PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1282904
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1282904
India Electronics Gadget Insurance Market - By Coverage Type ; By Device Type ; By End User ; By Region, Trend Analysis, Competitive Landscape & Forecast, 2019-2029
India Electronic Gadget Insurance Market Size Set to Grow at Steady CAGR of 4.22% During 2023-2029
India electronic gadget insurance market is growing due to a surge in the demand for electronic gadget insurance policies, integration of advanced technologies such as artificial intelligence, and rising awareness among consumers regarding the benefits of electronic gadget insurance, such as coverage against accidental damage, theft, and breakdown.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects the India electronics gadget insurance market size to grow at a steady CAGR of 4.22% during the forecast period between 2023 and 2029. The electronic gadget insurance market is growing rapidly due to major factors such as the increase in the adoption of insurance policies specifically designed for electronic gadgets such as smartphones, laptops, and tablets. This rise can be attributed to the growing ownership and reliance on these devices among Indian consumers. Also, insurance companies are offering innovative coverage options, including accidental damage, theft, and breakdown protection, to cater to the diverse needs of gadget owners. With the emergence of e-commerce platforms and online purchasing, there has been a surge in the availability and accessibility of gadget insurance, making it more convenient for consumers to safeguard their valuable devices.
India Electronic Gadget Insurance Market - Overview:
Electronics gadget insurance refers to a type of insurance coverage that protects against the financial losses incurred due to damage, theft, or loss of electronic devices. It provides policyholders with financial reimbursement or replacement for their insured gadgets, including smartphones, laptops, tablets, cameras, and other portable electronic devices. This insurance typically covers various risks such as accidental damage, liquid damage, theft, loss, and mechanical breakdown. By paying a premium, individuals can safeguard their expensive electronic gadgets from unforeseen circumstances, ensuring that they can repair or replace their devices without bearing the full cost. Electronics gadget insurance offers peace of mind and financial protection for gadget owners.
Impact of COVID-19 on India Electronic Gadget Insurance Market
The COVID-19 pandemic significantly impacted the India electronics gadget insurance market. With the widespread lockdowns and restrictions on movement, there has been a surge in demand for electronic devices such as smartphones, laptops, and tablets, as people increasingly relied on them for remote work, education, and entertainment. This increased reliance on gadgets has also led to a rise in the need for insurance coverage to protect these devices against damages, theft, or breakdowns. Thus, the India electronics gadget insurance market has witnessed substantial growth during the pandemic, with more consumers seeking comprehensive coverage for their valuable electronic devices in these uncertain times.
India Electronic Gadget Insurance Market - By End User:
On the basis of end-user, India electronics gadget insurance market is divided into Corporate and Individual segments. The largest segment in terms of market size and customer base is the individual segment. The Individual segment encompasses coverage for personal electronic devices such as smartphones, laptops, tablets, and other consumer electronics. This segment caters to the insurance needs of individuals who seek protection for their valuable gadgets against various risks, including theft, accidental damage, and malfunction. With the increasing penetration of smartphones and other electronic devices in the Indian market, the Individual segment has witnessed substantial growth, highlighting the importance of gadget insurance among individual consumers.
