The Electronic Equipment Repair Service by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Electronic Equipment Repair Service, The electronic equipment repair service market size has grown strongly in recent years. It will grow from $112.26 billion in 2023 to $121.06 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to consumer demand for extended lifespan, shift towards sustainability, rise in high-value devices, consumer awareness and rights, industry collaboration..
The electronic equipment repair service market size is expected to see strong growth in the next few years. It will grow to $163.2 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to rising complexity of electronics, extended product lifecycles, shift towards circular economy, growing iot and smart devices, specialized component repair.. Major trends in the forecast period include collaboration between manufacturers and repair service providers, regulations and “right to repair” movements, advancements in iot repair solutions, consumer preferences for sustainability, rise in complexity of electronics..
Rising demand for electronic products is significantly contributing to the growth of the electronic equipment repair service market going forward. Electronic products refer to any electronic equipment made to be purchased and utilized regularly for non-commercial or professional uses by consumers. Electronic equipment repair services are used for the repair and maintenance of electronic products and consumer electronics. Most electronic devices used by consumers use flexible electronics, so as consumer electronics become more popular, market demand rises as well. For instance, according to published data by StockApps.com, a Kenya-based website that attempts to inform investors about the various stock apps available, in 2021, the global consumer electronics revenues were expected to grow 3.6% year-over-year and hit $1.06 trillion, up from $1.02 trillion in 2020. Therefore, rising demand for electronic products will drive the market for electronic equipment repair services.
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The electronic equipment repair service market covered in this report is segmented –
1) By Types: Consumer Electronics, Home Appliances, Industrial Equipment, Medical Equipment
2) By Warranty Type: In Warranty, Out of Warranty
3) By End-Users: Commercial and Industrial, Residential
Top Major Players:
B2X Care Solutions GmbH
Electronix Services
Encompass Supply Chain Solutions Inc
Global Electronic Services Inc
iCracked Inc
Asia-Pacific was the largest region in the electronic equipment repair service market in 2023.
Major companies operating in the electronic equipment repair service market are focused on providing self-service repair with unique features such as direct access to genuine parts to further provide customers with more options for secure repairs. Genuine parts refer to components or materials that are manufactured, produced, or authorized by the original equipment manufacturer (OEM) and meet the specifications and quality standards set by the OEM. For instance, in December 2022, Apple Inc., a US-based computer and consumer electronics company launched its Self-Service Repair program in eight European countries. The program allows customers to purchase genuine Apple parts and tools for DIY repairs on iPhone 12, iPhone 13, and Mac notebooks with Apple silicon. The Self-Service Repair Store offers over 200 individual parts and tools, along with repair manuals, giving experienced users access to the same resources used by Apple Store locations and authorized service providers.
The electronic equipment repair service market report table of contents includes:
1. Executive Summary
2. Electronic Equipment Repair Service Market Characteristics
3. Electronic Equipment Repair Service Market Trends And Strategies
4. Electronic Equipment Repair Service Market – Macro Economic Scenario
5. Global Electronic Equipment Repair Service Market Size and Growth
….
31. Global Electronic Equipment Repair Service Market Competitive Benchmarking
32. Global Electronic Equipment Repair Service Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Electronic Equipment Repair Service Market
34.Electronic Equipment Repair Service Market Future Outlook and Potential Analysis
35.Appendix
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