Global Electronic Equipment Repair Service Market Expected to Reach US$ 147.24 Bn by 2024: Transparency Market Research

According to a new market research report published by Transparency Market Research  entitled “Electronic Equipment Repair Service Market– Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 – 2024, the global electronic equipment repair service market accounted for US$ 72.30 Bn in 2015 and is anticipated to grow at a CAGR of 8.5% from 2016 to 2024, reaching US$ 147.24 Bn by the end of forecast period (from 2016 to 2024).

Electronics is a major part of physics which is used for designing circuits having microchips, transistors and many other inbuilt components. The electronic equipment repair service providers offer repair services for equipment such as television, smart phones, mobile phones, set-top boxes, medical equipment, industrial equipment and others. At present, the electronic equipment repair service market is expanding at a high rate due to the increasing equipment failure rates and cost benefits of repairing old equipment instead of disposing.

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The increasing use of high-speed internet through various consumer electronics equipment such as tablets and smart phones and notebooks is expected to further increase the demand for electronic equipment repair services in the forthcoming years. The increased affordability of various electronics equipment such as smart phones, televisions, set-top boxes has surged their adoption among the end-users globally. As the adoption of electronic equipment rises, the possibility of damage of both low and high cost products is also anticipated to increase, which is consequently expected to fuel the growth of the electronic equipment repair service industry over the forecast period. Currently, the market comprises of players providing repair and maintenance services to the consumers. Service providers are looking for a comprehensive service and maintenance solution and high quality spare parts which provide improved experience compared to traditional repair services and better meet the requirement of their customers.

Among the geographies, Europe held the large market share of around 30% in the global electronic equipment repair service market in 2015. The increasing government regulations for e-waste management support electronic equipment repairing & recycling activities in Europe. Moreover, adoption of electronic equipment is increased across the region due to continuous innovations and technological advancements in electronic equipment technologies. The rise in advanced repairing solution offerings provided by service providers has led to the growth of the electronic equipment repair service industry across the different regions.

In 2015, consumer electronics repair segment held the largest share among all product types in North America. The Asia Pacific market is anticipated to develop significantly at the CAGR of 8.8% over the forecast period. Smart phones segment followed by tablets segment are anticipated to contribute largest market share over the forecast period. In APAC, China is expected to be the major contributor of the electronic equipment repair service market over the forecast period. Middle East and Africa (MEA), and South America are anticipated to hold less market revenue as compared to other regions over the forecast period. The consumer electronics segment for both South America and MEA is anticipated to majorly contribute the market revenue in 2024 as compared to computer and related product and other segment under product segmentation.

The key players in electronic equipment repair service market include Encompass Supply Chain Solutions Inc., uBreakiFix, iCracked, Inc., Moduslink Global Solutions, Mendtronix Inc.,The Cableshoppe Inc., Redington services, Electronix Services, B2X CARE SOLUTIONS GMBH, and Quest International, Inc.

The global electronic equipment repair service market is segmented as below:

Market Segmentation

Electronic Equipment Repair Service Market, by Product

  • Consumer Electronics Repair
    • Smart Phones
    • Mobile Phones
    • Televisions
    • Set-top Boxes
  • Computer & Related Products Repair
    • Notebooks
    • Tablets
    • Desktop PCs
  • Others
    • Point-of-sale Systems
    • Medical Equipment
    • Industrial Equipment

Electronic Equipment Repair Service Market, by Geography

  • North America
    • The U.S.
    • Canada
    • Rest of North America
  • Europe
    • The U.K.
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • Japan
    • India
    • South Korea
    • Rest of APAC
  • Middle East and Africa (MEA)
    • GCC Countries
    • South Africa
    • Rest of MEA
  • South America
    • Brazil
    • Argentina
    • Rest of South America
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