Competitive Landscape:
India electronics gadget insurance market is fiercely competitive. Major companies in the market include Bajaj Allianz Group, New India Insurance, Oriental Insurance Co Ltd, National Insurance Co. Ltd, ICICI Lombard, HDFC Ergo, Times Global, Policybazar, and SyskaGadjet Secure. Companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in India electronics gadget insurance market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of India Electronic Gadget Insurance Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Electronic Gadget Insurance Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. India Electronics Gadget Insurance Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Growing Demand for Smartphones and Other Electronic Devices
- 3.2.1.2. Rise in Incidences of Theft and Loss
- 3.2.2. Restraints
- 3.2.2.1. High Premium Costs
- 3.2.3. Opportunity
- 3.2.3.1. Flexible Insurance Plans
- 3.2.4. Challenges
- 3.2.4.1. Limited Coverage
- 3.2.1. Growth Drivers
- 3.3. Technology Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. India Electronics Gadget Insurance Market Overview
- 4.1. Market Size & Forecast, 2019-2029
- 4.1.1. By Value (USD Million)
- 4.2. Market Share & Forecast
- 4.2.1. By Coverage Type
- 4.2.1.1. Physical Damage
- 4.2.1.2. Electronic Damage
- 4.2.1.3. Data Protection
- 4.2.1.4. Virus Protection
- 4.2.1.5. Theft Protection
- 4.2.2. By Device Type
- 4.2.2.1. Laptops
- 4.2.2.2. Computers
- 4.2.2.3. Cameras
- 4.2.2.4. Mobile devices
- 4.2.2.5. Tablet
- 4.2.3. By End User
- 4.2.3.1. Corporate
- 4.2.3.2. Individual
- 4.2.4. By Region
- 4.2.4.1. North India
- 4.2.4.2. South India
- 4.2.4.3. East India
- 4.2.4.4. West India
- 4.2.1. By Coverage Type
5. North India Electronics Gadget Insurance Market
- 5.1. Market Size & Forecast, 2019-2029
- 5.1.1. By Value (USD Million)
- 5.2. Market Share & Forecast
- 5.2.1. By Coverage Type
- 5.2.2. By Device Type
- 5.2.3. By End User
6. South India Electronics Gadget Insurance Market
- 6.1. Market Size & Forecast, 2019-2029
- 6.1.1. By Value (USD Million)
- 6.2. Market Share & Forecast
- 6.2.1. By Coverage Type
- 6.2.2. By Device Type
- 6.2.3. By End User
7. East India Electronics Gadget Insurance Market
- 7.1. Market Size & Forecast, 2019-2029
- 7.1.1. By Value (USD Million)
- 7.2. Market Share & Forecast
- 7.2.1. By Coverage Type
- 7.2.2. By Device Type
- 7.2.3. By End User
8. West India Electronics Gadget Insurance Market
- 8.1. Market Size & Forecast, 2019-2029
- 8.1.1. By Value (USD Million)
- 8.2. Market Share & Forecast
- 8.2.1. By Coverage Type
- 8.2.2. By Device Type
- 8.2.3. By End User
9. Competitive Landscape
- 9.1. List of Key Players and Their Offerings
- 9.2. India Electronics Gadget Insurance Market Company Market Share Analysis, 2022
- 9.3. Competitive Benchmarking, By Operating Parameters
- 9.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
10. Impact of Covid-19 on India Electronics Gadget Insurance Market
11. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 11.1. Bajaj Allianz Group
- 11.2. New India Insurance
- 11.3. Oriental Insurance Co Ltd
- 11.4. National Insurance Co. Ltd
- 11.5. ICICI Lombard
- 11.6. HDFC Ergo
- 11.7. Times Global
- 11.8. PolicyBazaar
- 11.9. SyskaGadjet Secure
- 11.10. Other Prominent Players
12. Key Strategic Recommendations
13. Research Methodology
- 13.1. Qualitative Research
- 13.1.1. Primary & Secondary Research
- 13.2. Quantitative Research
- 13.3. Market Breakdown & Data Triangulation
- 13.3.1. Secondary Research
- 13.3.2. Primary Research
- 13.4. Breakdown of Primary Research Respondents, By Region
- 13.5. Assumptions & Limitations
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
List of Figures
- Figure 1 India Electronics Gadget Insurance Market Segmentation
- Figure 2 India Electronics Gadget Insurance Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2022
- Figure 4 India Electronics Gadget Insurance Market Size, By Value (USD Million), 2019-2029
- Figure 5 India Electronics Gadget Insurance Market Share, By Coverage Type, By Value, 2019-2029
- Figure 6 India Electronics Gadget Insurance Market Share, By Device Type, By Value, 2019-2029
- Figure 7 India Electronics Gadget Insurance Market Share, By End User, By Value, 2019-2029
- Figure 8 India Electronics Gadget Insurance Market Share, By Region, By Value, 2019-2029
- Figure 9 North India Electronics Gadget Insurance Market Size, By Value (USD Million), 2019-2029
