Global Electronic Equipment Repair Service Market Assessment and Key Insights Analyzed till 2024

Market Research Report Search Engine (MRRSE) recently announced the addition of a new research study to its comprehensive collection of research reports. The research report, titled “Electronic Equipment Repair Service Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2024” offers a detailed analysis of the market, providing insights into the market dynamics that are expected to influence the overall market positively in the next few years. Furthermore, the product segmentation, drivers, barriers, key geographical segments, and the competitive scenario of the Global Electronic Equipment Repair Service market have been elaborated upon in the research report.

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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.

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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.

Market Segmentation

Electronic Equipment Repair Service Market, by Product

Consumer Electronics Repair
Smart Phones
Mobile Phones
Televisions
Set-top Boxes
Computer & Related Products Repair
Notebooks
Tablets
Desktop PCs
Others
Point-of-sale Systems
Medical Equipment
Industrial Equipment
Electronic Equipment Repair Service Market, by Geography

North America
Europe
Asia Pacific (APAC)
Middle East and Africa (MEA)
South America

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This release was published on openPR.