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Report
Asia Pacific Electronic Gadget Insurance Market By Device Type (Mobile Phones, Laptops, Tablets, Smartwatches, Others), By Coverage (Accidental Damage, Theft, Loss, Others), By Country, Competition, Forecast & Opportunities, 2020-2030F
Market Report I 2025-02-28 I 134 Pages I TechSci Research
Asia Pacific Electronic Gadget Insurance Market was valued at USD 14.45 Billion in 2024 and is anticipated to grow USD 31.23 Billion by 2030 with a CAGR of 13.71% during forecast period. The Asia Pacific electronic gadget insurance market is expanding due to the rising adoption of smartphones, laptops, tablets, and wearables, coupled with increasing consumer awareness of device protection. The market is driven by growing disposable income, rapid digitalization, and a surge in online insurance platforms. Key players offer coverage for accidental damage, theft, and breakdowns, enhancing customer convenience. Countries like China, India, and Japan dominate the market, fueled by high gadget penetration.
Key Market Drivers
Rising Smartphone and Consumer Electronics Penetration
The Asia Pacific region has witnessed a significant rise in the adoption of smartphones, laptops, tablets, and wearable devices due to increasing internet penetration and digitalization. Countries like China and India have the largest smartphone user bases, with India surpassing 1.2 billion mobile connections in 2023. According to industry reports, China accounted for over 70% of global smartphone production, further driving regional demand. The surge in consumer electronics adoption has led to higher incidences of accidental damage, screen breakage, and technical malfunctions, increasing the necessity for electronic gadget insurance. Consumers are increasingly opting for comprehensive insurance plans that cover theft, liquid damage, and unauthorized usage to mitigate financial risks. As disposable incomes rise, especially in emerging economies, customers are more inclined to invest in insurance policies that safeguard their high-value electronic devices, making this factor a crucial driver of the market's growth.
Key Market Challenges
High Incidence of Fraudulent Claims and Risk of Policy Misuse
One of the most significant challenges in the Asia Pacific electronic gadget insurance market is the high incidence of fraudulent claims and policy misuse. Many customers attempt to exploit insurance policies by filing false claims for lost, stolen, or damaged devices to receive reimbursements or replacements. Fraudulent practices such as deliberate device damage, staged theft, and the use of fake invoices have increased, leading to significant financial losses for insurers. According to industry reports, insurance fraud accounts for nearly 10-15% of total claims in the region, particularly in densely populated markets like India and China. Additionally, the presence of unregulated third-party repair shops and counterfeit spare parts in these countries has made it difficult for insurers to verify the authenticity of claims. To combat this challenge, insurers are investing in artificial intelligence (AI)-driven fraud detection systems, blockchain-based verification, and stricter policy terms to identify and mitigate fraudulent activities. However, despite technological advancements, fraud remains a persistent issue, leading to increased operational costs and premium hikes, which may discourage potential customers from purchasing electronic gadget insurance.
Key Market Trends
Growing Adoption of Embedded and Subscription-Based Insurance Models
One of the most prominent trends shaping the Asia Pacific electronic gadget insurance market is the shift toward embedded and subscription-based insurance models. Traditionally, gadget insurance was sold separately, but insurers and manufacturers now integrate insurance directly into device purchases. Leading smartphone brands like Apple, Samsung, and Xiaomi have introduced bundled protection plans, allowing customers to opt for insurance at the time of purchase, increasing accessibility and adoption rates. Additionally, subscription-based models have gained traction, offering customers flexible monthly or annual payment options instead of one-time premium payments. Companies like AppleCare+ and Samsung Care+ provide ongoing coverage, including accidental damage protection, technical support, and extended warranty benefits, making them more appealing than conventional insurance policies. The rise of embedded insurance solutions has also been fueled by digital platforms and fintech innovations, enabling seamless policy activation through e-commerce platforms and mobile wallets. As customer preferences shift toward convenience and affordability, the demand for embedded and subscription-based insurance models is expected to grow, driving long-term market expansion.
