The electronic equipment repair service providers offer repair services for equipment such as televisions, smart phones, mobile phones, set-top boxes, medical equipment, industrial equipment and others. Presently, the electronic equipment repair service market is growing at a higher rate due to the increasing instances of equipment failure and cost benefits of repairing old equipment instead of disposing them off. Service providers offer wide range of services including insurance and warranty for the equipment to provide a better level of service to their customers. The electronic equipment repair service market is expected to witness substantial revenue realization from the year 2017 onwards a grow at a gentler rate till 2020 owing to exploring repair service solutions to better meet requirement of their customers and subsequent reluctance from the various end-users for its adoption or implementation. However, towards the latter half of the forecast period (2021-2024), the growth of the market is expected to increase and is propelled by a wide adoption of smart phones among end-users. Thus, the electronic equipment repair service market is expected to witness an increase in the growth trend during the period of assessment.
Rise in the adoption of electronic equipment boosting the market growth of electronic equipment repair services
The adoption of electronic equipment is increasing amongst consumers. Consumers are buying electronic equipment like smart phones, televisions, tablets and notebooks on a large scale. The growing adoption of electronic equipment is anticipated to fuel the growth of electronic equipment repair service market during the forecast period. This is primarily due to the increasing number of consumers across the world and rapid technological advancements in electronic equipment technology. For instance, according to the Groupe Sepciale Mobile Association (GSMA) Mobile Economy Report 2016, the penetration rate of smart phones is expected to rise from 63% in 2015 to 72% in 2020. Moreover, the adoption of smart phones is accelerating across the emerging regions and about 90 percent of the total smart phone subscribers are from the emerging economies. India is expected to add approximately half a billion new subscribers over the next five years. These factors are expected to have a high impact in the short, medium and long term in the global electronic equipment repair service market. As the adoption of electronic devices rises, the possibility of damage to the products is also expected to increase, which will help in the development of the electronic equipment repair service industry.
Special emphasis being laid on e-waste management is set to have a positive impact on the global electronic equipment repair service market
Governments all over the world are taking several initiatives for e-waste management. E-waste comprises of discarded electronic devices such as televisions, computers and others. Once an electronic devices is no longer in use, instead of discarding it, it can be reused for its commodity value. This creates new possibilities for the electronic equipment repair service market and the market is on a growth trajectory during the period of assessment. In order to support the recycling of electronic waste, many consumer electronics manufacturing companies are currently working on an easy, suitable and safe program for the reprocessing of e-waste. Various type of corporate companies and individuals are registering for such e-waste collection programs and discarding their e-waste in a safe manner. This factor will provide a distinct advantage to electronic equipment repair service providers to deliver extended services to businesses.
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: 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.
Forecast Methodology – Electronic Equipment Repair Service Market
Evaluation of share of electronic equipment repair service providers is done based on product using secondary research and data validation through primary interactions. Evaluation of average cost for each product type for every region is carried out through desk research and data validation through primary interactions. Application area survey is conducted to understand the demand trends. Estimation of the penetration of electronic equipment repair services in various application areas across regions is also carried out.
Global Electronic Equipment Repair Service Market: Competitive Landscape
Various details with regards to the companies operating in global electronic equipment repair service market have 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
- Asia Pacific (APAC)
- Middle East and Africa (MEA)
- South America