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PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1401132

PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1401132

Asia Pacific Electronic Gadgets Insurance Market, By Device Type ; By Coverage ; By Distribution Channel ; By Country, Trend Analysis, Competitive Landscape & Forecast, 2019-2029

PUBLISHED: December 11, 2023

PAGES: 200 Pages

DELIVERY TIME: 2-3 business days

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Asia Pacific Electronic Gadgets Insurance Market Size More Than Doubles to Touch USD 32.1 Billion by 2029

Asia-Pacific Electronic Gadgets Insurance Market is gaining traction because of the increasing demand for electronic gadgets and rising instances of theft and loss.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Asia-Pacific Electronic Gadgets Insurance Market size at USD 13.2 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Asia-Pacific Electronic Gadgets Insurance Market size to grow at a CAGR of 13.6% reaching a value of USD 32.1 billion by 2029. The increasing ownership of electronic gadgets combined with an increase in theft, malfunction, and accidental damage or loss are major growth factors for the Asia-Pacific Electronic Gadgets Insurance Market. Furthermore, it is projected that during the forecast period, the Asia-Pacific electronic gadgets insurance market will have lucrative growth opportunities due to the increasing accessibility and availability of electronic gadget insurance through online platforms.

Opportunity: Rising Electronic Gadgets Theft Cases

There are alarmingly high numbers of theft cases involving electronic devices, and the number is rising quickly. According to government estimates, India alone has a record of about 50,000 mobile phones being stolen each month. Reportedly, stolen devices are frequently tracked down in China, where they are disassembled and resold, or, in the event that the device is fully functional, they are resold in the secondary market, thereby raising the possibility of data theft. Thus, insurance for electronic devices is becoming more popular in the Asia-Pacific region, which is propelling the growth of the market as a whole.

Asia-Pacific Electronic Gadgets Insurance Market - By Coverage

Based on coverage, the Asia-Pacific Electronic Gadgets Insurance Market is segmented into accidental damage, theft, loss, and others. The accidental damage segment holds the largest share in the Asia-Pacific Electronic Gadget Insurance Market. This kind of insurance offers a defense against unintentional and incidental damages like spilled liquids, broken screens, power surges, and accidental drops. It pays for any surcharges, repairs, and, in certain situations, even the purchase of a new system. Theft also covers a substantial market share owing to the high rate of theft in certain countries, such as India.

Impact of Escalating Geopolitical Tensions on the Asia-Pacific Electronic Gadgets Insurance Market

The escalating geopolitical tensions disrupted the growth of the Asia-Pacific Electronic Gadgets Insurance market. For instance, the raging war between Israel and Palestine sends shockwaves across various industries, transcending geographic boundaries and affecting businesses globally. The conflict between Israel and Palestine has been a longstanding, deeply entrenched geopolitical issue. On October 07, 2023, Hamas, a Palestinian military organization, in a surprise and heavy attack, struck Israel with thousands of rockets and infiltrations. In response, the prime minister of Israel declared war against Hamas and anticipated that the war would be 'long and difficult.' As of November 22, 2023, it was estimated that more than 14,500 people had been killed in Gaza since the war broke out.

The ongoing conflict between Israel and Hamas has created significant obstacles and uncertainties in the electronics supply chain, impacting production facilities, multinational corporations, and the flow of skilled labor and goods. The Asia-Pacific market witnessed a slowdown in demand for electronic gadgets due to supply chain disruptions that caused prices to skyrocket. The market's overall growth was hampered by restricted sales in the electronic gadgets segment, which also had a negative impact on the demand for electronic insurance in the region.

Competitive Landscape

Major players operating in the Asia-Pacific Electronic Gadgets Insurance Market include Applecare, Samsung Premium Care, Safeware, Syska Gadget Secure, Warranty Asia, The Digital Insurer, Allianz Insurance, Gadget Cover, Brightstar Corp., Aviva, AIG, Chubb, Hiscox, Liberty Mutual, and Zurich Insurance Group.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Asia-Pacific Electronic Gadgets Insurance Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Asia-Pacific Electronic Gadgets 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.

