20-Mar-2020 | Facts and Factors
Findings from Facts and Factors report “Electronic Equipment Repair Service Market By Product (Consumer Electronics, Home Appliances, Medical Equipment, and Industrial Equipment), By Application (Commercial and Industrial/Residential), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Electronic Equipment Repair Service market in 2019 was approximately USD 108.3 Billion. The market is expected to grow at a CAGR of 8.5% and is anticipated to reach around USD 188.3 Billion by 2026.
Electronic equipment repair service providers aim at providing repair services for medical equipment, consumer electronics, home appliances, and industrial equipment. The individual with a fragile financial position or financially weak nation is projected to help propel the global Electronic Equipment Repair Service market.
Browse the full “Electronic Equipment Repair Service Market By Product (Consumer Electronics, Home Appliances, Medical Equipment, and Industrial Equipment), By Application (Commercial and Industrial/Residential), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/global-electronic-equipment-repair-service-market-by-product-834
Market Drivers:
The increasing fragility in economic conditions and the low disposable income of individuals in various regions will help in the unprecedented growth of the global Electronic Equipment Repair Service market. The increasing demand for electronic products such as televisions, smartphones, laptops, air conditioners, etc. has increased the requirement for maintenance and repair services. Additionally, the increasing adoption of automated systems in the manufacturing sector has surged the use of electronic solutions which, in turn, will accelerate the growth of the global Electronic Equipment Repair Service market. Furthermore, the increasing prices of the electronic products are compelling the customers to opt for electronic equipment repair services or refurbished equipment which will successively surge the market growth during the forecast period. However, the lack of skilled technicians and high costs of the maintenance services are predicted to restrain the Electronic Equipment Repair Service market growth.
Market Segment Dominance:
- Consumer electronics category is expected to exhibit the highest growth rate during the forecast period
The increasing adoption of various consumer electronics such as smartphones, washing machines, televisions, laptops, etc. is expected to help expand the consumer electronics category by repairing or refurbishing the current devices instead of investing in new products. Moreover, the rising use of the Internet has increased the demand for portable connected devices. This is projected to fuel the expansion of the Electronic Equipment Repair Service market over the forecast timeframe.
- The residential category is projected to witness the majority of the growth
The increasing use of consumer electronics in the daily lifestyle is predicted to increase the market growth of the residential category. In addition to this, the favorable government policies in terms of e-waste management help electronic equipment repairing and recycling activities boom which, in turn, will bolster the development of the global Electronic Equipment Repair Service market. The electronic equipment insurance will also accelerate the Electronic Equipment Repair Service market.
Regional Dominance:
- Asia Pacific exhibits the highest CAGR in the global Electronic Equipment Repair Service market
The Asia Pacific Electronic Equipment Repair Service market is expected to grow at a significant rate owing to the high adoption of consumer electronic products in the region. The emerging regions including China, India, Taiwan, and South Korea are excelling in the production and sales of electronic solutions such as smartphones, tablets, and other technologies in the country, thereby augmenting the global Electronic Equipment Repair Servicemarketgrowth. Apart From this, the feasible maintenance and repair services provided by the service providers in the region will also aid the market expansion.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 108.3 Billion |
Projected Market Size in 2026 |
USD 188.3 Billion |
CAGR Growth Rate |
8.5% CAGR |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
Moduslink Global Solutions, B2X CARE SOLUTIONS GMBH, Encompass Supply Chain Solutions Inc., iCracked Inc., uBreakiFix, Mendtronix Inc., Redington Services, Electronix Services, MicroFirst Gaming Inc., Quest International Inc., The Cableshoppe Inc., Global Electronic Services Inc., and Others |
Key Segment |
By Product, Application, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Market Players:
Some of the key players in the global Electronic Equipment Repair Service market include Moduslink Global Solutions, B2X CARE SOLUTIONS GMBH, Encompass Supply Chain Solutions Inc., iCracked, Inc., uBreakiFix, Mendtronix Inc., Redington Services, Electronix Services, MicroFirst Gaming Inc., Quest International, Inc., The Cableshoppe Inc., and Global Electronic Services, Inc.
This report segments the global Electronic Equipment Repair Service market as follows:
Global Electronic Equipment Repair Service Market: Product Segmentation Analysis
- Consumer electronics
- Smartphones &Mobile Phones
- Televisions
- Notebooks & laptops
- Tablets
- Others
- Home Appliances
- Refrigerators
- Air Conditioners
- Microwaves
- Washing Machines
- Others
- Medical Equipment
- Medical Monitors
- Lab Equipment
- Dental Clinic Equipment
- Ventilators
- CT Scanners
- Others
- Industrial Equipment
- Laser Equipment
- Voltmeter
- Pulse & Signal Generator
- Frequency Counters
- Machinery
- Motors & Generators
- Others
Global Electronic Equipment Repair Service Market:ApplicationSegmentation Analysis
- Commercial/Industrial
- Residential
Global Electronic Equipment Repair Service Market: Regional Segmentation Analysis
- North America
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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