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Trends and Forecasts From The Consumer Electronics Repair and Maintenance Market Report 2023 To 2032: Encompass Supply Chain Solutions Inc., Electronix Services, iCracked Inc., Mendtronix Inc
Consumer Electronics Repair and Maintenance Market
The Business Research Company's Consumer Electronics Repair and Maintenance Global Market Report 2023 the an increase in equipment failure rates and cost benefits of repairing old equipment as the major driver for the consumer electronics repair and maintenance market's growth in the forecast period. The branded and non-branded low-cost products regularly flood the market and need repair in some time as they are made with poor quality material or due to regular maintenance. However, research suggests that companies are now taking a different approach, which is building products that could be easily repaired for use as fixing an issue in a gadget is always a cost-effective solution than buying a new one, thereby enhancing the trust of the customer. Customers tend to buy and refer to the products of the company that offers repair manuals, and spare parts and provide assistance and guidance on fixing the product. Apple has begun assembling the older iPhone in India. Companies like iFixit and Repair Cafe are bringing people together to work on repairing devices.
The global consumer electronics repair and maintenance market size will grow from $8.43 billion in 2022 to $8.72 billion in 2023 at a compound annual growth rate (CAGR) of 3.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global consumer electronics repair and maintenance market size is expected to grow to $9.64 billion in 2027 at a CAGR of 2.5%.
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Major competitors in the consumer electronics repair and maintenance market are Encompass Supply Chain Solutions Inc., Electronix Services, iCracked Inc., Mendtronix Inc., Moduslink Global Solutions, MicroFirst Gaming Inc., Quest International, Inc., The Cableshoppe Inc.
A key trend in the consumer electronics repair and maintenance market includes focusing on leveraging augmented reality (AR) based maintenance and repair procedures. AR is an enhanced version of reality where direct and indirect view of physical world environments are combined with superimposed computer-generated images over a user's view of the real world. Use of these AR based repair or maintenance procedures allow users to enhance their field of view with real-time digital information. With this information the user can get the step by step instructions on how to repair an asset. For example, US based technology company Dell's new 2022 AR Assistant app uses augmented reality to guide users through step-by-step, at-home repairs or replacements to over 97 different systems in 7 languages. The AR Assistant app allows users to see their devices and guides users on repairing using mixed reality and informational overlays on the machine being repaired, leveraging a smartphone camera.
Read More On The Global Consumer Electronics Repair and Maintenance Market Report Here:
https://www.thebusinessresearchcompany.com/report/consumer-electronics-repair-and-maintenance-global-market-report
The Consumer Electronics Repair and Maintenance market is segmented -
• By Type: Loudspeakers and Sound Bars, Microphones, Amplifiers and Mixers, Music players and other devices, Televisions, Video Players, Video Cameras.
• By Service Type: In-warranty, Out of Warranty
• By End User: Industrial and commercial, Residential
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Western Europe was the largest region in the consumer electronics repair and maintenance market.
The Business Research Company's "Global Consumer Electronics Repair and Maintenance Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Consumer Electronics Repair and Maintenance Market Include:
1. Executive Summary
2. Consumer Electronics Repair and Maintenance Market Characteristics
3. Consumer Electronics Repair and Maintenance Market Trends And Strategies
4. Consumer Electronics Repair and Maintenance Market - Macro Economic Scenario
5. Consumer Electronics Repair and Maintenance Market Size And Growth
……………
27. Consumer Electronics Repair and Maintenance Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Consumer Electronics Repair and Maintenance Market
29. Consumer Electronics Repair and Maintenance Market Future Outlook And Potential Analysis
30. Appendix
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