- Figure 10 North India Electronics Gadget Insurance Market Share, By Coverage Type, By Value, 2019-2029
- Figure 11 North India Electronics Gadget Insurance Market Share, By Device Type, By Value, 2019-2029
- Figure 12 North India Electronics Gadget Insurance Market Share, By End User, By Value, 2019-2029
- Figure 13 South India Electronics Gadget Insurance Market Size, By Value (USD Million), 2019-2029
- Figure 14 South India Electronics Gadget Insurance Market Share, By Coverage Type, By Value, 2019-2029
- Figure 15 South India Electronics Gadget Insurance Market Share, By Device Type, By Value, 2019-2029
- Figure 16 South India Electronics Gadget Insurance Market Share, By End User, By Value, 2019-2029
- Figure 17 East India Electronics Gadget Insurance Market Size, By Value (USD Million), 2019-2029
- Figure 18 East India Electronics Gadget Insurance Market Share, By Coverage Type, By Value, 2019-2029
- Figure 19 East India Electronics Gadget Insurance Market Share, By Device Type, By Value, 2019-2029
- Figure 20 East India Electronics Gadget Insurance Market Share, By End User, By Value, 2019-2029
- Figure 21 West India Electronics Gadget Insurance Market Size, By Value (USD Million), 2019-2029
- Figure 22 West India Electronics Gadget Insurance Market Share, By Coverage Type, By Value, 2019-2029
- Figure 23 West India Electronics Gadget Insurance Market Share, By Device Type, By Value, 2019-2029
- Figure 24 West India Electronics Gadget Insurance Market Share, By End User, By Value, 2019-2029
List of Tables
- Table 1 India Electronics Gadget Insurance Market Size, By Value (USD Million), 2019-2029
- Table 2 India Electronics Gadget Insurance Market Size, By Coverage Type, By Value, 2019-2029
- Table 3 India Electronics Gadget Insurance Market Size, By Device Type, By Value, 2019-2029
- Table 4 India Electronics Gadget Insurance Market Size, By End User, By Value, 2019-2029
- Table 5 India Electronics Gadget Insurance Market Size, By Region, By Value, 2019-2029
- Table 6 North India Electronics Gadget Insurance Market Size, By Value (USD Million), 2019-2029
- Table 7 North India Electronics Gadget Insurance Market Size, By Coverage Type, By Value, 2019-2029
- Table 8 North India Electronics Gadget Insurance Market Size, By Device Type, By Value, 2019-2029
- Table 9 North India Electronics Gadget Insurance Market Size, By End User, By Value, 2019-2029
- Table 10 South India Electronics Gadget Insurance Market Size, By Value (USD Million), 2019-2029
- Table 11 South India Electronics Gadget Insurance Market Size, By Coverage Type, By Value, 2019-2029
- Table 12 South India Electronics Gadget Insurance Market Size, By Device Type, By Value, 2019-2029
- Table 13 South India Electronics Gadget Insurance Market Size, By End User, By Value, 2019-2029
- Table 14 East India Electronics Gadget Insurance Market Size, By Value (USD Million), 2019-2029
- Table 15 East India Electronics Gadget Insurance Market Size, By Coverage Type, By Value, 2019-2029
- Table 16 East India Electronics Gadget Insurance Market Size, By Device Type, By Value, 2019-2029
- Table 17 East India Electronics Gadget Insurance Market Size, By End User, By Value, 2019-2029
- Table 18 West India Electronics Gadget Insurance Market Size, By Value (USD Million), 2019-2029
- Table 19 West India Electronics Gadget Insurance Market Size, By Coverage Type, By Value, 2019-2029
- Table 20 West India Electronics Gadget Insurance Market Size, By Device Type, By Value, 2019-2029
- Table 21 West India Electronics Gadget Insurance Market Size, By End User, By Value, 2019-2029
- Table 22 Bajaj Allianz Group Company Overview
- Table 23 Bajaj Allianz Group Financial Overview
- Table 24 New India Insurance Company Overview
- Table 25 New India Insurance Financial Overview
- Table 26 Oriental Insurance Co Ltd Company Overview
- Table 27 Oriental Insurance Co Ltd Financial Overview
- Table 28 National Insurance Co. Ltd Company Overview
- Table 29 National Insurance Co. Ltd Financial Overview
- Table 30 ICICI Lombard Company Overview
- Table 31 ICICI Lombard Financial Overview
- Table 32 HDFC Ergo Company Overview
- Table 33 HDFC Ergo Financial Overview
- Table 34 Times Global Company Overview
- Table 35 Times Global Financial Overview
- Table 36 PolicyBazaar Company Overview
- Table 37 PolicyBazaar Financial Overview
- Table 38 SyskaGadjet Secure Company Overview
- Table 39 SyskaGadjet Secure Financial Overview
