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市場調査レポート
商品コード
1467934
延長保証市場レポート:対象範囲、用途、流通チャネル、エンドユーザー、地域別、2024~2032年Extended Warranty Market Report by Coverage, Application, Distribution Channel, End User, and Region 2024-2032 |
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延長保証市場レポート:対象範囲、用途、流通チャネル、エンドユーザー、地域別、2024~2032年 |
出版日: 2024年04月08日
発行: IMARC
ページ情報: 英文 135 Pages
納期: 2~3営業日
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世界の延長保証市場規模は2023年に1,391億米ドルに達しました。今後、IMARC Groupは、2024~2032年の間に5.8%の成長率(CAGR)を示し、2032年までに2,328億米ドルに達すると予測しています。予期せぬ不具合や故障に対する経済的保護に対する需要の高まり、高額商品の販売増加、電子機器、家電製品、自動車などの消費者向け製品の複雑化が、市場を推進している主要要因の一部です。
延長保証とは、メーカーや小売業者が提供するサービス契約であり、標準的な保証期間を超えた追加補償を提供するものです。延長保証は、当初の保証期間が終了した後に発生する可能性のある予期せぬ修理費用や不具合から消費者を保護するために設計されています。一般的には、保証期間を延長したり、提供されるサービスの範囲を拡大したりします。これにより、顧客は延長保証期間中、追加費用を負担することなく、条件に応じて製品の修理や交換を受けることができます。これに加えて、製品の機械的、電子的故障などの追加的な保護を提供するのにも役立ちます。
現在、タブレット、スマートフォン、ラップトップ、パーソナルコンピュータ(PC)などの電子機器の安全性を維持するために、世界中の個人の間で延長保証に対する需要が高まっており、これが市場の成長に寄与しています。このほか、自動車メーカーがブランド・ロイヤルティを維持し、既存顧客を維持するために延長保証を利用するようになっていることも、市場の成長を強めています。さらに、手間がかからず便利な製品の販売後体験に対する好みが個人間で高まっていることも、市場の成長を後押ししています。これとは別に、顧客の権利に関する意識の高まりが市場の成長を後押ししています。さらに、主要企業は、手間のかからない交換やオンサイトサービスなどの付加価値サービスを提供し、迅速なクレーム決済のために保証プロセスをデジタル化しており、これは市場の展望を明るいものにしています。
製品の複雑化
電子機器、家電製品、自動車などの消費者向け製品の複雑化が市場の成長に寄与しています。高度なソフトウェア、複雑な部品、統合システムがこれらの製品に不可欠な要素となっているため、技術的な問題や故障が発生しやすくなっています。また、これらの最新製品は複雑なため、修理にコストがかかります。その結果、消費者は、潜在的な修理に伴う金銭的リスクを軽減するために、延長保証を選択するようになっています。これに加えて、メーカーや小売業者は、顧客に延長保証を提供することで、標準的な保証期間を超えて包括的なサポートと保護を受けられると安心させています。
予期せぬ欠陥や故障に対する金銭的保護に対する需要の高まり
消費者は、重要な買い物をする際に、安心と安全を急速に求めるようになっています。高価なスマートフォン、高級ノートパソコン、高級自動車など、高額商品の購入は多額の投資になります。予期せぬ故障や修理費用の心配は、潜在的な購入者の購入意欲をそぐ。延長保証はセーフティネットとして機能し、消費者に購入の決断に対する自信を与えます。延長保証は、予期せぬ不具合や故障に対する経済的な保護を提供すると同時に、顧客が高額な修理費を負担することがないようにするものです。延長保証は、顧客に安心感を与え、購買行動の変化と満足度の向上を支援します。
高額商品の販売拡大
可処分所得の増加や消費者の嗜好の変化により、高額商品の需要が増加しています。プレミアムスマートフォン、高級ノートパソコン、高級車、その他の高額商品は、世界中の消費者の間で人気が高まっています。しかし、こうした高級品には高額な値札が付いていることが多く、標準保証が切れた後の潜在的な修理費用を顧客が警戒するようになっています。その結果、消費者は高額商品の欠陥や故障の費用を負担してくれる延長保証を選ぶようになっています。さらに、消費者が経済的な保護と安心感を求めているため、こうした高価な買い物に対する延長保証の採用が増加しており、市場にプラスの影響を与えています。
The global extended warranty market size reached US$ 139.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 232.8 Billion by 2032, exhibiting a growth rate (CAGR) of 5.8% during 2024-2032. The growing demand for financial protection against unforeseen defects or malfunctions, rising sales of high-value items, and increasing complexities in consumer products, such as electronics, appliances, and automotive vehicles, are some of the major factors propelling the market.
