Electronic Equipment Repair Service Market Anticipated to Grow at 8% CAGR Through 2029: Industry Report

 This study helps professionals make sense of complex market trends and competitive shifts affecting the electronic equipment repair service industry today.

What Is The Projected Market Size & Growth Rate Of The Electronic Equipment Repair Service Market?
The electronic equipment repair service market size has grown strongly in recent years. It will grow from $119.95 billion in 2024 to $128.01 billion in 2025 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to consumer demand for extended lifespan, shift towards sustainability, rise in high-value devices, consumer awareness and rights, industry collaboration.

The electronic equipment repair service market size is expected to see strong growth in the next few years. It will grow to $174.18 billion in 2029 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to rising complexity of electronics, extended product lifecycles, shift towards circular economy, growing IoT and smart devices, specialized component repair. Major trends in the forecast period include collaboration between manufacturers and repair service providers, regulations and 'right to repair' movements, advancements in IoT repair solutions, consumer preferences for sustainability, rise in complexity of electronics.

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What Is The Crucial Factor Driving The Global Electronic Equipment Repair Service Market?
Rising demand for electronic products is significantly contributing to the growth of the electronic equipment repair service market going forward. Electronic products refer to any electronic equipment made to be purchased and utilized regularly 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, in November 2023, according to AMDEA, a UK based trade association, more than 15 million large appliances and over 60 million small appliances were sold in the UK in 2023, resulting in a market valued at nearly $15.59 billion (£12 billion) annually. Therefore, rising demand for electronic products will drive the market for electronic equipment repair services.

Segment Covered In The Electronic Equipment Repair Service Market Report
The electronic equipment repair servicemarket covered in this report is segmented –

1) By Types: Consumer Electronics, Home Appliances, Industrial Equipment, Medical Equipment
2) By Warranty Type: In Warranty, Out Of Warranty
3) By End-Users: Commercial And Industrial, Residential

Subsegments:
1) By Consumer Electronics: Smartphones, Laptops and Computers, Audio And Video Equipment, Gaming Consoles
2) By Home Appliances: Refrigerators, Washing Machines, Microwave Ovens, Air Conditioners
3) By Industrial Equipment: Manufacturing Machinery, Automation Equipment, Power Tools, Heavy Machinery
4) By Medical Equipment: Imaging Devices, Diagnostic Equipment, Patient Monitoring Systems, Surgical Instruments

Key Trends Driving Growth In The Electronic Equipment Repair Service Market
Major companies operating in the electronic equipment repair service market are focused on providing self-service repair with unique features such as direct access to genuine parts to further provide customers with more options for secure repairs. Genuine parts refer to components or materials that are manufactured, produced, or authorized by the original equipment manufacturer (OEM) and meet the specifications and quality standards set by the OEM. For instance, in December 2022, Apple Inc., a US-based computer and consumer electronics company launched its Self-Service Repair program in eight European countries. The program allows customers to purchase genuine Apple parts and tools for DIY repairs on iPhone 12, iPhone 13, and Mac notebooks with Apple silicon. The Self-Service Repair Store offers over 200 individual parts and tools, along with repair manuals, giving experienced users access to the same resources used by Apple Store locations and authorized service providers.

Key Player In The Electronic Equipment Repair Service Market
Major companies operating in the electronic equipment repair service market include B2X Care Solutions GmbH, Electronix Services, Encompass Supply Chain Solutions Inc., Global Electronic Services Inc., Mendtronix Inc., Quest International Inc., Redington Services, The Cableshoppe Inc., UBIF Franchising Co., OTC Industrial Technologies, Precision Electronic Repair Services, ACS Industrial Services Inc., iFixIt, Samsung Authorized Service Centers, LG Authorized Service Centers, Apple Authorized Service Providers, Dell Authorized Service Centers, HP Authorized Service Centers, Lenovo Authorized Service Centers, Sony Authorized Service Centers, Toshiba Authorized Service Centers, Acer Authorized Service Centers, Alienware Authorized Service Centers, Asus Authorized Service Centers, Belkin Authorized Service Centers, BenQ Authorized Service Centers, Bose Authorized Service Centers

View the full electronic equipment repair service market report here:
Electronic Equipment Repair Service Market Size & Growth By 2034

Global Electronic Equipment Repair Service Market - Regional Insights:
Asia-Pacific was the largest region in the electronic equipment repair service market in 2024. The regions covered in the electronic equipment repair service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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