Global Electronic Equipment Repair Service Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Electronic Equipment Repair Service Market 2021 (Includes Business Impact of COVID-19)
Global Electronic Equipment Repair Service Market Report Insights, Current Trends, Market Growth, and 10-year Forecast produced by Trusted Business Insights. The global electronic equipment repair service market report has been segmented on the basis of product type, service type, application, and region.
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Electronic Equipment Repair Service: Overview


Electronic equipment repair service is a facility offered by electronic equipment manufacturers and dealers post-sale of equipment. This includes the procedure of resolving or restoring the actual functionalities of devices and equipment.


Driving & Restraining Factors


Electronic equipment includes a wide range of products that are used in various end-use industries such as healthcare, consumer electronics, etc. Over a certain period of time, functionalities of these devices may be impaired or disrupted, and require repair. Demand for electronic equipment repair services has been high ever since these have been developed and introduced in the market, and the trend is expected to continue well into the future. In addition, rapidly growing consumer electronics industry, coupled with increasing disposable income of consumers is supporting revenue growth of the target market. Electronic equipment manufacturers are offering various add-on services post-purchase such as insurance and warranty services. Increasing demand for electronic medical equipment such as ventilators, medical monitors, CT scanners, etc., in the healthcare industry, coupled with increasing prevalence of chronic diseases are some of the other major factors expected to propel growth of the global electronic equipment repair service market.

However, availability of counterfeit and low-quality spare parts in local markets could hamper growth of the global market to a certain extent.

Segment Analysis

By Product Type:

Among the product type segments, the electronics segment is expected to hold dominant position in the target market. Increasing adoption of various smart and advanced devices such as smartphones, tablets, etc., among tech-savvy consumers is projected to augment higher revenue growth of the consumer electronics segment as compared to the other product type segments.

By Service Type:

Among the service type segments, the out of warranty segment is expected to register substantial growth rate in the global market. This is because various companies offer extended repairing and maintenance services even if the device is out of warranty.

By Application:

Among the two application segments, the residential segment is expected to account for major revenue share in the target market.


Global Electronic Equipment Repair Service Market: Regional Analysis


The Asia Pacific market is expected to register a significant growth rate in the global electronic equipment repair service market, owing to presence of large number of electronics and electronic repair service companies in countries such as China and India. In addition, increasing demand for advanced electronic devices such as smartphones, laptops, and various household appliances such as refrigerators, smart TVs, etc. is another major factor augmenting demand for electronic equipment services. The demand for electronics is attributable to increasing disposable income along with rising standard of living, and growing urbanization. The North America market is expected to account for significant revenue share in the target market. This is due to well-established healthcare industry and growing demand for enhanced electronic devices. The Market in Europe is expected to register moderate growth rate in the target market, followed by the markets in Latin America and Middle East & Africa.

Global Electronic Equipment Repair Service Market Segmentation:

Segmentation by Product Type:

  
Consumer Electronics
  
Home Appliances
  
Medical Equipment
  
Industrial Equipment

Segmentation by Service Type:

  
In Warranty
  
Out of Warranty

Segmentation by Application:

  
Residential
  
Industrial or Commercial


Key Market Players included in the report:


  
America’s Appliance Repair
  
Appliance LLC
  
B2X Care Solutions GmbH
  
Domex Ltd.
  
Electronix Services
  
Encompass Supply Chain Solutions Inc.
  
Global Electronic Services Inc.
  
Glotech Repairs
  
iCracked Inc.
  
Lee Company
  
Lowes Companies Inc.
  
Mendtronix Inc.
  
MicroFirst Gaming Inc.
  
Moduslink Global Solutions
  
Quest International Inc
  
Redington Services
  
Repair World Direct
  
Robert Bosch GmbH
  
Sears Home Services
  
SoBellas Appliance LLC
  
The Cableshoppe Inc.
  
uBreakiFix