China Gadget Insurance Market Size and Forecast (2021 - 2031), Country Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Physical Damage, Theft & Loss Protection, and Others), Device Type (Laptops and PCs, Smartphones, Tablets, Wearable Devices, Home Entertainment Devices, Cameras, and Others), Sales Channel (Retail and Online), and End User (Businesses and Individual)
The China gadget insurance market size was valued US$ 6.40 billion in 2023 and is expected to reach US$ 20.49 Million by 2031; it is estimated to record a CAGR of 15.6% from 2023 to 2031.
The China gadget insurance market is experiencing significant growth, driven by the increasing demand for customized policies tailored to specific devices. As the digital landscape evolves and consumer electronics proliferate, insurers are improving their offerings to meet the unique needs of individual gadgets, enhancing customer satisfaction and expanding market reach. With consumers being increasingly reliant on technology for everyday tasks, the financial implications of gadget damage or loss have become more pronounced.
Customized insurance policies provide peace of mind by offering targeted protection that aligns with the value and usage of each device, making them an attractive choice for tech-savvy consumers. Key players operating in the region offer protection and insurance plans to cover the consumers' devices against damages. For instance, Samsung offers Samsung Care+, which brings together a range of benefits that are meant to safeguard users' devices against any accidental, physical, or liquid damage or technical or mechanical failure. Additionally, Samsung Care+ covers a select range of Samsung smartphones, tablets, laptops, and wearables. Similarly, Apple provides AppleCare+, an insurance policy covering the policy period for repairs or replacement of covered Apple devices such as Apple Watch, HomePod, iPad (including Apple Pencil), iPhone, iPod, or Headphones in case of accidental damage or battery depletion. It gives priority access to telephone technical support from Apple. Such offerings by the companies provide consumers with customized policies for a specific gadget, driving market growth.
Based on sales channel, the market is segmented into retail and online. The retail segment held the largest China Gadget Insurance market share in 2023 China gadget insurance market share in 2023. Based on end user, the market is segmented into businesses and individuals. The individual segment held the largest share in the China gadget insurance market share in 2023.
The retail insurance sales channel plays a crucial role in the promising gadget insurance market in China, which has seen significant growth due to the increasing penetration of electronic devices among consumers. As the demand for gadgets such as smartphones, laptops, and cameras rises, the need for insurance products that protect these investments from risks like theft, accidental damage, and mechanical failure increases. In China, the gadget insurance market is characterized by a diverse range of products tailored to various device types, including mobile phones, tablets, laptops, and home entertainment systems. Retailers are strategically positioned to offer these insurance products at the point of sale, providing consumers with immediate options to safeguard their purchases.
AT&T, Apple Inc., ASSURANT, INC., AmTrust Financial, HDFC ERGO General Insurance Company Limited, Chubb, ICICI Group, AXA, Zurich General Insurance Company (China) Limited, Samsung, and HUAWEI Care are among the prominent players profiled in the China gadget insurance market report. The China gadget insurance market forecast is estimated on the basis of various secondary and primary research findings such as key company publications, association data, and databases.
The overall China gadget insurance market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the China gadget insurance market analysis. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the market.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. China Gadget Insurance Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 Insurance Providers:
4.3.2 Distribution
4.3.3 End Users:
4.3.4 List of Vendors in the Value Chain
4.4 Market Entry Strategies and Regulatory Landscape
4.4.1 Market Behavior Regulations
4.4.2 Solvency Regulations
4.4.3 Corporate Governance Regulations
5. China Gadget Insurance Market – Key Market Dynamics
5.1 China Gadget Insurance Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Rise in Sales of Mobile Phones and Wearables