Key Market Players
- Apple Inc.
- Samsung Electronics Co., Ltd.
- Safeware, Inc.
- Syska Gadget Secure
- Warranty Asia
- The Digital Insurer
- Allianz Insurance
- Gadget Cover
- Brightstar Corp.
- Aviva
Report Scope:
In this report, the Asia Pacific Electronic Gadget Insurance Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- Asia Pacific Electronic Gadget Insurance Market, By Device Type:
o Mobile Phones
o Laptops
o Tablets
o Smartwatches
o Others
- Asia Pacific Electronic Gadget Insurance Market, By Coverage:
o Accidental Damage
o Theft
o Loss
o Others
- Asia Pacific Electronic Gadget Insurance Market, By Country:
o China
o India
o Japan
o Indonesia
o Thailand
o South Korea
o Australia
o Vietnam
o Malaysia
o Bangladesh
o Rest of Asia-Pacific
Competitive Landscape
Company Profiles: Detailed analysis of the major companies presents in the Asia Pacific Electronic Gadget Insurance Market.
Available Customizations:
Asia Pacific Electronic Gadget Insurance Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. Introduction
1.1. Market Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Market Overview
3.2. Market Forecast
3.3. Key Countries
3.4. Key Segments
4. Asia Pacific Electronic Gadget Insurance Market Outlook
4.1. Market Size & Forecast
4.1.1. By Value
4.2. Market Share & Forecast
4.2.1. By Device Type Market Share Analysis (Mobile Phones, Laptops, Tablets, Smartwatches, Others)
4.2.2. By Coverage Market Share Analysis (Accidental Damage, Theft, Loss, Others)
4.2.3. By Country Market Share Analysis
4.2.3.1. China Market Share Analysis
4.2.3.2. India Market Share Analysis
4.2.3.3. Japan Market Share Analysis
4.2.3.4. Indonesia Market Share Analysis
4.2.3.5. Thailand Market Share Analysis
4.2.3.6. South Korea Market Share Analysis
4.2.3.7. Australia Market Share Analysis
4.2.3.8. Vietnam Market Share Analysis
4.2.3.9. Malaysia Market Share Analysis
4.2.3.10. Bangladesh Market Share Analysis
4.2.3.11. Rest of Asia-Pacific Market Share Analysis
4.2.4. By Top 5 Companies Market Share Analysis, Others (2024)
4.3. Asia Pacific Electronic Gadget Insurance Market Mapping & Opportunity Assessment
4.3.1. By Device Type Market Mapping & Opportunity Assessment
4.3.2. By Coverage Market Mapping & Opportunity Assessment
4.3.3. By Country Market Mapping & Opportunity Assessment
5. China Electronic Gadget Insurance Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Device Type Market Share Analysis
5.2.2. By Coverage Market Share Analysis
6. India Electronic Gadget Insurance Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Device Type Market Share Analysis
6.2.2. By Coverage Market Share Analysis
7. Japan Electronic Gadget Insurance Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Device Type Market Share Analysis
7.2.2. By Coverage Market Share Analysis
8. Indonesia Electronic Gadget Insurance Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Device Type Market Share Analysis
8.2.2. By Coverage Market Share Analysis
9. Thailand Electronic Gadget Insurance Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Device Type Market Share Analysis
9.2.2. By Coverage Market Share Analysis
10. South Korea Electronic Gadget Insurance Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Device Type Market Share Analysis
