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The United States extended warranty market is expected to exhibit a CAGR of XX% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
An extended warranty, also known as a service contract, is a policy that extends the warranty duration of a durable consumer good beyond the offer provided by the manufacturer. It is provided by retailers and third-party service providers for automobiles and electronic appliances. It compensates for the cost of replacing or repairing the product if it is damaged due to a manufacturing defect or improper installation. In addition, it helps keep the product running smoothly and hassle-free while saving money. It also ensures complete guidance and technical assistance from the skilled staff of the service provider to repair the product.
The growing demand for extended warranties among the masses for the protection of electrical and mechanical expenses, such as oil changes and tire replacement, represents one of the key factors driving the market in the United States. In addition, there is a rise in the demand for extended warranties in the country as they provide additional revenue to product manufacturers, resellers, and service providers. This, along with increasing consumer preferences for a hassle-free post-sales experience, is propelling the growth of the market. Besides this, there is an increase in the demand for extended warranties as they cover routine maintenance and accidental damages, such as liquid spillage, thefts, or cracked screens. This, coupled with the growing concerns among consumers about the safety of electronic devices after the expiration of the original warranty, is catalyzing the demand for extended warranties in the US. Moreover, key market players are offering hassle-free replacements, on-site services, and digitizing extended warranty processes for faster claim settlements, which is bolstering the growth of the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the United States extended warranty market, along with forecasts at the country and regional level from 2022-2027. Our report has categorized the market based on coverage, application, distribution channel and end user.
Breakup by Coverage:
Breakup by Application:
Breakup by Distribution Channel:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis||2021|
|Segment Coverage||Coverage, Application, Distribution Channel, End User, Region|
|Region Covered||Northeast, Midwest, South, West|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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