Dublin, March 21, 2023 (GLOBE NEWSWIRE) -- The "Global Extended Warranty Market (2023-2028) by Coverage, Applications, Distribution Channel, End-Users, and Geography, Competitive Analysis, Impact of Covid-19, Impact of Economic Slowdown & Impending Recession with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Extended Warranty Market is estimated to be USD 157.92 Bn in 2023 and is expected to reach USD 254.99 Bn by 2028, growing at a CAGR of 10.05%.
Market dynamics are forces that impact the prices and behaviors of the stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors.
There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.
As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding the growth and reducing the risks.
Competitive Quadrant
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Ansoff Analysis
The report presents a detailed Ansoff matrix analysis for the Global Extended Warranty Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
The analyst analyses the Global Extended Warranty Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Extended Warranty Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
- The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report also contains the competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 163 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $157.92 Billion |
| Forecasted Market Value (USD) by 2028 | $254.99 Billion |
| Compound Annual Growth Rate | 10.0% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Increased Awareness for Extended Warranty
- Rise in Customer-Centric Warranty Coverage
- Increasing Penetration of Smart Devices and Automation
Restraints
- Limitations of Warranties
- Automotive Analytics and Early Warning System
Opportunities
- Accelerating Manufacturing Sector
- Rapid shift towards the Holistic Approach to Tackle Warranty
Challenges
- Lack of Information of Warranty Covers
- Availability of the Alternative Systems
Market Segmentation
The Global Extended Warranty Market is segmented based on Coverage, Applications, Distribution Channel, End-Users, and Geography.
- By Coverage, the market is classified into Standard Protection Plan and Accidental Protection Plan.
- By Applications, the market is classified into Automobiles, Consumer Electronics, Home Appliances, Mobile Devices & PCs, and Others.
- By Distribution Channel, the market is classified into Manufacturers, Retailers, and Others.
- By End-Users, the market is classified into Business and Individuals.
- By Geography, the market is classified into Americas, Europe, Middle-East & Africa, and Asia-Pacific.
Companies Mentioned
- Allstate Corp.
- American International Group, Inc.
- AmTrust Financial
- Assurant, Inc.
- Aviva
- Axa SA
- CARCHEX
- CarShield, LLC
- Chubb
- CNA Financial Corp.
- Edel Assurance LLP
- Endurance Warranty Services, LLC
- Likewize
- SquareTrade, Inc
- Zurich Insurance Group Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/je1ftz
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