An extended warranty is a service contract offered by a manufacturer or retailer that provides additional coverage beyond the standard warranty period. It is designed to protect consumers from unexpected repair costs and defects that may arise after the initial warranty expires. It generally extends the duration of coverage or expands the range of services provided. It allows customers to have their products repaired or replaced, depending on the terms, without incurring additional expenses during the extended warranty period. Besides this, it aids in providing additional protection, such as mechanical and electronic failures of products.
At present, the increasing demand for extended warranties to maintain safety for electronic devices, such as tablets, smartphones, laptops, and personal computers (PCs), among individuals across the globe is contributing to the growth of the market. Besides this, the growing utilization of extended warranties by car manufacturers to maintain brand loyalty and retain existing customers is strengthening the market growth. Moreover, the rising preference for hassle-free and convenient post-sales experience of a product among individuals is propelling the market growth. Apart from this, increasing customer awareness about their rights is bolstering the growth of the market. Furthermore, key players are providing value-added services, such as hassle-free replacements and on-site services, and digitizing warranty processes for faster claim settlements, which is offering a positive market outlook.
Rising product complexities
The rising complexities in consumer products, such as electronics, appliances, and automotive vehicles, are contributing to the growth of the market. Advanced software, intricate components, and integrated systems are becoming integral parts of these products, which makes them more prone to technical issues and failures. The intricate nature of these modern products also makes them costly to repair. Consequently, consumers are increasingly opting for extended warranties to mitigate the financial risks associated with potential repairs. Besides this, manufacturers and retailers reassure customers that they will receive comprehensive support and protection beyond the standard warranty period by offering extended warranty coverage to them.
Increasing demand for financial protection against unforeseen defects or malfunctions
Consumers are rapidly seeking reassurance and peace of mind when making significant purchases. Buying high-value products, such as expensive smartphones, premium laptops, or luxury automobiles, can be a substantial investment. The fear of unexpected breakdowns or repair costs can deter potential buyers from making such purchases. Extended warranties act as a safety net and provide consumers with confidence in their buying decisions. These warranties offer financial protection against unforeseen defects or malfunctions while ensuring that customers will not be burdened with expensive repair bills. Extended warranties provide peace of mind to customers that assist in changing their purchasing behavior and enhance their satisfaction.
Growing sales of high-value items
There is a rise in the demand for high-value items due to increasing disposable incomes and changing consumer preferences. Premium smartphones, high-end laptops, luxury vehicles, and other high-value items are becoming more popular among consumers across the globe. However, these luxury products often come with a hefty price tag, which makes customers wary of potential repair costs after the standard warranty expires. Consequently, consumers are opting for extended warranties that can bear the cost of defects and malfunctions in high-value products. Furthermore, the increasing adoption of extended warranty coverage for these costly purchases, as consumers are seeking financial protection and peace of mind, is positively influencing the market.
IMARC Group provides an analysis of the key trends in each segment of the global extended warranty market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on coverage, application, distribution channel and end user.
Standard Protection Plan
Accidental Protection Plan
Standard protection plan represents the largest market segment
The report has provided a detailed breakup and analysis of the market based on the coverage. This includes standard protection plan and accidental protection plan. According to the report, standard protection plan represented the largest segment.
The standard protection plan is the basic level of extended warranty coverage offered for most products. It typically extends the warranty period beyond the original warranty by manufacturers and provides protection against defects and malfunctions for an additional period. The coverage under the standard protection plan often includes parts and labor costs for repairs and ensures that consumers are safeguarded from unexpected repair expenses. In line with this, it offers basic coverage for a reasonable price and may not encompass all potential issues.
