Global Electronic Equipment Repair Service Market: Snapshot
The global electronic equipment repair service market is currently being driven by the large number of innovative electronics equipment reaching the commercial markets. This is propelling the demand for electronic equipment repair services from both companies and single point service individuals across the world. Furthermore, the global demand for refurbished electronics products is growing at a fast rate due to consumers from developing economies where price is a greater concern than other aspects. The wide scope of the global electronic equipment repair service market in refurbishing electronics is anticipated to push it further. Developing economies, especially the ones from Asia Pacific, are showing a phenomenal rate of growth in consumption of electronic devices. The global electronic equipment repair service market is, however, being restricted by the negative reaction of consumers to poor quality or repairs or the use of duplicate spare parts, along with an overall shift in consumer behavior towards buying new electronic equipment rather than repairing older ones.
The global electronic equipment repair service market is expected to reach US$147.24 bn by 2024. The market is anticipated to expand at a CAGR of 8.5% during the period from 2016 to 2024. By the end of 2016, this market’s revenue is expected to reach US$76.7 bn.
Europe Dominates in Global Demand for Electronic Equipment Repair Services
Geographically speaking, the global electronic equipment repair service market was led by Europe in 2015, when the region held a share of nearly 30% in the market’s revenue. The growing focus by government bodies through regulatory guidance for the promotion of better e-waste management processes has amplified the electronic equipment repairing and recycling activities here. Additionally, the growing adoption of electronic equipment in Europe is being accomplished through continuous innovation efforts and technological advancements in the electronics industry.
North America was second in terms of overall demand volume in the global electronic equipment repair service market for 2015. Consumer electronics repair held the leading share within the North American market among all applications. Asia Pacific, on the other hand, is projected to expand at a leading CAGR of 8.8% between 2016 and 2024 in the global electronic equipment repair service market, owing to a phenomenal rate of adoption of smart phones and tablets. China is likely to be leading contributor region’s electronic equipment repair service market over the forecast period. The Middle East and Africa (MEA) and South America are also expected to show a favorable growth rate in the global electronic equipment repair service market over the coming years.
Smartphone Repair Bags Top Place Among Consumer Electronics Devices Repair Services
Based on products, the global electronic equipment repair service market can be segmented into consumer electronics repair, computer and related products repair, and a collective minority of other repair types. Consumer electronics repair is further segregated into smartphones, mobile phones, televisions and set-top boxes. Smartphones are highly likely to observe an exceptionally strong growth rate within the global electronic equipment repair service market, primarily due to a growing adoption rate of smartphones in developing economies. Computers and related products electronic equipment repair service is further divided into notebooks, tablets and desktop PCs. Large-scale adoption rates attributed to technological development in electronics is likely to attract more users towards these devices, further increasing the scope of applying repair services to these segments.
For 2015, the global electronic equipment repair service market was led by players including uBreakiFix, Encompass Supply Chain Solutions Inc., Moduslink Global Solutions, iCracked, Inc., The Cableshoppe, Inc., Mendtronix Inc., Redington Services, B2X Care Solutions GmbH, Electronix Services, and Quest International, Inc.
Global Electronic Equipment Repair Service Market: Overview
The electronic equipment repair service providers offers repair services for equipment such as television, smart phones, mobile phones, set-top boxes, medical equipment, industrial equipment and others. The report covers all the major trends and technologies playing a major role in the growth of the electronic equipment repair service market over the forecast period. It also highlights various drivers, restraints, and opportunities expected to influence the market’s growth during this period. The study provides a holistic perspective of the growth of the electronic equipment repair service market throughout the forecast period in terms of revenue estimates (in US$ Bn), across North America, Europe, and Middle East & Africa (MEA), Asia Pacific (APAC), South America. The report also provides industry evolution and Porter’s Five Forces Analysis for the electronic equipment repair service market.
Global Electronic Equipment Repair Service Market: Key Drivers
The adoption of electronic equipment such as smart phones, mobile phones, television and others is growing rapidly among the end-users globally. As the adoption of the electronic equipment rises, the possibility of damage of the products is also anticipated to increase, which is consequently expected to fuel the growth of the electronic equipment repair service over the forecast period. In addition, the demand for refurbished electronic equipment in emerging nations is also a major driver which is impelling the growth of this market.
The penetration of smart phones and other equipment such as television, tablets and notebooks rising in emerging economies such as South America, Asia Pacific, and Middle East & Africa is expected to offer opportunities for electronic equipment repair service market over the forecast period. Apart from this, the increasing government regulations for e-waste management is also expected to create a huge potential for the electronic equipment repair service industry to grow over the forecast period. Henceforth, the demand for repair service providers is also increasing in order to recycle or reuse the defective products and help in maintaining sustainable environment.
Global Electronic Equipment Repair Service Market: Scope of the Study
Based on product, electronic equipment repair service market is categorized into consumer electronics repair, computer & related products repair and others. Consumer electronics repair market is further categorized into smart phones, mobile phones, televisions and set-top boxes. The computer & related products are segmented into notebooks, tablets and desktop PCs. Furthermore, the other segmentation includes point-of-sale systems, medical equipment and industrial equipment’s. The report also includes competitive profiling of the key players associated with the electronic equipment repair service market. The important business strategies adopted by the companies, their market positioning, and recent developments have also been identified in the research report. The competitive landscape section of the report also gives an overview about the major contributing regions/countries by these key players in order to strengthen their market position in the future.
Global Electronic Equipment Repair Service Market: Competitive Landscape
The key players in the electronic equipment repair service market include Encompass Supply Chain Solutions Inc., uBreakiFix, iCracked, Inc., Moduslink Global Solutions, Mendtronix Inc.,The Cableshoppe Inc., Redington services, Electronix Services, B2X CARE SOLUTIONS GMBH, and Quest International, Inc. Various details with regards to these companies has been included in the report that include company details, company overview which includes the overview of company’s business in electronics equipment repair, product portfolio, business strategy, SWOT analysis.
Competition matrix is also included in the competitive landscape section which includes the matrix for leading companies operating in the market. This matrix offers comparative analysis of leading market players based on parameters such as market position, offerings, R&D focus, top line growth, market share, segment growth, infrastructure facilities, and future outlook of the company. Further an overall position is defined for each company based on the aforementioned parameters which are broadly categorized into current capabilities and future growth potential.
Electronic Equipment Repair Service Market, by Product
- Consumer Electronics Repair
- Smart Phones
- Mobile Phones
- Set-top Boxes
- Computer & Related Products Repair
- Desktop PCs
- Point-of-sale Systems
- Medical Equipment
- Industrial Equipment
Electronic Equipment Repair Service Market, by Geography
- North America
- The U.S.
- Rest of North America
- The U.K.
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of APAC
- Middle East and Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
- South America
- Rest of South America