Gadget Insurance Market Report 2026

Gadget Insurance Market Overview

• Gadget Insurance market size has reached to $74.13 billion in 2025 • Expected to grow to $131.08 billion in 2030 at a compound annual growth rate (CAGR) of 12% • Growth Driver: Impact Of Rising Electronic Device Demand On The Gadget Insurance Market • Market Trend: Innovative Partnership Introduces Tailored Gadget Insurance Solutions • North America was the largest region in 2025 and Asia-Pacific is the fastest growing region.

What Is Covered Under Gadget Insurance Market?

Gadget insurance is a policy designed to protect electronic devices such as smartphones, tablets, and laptops from risks such as theft, accidental damage, and loss. It offers peace of mind by covering repair or replacement costs, often with customizable options to suit different device types and user needs. The main coverage types of gadget insurance are physical damage, internal component failure, theft and loss protection, virus and data protection, and others. Physical damage coverage is an insurance provision that protects against the financial impact of damage to your vehicle or property from collisions, theft, natural disasters, and other covered events. This coverage is applicable to various devices, including laptops and portable personal computers, mobile phones, tablets, home entertainment devices, cameras, and others, and is available through retail and online channels. It caters to both business and individual end users.

What Is The Gadget Insurance Market Growth Forecast?

The gadget insurance market size is expected to see rapid growth in the next few years. It will grow to $131.08 billion in 2030 at a compound annual growth rate (CAGR) of 12.0%. The growth in the forecast period can be attributed to increasing adoption of connected devices, rising consumer preference for instant claims settlement, expansion of embedded insurance models, growing use of ai-driven claims automation, increasing focus on data security and device protection. Major trends in the forecast period include increasing demand for device-specific insurance plans, rising adoption of online gadget insurance platforms, growing focus on theft and damage protection, expansion of subscription-based insurance models, enhanced integration of digital claims processing.

Global Gadget Insurance Market Segmentation

1) By Coverage Type: Physical Damage, Internal Component Failure, Theft And Loss Protection, Virus And Data Protection, Other Coverage Types 2) By Device Type: Laptop And Portable Personal Computers, Mobile Phones, Tablets, Home Entertainment Devices, Cameras, Other Device Types 3) By Sales Channel: Retail, Online 4) By End User: Business, Individuals Subsegments: 1) By Physical Damage: Accidental Damage, Screen Breakage, Water Damage, Drop And Impact Damage, Cracked Screens Or Housing, Spill Damage 2) By Internal Component Failure: Battery Failure, Hardware Malfunctions, Motherboard Failure, Display Or Graphics Failure, Charging Port And Connector Issues, Camera Or Sensor Failures 3) By Theft And Loss Protection: Theft Of Device, Robbery Or Break-In Protection, Lost Devices, Device Recovery Assistance, International Theft Coverage 4) By Virus And Data Protection: Malware Protection, Ransomware Protection, Data Recovery Services, Data Breach And Privacy Protection, Anti-Virus And Security Software Coverage, Identity Theft Protection 5) By Other Coverage Types: Accidental Damage With Loss Of Use, Cosmetic Damage Coverage, Extended Warranty For Device, International Coverage, Loss Of Accessories Coverage, Software And Application Protection

What Is The Driver Of The Gadget Insurance Market?

The rising demand for electronic devices is expected to propel the growth of the gadget insurance market going forward. The demand for electronic devices is driven by continuous technological innovation, including faster processors, better connectivity, and new features. Additionally, growing consumer preferences for smart, portable devices and increased digital content consumption drive demand for advanced electronics for streaming, gaming, and multimedia. Gadget insurance helps mitigate financial risks associated with device damage or loss, encouraging consumers to invest in expensive electronic devices without fear of substantial financial loss. For instance, in October 2023, according to Shanghai Municipal People's Government, a China-based local administrative agency, China's total retail sales of consumer electronics are projected to increase by 4 percent to 2.2 trillion yuan (US$305 billion) this year, with growth expected to accelerate to 5% in 2024. Therefore, the rising demand for electronic devices is driving the growth of the gadget insurance industry.

Key Players In The Global Gadget Insurance Market

Major companies operating in the gadget insurance market are Apple Inc., Samsung Electronics Co Ltd, Allianz SE, AT&T Inc., AXA Group, Chubb Limited, Assurant Inc., Asurion LLC, Geek Squad, SquareTrade Inc., Endsleigh, Bolttech Mannings Inc., OneAssist Consumer Solutions Pvt Ltd, Worth Ave Group, Acumen Insurance Services Ltd, i‑Digital Insurance, Likewize, Bajaj Allianz General Insurance, HDFC ERGO, AIG (American International Group), Hiscox, ProtectCELL, CNA Financial, Aviva plc, Zurich Insurance Group, CPP Group plc

Global Gadget Insurance Market Trends and Insights

Major companies operating in the gadget insurance market are adopting a strategic partnership approach to expand their reach and enhance their service offerings. A strategic partnership typically refers to a collaborative relationship between two or more organizations where they combine their resources, expertise, and efforts to achieve common goals or objectives. For instance, in July 2024, Gamp, a Nigerian-based technology provider of device insurance, announced a strategic partnership with AXA Mansard, a Nigerian-based gadget insurance provider, to provide easy and flexible gadget insurance solutions. This collaboration seeks to streamline the process of obtaining device insurance, making it more accessible through SLOT's extensive retail network. These policies often include low excess fees and the option of pay-as-you-go plans, allowing customers to choose coverage that fits their needs without long-term commitments. The initiative will initially launch at SLOT outlets and later expand to other tech retail stores across the country, with insurance options starting at a minimal fee of N2500.

What Are Latest Mergers And Acquisitions In The Gadget Insurance Market?

In March 2024, Open Insurance Technologies Pty Ltd., a Australia-based insurance company, acquired SO-SURE for an undisclosed amount. With this acquisition, Open Insurance, aims to strengthen its UK market presence, expand its mobile and contents insurance offerings, and enhance its embedded insurance capabilities to drive growth and improve customer experiences. SO-SURE is a UK-based insurtech company, specializes in providing mobile phone and accessories insurance.

Regional Outlook

North America was the largest region in the gadget insurance market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in this market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

What Defines the Gadget Insurance Market?

The gadget insurance market includes revenues earned by entities by providing services such as accidental damage coverage, theft coverage, cracked screen repair, accessory coverage, and fast replacement or repair. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

How is Market Value Defined and Measured?

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

What Key Data and Analysis Are Included in the Gadget Insurance Market Report 2026?

The gadget insurance market research report is one of a series of new reports from The Business Research Company that provides market statistics, including Market Report 2026?global market size, regional shares, competitors with the market share, detailed market segments, market trends and opportunities, and any further data you may need to thrive in the gadget insurance Market Report 2026? The market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the Market Report 2026?