5.2.2 Increased Awareness of Gadget Insurance
5.2.3 InsurTech Development in China
5.2.4 Customized Policies for Specific Gadgets
5.3 Market Restraints
5.3.1 Regulatory Challenges in Insurance Sector
5.3.2 Competition from Device Manufacturers' Warranty Programs
5.4 Market Opportunities
5.4.1 Growing Initiatives by Gadget Insurance Market Players
5.5 Future Trends
5.5.1 Shift Toward Digital Insurance Platforms
5.5.2 Integration with E-Commerce and Tech-Retailer Companies
5.6 Impact of Drivers and Restraints:
6. China Gadget Insurance Market Analysis
6.1 China Gadget Insurance Market Revenue (US$ Million), 2021–2031
6.2 China Gadget Insurance Market Forecast and Analysis
6.3 Analysis
6.3.1 Demographic Overview
6.3.1.1 Age Structure
6.3.1.2 Population Analysis.
6.3.1.3 Main Cities by Population in China
6.3.2 Smartphone Users in China 2021 to 2024 (In Million)
6.3.3 Rise of Insurtech in China
6.3.4 Device Protection by OEMs
6.3.4.1 Key OEMs in China Gadget Insurance Market
6.3.4.2 Market Size of Key OEMs for Mobile Insurance Market
6.3.4.3 Product and Strategy Analysis by OEMs:
6.3.4.4 Third Party Administrators of OEMSs:
6.3.5 Device Protection by E-Commerce Platform
6.3.6 Device Protection Offered by Carriers
6.3.7 Conclusion
7. China Gadget Insurance Market Analysis – by Type
7.1 Physical Damage
7.1.1 Overview
7.1.2 Physical Damage: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Theft and Loss Prevention
7.2.1 Overview
7.2.2 Theft and Loss Prevention: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
7.3 Others
7.3.1 Overview
7.3.2 Others: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
8. China Gadget Insurance Market Analysis – by Device Type
8.1 Laptop and PCS
8.1.1 Overview
8.1.2 Laptop and PCS: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Smartphones
8.2.1 Overview
8.2.2 Smartphones: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
8.3 Tablets
8.3.1 Overview
8.3.2 Tablets: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
8.4 Wearable Devices
8.4.1 Overview
8.4.2 Wearable Devices: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
8.5 Home Entertainment Devices
8.5.1 Overview
8.5.2 Home Entertainment Devices: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
8.6 Cameras
8.6.1 Overview
8.6.2 Cameras: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
8.7 Others
8.7.1 Overview
8.7.2 Others: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
9. China Gadget Insurance Market Analysis – by Sales Channel
9.1 Retail
9.1.1 Overview
9.1.2 Retail: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
9.2 Online
9.2.1 Overview
9.2.2 Online: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10. China Gadget Insurance Market Analysis – by End Users
10.1 Businesses
10.1.1 Overview
10.1.2 Businesses: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.2 Individual
10.2.1 Overview
10.2.2 Individual: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
11. Competitive Landscape
11.1 Company Positioning & Concentration
11.2 Heat Map Analysis by Key Players
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Product Development
12.4 Mergers & Acquisitions
13. Company Profiles
13.1 AT&T Inc
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Apple Inc
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Assurant Inc
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 AmTrust Financial Services, Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Chubb Ltd
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 American International Group Inc
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Samsung Electronics Co Ltd
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Huawei Technologies Co Ltd
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Allianz SE
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Axa SA
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
13.11 bolttech
13.11.1 Key Facts
13.11.2 Business Description
13.11.3 Products and Services
13.11.4 Financial Overview
13.11.5 SWOT Analysis
13.11.6 Key Developments
14. Appendix
14.1 Glossary
14.2 About The Insight Partners
List of Tables
Table 1. China Gadget Insurance Market Segmentation
Table 2. List of Vendors
Table 3. China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Table 4. China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 5. China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million) – by Device Type
Table 6. China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million) – by Sales Channel
Table 7. China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million) – by End Users
Table 8. Company Positioning & Concentration
List of Figures
Figure 1. China Gadget Insurance Market Segmentation, by Country
Figure 2. PEST Analysis
Figure 3. Ecosystem Analysis
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. China Gadget Insurance Market Revenue (US$ Million), 2021–2031
Figure 6. China Gadget Insurance Market Share (%) – by Type, 2023 and 2031
Figure 7. Physical Damage: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 8. Theft and Loss Prevention: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 9. Others: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 10. China Gadget Insurance Market Share (%) – by Device Type, 2023 and 2031
Figure 11. Laptop and PCS: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 12. Smartphones: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 13. Tablets: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 14. Wearable Devices: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 15. Home Entertainment Devices: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 16. Cameras: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 17. Others: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 18. China Gadget Insurance Market Share (%) – by Sales Channel, 2023 and 2031
Figure 19. Retail: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 20. Online: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 21. China Gadget Insurance Market Share (%) – by End Users, 2023 and 2031
Figure 22. Businesses: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 23. Individual: China Gadget Insurance Market – Revenue and Forecast to 2031 (US$ Million)
Figure 24. Heat Map Analysis by Key Players
- AT&T
- Apple Inc.
- ASSURANT, INC.
- AmTrust Financial
- American International Group Inc
- Chubb
- Allianz SE
- AXA SE
- Bolttech
- Samsung Electronics Co. Ltd
- HUAWEI Technologies
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the China gadget insurance market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations, such as specific country and segmental insight, highlight crucial progressive industry trends in the China gadget insurance market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution