Extended Warranty Market Forecast
Regional Forecast:
The Extended Warranty market size in North America, specifically in the U.S. and Canada, is expected to show significant growth due to increasing consumer demand for protection plans and the rise in adoption of electronic devices and automobiles.
Asia Pacific:
In Asia Pacific, countries such as China, Japan, and South Korea are witnessing a surge in the extended warranty market, driven by the growing middle-class population and increasing disposable income. The region is also experiencing a rise in sales of consumer electronics and automobiles, further contributing to the market growth.
Largest Region
North America
46% Market Share in 2023
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Europe:
The Extended Warranty Market in Europe, particularly in the United Kingdom, Germany, and France, is forecasted to expand steadily owing to the rigorous regulations governing consumer protection and the rising awareness among consumers regarding the benefits of extended warranties. The market is also being supported by the presence of leading automotive manufacturers and electronic device makers in these countries.
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