The extended warranty market is anticipated to expand from $130.5 billion in 2023 to $247.1 billion
The Extended Warranty Market encompasses the provision of service agreements that extend the warranty period of products beyond the standard manufacturer\'s warranty. This market includes a variety of offerings such as protection plans for electronics, appliances, and automobiles. It caters to consumers seeking additional security against unforeseen repair costs, fostering customer loyalty and generating recurring revenue streams for retailers and manufacturers.