10.2.2. By Coverage Market Share Analysis
11. Australia Electronic Gadget Insurance Market Outlook
11.1. Market Size & Forecast
11.1.1. By Value
11.2. Market Share & Forecast
11.2.1. By Device Type Market Share Analysis
11.2.2. By Coverage Market Share Analysis
12. Vietnam Electronic Gadget Insurance Market Outlook
12.1. Market Size & Forecast
12.1.1. By Value
12.2. Market Share & Forecast
12.2.1. By Device Type Market Share Analysis
12.2.2. By Coverage Market Share Analysis
13. Malaysia Electronic Gadget Insurance Market Outlook
13.1. Market Size & Forecast
13.1.1. By Value
13.2. Market Share & Forecast
13.2.1. By Device Type Market Share Analysis
13.2.2. By Coverage Market Share Analysis
14. Bangladesh Electronic Gadget Insurance Market Outlook
14.1. Market Size & Forecast
14.1.1. By Value
14.2. Market Share & Forecast
14.2.1. By Device Type Market Share Analysis
14.2.2. By Coverage Market Share Analysis
15. Market Dynamics
15.1. Drivers
15.2. Challenges
16. Market Trends & Developments
17. Competitive Landscape
17.1. Company Profiles
17.1.1. Apple Inc.
17.1.1.1. Company Details
17.1.1.2. Products & Services
17.1.1.3. Financials (As Per Availability)
17.1.1.4. Key Market Focus & Geographical Presence
17.1.1.5. Recent Developments
17.1.1.6. Key Management Personnel
17.1.2. Samsung Electronics Co., Ltd.
17.1.2.1. Company Details
17.1.2.2. Products & Services
17.1.2.3. Financials (As Per Availability)
17.1.2.4. Key Market Focus & Geographical Presence
17.1.2.5. Recent Developments
17.1.2.6. Key Management Personnel
17.1.3. Safeware, Inc.
17.1.3.1. Company Details
17.1.3.2. Products & Services
17.1.3.3. Financials (As Per Availability)
17.1.3.4. Key Market Focus & Geographical Presence
17.1.3.5. Recent Developments
17.1.3.6. Key Management Personnel
17.1.4. Syska Gadget Secure
17.1.4.1. Company Details
17.1.4.2. Products & Services
17.1.4.3. Financials (As Per Availability)
17.1.4.4. Key Market Focus & Geographical Presence
17.1.4.5. Recent Developments
17.1.4.6. Key Management Personnel
17.1.5. Warranty Asia
17.1.5.1. Company Details
17.1.5.2. Products & Services
17.1.5.3. Financials (As Per Availability)
17.1.5.4. Key Market Focus & Geographical Presence
17.1.5.5. Recent Developments
17.1.5.6. Key Management Personnel
17.1.6. The Digital Insurer
17.1.6.1. Company Details
17.1.6.2. Products & Services
17.1.6.3. Financials (As Per Availability)
17.1.6.4. Key Market Focus & Geographical Presence
17.1.6.5. Recent Developments
17.1.6.6. Key Management Personnel
17.1.7. Allianz Insurance
17.1.7.1. Company Details
17.1.7.2. Products & Services
17.1.7.3. Financials (As Per Availability)
17.1.7.4. Key Market Focus & Geographical Presence
17.1.7.5. Recent Developments
17.1.7.6. Key Management Personnel
17.1.8. Gadget Cover
17.1.8.1. Company Details
17.1.8.2. Products & Services
17.1.8.3. Financials (As Per Availability)
17.1.8.4. Key Market Focus & Geographical Presence
17.1.8.5. Recent Developments
17.1.8.6. Key Management Personnel
17.1.9. Brightstar Corp.
17.1.9.1. Company Details
17.1.9.2. Products & Services
17.1.9.3. Financials (As Per Availability)
17.1.9.4. Key Market Focus & Geographical Presence
17.1.9.5. Recent Developments
17.1.9.6. Key Management Personnel
17.1.10. Aviva
17.1.10.1. Company Details
17.1.10.2. Products & Services
17.1.10.3. Financials (As Per Availability)
17.1.10.4. Key Market Focus & Geographical Presence
17.1.10.5. Recent Developments
17.1.10.6. Key Management Personnel
18. Strategic Recommendations
18.1. Key Focus Areas
18.2. Target Device Type
18.3. Target Coverage
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