Electronic warranty services are on the rise because of the growing use of electronic devices. These warranties cover accidental damage, theft, and cracked screens. These services are highly sought-after due to the increasing safety awareness. In addition, the rising number of price conscious consumers is also a major factor in the expansion of this market.
The industry is divided into several segments. The retail segment is expected to grow at the highest rate of CAGR, followed closely by the manufacturing level segment. Many customers prefer the retail segment because it provides additional benefits like extended warranties. This segment also provides specific services in warranty administration. Its primary objective is to make sure that consumers get the most value for their money.
OnPoint Warranty
Extended warranties provide additional protection for electronic devices. A typical warranty for electronics is $136. This is a fair price and protects against accidental damage. Broken displays are one instance of a frequent problem.