Product Code: BWC231004

1. Research Framework

1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation

2. Executive Summary

3. Asia-Pacific Electronic Gadgets Insurance Market Insights

3.1. Technology Value Chain Analysis
3.2. DROC Analysis
- 3.2.1. Growth Drivers
  - 3.2.1.1. Increasing Demand for Electronic Gadgets
  - 3.2.1.2. Rising Instances of Theft and Loss
- 3.2.2. Restraints
  - 3.2.2.1. Lack of Awareness of Electronic Gadgets Insurance
  - 3.2.2.2. High Cost of Premiums
- 3.2.3. Opportunities
  - 3.2.3.1. Expanding Product Offerings
  - 3.2.3.2. Targeting New Customer Segments
- 3.2.4. Challenges
  - 3.2.4.1. Increasing Competition in the Market
3.3. Technological 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. Asia-Pacific Electronic Gadgets Insurance Market Overview

4.1. Market Size & Forecast by Value, 2019-2029
- 4.1.1. By Value (USD Billion)
4.2. Market Share & Forecast
- 4.2.1. By Device Type
  - 4.2.1.1. Mobile Phones
  - 4.2.1.2. Laptops
  - 4.2.1.3. Tablets
  - 4.2.1.4. Smartwatches
  - 4.2.1.5. Others
- 4.2.2. By Coverage
  - 4.2.2.1. Accidental Damage
  - 4.2.2.2. Theft
  - 4.2.2.3. Loss
  - 4.2.2.4. Others
- 4.2.3. By Distribution Channel
  - 4.2.3.1. Online
  - 4.2.3.2. Offline
- 4.2.4. By Country
  - 4.2.4.1. China
  - 4.2.4.2. India
  - 4.2.4.3. Japan
  - 4.2.4.4. South Korea
  - 4.2.4.5. Australia & New Zealand
  - 4.2.4.6. Indonesia
  - 4.2.4.7. Malaysia
  - 4.2.4.8. Singapore
  - 4.2.4.9. Vietnam
  - 4.2.4.10. Rest Of APAC

5. China Electronic Gadgets Insurance Market Overview

5.1. Market Size & Forecast by Value, 2019-2029
- 5.1.1. By Value (USD Billion)
5.2. Market Share & Forecast
- 5.2.1. By Device Type
- 5.2.2. By Coverage
- 5.2.3. By Distribution Channel

6. India Electronic Gadgets Insurance Market Overview

6.1. Market Size & Forecast by Value, 2019-2029
- 6.1.1. By Value (USD Billion)
6.2. Market Share & Forecast
- 6.2.1. By Device Type
- 6.2.2. By Coverage
- 6.2.3. By Distribution Channel

7. Japan Electronic Gadgets Insurance Market Overview

7.1. Market Size & Forecast by Value, 2019-2029
- 7.1.1. By Value (USD Billion)
7.2. Market Share & Forecast
- 7.2.1. By Device Type
- 7.2.2. By Coverage
- 7.2.3. By Distribution Channel

8. South Korea Electronic Gadgets Insurance Market Overview

8.1. Market Size & Forecast by Value, 2019-2029
- 8.1.1. By Value (USD Billion)
8.2. Market Share & Forecast
- 8.2.1. By Device Type
- 8.2.2. By Coverage
- 8.2.3. By Distribution Channel

9. Australia & New Zealand Electronic Gadgets Insurance Market Overview

9.1. Market Size & Forecast by Value, 2019-2029
- 9.1.1. By Value (USD Billion)
9.2. Market Share & Forecast
- 9.2.1. By Device Type
- 9.2.2. By Coverage
- 9.2.3. By Distribution Channel

10. Indonesia Electronic Gadgets Insurance Market Overview

10.1. Market Size & Forecast by Value, 2019-2029
- 10.1.1. By Value (USD Billion)
10.2. Market Share & Forecast
- 10.2.1. By Device Type
- 10.2.2. By Coverage
- 10.2.3. By Distribution Channel

11. Malaysia Electronic Gadgets Insurance Market Overview

11.1. Market Size & Forecast by Value, 2019-2029
- 11.1.1. By Value (USD Billion)
11.2. Market Share & Forecast
- 11.2.1. By Device Type
- 11.2.2. By Coverage
- 11.2.3. By Distribution Channel

12. Singapore Electronic Gadgets Insurance Market Overview

12.1. Market Size & Forecast by Value, 2019-2029
- 12.1.1. By Value (USD Billion)
12.2. Market Share & Forecast
- 12.2.1. By Device Type
- 12.2.2. By Coverage
- 12.2.3. By Distribution Channel

13. Vietnam Electronic Gadgets Insurance Market Overview

13.1. Market Size & Forecast by Value, 2019-2029
- 13.1.1. By Value (USD Billion)
13.2. Market Share & Forecast
- 13.2.1. By Device Type
- 13.2.2. By Coverage
- 13.2.3. By Distribution Channel

