Extended Warranty Market Growth: USD 147.1 Billion in 2024 to USD 239.0 Billion by 2033

The global extended warranty market is poised for significant growth, with projections indicating an increase from USD 147.1 billion in 2024 to USD 239.0 billion by 2033, reflecting a CAGR of 5.5% during 2025–2033. This expansion is driven by rising consumer demand for financial protection against unforeseen product defects and malfunctions, particularly in high-value items such as electronics, appliances, and automobiles. As consumer products become increasingly complex, the need for extended coverage beyond standard warranties becomes more pronounced. Technological advancements, including the integration of artificial intelligence in claims processing, are enhancing customer experiences and operational efficiency. Additionally, the growth of e-commerce platforms facilitates easier access to extended warranty options, further propelling market expansion.