The electronic equipment repair service market is forecasted to reach a net worth of US$ 228.2 Billion in 2032 growing up from US$ 121.2 Billion in 2022. It is estimated to witness an impressive CAGR of 6.5% through these years.
According to the market analysis report by Future Market Insights (FMI), the electronic equipment repair service market is forecasted to reach a net worth of US$ 228.2 Billion in 2032 growing up from US$ 121.2 Billion in 2022. It is estimated to witness an impressive CAGR of 6.5% through these years.
With the improving economic conditions and development of worldwide electricity network systems, there has been a significant increase in the volume of electronic devices and appliances. The amount of electronic device repair services has also surged along with it, making it an attractive business around the world.
Industrial automation in various sectors has also increased the demand for electronic equipment that is prone to frequent malfunctions and breakdowns. Industrial electronic equipment repair service is anticipated to augment the market size further along with the introduction of the fourth industrial revolution or IR 4.0 during the forecast years.
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Portable smart devices with an internet connection have become an essential part of any modern-day individual. So many electronic device repair facilities have emerged in local markets. In this regard, the market for electronic equipment repair services is expected to experience huge growth with the institutionalization of such facilities.
The report also analyses the market survey obtained during the Covid-19 pandemic, which had a severe impact on the growth of the market system providing services for fixing electronic devices. It has been observed that the growth rate dipped down from 7.8% recorded during the years 2015 to 2021.
Leading Companies Profiled in Electronic Equipment Repair Service Market are:
“In recent, there has been a rise in the volume of refurbished electronic devices and gadgets over the e-commerce platforms. Opening up of such new business opportunities is expected to further boost the demand for electronic equipment repair service market in the coming days.”
With the growth in electronic manufacturing companies in South East Asian countries, the availability of cheap electronic devices has increased in the local markets all across the Middle-income countries.
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This factor is anticipated to have some negative impacts on the electronic equipment repair warranty services as per the market analysis report.
Key Takeaways
Key Segments
By Product Type:
By Region:
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Competitive Landscape
Leading players in Electronic Equipment Repair Service Market are Encompass Supply Chain Solutions Inc, uBreakiFix, iCracked Inc, Moduslink Global Solutions, and Mendtronix Inc.
Electronic appliances manufacturing companies are enthusiastically providing repair service warranty services for their customers these days. The adoption of such business models has made the American electronic equipment repair service market highly competitive
About Future Market Insights, Inc. Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the
Jun 16, 2023
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