India Electronic Gadget Insurance Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The report covers Gadget Insurance Companies in India and the market is Segmented by Coverage Type (Physical Damage, Electronic Damage, Data Protection, Virus Protection and Theft Protection), Device Type (Laptops, Computers, Cameras, Mobile Devices, and Tablets), and End User (Corporate and Individual).

India Electronic Gadget Insurance Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

India Electronic Gadget Insurance Market Size

India Electronics Gadget Insurance Market Overview
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2020 - 2023
CAGR 4.00 %
Market Concentration Medium

Major Players

India Electronics Gadget Insurance Market Companies

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of India Electronic Gadget Insurance Market with other markets in Financial Services and Investment Intelligence Industry

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India Electronic Gadget Insurance Market Analysis

The India Electronic Gadget Insurance Market is expected to register a CAGR of greater than 4% during the forecast period.

During COVID-19, demand for various types of gadgets has been growing exponentially. The majority of the growth contributed to the increased demand for gadgets is attributed to the COVID-19 pandemic. The demand for smartphones and laptops witnessed a sharp rise, which, in turn, positively impacted the growth of the market because activities were operated online. Since the majority of the population are staying home, most of them have started to explore their interests. For instance, many people pursued photography as one of their interests during this lockdown period, and thus the demand for professional cameras gradually increased.

Over eight-in-ten consumers own a mobile phone and over eight-in-ten own electronic gadgets like computers, digital cameras, tablets, games consoles, e-readers, and smartwatches in India, only 16% of consumers who own mobile for personal use own insurance and 7% of gadget owners have gadget insurance. Therefore, there is ample potential to expand the market, although past attempts have clearly not driven penetration to high levels. Most mobile phone and gadget insurance policyholders own a standalone policy, and most policyholders pay for their cover on a monthly basis. However, just under half own insurance cover which is bundled with other financial products (mostly packaged bank accounts for mobile cover and other insurances - most likely home insurance - for gadget cover).

India Electronic Gadget Insurance Industry Overview

India Electronics Gadget Insurance Market is moderatly consolidated in nature. Some of the major players operating currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies is increasing their market presence by securing new contracts and by tapping new markets.

India Electronic Gadget Insurance Market Leaders

  1. New India Assurance

  2. Bajaj Allianz

  3. Oriental Insurance Company

  4. National Insurance Co.

  5. ICIC Lombard

  6. *Disclaimer: Major Players sorted in no particular order
New India Assurance, Bajaj Allianz, Oriental Insurance Company, National Insurance Co., ICIC Lombard
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India Electronic Gadget Insurance Market News

  • ln March 2022,Airtel Payments Bank customers can now buy smartphone insurance from ICICI Lombard General Insurance Company on the Airtel Thanks app. With this, Airtel Payments Bank has further strengthened its insurance offering available on its digital platform
  • In 2021,Digital insurance startup, ACKO, is the 34th unicorn of 2021 with a fresh $255 million Series D fundraiser led by General Atlantic. ACKO claims to be one of India's first digital-native insurers and has pioneered the direct-to-consumer auto insurance space in the country. It also has one of the largest market shares in embedded insurance products like mobility and gadget insurance across large digital consumer platforms like Amazon, MakeMyTrip, Ola, Urban Company, Bajaj Finance and others.

India Electronic Gadget Insurance Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Defination
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

  • 2.1 Study Deliverables
  • 2.2 Study Assumptions
  • 2.3 Analysis Methodology
  • 2.4 Research Phases

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS AND DYNAMICS

  • 4.1 Market Overview
  • 4.2 Market Drivers
  • 4.3 Market Restraints
  • 4.4 Insights into Latest Technologies used in the Industry
  • 4.5 Industry Attractiveness- Porter's Five Forces Analysis
    • 4.5.1 Threat of New Entrants
    • 4.5.2 Bargainning Power of Buyers
    • 4.5.3 Bargainning Power of Suppliers
    • 4.5.4 Threat of Substitutes
    • 4.5.5 Intensity of Competative Rivalry
  • 4.6 Impact of COVID-19 on the Market

5. MARKET SEGMENTATION

  • 5.1 By Coverage Type
    • 5.1.1 Physical Damage
    • 5.1.2 Electronic Damage
    • 5.1.3 Data Protection
    • 5.1.4 Virus Protection
    • 5.1.5 Theft Protection
  • 5.2 Device Type
    • 5.2.1 Laptops
    • 5.2.2 Computers
    • 5.2.3 Cameras
    • 5.2.4 Mobile Devices
    • 5.2.5 Tablet
  • 5.3 By End User
    • 5.3.1 Corporate
    • 5.3.2 Individual

6. COMPETITIVE LANDSCAPE

  • 6.1 Market Concentration Overview
  • 6.2 Company Profiles
    • 6.2.1 Bajaj Allianz Group
    • 6.2.2 New India Insurance
    • 6.2.3 Oriental Insurance Co Ltd
    • 6.2.4 National Insurance Co. Ltd
    • 6.2.5 ICICI Lombard
    • 6.2.6 HDFC Ergo
    • 6.2.7 Times Global
    • 6.2.8 Policybazar
    • 6.2.9 SyskaGadjet Secure*
  • *List Not Exhaustive

7. FUTURE TRENDS AND MARKET OPPORTUNITIES

8. APPENDIX

9. DISCLAIMER

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India Electronic Gadget Insurance Industry Segmentation

Gadget insurance covers insurance of various different gadgets against accidental damage, liquid or water damage, theft, burglary, and fire damage. Cell phones, laptops, digital cameras, computers, and other gadgets are covered in this insurance. Furthermore, when a customer's device is stolen, damaged, or lost, insurance companies compensate them for their loss, which further varies from policy to policy. India Electronic Gadget Insurance Market is Segmented by Coverage Type (Physical Damage, Electronic Damage, Data Protection, Virus Protection and Theft Protection), Device Type (Laptops, Computers, Cameras, Mobile Devices, and Tablets), and End User (Corporate and Individual).

By Coverage Type Physical Damage
Electronic Damage
Data Protection
Virus Protection
Theft Protection
Device Type Laptops
Computers
Cameras
Mobile Devices
Tablet
By End User Corporate
Individual
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India Electronic Gadget Insurance Market Research FAQs

What is the current India Electronic Gadget Insurance Market size?

The India Electronic Gadget Insurance Market is projected to register a CAGR of greater than 4% during the forecast period (2025-2030)

Who are the key players in India Electronic Gadget Insurance Market?

New India Assurance, Bajaj Allianz, Oriental Insurance Company, National Insurance Co. and ICIC Lombard are the major companies operating in the India Electronic Gadget Insurance Market.

What years does this India Electronic Gadget Insurance Market cover?

The report covers the India Electronic Gadget Insurance Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the India Electronic Gadget Insurance Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

India Electronic Gadget Insurance Industry Report

Statistics for the 2025 India Electronic Gadget Insurance market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Electronic Gadget Insurance analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.