14. Rest of Asia-Pacific Electronic Gadgets Insurance Market Overview

14.1. Market Size & Forecast by Value, 2019-2029
- 14.1.1. By Value (USD Billion)
14.2. Market Share & Forecast
- 14.2.1. By Device Type
- 14.2.2. By Coverage
- 14.2.3. By Distribution Channel

15. Competitive Landscape

15.1. List of Key Players and Their Offerings
15.2. Asia-Pacific Electronic Gadgets Insurance Company Market Share Analysis, 2021
15.3. Competitive Benchmarking, By Operating Parameters
15.4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)

16. Impact of Covid-19 on Asia-Pacific Electronic Gadgets Insurance Market

17. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)

17.1. Apple Care+
17.2. Samsung Premium Care
17.3. Safeware
17.4. Syska Gadget Secure
17.5. Warranty Asia
17.6. The Digital Insurer
17.7. Allianz Insurance
17.8. Gadget Cover
17.9. Brightstar Corp.
17.10. Aviva
17.11. AIG
17.12. Chubb
17.13. Hiscox
17.14. Liberty Mutual
17.15. Zurich Insurance Group
17.16. Other Prominent Players

18. Key Strategic Recommendations

19. Research Methodology

19.1. Qualitative Research
- 19.1.1. Primary & Secondary Research
19.2. Quantitative Research
19.3. Market Breakdown & Data Triangulation
- 19.3.1. Secondary Research
- 19.3.2. Primary Research
19.4. Breakdown of Primary Research Respondents, By Country
19.5. Assumption & Limitation

