A recent report published by Infinium Global Research on electronic equipment repair service market provides an in-depth analysis of segments and sub-segments in the global as well as regional electronic equipment repair service market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional electronic equipment repair service market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global electronic equipment repair service market. According to the report, the global electronic equipment repair service market is projected to grow at a CAGR of 7.9% over the forecast period of 2019-2025.
The electronic equipment repair service Industry is one of those few industries that can benefit even from the weak economic state of that specific region. This industry even benefits from the weak financial position of an individual. Companies in the electronic equipment repair service industry are involved in maintenance and repairing of electronic devices such as mobile phones, computers, photocopying machines, refrigerators, video recording equipment, scientific instruments, medical devices, radar equipment, television sets, and stereos. The companies in electronic equipment repair service market target people owning high-end electronic systems and cannot afford to replace them but find it cost-effective to get them repaired. Industry operators repair and maintain numerous types of electrical equipment, including electric motors, generators, transformers, and electricity distribution and control apparatus.
The adoption of electronic equipment such as smartphones, mobile phones, television, etc. across the globe is the major growth factor of the electronic equipment repair service market. The consumer electronics segment of the electronic equipment repair service market is expanding at a higher rate owing to a rise in equipment failure rates and cost benefits of repairing old equipment instead of disposing of it. Furthermore, factors such as technological advancements in electronic equipment’s, and rise in demand for smartphones are also driving the market growth. Increase in demand for refurbished electronic equipment in developing regions is fueling the growth of the market. However, a shift in consumer behavior toward purchasing new products restraining the market growth. Moreover, increasing government regulations for e-waste management are expected to provide wide growth opportunities to the market players.
Geographically, Asia Pacific dominates the global electronic equipment repair service market due to an increase in urbanization and rise in population in this region. Increasing adoption of electronic equipment’s is driving the growth of the market in the Asia Pacific region. The Asia Pacific electronic equipment repair service market is anticipated to grow with the highest CAGR in the forecasted period due to the availability of advanced repair solutions and maintenance services to consumers.
The report on global electronic equipment repair service market covers segments such as product, service type, and end-use. On the basis of product, the sub-markets include consumer electronics repair, home appliances repair, medical equipment repair, and industrial equipment repair. On the basis of service type, the sub-markets include in warranty, and out of warranty. On the basis of end-use, the sub-markets include industrial or commercial, and residential.
The report provides profiles of the companies in the market such as Moduslink Global Solutions, Mendtronix Inc., The Cableshoppe Inc., Redington Services, Encompass Supply Chain Solutions Inc., uBreakiFix, iCracked, Inc., Electronix Services, B2X CARE SOLUTIONS GMBH, Quest International, Inc., MicroFirst Gaming Inc., and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of electronic equipment repair service market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.