As personal technology becomes increasingly integral to daily life, the Personal Gadget Insurance Market is experiencing a surge in demand. Smartphones, tablets, smartwatches, laptops, and even drones have become essential tools for both personal and professional use. With this dependence comes increased risk — and insurance companies are taking notice.
Market Overview
The personal gadget insurance market has evolved from a niche offering into a significant segment within the broader insurance industry. As of 2025, the global market is estimated to be worth over USD 12 billion, with forecasts projecting a CAGR of 11–13% through 2030. This growth is fueled by rising device costs, consumer awareness of risk, and the proliferation of IoT and wearable technologies.
Key Drivers
Increased Device Value: Modern gadgets come with high price tags and sensitive data. Consumers are more willing than ever to pay for protection.
Frequent Damage and Theft: Accidental damage, screen cracks, water exposure, and theft are common — prompting the need for comprehensive insurance plans.
Consumer Awareness: Tech-savvy consumers now see gadget insurance as a logical extension of their digital lifestyle protection.
E-commerce & Online Subscriptions: Insurance is now often bundled with device purchases online, making it more accessible and convenient.
Market Segmentation
The market can be segmented by:
Type of Gadget: Smartphones, laptops, tablets, wearables, cameras, drones.
Coverage Type: Accidental damage, theft, loss, mechanical breakdown, cyber threats.
End-User: Individuals, students, remote workers, gig economy professionals.
Regional Insights
North America and Europe currently dominate the market, driven by high device penetration and consumer awareness.
Asia-Pacific is the fastest-growing region, with expanding middle-class populations, mobile-first economies, and increased digital adoption in countries like India, China, and Southeast Asia.
Challenges and Opportunities
Challenges: High claim rates, fraud, and limited consumer understanding in emerging markets.
Opportunities: Integration with OEMs and mobile carriers, AI-driven claim processing, flexible micro-insurance products, and bundled services.
Key Players
Notable companies in the space include:
AppleCare
Samsung Care+
Asurion
Worth Ave Group
AKKO
Safeware
Insurtech startups are also disrupting the space by offering subscription-based, on-demand, and customizable coverage options with digital-first experiences.
Get More Details:
https://www.databridgemarketresearch.com/reports/global-personal-gadget-insurance-market
Future Outlook
As technology continues to evolve, so will the personal gadget insurance market. AI-powered risk assessment, blockchain for claim transparency, and tailored coverage for new device categories (like AR/VR headsets) are poised to transform the industry.
The convergence of rising digital reliance, smart gadgets, and consumer demand for security positions the personal gadget insurance market for sustained and lucrative growth.
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