*Financial information of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

Product Code: BWC231004

List of Figures

Figure 1 Asia-Pacific Electronic Gadgets Insurance Market Segmentation
Figure 2 Asia-Pacific Electronic Gadgets Insurance Value Chain Analysis
Figure 3 Company Market Share Analysis, 2022
Figure 4 Asia-Pacific Electronic Gadgets Insurance Market Size, By Value (USD Billion), 2019-2029
Figure 5 Asia-Pacific Electronic Gadgets Insurance Market Share, By Device Type, By Value, 2019-2029
Figure 7 Asia-Pacific Electronic Gadgets Insurance Share, By Coverage, By Value, 2019-2029
Figure 8 Asia-Pacific Electronic Gadgets Insurance Market Share, By Distribution Channel, By Value, 2019-2029
Figure 9 Asia-Pacific Electronic Gadgets Insurance Market Share, By Country, By Value, 2019-2029
Figure 10 China Electronic Gadgets Insurance Market Size, By Value (USD Billion), 2019-2029
Figure 11 China Electronic Gadgets Insurance Market Share, By Device Type, By Value, 2019-2029
Figure 12 China Electronic Gadgets Insurance Market Share, By Coverage, By Value, 2019-2029
Figure 13 China Electronic Gadgets Insurance Market Share, By Distribution Channel, By Value, 2019-2029
Figure 14 India Electronic Gadgets Insurance Market Size, By Value (USD Billion), 2019-2029
Figure 15 India Electronic Gadgets Insurance Market Share, By Device Type, By Value, 2019-2029
Figure 16 India Electronic Gadgets Insurance Market Share, By Coverage, By Value, 2019-2029
Figure 17 India Electronic Gadgets Insurance Market Share, By Distribution Channel, By Value, 2019-2029
Figure 18 Japan Electronic Gadgets Insurance Market Size, By Value (USD Billion), 2019-2029
Figure 19 Japan Electronic Gadgets Insurance Market Share, By Device Type, By Value, 2019-2029
Figure 20 Japan Electronic Gadgets Insurance Market Share, By Coverage, By Value, 2019-2029
Figure 21 Japan Electronic Gadgets Insurance Market Share, By Distribution Channel, By Value, 2019-2029
Figure 22 South Korea Electronic Gadgets Insurance Market Size, By Value (USD Billion), 2019-2029
Figure 23 South Korea Electronic Gadgets Insurance Market Share, By Device Type, By Value, 2019-2029
Figure 24 South Korea Electronic Gadgets Insurance Market Share, By Coverage, By Value, 2019-2029
Figure 25 South Korea Electronic Gadgets Insurance Market Share, By Distribution Channel, By Value, 2019-2029
Figure 26 Australia & New Zealand Electronic Gadgets Insurance Market Size, By Value (USD Billion), 2019-2029
Figure 27 Australia & New Zealand Electronic Gadgets Insurance Market Share, By Device Type, By Value, 2019-2029
Figure 28 Australia & New Zealand Electronic Gadgets Insurance Market Share, By Coverage, By Value, 2019-2029
Figure 29 Australia & New Zealand Electronic Gadgets Insurance Market Share, By Distribution Channel, By Value, 2019-2029
Figure 30 Indonesia Electronic Gadgets Insurance Market Size, By Value (USD Billion), 2019-2029
Figure 31 Indonesia Electronic Gadgets Insurance Market Share, By Device Type, By Value, 2019-2029
Figure 32 Indonesia Electronic Gadgets Insurance Market Share, By Coverage, By Value, 2019-2029
Figure 33 Indonesia Electronic Gadgets Insurance Market Share, By Distribution Channel, By Value, 2019-2029
Figure 34 Malaysia Electronic Gadgets Insurance Market Size, By Value (USD Billion), 2019-2029
Figure 35 Malaysia Electronic Gadgets Insurance Market Share, By Device Type, By Value, 2019-2029
Figure 36 Malaysia Electronic Gadgets Insurance Market Share, By Coverage, By Value, 2019-2029
Figure 37 Malaysia Electronic Gadgets Insurance Market Share, By Distribution Channel, By Value, 2019-2029
Figure 38 Singapore Electronic Gadgets Insurance Market Size, By Value (USD Billion), 2019-2029
Figure 39 Singapore Electronic Gadgets Insurance Market Share, By Device Type, By Value, 2019-2029
Figure 40 Singapore Electronic Gadgets Insurance Market Share, By Coverage, By Value, 2019-2029
Figure 41 Singapore Electronic Gadgets Insurance Market Share, By Distribution Channel, By Value, 2019-2029
Figure 42 Philippines Electronic Gadgets Insurance Market Size, By Value (USD Billion), 2019-2029
Figure 43 Philippines Electronic Gadgets Insurance Market Share, By Device Type, By Value, 2019-2029
Figure 44 Philippines Electronic Gadgets Insurance Market Share, By Coverage, By Value, 2019-2029
Figure 45 Philippines Electronic Gadgets Insurance Market Share, By Distribution Channel, By Value, 2019-2029
Figure 46 Vietnam Electronic Gadgets Insurance Market Size, By Value (USD Billion), 2019-2029
Figure 47 Vietnam Electronic Gadgets Insurance Market Share, By Device Type, By Value, 2019-2029
Figure 48 Vietnam Electronic Gadgets Insurance Market Share, By Coverage, By Value, 2019-2029
Figure 49 Vietnam Electronic Gadgets Insurance Market Share, By Distribution Channel, By Value, 2019-2029
Figure 50 Rest of Asia-Pacific Electronic Gadgets Insurance Market Size, By Value (USD Billion), 2019-2029
Figure 51 Rest of Asia-Pacific Electronic Gadgets Insurance Market Share, By Device Type, By Value, 2019-2029
Figure 52 Rest of Asia-Pacific Electronic Gadgets Insurance Market Share, By Coverage, By Value, 2019-2029
Figure 53 Rest of Asia-Pacific Electronic Gadgets Insurance Market Share, By Distribution Channel, By Value, 2019-2029

