer electronics extended warranty market has been segmented into:  1 Year, 2 Year, 3 Year, More Than 3 Years. The 1 Year segment held the largest market in 2024, and 3 Year are the fastest growing segment during the forecast period.

The 1-year extended warranty plan is a popular choice among consumers seeking short-term protection beyond the manufacturer’s warranty. This segment caters to customers who want immediate coverage against defects and malfunctions once the standard warranty expires, often aligning with the typical lifecycle of fast-changing consumer electronics. One-year plans are common for devices like smartphones, laptops, and wearable gadgets, where consumers tend to upgrade frequently. Such plans typically cover manufacturing defects, electrical or mechanical failures, and in some cases, accidental damage or liquid exposure.

Based on Insured Product, the global consumer electronics extended warranty market has been segmented into: Smartphones & Tablets, Laptops & Desktops, Gaming Consoles, Smart Watch, Cameras & Video Cams, Home Appliances (Refrigerators, Air Conditioners, Television Sets, Washing Machines, Others) Connected Home Devices, Others. The Smartphones & Tablets segment held the largest market in 2024, and Smartphones & Tablets are the fastest growing segment during the forecast period.

The Smartphones & Tablets segment represents a major share of the global consumer electronics extended warranty market, reflecting the increasing dependency on these devices for both personal and professional use. Based on news articles and industry studies, this segment sees high adoption rates for extended warranties due to the frequency of accidental damage, such as screen breakage, liquid spills, and mechanical failures, which can result in costly repairs.

Extended warranties for smartphones and tablets typically offer protection beyond the standard manufacturer’s warranty, covering defects, accidental drops, liquid damage, and in some cases, theft or loss. Plans often range from one to three years, with options for renewal or upgrade depending on the provider. For enterprises, smartphones and tablets form part of essential communication and productivity tools, and extended warranty agreements help minimize device downtime, support business continuity, and reduce maintenance costs.

Based on End Use, the global consumer electronics extended warranty market has been segmented into:  Individuals, Enterprises. The Individuals segment held the largest market in 2024 and Individuals is the fastest growing segment during the forecast period.

The individual consumer segment represents a significant portion of the global consumer electronics extended warranty market. This segment consists of private buyers who purchase extended warranties for personal gadgets such as smartphones, tablets, laptops, wearables, and home electronics including televisions, washing machines, and refrigerators.

Individual consumers typically seek extended warranties to protect their devices against manufacturing defects, mechanical failures, accidental damage, or liquid exposure, especially once the manufacturer’s warranty expires. The demand in this segment is driven by rising gadget ownership rates, increasing reliance on electronics for work, education, and entertainment, and heightened consumer awareness of repair and replacement costs.

Regional Analysis

Based on Region, the global Consumer Electronics Extended Warranty is segmented into North America, Europe, Asia-Pacific, South America, Middle East & Africa. North America accounted for the largest market share in 2024 and Asia Pacific is anticipated to reach USD 31.21 Billion by 2035 and projected to grow at the highest CAGR of 8.3% during the forecast period.

The demand for smartphones is surging across North America—particularly in the United States, Canada, and Mexico—and this boom is significantly fueling the growth of the consumer electronics extended warranty market. In the U.S., innovative launches like the Trump Mobile and T1 Phone represent a shift towards locally manufactured, premium smartphones catering to specific demographics, such as conservative consumers who value American-made products and services.

With features like domestic production, dedicated U.S. call centers, competitive pricing at $499, and flexible monthly plans with no credit checks, Trump Mobile is poised to capture a loyal consumer base. The promise of high-quality devices and customer-first service heightens consumer expectations for longevity and performance—making extended warranty plans more desirable as buyers look to protect their investment against defects, malfunctions, or accidental damage. In Canada, the smartphone market is increasingly due to the premium segment sales, with over 75% of devices sold in 2024 priced above US$700.

This preference for flagship devices—dominated by iPhone 16, Samsung S24, and the fast-rising Google Pixel premium models—means consumers are more inclined to secure extended warranty coverage to safeguard high-value devices. Mexico’s growing middle class, increased smartphone penetration, and demand for reliable devices also contribute to warranty uptake, as users seek peace of mind against repair costs in a market where affordability and longevity matter.

Key Findings of the Study

• The Global Consumer electronics extended warranty Market is expected to reach USD 152.55 Million by 2035, at a CAGR of 6.7% during the forecast period.


• The Asia Pacific region accounted for the fastest growth in the global market.


• Based on By Insured Product, the Smartphones & Tablets segment was attributed to holding the largest market in 2024.


• Assurant, Inc., Asurion, LLC, One Assist Consumer Solutions Pvt. Ltd., Allstate Protection Plans, Go Warranty and Services LLP, Amtrust Financial Services, Marsh LLC., Consumer Priority Service, WAGAS Sa , American International Group, Inc., And Others are the key market players.