The global market for Personal Gadget Insurance was valued 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.
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.
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, data-driven service experience.
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.
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.
Segments: Gadget Type (Mobile Phones & Tablets, Laptops & PCs, Cameras, Gaming Systems, Other Gadget Types); Insurance Coverage (Physical Damage Insurance Coverage, Theft & Loss Protection Insurance Coverage, Internal Component Failure Insurance Coverage, Other Insurance Coverages); End-Use (Individual End-User, Corporate End-User); Distribution Channel (Online Distribution Channel, Offline Distribution Channel).
Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
The analysts continuously track trade developments worldwide, drawing insights from leading global economists and over 200 industry and policy institutions, including think tanks, trade organizations, and national economic advisory bodies. This intelligence is integrated into forecasting models to provide timely, data-driven analysis of emerging risks and opportunities.
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, data-driven service experience.
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.
Report Scope
The report analyzes the Personal Gadget insurance market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.Segments: Gadget Type (Mobile Phones & Tablets, Laptops & PCs, Cameras, Gaming Systems, Other Gadget Types); Insurance Coverage (Physical Damage Insurance Coverage, Theft & Loss Protection Insurance Coverage, Internal Component Failure Insurance Coverage, Other Insurance Coverages); End-Use (Individual End-User, Corporate End-User); Distribution Channel (Online Distribution Channel, Offline Distribution Channel).
Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Mobile Phones & Tablets Insurance segment, which is expected to reach US$16.5 Billion by 2030 with a CAGR of a 7.9%. The Laptops & PCs Insurance 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, Asurion 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
Tariff Impact Analysis: Key Insights for 2025
Global tariff negotiations across 180+ countries are reshaping supply chains, costs, and competitiveness. This report reflects the latest developments as of April 2025 and incorporates forward-looking insights into the market outlook.The analysts continuously track trade developments worldwide, drawing insights from leading global economists and over 200 industry and policy institutions, including think tanks, trade organizations, and national economic advisory bodies. This intelligence is integrated into forecasting models to provide timely, data-driven analysis of emerging risks and opportunities.
What's Included in This Edition:
- Tariff-adjusted market forecasts by region and segment
- Analysis of cost and supply chain implications by sourcing and trade exposure
- Strategic insights into geographic shifts
Buyers receive a free July 2025 update with:
- Finalized tariff impacts and new trade agreement effects
- Updated projections reflecting global sourcing and cost shifts
- Expanded country-specific coverage across the industry
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISCANADAITALYSPAINRUSSIAREST OF EUROPESOUTH KOREAREST OF ASIA-PACIFICARGENTINABRAZILMEXICOREST OF LATIN AMERICAIRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EASTIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
UNITED KINGDOM
ASIA-PACIFIC
AUSTRALIA
INDIA
LATIN AMERICA
MIDDLE EAST
AFRICA
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 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
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 474 |
| Published | May 2025 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 27.3 Billion |
| Forecasted Market Value ( USD | $ 47.4 Billion |
| Compound Annual Growth Rate | 9.6% |
| Regions Covered | Global |