List of Tables

Table 1 Asia-Pacific Electronic Gadgets Insurance Market Size, By Device Type, By Value, 2019-2029
Table 2 Asia-Pacific Electronic Gadgets Insurance Market Size, By Coverage, By Value, 2019-2029
Table 3 Asia-Pacific Electronic Gadgets Insurance Market Size, By Distribution Channel, By Value, 2019-2029
Table 4 Asia-Pacific Electronic Gadgets Insurance Market Size, By Device Type, By Value, 2019-2029
Table 5 Asia-Pacific Electronic Gadgets Insurance Market Size, By Coverage, By Value, 2019-2029
Table 6 Asia-Pacific Electronic Gadgets Insurance Market Size, By Distribution Channel, By Value, 2019-2029
Table 7 Asia-Pacific Electronic Gadgets Insurance Market Size, By Country, By Value, 2019-2029
Table 8 China Electronic Gadgets Insurance Market Size, By Device Type, By Value, 2019-2029
Table 9 China Electronic Gadgets Insurance Market Size, By Coverage, By Value, 2019-2029
Table 10 China Electronic Gadgets Insurance Market Size, By Distribution Channel, By Value, 2019-2029
Table 11 India Electronic Gadgets Insurance Market Size, By Device Type, By Value, 2019-2029
Table 12 India Electronic Gadgets Insurance Market Size, By Coverage, By Value, 2019-2029
Table 13 India Electronic Gadgets Insurance Market Size, By Distribution Channel, By Value, 2019-2029
Table 14 Japan Electronic Gadgets Insurance Market Size, By Device Type, By Value, 2019-2029
Table 15 Japan Electronic Gadgets Insurance Market Size, By Coverage, By Value, 2019-2029
Table 16 Japan Electronic Gadgets Insurance Market Size, By Distribution Channel, By Value, 2019-2029
Table 17 South Korea Electronic Gadgets Insurance Market Size, By Device Type, By Value, 2019-2029
Table 18 South Korea Electronic Gadgets Insurance Market Size, By Coverage, By Value, 2019-2029
Table 19 South Korea Electronic Gadgets Insurance Market Size, By Distribution Channel, By Value, 2019-2029
Table 20 Australia & New Zealand Electronic Gadgets Insurance Market Size, By Device Type, By Value, 2019-2029
Table 21 Australia & New Zealand Electronic Gadgets Insurance Market Size, By Coverage, By Value, 2019-2029
Table 22 Australia & New Zealand Electronic Gadgets Insurance Market Size, By Distribution Channel, By Value, 2019-2029
Table 23 Indonesia Electronic Gadgets Insurance Market Size, By Device Type, By Value, 2019-2029
Table 24 Indonesia Electronic Gadgets Insurance Market Size, By Coverage, By Value, 2019-2029
Table 25 Indonesia Electronic Gadgets Insurance Market Size, By Distribution Channel, By Value, 2019-2029
Table 26 Malaysia Electronic Gadgets Insurance Market Size, By Device Type, By Value, 2019-2029
Table 27 Malaysia Electronic Gadgets Insurance Market Size, By Coverage, By Value, 2019-2029
Table 28 Malaysia Electronic Gadgets Insurance Market Size, By Distribution Channel, By Value, 2019-2029
Table 29 Singapore Electronic Gadgets Insurance Market Size, By Device Type, By Value, 2019-2029
Table 30 Singapore Electronic Gadgets Insurance Market Size, By Coverage, By Value, 2019-2029
Table 31 Singapore Electronic Gadgets Insurance Market Size, By Distribution Channel, By Value, 2019-2029
Table 32 Philippines Electronic Gadgets Insurance Market Size, By Device Type, By Value, 2019-2029
Table 33 Philippines Electronic Gadgets Insurance Market Size, By Coverage, By Value, 2019-2029
Table 34 Philippines Electronic Gadgets Insurance Market Size, By Distribution Channel, By Value, 2019-2029
Table 35 Vietnam Electronic Gadgets Insurance Market Size, By Device Type, By Value, 2019-2029
Table 36 Vietnam Electronic Gadgets Insurance Market Size, By Coverage, By Value, 2019-2029
Table 37 Vietnam Electronic Gadgets Insurance Market Size, By Distribution Channel, By Value, 2019-2029
Table 38 Rest of Asia-Pacific Electronic Gadgets Insurance Market Size, By Device Type, By Value, 2019-2029
Table 39 Rest of Asia-Pacific Electronic Gadgets Insurance Market Size, By Coverage, By Value, 2019-2029
Table 40 Rest of Asia-Pacific Electronic Gadgets Insurance Market Size, By Distribution Channel, By Value, 2019-2029
Table 41 Apple Care+ Company Overview
Table 42 Apple Care+ Financial Overview
Table 43 Samsung Premium Care Company Overview
Table 44 Samsung Premium Care Financial Overview
Table 45 Safeware Company Overview
Table 46 Safeware Financial Overview
Table 47 Syska Gadget Secure Company Overview
Table 48 Syska Gadget Secure Financial Overview
Table 49 Warranty Asia Company Overview
Table 50 Warranty Asia Financial Overview
Table 51 The Digital Insurer Company Overview
Table 52 The Digital Insurer Financial Overview
Table 53 Allianz Insurance Company Overview
Table 54 Allianz Insurance Financial Overview
Table 55 Gadget Cover Company Overview
Table 56 Gadget Cover Financial Overview
Table 57 Brightstar Corp. Company Overview
Table 58 Brightstar Corp. Financial Overview
Table 59 Aviva Company Overview
Table 60 Aviva Financial Overview
Table 61 AIG Company Overview
Table 62 AIG Financial Overview
Table 63 Zurich Insurance Group Company Overview
Table 64 Zurich Insurance Group Financial Overview
Table 65 Other Prominent Players Company Overview
Table 66 Other Prominent Players Financial Overview