Electronic Equipment Repair Services Market to Reach US$228.2 Billion by 2032

Major players in the electronic equipment repair services market include Encompass Supply Chain Solutions Inc, uBreakiFix, iCracked Inc, Moduslink Global Solutions, and Mendtronix Inc.

NEWARK, Del., April 28, 2022 /PRNewswire/ — According to the Future Market Insights (IMF) market analysis report, the electronic equipment repair services market should reach a net worth of US$228.2 billion in 2032 grow from US$121.2 billion in 2022. It is estimated that he is witnessing an impressive 6.5% CAGR through these years.

With the improvement of economic conditions and the development of global power grid systems, there has been a significant increase in the volume of appliances and electronic devices. The quantity of repair of electronic devices services have also grown with it, making it an attractive business worldwide.

Industrial automation in various industries has also increased the demand for electronic equipment that is prone to frequent malfunctions and breakdowns. Industrial electronic equipment repair service is expected to further expand the market size with the introduction of the fourth industrial revolution or IR 4.0 over the forecast years.

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Portable smart devices with an internet connection have become an essential part of every modern individual. So much repair of electronic devices installations have sprung up in local markets. In this regard, the market for electronic equipment repair services is expected to experience tremendous growth with the institutionalization of these facilities.

The report also analyzes the market research obtained during the Covid-19 pandemic, which had a severe impact on the growth of the market system providing services to mounting of electronic devices. It has been observed that the growth rate has declined from 7.8% recorded in the years 2015 to 2021.

Leading companies profiled in the Electronic Equipment Repair Services Market are:

  • Encompass Supply Chain Solutions Inc
  • uBreakiFix
  • iCracked Inc
  • Moduslink global solutions
  • Mendtronix Inc.

“Lately, there has been an increase in the volume of refurbished electronic devices and gadgets on e-commerce platforms. The opening of these new business opportunities is expected to further drive the demand for the repair services market of electronic equipment in the coming days.”

With the growth of electronic manufacturing companies in Southeast Asian countries, the availability of cheap electronic devices has increased in local markets in all middle-income countries.

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This factor is expected to have negative impacts on the repair of electronic equipment warranty services according to the market analysis report.

Key points to remember

  • During the forecast period from 2022 to 2032, the Global electronic equipment repair services market share is expected to see absolute dollar growth of $107 billion and achieve a valuation of US$228.2 billion.
  • According to the market analysis report, consumer electronics is the most attractive segment for the electronic equipment repair services market which is expected to experience a growth rate of 7.1% over the forecast years.
  • Among the different geographical regions, Europe is the first market of repair electronic devices with an estimated value of approximately US$68.6 billionregistering a CAGR of 6.5% during the forecast period.
  • Asia Pacific emerging countries as new leaders in the home electronic equipment market due to the higher growth rate of Chinawhich is expected to reach a valuation of nearly $25.2 Bn by the end of the year 2032.
  • the U.S. electronic equipment repair services market was estimated at $13.9 billion in 2021 and is expected to grow at a CAGR of 6.5% over the forecast years.

Key segments

By product type:

  • Consumer electronics
  • IT related products
  • Others

By region:

  • North America
  • South America
  • Europe
  • the Asia Pacific
  • Middle East & Africa

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Competitive landscape

Major players in the electronic equipment repair services market include Encompass Supply Chain Solutions Inc, uBreakiFix, iCracked Inc, Moduslink Global Solutions, and Mendtronix Inc.

Electronic device manufacturers are enthusiastically supplying repair service warranty services for their customers these days. The adoption of such business models has made the U.S. electronic equipment repair services market very competitive.

Long-term agreements of industrial electronic equipment repair service companies with various established industries are the main strategy adopted by top companies.

Working with hospitals to provide health medical device repair services are also proving to be a remunerative option for some market players these days.

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About Future Market Insights (IMF)

Future Market Outlook (IMF) is a leading provider of business information and advisory services, serving clients in more than 150 countries. IMF is headquartered in dubai and has delivery centers in the UK, USA and India. Latest news from the IMFmarket research reports and industry analysis help businesses meet challenges and make critical decisions with confidence and clarity in the midst of fierce competition. Our custom and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of analysts led by FMI experts continuously monitor emerging trends and events across a wide range of industries to ensure our clients are prepared for the changing needs of their consumers.

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