Automobiles
Consumer Electronics
Home Appliances
Mobile Devices and PCs
Others
Automobiles account for the majority of the market share
The report has provided a detailed breakup and analysis of the market based on the application. This includes automobiles, consumer electronics, home appliances, mobile devices and PCs, and others. According to the report, automobiles represented the largest segment.
The automobile extended warranties are specifically tailored to provide coverage for vehicles and their components and ensure protection against potential mechanical and electrical failures. There are usually two primary categories of extended warranties for automobiles, such as new vehicle extended warranty and used vehicle extended warranty. In addition, the new vehicle extended warranty is offered for brand-new vehicles purchased from dealerships. On the other hand, the used vehicle extended warranty is designed for pre-owned vehicles and offers similar coverage to new vehicle extended warranties.
Manufacturers
Retailers
Others
Manufacturers hold the biggest market share
The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes manufacturers, retailers, and others. According to the report, manufacturers represented the largest segment.
Many product manufacturers offer extended warranty programs directly to consumers at the point of sale (POS). This distribution channel allows manufacturers to leverage their brand reputation and customer trust to promote this warranty coverage. By offering extended warranties, manufacturers can enhance customer loyalty and satisfaction, as customers perceive the manufacturer to gain insight about the product and its components. Additionally, these warranty programs are typically designed to complement the standard warranty by manufacturers and may include additional benefits, such as priority service, dedicated support, and coverage for specific components not covered under the standard warranty.
Individuals
Business
Individuals dominate the market share
The report has provided a detailed breakup and analysis of the market based on the end user. This includes individuals and business. According to the report, individuals represented the largest segment.
Individuals represent a substantial end-user segment in the market. These consumers are private individuals who purchase various products, such as electronics, appliances, automobiles, and other valuable items for personal use. When making such purchases, individuals often have the option to buy extended warranty coverage to safeguard their investments and protect themselves against unforeseen repair costs. In addition, extended warranties offer individuals peace of mind by providing financial coverage. The decision to opt for extended warranties is influenced by factors, such as the value of the product, the perceived reliability of the brand, and the willingness to secure long-term protection for their purchases.
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
North America exhibits a clear dominance, accounting for the largest extended warranty market share
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.
North America held the biggest market share due to the presence of major manufacturers and retailers. Additionally, the rising awareness among individuals about their rights is strengthening the growth of the market in the region. Besides this, the increasing demand for high-value products among the masses is offering a positive market outlook. In line with this, the rising adoption of technologically advanced consumer electronics is supporting the growth of the market in the North America region.
Key players are expanding their coverage options to include a broader range of products and industries. This includes offering extended warranties for not only electronics and appliances but also for emerging sectors like smart home devices, renewable energy systems, and electric vehicles (EVs). In addition, companies are offering customizable extended warranty plans to cater to individual customer requirements. Consumers can choose from different levels of coverage, durations, and add-on services based on their specific needs and budgets. Apart from this, major manufacturers are investing in user-friendly websites and digital platforms to streamline the purchasing process, which allows consumers to easily compare plans, access information, and make online purchases conveniently.
Allianz Assistance (Allianz SE)
American International Group Inc.
AmTrust Financial
Assurant Inc.
Asurion LLC
Axa S.A.
Carchex
CarShield LLC
Chubb
Edel Assurance LLP
Endurance Warranty Services LLC
SquareTrade Inc. (The Allstate Corporation)
In February 2023, Assurant Inc, partnered with Okinawa Autotech, one of India's electric scooters brands, to offer an Extended Warranty Program (EWP) across its entire range of electric vehicles.
In 2021, Allianz X invested into Mobility Trader Holding GmbH, the parent company of heycar, an international digital platform for quality used car sales. This investment makes available core motor insurance products and extend to a variety of add-on features, such as roadside assistance and warranty.
In May 2022, Asurion announced that it is offering the Asurion Tech Unlimited protection and support plan to Amazon shoppers, providing those who enroll the ability to have one protection plan for all eligible devices purchased from Amazon in the past and into the future. It combines tech protection coverage for all the eligible tech bought from Amazon, such as laptops, TVs, desktop computers, gaming consoles, cameras, and so much more are covered as long as the subscription is active.