How large is the electronic and precision equipment repair and maintenance market, and what is its growth trajectory?
The electronic and precision equipment repair and maintenance market size has grown strongly in recent years. It will grow from $141.43 billion in 2024 to $150.36 billion in 2025 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to industrial machinery and equipment, medical devices, electronics and consumer devices, aerospace and defense equipment.
The electronic and precision equipment repair and maintenance market size is expected to see strong growth in the next few years. It will grow to $185.79 billion in 2029 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to advanced technologies, healthcare equipment maintenance, smart manufacturing, consumer electronics. Major trends in the forecast period include advanced technologies integration, predictive and preventive maintenance, remote maintenance and monitoring, sustainability and circular economy.
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What are the key forces behind the electronic and precision equipment repair and maintenance market’s growth in recent years?
An increase in sales of personal computing devices (PCD’s) is expected to propel the growth of the electronic and precision equipment repair and maintenance market. Personal computing devices refer to consumer devices such as desktop computers, laptops, smartphones, and tablets. Due to the pandemic, there was an increase in the number of people working from home, leading to an increase in PCD sales. With more people using PCD’s there is an increase in the need for maintenance and repair for such devices. For instance, in July 2024, according to Adobe Inc., a US-based digital media and digital marketing solution company, consumers spent a record $14.2 billion during the two-day Prime Day event, marking an 11% year-over-year growth, with significant increases in sales of tablets (117%) and computers (80%). Therefore, the increase in the sale of personal computing devices is expected to drive the electronic and precision equipment repair and maintenance market going forward.
What are the major segments of the electronic and precision equipment repair and maintenance market?
The electronic and precision equipment repair and maintenance market covered in this report is segmented –
1) By Type: Consumer Electronics Repair And Maintenance, Computer And Office Machine Repair And Maintenance, Communication Equipment Repair And Maintenance, Other Electronic And Precision Equipment Repair And Maintenance
2) By Mode: Online, Offline
3) By Service Type: Inspection, Maintenance, Repair
Subsegments:
1) By Consumer Electronics Repair And Maintenance: Television Repair, Audio Equipment Repair, Home Appliance Repair, Camera And Video Equipment Repair, Gaming Console Repair
2) By Computer And Office Machine Repair And Maintenance: Laptop And Desktop Repair, Printer And Copier Repair, Network Equipment Repair, Peripheral Device Repair (Scanners, Keyboards)
3) By Communication Equipment Repair And Maintenance: Mobile Phone Repair, Satellite Communication Equipment Repair, Wireless Communication Equipment Repair, Radio And Television Broadcasting Equipment Repair
4) By Other Electronic And Precision Equipment Repair And Maintenance: Medical Equipment Repair, Industrial Equipment Repair, Aerospace Equipment Repair, Scientific Instruments Repair
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Which companies dominate the electronic and precision equipment repair and maintenance market?
Major companies operating in the electronic and precision equipment repair and maintenance market include Juniper Networks Inc., Emcor Group, Illinois Tool Works Inc., Tsubakimoto Chain Co, Apple Inc., Electronix Services, Encompass Supply Chain Solutions Inc., Global Electronic Services Inc., iCracked Inc., Mendtronix Inc., MicroFirst Gaming Inc., Quanzhou Journey Bags Co. Ltd., Quest International Inc., OTC Industrial Technologies, Precision Electronic Repair Services, ACS Industrial Services Inc., iFixIt, ABB Ltd., Agilent Technologies Inc., Ametek Inc., Anritsu Corporation, Avnet Inc., Belden Inc., Benchmark Electronics Inc., Tech Pros, Precision Electronics Ltd., Advanced Control Solutions Inc., Microtech Services Ltd., MTAR Technologies Ltd., Techtonic Innovations Ltd., RoboTech Services Ltd.
What major trends will shape the electronic and precision equipment repair and maintenance market during the forecast period?
Companies involved in the repair and maintenance of electronic equipment are using artificial intelligence (AI)-predictive analysis for increasing the quality of their services. This analysis with the use of IoT technology sensors enables the service providers to identify the critical part which can fail and understand the current status of the components. Companies including Neuron Soundware and KONUX use AI-predictive maintenance to identify anomalies and improve the detection and identification of potential breakdown causes.
What are the key regional dynamics of the electronic and precision equipment repair and maintenance market, and which region leads in market share?
Western Europe was the largest region in the electronic and precision equipment repair and maintenance market in 2023. Asia-Pacific was the second-largest region in the electronic and precision equipment repair and maintenance market. The regions covered in the electronic and precision equipment repair and maintenance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Electronic and Precision Equipment Repair and Maintenance Market Report 2025 Offer?
The electronic and precision equipment repair and maintenance market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Electronic equipment repair and maintenance refers to repairing and maintaining equipment used in electronic systems such as electronic components and circuits. Precision equipment repair and maintenance refers to the process of repair and maintenance of precision equipment that provides accurate measurement results.
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