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The global electronic equipment repair service market is forecast to grow at a CAGR of 4.30%, in value terms, to reach USD128.07 billion by 2026

·6-min read

The global electronic equipment repair service market is witnessing consistent growth, owing to increasing dependence on electronic equipment, rising equipment failure rates and growing demand for refurbished electronic equipment.

New York, Nov. 16, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Electronic Equipment Repair Service Market, By Product Type, By Service Type, By End Use, By Region, Competition Forecast & Opportunities, 2026" - https://www.reportlinker.com/p06184439/?utm_source=GNW
Moreover, innovative offerings to target customers, rapid urbanization and technological advancements are fueling the growth of the global electronic equipment repair service market. Furthermore, factors such as availability of electronic equipment insurance, introduction of “right to repair” law and the entry of various players are further fueling the electronic equipment repair service market at the global level.

According to a report published by the World Health Organization (WHO) in collaboration with UN Environment Program (UNEP), it was found that in 2019 the amount of generated electronic waste reached a record of 53.6 million metric tons where the Asian region comes out with the largest contributor of e-waste with a volume of 24.9 million metric tons, followed by America with 13.1 million metric tons and Europe with 12 million metric tons. This is one of the major concerns across the globe. Thus, the government is taking major initiatives in order to find a solution for the e-waste issue worldwide. For instance, the governments have passed the" Right to Repair" laws in order to reduce e-waste by increasing the lifespan of electronic products and making them easy to get repaired.

The COVID-19 pandemic posed a challenge for the electronic equipment repair service industry.Electronic repair service businesses got impacted as customers were avoiding coming outside as they were no longer comfortable meeting a stranger and letting them touch their electronic equipment and allowing strangers at home.

During the pandemic, people were using electronic devices significantly more than usual.Due to complete lockdown and strict government restrictions, people preferred their electronic equipment even when partially broken.

Therefore, this resulted in decreased demand for electronic equipment repair services.

The global electronic equipment repair service market can be segregated based on product type, service type, end use, region and company.In terms of product type, the global electronic equipment repair service market is segmented into consumer electronics, home appliances, industrial equipment, medical equipment, and others.

Among these, consumer electronics segment has dominated the global electronic equipment repair service market with the majority of market share in 2020.Additionally, in-home repair service is constantly increasing as it saves a significant amount of commutation expense of electronic equipment from home to the service center.

However, there are various electronic equipment repair service companies across the globe and some of them are only providing in-home repair services. For instance, uBreakiFix, one of the largest consumer electronic repair companies in North America, also provides in-home repair services apart from their in-store repair services.

In terms of region, the global electronic equipment repair services market is segmented into Asia-Pacific, North America, Europe, South America, and Middle East & Africa. Among which, the Asia-Pacific region has dominated the global electronic equipment repair service market with a majority of market share around 33% in the year 2020 and will continue to dominate the market during the forecast period.

Quest International Inc., B2X Care Solutions GmbH, Redington (India) Limited, Asurion LLC (uBreakiFix), Transform SR Brands LLC. (Sears Home Services), Mendtronix Inc., Global Electronic Services, Inc., MicroFirst Gaming Inc., The CableShoppe Inc (CSI), ACS Industrial Services, Inc., etc. are some of the leading players operating in the global electronic equipment repair service market.

Years considered for this report:

Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026

Objective of the Study:

• To analyze the historical growth in the market size of the global electronics equipment repair services market from 2016 to 2020.
• To estimate and forecast the market size of global electronics equipment repair services market from 2021 to 2026 and growth rate until 2026.
• To classify and forecast global electronics equipment repair services market based on by product type, by service type, by end use, by region and by company.
• To identify the dominant region or segment in the global electronics equipment repair services market.
• To identify drivers and challenges for the global electronics equipment repair services market.
• To examine competitive developments such as expansions, new services launch, mergers & acquisitions, etc., in the global electronics equipment repair services market.
• To identify and analyze the profile of leading players operating in the global electronics equipment repair services market.
• To identify key sustainable strategies adopted by market players in the global electronics equipment repair services market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of service providers across the globe.

Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.

Through this technique, the analyst could include the service providers which could not be identified due to the limitations of secondary research. The analyst examined the service providers, product types, and presence of all major players across the globe.

The analyst calculated the market size of the global electronics equipment repair services market using a bottom-up approach, wherein data for the various segment was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated them by analyzing historical data of these electronics equipment repair services product types and end use segments for getting an appropriate, overall market size.

Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations, and financial reports were also studied by the analyst.

Key Target Audience:

• Service providers, and end-user
• Market research and consulting firms
• Government bodies such as regulating authorities and policymakers
• Organizations, forums, and alliances related to electronics equipment repair services

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, end-user, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, the global electronics equipment repair services market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Global Electronics Equipment Repair Services Market, By Product Type:
o Consumer Electronics
o Home Appliances
o Industrial Equipment
o Medical Equipment
o Others
• Global Electronics Equipment Repair Services Market, By Service Type:
o Out of Warranty
o In Warranty
• Global Electronics Equipment Repair Services Market, By End Use:
o Residential
o Commercial
• Global Electronics Equipment Repair Services Market, By Region:
o Asia Pacific
China
Japan
South Korea
India
Australia
o North America
USA
Canada
Mexico
o Europe
Germany
United Kingdom
France
Italy
Spain
o South America
Brazil
Argentina
Colombia
o Middle East and Africa
Saudi Arabia
South Africa
UAE
Egypt

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global electronics equipment repair services market.

Available Customizations:

With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06184439/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

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CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001


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