United States Electronic Gadgets Insurance Market to Grow with a CAGR of 11.67% through 2030F

The United States Electronic Gadgets Insurance Market is growing due to increasing gadget adoption, rising repair costs, consumer awareness, technological advancements, e-commerce growth, and the demand for product protection plans.

According to TechSci Research report, “United States Electronic Gadgets Insurance Market – By Region, Competition, Forecast & Opportunities, 2020-2030F”, the United States Electronic Gadgets Insurance Market was valued at USD 18.88 Billion in 2024 and is expected to reach USD 36.62 Billion by 2030 with a CAGR of 11.67% during the forecast period. The United States Electronic Gadgets Insurance Market has seen significant growth in recent years, driven by the increasing reliance on electronic devices such as smartphones, laptops, tablets, gaming consoles, and wearables. The market is primarily segmented based on device types, insurance coverage plans, and distribution channels. With the rapid innovation in consumer electronics and the increasing price of high-end devices, the need for insurance has become a necessity for many consumers. The coverage generally includes protection against damage, theft, malfunction, and other unforeseen circumstances, offering peace of mind to users who are heavily dependent on their gadgets for daily activities.

The surge in demand for electronic gadgets insurance has been fueled by consumer awareness and technological advancements. As the prices of premium devices like the latest smartphones, laptops, and smartwatches continue to rise, consumers seek protection plans to safeguard their investments. Insurance companies have recognized this trend, providing customized insurance solutions that offer coverage against accidental damage, liquid spills, screen damage, and even theft. Some providers also cover repair costs for technical malfunctions not covered by manufacturer warranties, which further increases the appeal of gadget insurance policies.

The insurance market is also influenced by the rise of distribution channels that facilitate easier access to gadget insurance policies. Many consumers opt for insurance through mobile carriers, retail stores, or manufacturers offering bundled plans alongside the purchase of new gadgets. Additionally, digital platforms and online marketplaces have made it simpler for consumers to compare and purchase gadget insurance. These channels provide flexibility, transparency, and competitive pricing, which are crucial factors for attracting a wide customer base. Mobile apps and websites also play an important role in making the claims process more convenient, further boosting consumer trust in the insurance industry.

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The United States Electronic Gadgets Insurance Market is segmented into coverage type, device type, end user and regional distribution.

Based on device type, laptops are a dominant segment in the United States Electronic Gadgets Insurance Market due to their widespread use across personal, professional, and academic environments. As essential tools for work, education, and entertainment, laptops carry significant value, making consumers more inclined to purchase insurance for protection against accidental damage, theft, and technical malfunctions. Their portability increases vulnerability to accidents, further driving demand for insurance coverage. While other segments like mobile devices and drones are growing rapidly, laptops remain the most popular and established category in the market, holding a substantial share due to their importance in daily life and business operations.

Based on region, South region is the fastest-growing in the United States Electronic Gadgets Insurance Market. This region has seen significant growth due to factors such as population expansion, higher consumer spending, and the increasing adoption of electronic devices. States in the South, including Texas, Florida, and Georgia, are experiencing rapid urbanization, a growing tech-savvy consumer base, and an increase in mobile and gadget usage, all of which drive demand for electronic gadgets insurance.

Major companies operating in United States Electronic Gadgets Insurance Market are:

• Allianz SE
• American International Group, Inc.
• Aviva plc
• Assurant, Inc.
• AXA Assistance USA, Inc.
• Amica General Agency, LLC
• American Fidelity Assurance Company
• Chubb Group Holdings Inc.
• Progressive Casualty Insurance Company
• AT&T Inc.

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“The United States Electronic Gadgets Insurance Market is driven by increasing gadget adoption, rising concerns over device theft and damage, and the growing reliance on smartphones and personal electronics. The trends include flexible coverage plans, the integration of tech support services, and the shift towards digital-first insurance platforms. Additionally, the rise of e-commerce and consumer awareness are influencing market growth.” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

“United States Electronic Gadgets Insurance Market By Coverage Type (Accidental Damage, Theft and Loss), By Device Type (Laptops, Computers, Cameras, Mobile Devices, Drones), By End User (Corporate, Individual), By Region, Competition, Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential of United States Electronic Gadgets Insurance Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the United States Electronic Gadgets Insurance Market.

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