Electronic Equipment Repair Service Global Market Report 2023: Rising Demand for Electronic Products is Significantly Contributing to Growth

Global Electronic Equipment Repair Service Market

Dublin, May 30, 2023 (GLOBE NEWSWIRE) -- The "Electronic Equipment Repair Service Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the market.The global electronic equipment repair service market is expected to grow from $104.86 billion in 2022 to $112.92 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The electronic equipment repair service market is expected to grow to $148.82 billion in 2027 at a CAGR of 7.1%.

Major players in the electronic equipment repair service market are B2X Care Solutions GmbH, Electronix Services, Encompass Supply Chain Solutions Inc., Global Electronic Services Inc., iCracked Inc., Mendtronix Inc., MicroFirst Gaming Inc., Quanzhou Journey Bags Co. Ltd., Quest International Inc., Redington Services, The Cableshoppe Inc., UBIF Franchising Co., OTC Industrial Technologies, Precision Electronic Repair Services, ACS Industrial Services Inc., and iFixIt.

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Electronic equipment repair service refers to the services provided by technicians for maintaining, testing, creating, and repairing electronic equipment. It can include tools, mechanical components, and computer systems. The main types of electronic equipment for which repair services are provided are consumer electronics, home appliances, industrial equipment, and medical equipment. Consumer electronics repair services refer to the act of diagnosing malfunctions and testing functionality in consumer electronics such as TVs and smartphones, then fixing the malfunctions. There are warranty and out-of-warranty types for some end-users, including commercial, industrial, and residential.The electronic equipment repair service market research report is one of a series of new reports that provides electronic equipment repair service market statistics, including electronic equipment repair service industry global market size, regional shares, competitors with an electronic equipment repair service market share, detailed electronic equipment repair service market segments, market trends and opportunities, and any further data you may need to thrive in the electronic equipment repair service industry. This electronic equipment repair service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Service innovation is the key trend gaining popularity in the electronic equipment repair service market. Major companies operating in the electronic equipment repair service market are focusing on coming up with new ways to deliver repair services to consumers to enhance their experience with the repair service.In November 2021, Clipper Logistics plc, a UK-based logistics company, acquired CE Repair Services Group B.V. for a deal value of $13.5 million. The acquisition boosts Clipper's existing electronic product repair capability in both the UK and mainland Europe. CE Repair Services Group B.V. is a Netherlands-based consumer electronics repair services company.Asia-Pacific was the largest region in the electronic equipment repair service market in 2022. The regions covered in the electronic equipment repair service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The countries covered in the electronic equipment repair service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.Rising demand for electronic products is significantly contributing to the growth of the electronic equipment repair service market going forward. Electronic products refers to any electronic equipment made to be purchased and utilized on a regular basis for non-commercial or professional uses by consumers. Electronic equipment repair services are used for the repair and maintenance of electronic products and consumer electronics.

Most electronic devices used by consumers use flexible electronics, so as consumer electronics become more popular, market demand rises as well.

For instance, according to published data by StockApps.com, a Kenya-based website that attempts to inform investors about the various stock apps available, in 2021, the global consumer electronics revenues were expected to grow 3.6% year-over-year and hit $1.06 trillion, up from $1.02 trillion in 2020. Therefore, rising demand for electronic products will drive the market for electronic equipment repair services.The electronic equipment repair service market includes revenues earned by providing smartphone repair, CNC machine repair and refrigerator repair services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Key Attributes:

Report Attribute

Details

No. of Pages

250

Forecast Period

2023 - 2027

Estimated Market Value (USD) in 2023

$112.92 billion

Forecasted Market Value (USD) by 2027

$148.82 billion

Compound Annual Growth Rate

7.1%

Regions Covered

Global

Key Topics Covered: 1. Executive Summary 2. Electronic Equipment Repair Service Market Characteristics 3. Electronic Equipment Repair Service Market Trends And Strategies 4. Electronic Equipment Repair Service Market - Macro Economic Scenario4.1. COVID-19 Impact On Electronic Equipment Repair Service Market4.2. Ukraine-Russia War Impact On Electronic Equipment Repair Service Market4.3. Impact Of High Inflation On Electronic Equipment Repair Service Market5. Electronic Equipment Repair Service Market Size And Growth5.1. Global Electronic Equipment Repair Service Historic Market, 2017-2022, $ Billion5.1.1. Drivers Of The Market5.1.2. Restraints On The Market5.2. Global Electronic Equipment Repair Service Forecast Market, 2022-2027F, 2032F, $ Billion5.2.1. Drivers Of The Market5.2.2. Restraints On the Market6. Electronic Equipment Repair Service Market Segmentation6.1. Global Electronic Equipment Repair Service Market, Segmentation By Types, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Consumer Electronics

Home Appliances

Industrial Equipment

Medical Equipment

6.2. Global Electronic Equipment Repair Service Market, Segmentation By Warranty Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

In Warranty

Out Of Warranty

6.3. Global Electronic Equipment Repair Service Market, Segmentation By End-Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Commercial And Industrial

Residential

7. Electronic Equipment Repair Service Market Regional And Country Analysis7.1. Global Electronic Equipment Repair Service Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion7.2. Global Electronic Equipment Repair Service Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/di0s6l

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Global Electronic Equipment Repair Service Market