Personal Gadget insurance - Global Stategic Business Report

The global market for Personal Gadget insurance was estimated at US$27.3 Billion in 2024 and is projected to reach US$47.4 Billion by 2030, growing at a CAGR of 9.6% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Personal Gadget insurance market.

Global Personal Gadget Insurance Market - Key Trends & Drivers Summarized

Why Is Personal Gadget Insurance Becoming an Essential Component of Digital Lifestyle Risk Management?

The rise of high-value consumer electronics including smartphones, tablets, laptops, smartwatches, and wireless earbuds has led to a surge in demand for personal gadget insurance. These devices, often used daily and carried everywhere, are vulnerable to accidental damage, loss, theft, and technical malfunctions. As gadgets become central to work, communication, health monitoring, and entertainment, consumers are increasingly seeking financial protection against unexpected repair or replacement costs. Traditional homeowner or renter insurance often provides limited coverage for portable electronics, prompting the rise of stand-alone gadget insurance policies.

The growing dependency on technology amplified by hybrid work models, e-learning, and increased travel has turned mobile devices into indispensable assets. For many users, the inconvenience of device downtime is just as impactful as the financial loss. Personal gadget insurance fills this gap by offering tailored coverage, fast claims processing, and doorstep service options. As digital natives and tech-savvy professionals look for seamless coverage and instant support, insurers are responding with app-based interfaces, embedded policy options, and on-demand protection for single or multiple devices.

How Are Insurtech Platforms and Customization Capabilities Reshaping Product Design and User Experience?

Digital transformation in the insurance sector is driving a wave of innovation in personal gadget protection. Insurtech firms are developing user-centric platforms that leverage artificial intelligence, behavioral analytics, and APIs to offer dynamic pricing, instant underwriting, and automated claims processing. Some platforms use smartphone diagnostics to validate device health at onboarding and post-damage, reducing fraud and improving accuracy. Policyholders can now activate coverage with a few taps, track claims in real time, and access repairs through certified service networks.

Customization is a defining trend. Users can select deductibles, coverage tiers, theft protection add-ons, and geographical limits based on their lifestyle and risk profile. “Pay-as-you-protect” and microinsurance models are allowing customers to insure devices for short durations ideal for travelers, event attendees, and rental users. OEMs and e-commerce platforms are integrating gadget insurance at the point of sale, improving accessibility and boosting penetration rates. These innovations are turning personal gadget insurance from a reactive product into a proactive.

Which Customer Segments and Device Categories Are Driving Market Expansion Globally?

Young professionals, students, gig economy workers, and frequent travelers are the primary adopters of personal gadget insurance, as their mobile devices serve as tools for work, education, and lifestyle management. Business users, content creators, and digital nomads are also increasingly insuring expensive devices such as laptops, DSLRs, drones, and smart accessories to minimize disruptions and financial liabilities. Corporate clients are adopting bundled device insurance for employees under BYOD (bring-your-own-device) and remote working policies.

Smartphones remain the highest-insured category, followed by laptops, tablets, and smartwatches. Wearable tech, fitness trackers, and smart home devices are emerging areas of interest. Geographically, North America and Western Europe lead the market, driven by high device penetration, e-commerce maturity, and consumer awareness. Asia-Pacific is growing rapidly due to increasing smartphone adoption, online insurance distribution, and rising middle-class income. Countries like India, China, Japan, and South Korea are seeing digital-first insurance models scale significantly through fintech and telco partnerships.

What Is Powering Long-Term Growth and Strategic Differentiation in the Gadget Insurance Market?

The growth in the personal gadget insurance market is driven by rising consumer electronics dependency, frequent upgrade cycles, and the growing cost of device repair or replacement. As gadgets integrate more tightly with financial, health, and identity functions, the stakes for device security and continuity are increasing. Customers now expect rapid claim turnaround, seamless user interfaces, and omnichannel support turning service quality into a key competitive differentiator.

Strategically, insurers are forging partnerships with device OEMs, telecom providers, e-retailers, and payment platforms to embed insurance into broader product ecosystems. Advanced risk modeling, location-based personalization, and blockchain-powered claim verification are enabling smarter underwriting and trust building. Value-added services such as data recovery, antivirus support, and extended warranties are being bundled to increase stickiness. With smart devices proliferating across consumer life and work scenarios, the demand for responsive, digitally native gadget protection solutions will continue to grow, making it a central pillar of next-generation personal insurance.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Mobile Phones & Tablets segment, which is expected to reach US$16.5 Billion by 2030 with a CAGR of a 7.9%. The Laptops & PCs segment is also set to grow at 11.9% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $7.4 Billion in 2024, and China, forecasted to grow at an impressive 12.9% CAGR to reach $9.5 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Personal Gadget insurance Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Personal Gadget insurance Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Personal Gadget insurance Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of players such as AIG, Akko, Allianz, Assurant, and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 42 companies featured in this Personal Gadget insurance market report include:

• AIG
• Akko
• Allianz
• Assurant
• Asurion
• AT&T
• Bajaj Allianz General Insurance
• Bolttech
• Chubb
• Likewize
• OneAssist Consumer Solutions
• Progressive Casualty Insurance
• SquareTrade
• Starr Insurance Companies
• Switched On Insurance
• Trusted Insurances
• Virgin Money
• Vodafone
• Worth Ave. Group
• Zurich Insurance Group

This edition integrates the latest global trade and economic shifts as of June 2025 into comprehensive market analysis. Key updates include:

• Tariff and Trade Impact: Insights into global tariff negotiations across 180+ countries, with analysis of supply chain turbulence, sourcing disruptions, and geographic realignment. Special focus on 2025 as a pivotal year for trade tensions, including updated perspectives on the Trump-era tariffs.
• Adjusted Forecasts and Analytics: Revised global and regional market forecasts through 2030, incorporating tariff effects, economic uncertainty, and structural changes in globalization. Includes segmentation by product, technology, type, material, distribution channel, application, and end-use, with historical analysis since 2015.
• Strategic Market Dynamics: Evaluation of revised market prospects, regional outlooks, and key economic indicators such as population and urbanization trends.
• Innovation & Technology Trends: Latest developments in product and process innovation, emerging technologies, and key industry drivers shaping the competitive landscape.
• Competitive Intelligence: Updated global market share estimates for 2025, competitive positioning of major players (Strong/Active/Niche/Trivial), and refined focus on leading global brands and core players.
• Expert Insight & Commentary: Strategic analysis from economists, trade experts, and domain specialists to contextualize market shifts and identify emerging opportunities.
• Complimentary Update: Buyers receive a free July 2025 update with finalized tariff impacts, new trade agreement effects, revised projections, and expanded country-level coverage.