United States Extended Warranty Market Overview 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “United States extended warranty Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global United States extended warranty market growth, size, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

The United States extended warranty market size reached US$ 55.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 81.3 Billion by 2028, exhibiting a growth rate (CAGR) of 6.9% during 2023-2028.

An extended warranty, also known as a service contract, offers supplemental coverage for items beyond the typical warranty provided by the manufacturer. This encompasses both manufacturer-extended warranties and retailer-extended warranties. Retailer-extended warranties, provided by retailers, often feature more flexible terms. Additionally, third-party extended warranties, offered by independent companies, are part of this category. They shield consumers from unexpected repair expenses once the manufacturer's warranty has lapsed, covering repairs and maintenance for a defined period after the initial warranty ends. The demand for extended warranties is on the rise in the United States, driven by the need to protect various products such as automobiles, electronics, and household appliances.

United States Extended Warranty Market Trends and Drivers:

Currently, the market growth in the United States is significantly influenced by the escalating intricacy and expenses associated with modern electronics and appliances. Another contributing factor is the expanding accessibility and customization of extended warranties due to the proliferation of digital platforms. Moreover, the market is experiencing a favorable outlook due to the increased incorporation of extended warranties into manufacturers' and retailers' sales strategies. The purchase of various electronic devices like smartphones, laptops, and tablets for web access and long-distance communication is further fueling market growth. Additionally, the surge in the adoption of e-commerce platforms, enhancing the overall shopping experience for customers, is driving market growth in the United States.

The report segmented the market on the basis of coverage, application, distribution channel and end user.

Breakup by Coverage:

  • Standard Protection Plan
  • Accidental Protection Plan

Breakup by Application:

  • Automobiles
  • Consumer Electronics
  • Home Appliances
  • Mobile Devices and PCs
  • Others

Breakup by Distribution Channel:

  • Manufacturers
  • Retailers
  • Others

Breakup by End User:

  • Individuals
  • Business

Breakup by Region:

  • Northeast
  • Midwest
  • South
  • West

Key highlights of the report:

  • Market Performance (2017-2022)
  • Market Outlook (2023- 2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Services Private Limited.

134 N 4th St. Brooklyn, NY 11249, USA

Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800