The electronics gadget insurance market size is expected to grow at a CAGR of 12.1% from 2025 to 2031. The electronics gadget insurance market includes growth prospects owing to the current electronics gadget insurance market trends and their foreseeable impact during the forecast period. The electronics gadget insurance market is a large and expanding sector. The electronics gadget insurance market is growing due to an increase in demand for electronic gadgets and an increase in incidents of accidental damage.
Electronics gadget insurance is a policy that covers the repair or replacement costs of electronic devices in case of damage, theft, or loss. Numerous electronic devices, including computers, gaming consoles, smartwatches, smartphones, tablets, and cameras, are covered by electronic gadget insurance. Accidental damage, liquid damage, theft, loss, mechanical failure, and occasionally even software errors are all covered in electronics gadget insurance. Insurance policies may vary in terms of coverage options.
Increase in Demand For Electronic Gadgets To Drive The Electronics Gadget Insurance Market
The scope of the electronics gadget insurance market is primarily divided into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is experiencing rapid growth and is anticipated to hold a significant electronics gadget insurance market share. With a large population and high adoption rates of electronic gadgets, North America represents a significant market for gadget insurance. As a hub for technological advancement, North America sees constant evolution in gadget insurance offerings to keep up with the latest devices and consumer trends. Insurance companies in North America often collaborate with gadget retailers or manufacturers to offer bundled insurance packages, enhancing convenience for consumers and driving market growth in North America.
The "Electronics Gadget Insurance Market Analysis" was carried out based on coverage type, device type, end user and geography. On the basis of coverage type, the market is segmented into accidental damage, theft and loss, and others. On the basis of device type, the market is segmented into laptops, computers, cameras, mobile devices, drones, and others. Based on end users, the market is segmented into corporate and individual. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Companies adopt inorganic and organic strategies such as mergers and acquisitions in the electronics gadget insurance market. A few recent key market developments are listed below:
[Source: Taurus Insurance, Press Release]
[Source: EE, Press Release]
The electronics gadget insurance market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report "Electronics Gadget Insurance Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-
Report Attribute | Details |
---|---|
Market size in 2024 | US$ XX million |
Market Size by 2031 | US$ XX Million |
Global CAGR (2025 - 2031) | 12.1% |
Historical Data | 2021-2023 |
Forecast period | 2025-2031 |
Segments Covered |
By Coverage Type
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |