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Extended warranty: a European multi-billion market!

2011th September 22, Thursday 8:04

Whether you can reach 7 billion by2014, valid for mobile devices, and extended warrantyinsurance market in Europe.

Extended warranties and insurance for mobile devices and phonesmarket after the start Quinones himself in the entertainmentelectronics (brown goods) for domestic small and large appliances(white goods) as well as computer products (gray goods) market. In2010, mobile phones, and mobile devices valid for the extendedwarranty and insurance market amounted to 5.58 billion euros in

Europe - according to a Finaccord financial research and consulting firm data. It 2.55 billion eurosrelated to the white, brown and szürkeárukhoz, and 3.03 billion mobile phones . The whole Europe - 20countries - involving the market within the UK market 30%, and 1.74 billion euros last year. Finaccord Apredicts that the same extended warranty market in twenty countries by 2014, up to a quarter, 7.12billion might be increased, within which the 4.35 billion mobile devices, 2.76 billion euros for the non-connected mobile devices. The white, brown and gray goods segment of the projected growth of 8.3percent is much lower than the market for mobile devices expected 43.7% growth, which is part of theunderlying growth potential of markets can be explained.

In relative terms, the United Kingdom, Ireland, Italy, and the most advanced markets in Europe, where 40percent of household appliance manufacturers offer extended warranty service. Until 2014, the market isprojected to Poland and Russia is among the top ten will go.

Alan Leach, Director of the Finaccord said: "The more expensive notebook computers and mobilephones, consumer demand for growth, comprehensive and hence more expensive insurance policiesrelated to the proliferation and the potential benefits of such insurance by consumers el-/felismerése allcontribute to the mobile devices associated with the extended warranty, and insurance marketexpansion. " By contrast, non-mobile devices market is more mature, so any price, the service rate ofnon-anticipated big changes - added a driver. In April the British Consumer Protection Inspectorate(OFT) announced that the electronic equipment expanded guarantees and insurance as part of a testmarket for a short market research activities. The research aims to examine the market competition,after the OFT in 2008, proposed a market selling off-site, third party prior to the opening. Leach to theresults, said: "The Finaccord research has shown that while the UK is Europe's largest market with othercountries in continental Europe compared to the much more widely available from the extended warrantyand insurance services. In addition, they also provide much broader protection to consumers. "Finaccord report of 20 countries: Austria, Belgium, Czech Republic, Denmark, Finland, France,Germany, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Romania, Russia, Spain , Sweden,Switzerland, Turkey and the UK market only. The extended warranty insurance and the generalmechanical / technical failure it will cover, although in some cases the damage is covered.