China Gadget Insurance Market Growth and Forecast by 2031
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)
- Status : Published
- Report Code : TIPRE00039318
- Category : Banking, Financial Services, and Insurance
- No. of Pages : 110
- Available Report Formats :
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The physical damage coverage type segment led the China gadget insurance market with a significant share in 2023.
The China gadget insurance market is expected to reach US$ 20.49 billion by 2031.
The key players holding majority shares in the China gadget insurance market include Assurant, AT&T, Apple, Chubb, Huawei, and VivaCover.
The shift toward digital insurance platforms and integration with e-commerce and tech-retailer companies is expected to drive the growth of the China gadget insurance market in the coming years.
The rise in sales of mobile phones and wearables, increased awareness of gadget insurance, insurtech development in China, and customized policies for specific gadgets are driving factors in the China gadget insurance market.
The China gadget insurance market was estimated to be valued at US$ 6.40 billion in 2023 and is projected to reach US$ 20.49 billion by 2031; it is anticipated to grow at a CAGR of 15.6% over the forecast period.
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
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The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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