An extended warranty is something offered to consumers by retailers either as a service the retailer offers or on behalf of the manufacturer. These extended warranties vary greatly in terms of what they cover and duration. Today’s market size is an estimate of the number of such warranties sold annually in the United States.

Geographic reference: United States
Year: 2010
Market size: 250 million warranties annually
Source: Newman, Andrew Adams,”Old-Time Torture Tests Resurface on YouTube, and Tablets Take a Licking,” The New York Times, page B6, June 10, 2011, available online here.