Market Size of Europe Electronic Gadgets Insurance Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Electronic Gadgets Insurance Market Analysis
During the COVID-19 pandemic, people were forced to stay indoors and ordered to finish all of their office work online due to lockdown limitations. Firms were restructured to allow employees to work from home. Schools, the working class, and students were all taught online, leading them to purchase advanced equipment like laptops, mobile devices, and tablets to increase the quality of their experience and support market development.
The market in Europe is expected to develop due to an increase in the use of gadget insurance among students to protect their devices from various situations and an increase in demand for various types of gadgets among the general population. Furthermore, the industry is being propelled forward by increasing digitization worldwide. On the other hand, new entrants in the industry offer reduced premium rates to clients are impeding the sector's growth. On the other hand, the surge in demand to cover gadgets and devices, seen as an opportunity for the gadget insurance market because most of them are extremely costly and cannot be replaced if broken or lost, is seen as a threat to the gadget insurance industry.
