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Electronic Equipment Repair Service Market: Soaring Growth from $119.95 Billion to $128.9 Billion with Major Trends and Key Players
Electronic Equipment Repair Service Market Size
What Is The Projected Market Size Of The Global Electronic Equipment Repair Service Market And Its Growth Rate?
• The market has grown strongly from $119.95 billion in 2024 to an anticipated $128.9 billion in 2025, showing a CAGR of 7.5%.
• This growth upswing is majorly due to consumer demand for extended lifespan, shift towards sustainability, rise in high-value devices, consumer awareness, and industry collaborations.
• The market is expected to further escalate to $176.42 billion in 2029 at a CAGR of 8.2%, backed by the rising complexity of electronics, extended product life cycles, and growing IoT and smart devices.
What Is Driving The Growth In The Electronic Equipment Repair Service Market?
Increasing demand for electronic products significantly contributes to the growth of the electronic equipment repair service market. The upsurge in sales of large and small appliances has created a market, allowing for an increase in the demand for electronic equipment repair services. For instance, AMDEA, a UK-based trade association, reported the sale of over 15 million large appliances and over 60 million small appliances in the UK in 2023, creating a market valued at nearly $15.59 billion annually.
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Who Are the Key Players Driving Electronic Equipment Repair Service Market Growth?
• 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 and more
What Are The Key Trends In The Electronic Equipment Repair Service Market?
• 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
What Are The Segments Of The Global Electronic Equipment Repair Service Market?
• By Types: Consumer Electronics, Home Appliances, Industrial Equipment, Medical Equipment
• By Warranty Type: In Warranty, Out Of Warranty
• By End-Users: Commercial And Industrial, Residential
Which Region Leads The Electronic Equipment Repair Service Market?
Asia-Pacific was the largest region in the electronic equipment repair service market in 2024. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Electronic Equipment Repair Service Market Global Market Report?
- Market Size Analysis: Analyze the Electronic Equipment Repair Service Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Electronic Equipment Repair Service Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Electronic Equipment Repair Service Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Electronic Equipment Repair Service Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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