How Is The Electronic and Precision Equipment Repair and Maintenance Market Segmented?
The electronic and precision equipment repair and maintenance market covered in this report is segmented –
1) By Type: Consumer Electronics Repair And Maintenance, Computer And Office Machine Repair And Maintenance, Communication Equipment Repair And Maintenance, Other Electronic And Precision Equipment Repair And Maintenance
2) By Mode: Online, Offline
3) By Service Type: Inspection, Maintenance, Repair
Subsegments:
1) By Consumer Electronics Repair And Maintenance: Television Repair, Audio Equipment Repair, Home Appliance Repair, Camera And Video Equipment Repair, Gaming Console Repair
2) By Computer And Office Machine Repair And Maintenance: Laptop And Desktop Repair, Printer And Copier Repair, Network Equipment Repair, Peripheral Device Repair (Scanners, Keyboards)
3) By Communication Equipment Repair And Maintenance: Mobile Phone Repair, Satellite Communication Equipment Repair, Wireless Communication Equipment Repair, Radio And Television Broadcasting Equipment Repair
4) By Other Electronic And Precision Equipment Repair And Maintenance: Medical Equipment Repair, Industrial Equipment Repair, Aerospace Equipment Repair, Scientific Instruments Repair
What Is Driving The Electronic and Precision Equipment Repair and Maintenance Market? Rising Sales Of Personal Computing Devices Fuel Growth In Electronic And Precision Equipment Repair And Maintenance Market
An increase in sales of personal computing devices (PCD’s) is expected to propel the growth of the electronic and precision equipment repair and maintenance market. Personal computing devices refer to consumer devices such as desktop computers, laptops, smartphones, and tablets. Due to the pandemic, there was an increase in the number of people working from home, leading to an increase in PCD sales. With more people using PCD’s there is an increase in the need for maintenance and repair for such devices. For instance, in July 2024, according to Adobe Inc., a US-based digital media and digital marketing solution company, consumers spent a record $14.2 billion during the two-day Prime Day event, marking an 11% year-over-year growth, with significant increases in sales of tablets (117%) and computers (80%). Therefore, the increase in the sale of personal computing devices is expected to drive the electronic and precision equipment repair and maintenance market going forward.
What Is Driving The Electronic and Precision Equipment Repair and Maintenance Market? Growing Semiconductor Industry Fuel Growth In Electronic And Precision Equipment Repair And Maintenance Market
The growing semiconductor industry is expected to propel the growth of the electronic and precision equipment repair and maintenance market going forward. Semiconductors are materials that have electrical conductivity between conductors and insulators and are often used in electronic devices. Semiconductors are vital components in electronic devices and precision equipment. Increased semiconductor production can lead to a higher demand for electronic devices. Electronic and precision equipment repair and maintenance services become crucial in ensuring the reliability and functionality of these devices. For instance, in February 2023, according to the Semiconductor Industry Association, a US-based trade association representing the US semiconductor industry, global semiconductor sector sales reached $574.1 billion in 2022. This marked the highest-ever annual total and represented a 3.3% increase over the $555.9 billion total in 2021. Therefore, the growing semiconductor industry is boosting the electronic and precision equipment repair and maintenance market.
Who Are The Major Players In The Global Electronic and Precision Equipment Repair and Maintenance Market?
Major companies operating in the electronic and precision equipment repair and maintenance market include Juniper Networks Inc., Emcor Group, Illinois Tool Works Inc., Tsubakimoto Chain Co, Apple Inc., Electronix Services, Encompass Supply Chain Solutions Inc., Global Electronic Services Inc., iCracked Inc., Mendtronix Inc., MicroFirst Gaming Inc., Quanzhou Journey Bags Co. Ltd., Quest International Inc., OTC Industrial Technologies, Precision Electronic Repair Services, ACS Industrial Services Inc., iFixIt, ABB Ltd., Agilent Technologies Inc., Ametek Inc., Anritsu Corporation, Avnet Inc., Belden Inc., Benchmark Electronics Inc., Tech Pros, Precision Electronics Ltd., Advanced Control Solutions Inc., Microtech Services Ltd., MTAR Technologies Ltd., Techtonic Innovations Ltd., RoboTech Services Ltd.
What Are The Key Trends Of The Global Electronic and Precision Equipment Repair and Maintenance Market? The Growing Role Of AI-Predictive Maintenance In Electronic Equipment Repair And Maintenance Services
Companies involved in the repair and maintenance of electronic equipment are using artificial intelligence (AI)-predictive analysis for increasing the quality of their services. This analysis with the use of IoT technology sensors enables the service providers to identify the critical part which can fail and understand the current status of the components. Companies including Neuron Soundware and KONUX use AI-predictive maintenance to identify anomalies and improve the detection and identification of potential breakdown causes.
What Are The Key Trends Of The Global Electronic and Precision Equipment Repair and Maintenance Market? Increasing Focus On Introducing Self-Service Repair To Gain A Competitive Edge
Major companies operating in the electronic and precision equipment repair and maintenance market are focused on developing innovative services such as self-service repair to gain a competitive edge in the market. The advantage of self-service repair is that it allows individuals to take control of fixing or maintaining their own belongings or systems without the need for professional assistance. For instance, in December 2022, Apple Inc., a US-based technology company, announced its self-service repair program in Europe. The program provides customers with access to over 200 genuine Apple parts and tools, along with detailed repair manuals, enabling them to independently repair iPhone 12, iPhone 13, and Mac notebooks with Apple silicon. This initiative supports sustainable practices by extending the lifecycle of devices and offers customers a secure and reliable option for repairs, enhancing convenience and reducing environmental impact.
Regional Outlook For The Global Electronic and Precision Equipment Repair and Maintenance Market
Western Europe was the largest region in the electronic and precision equipment repair and maintenance market in 2024. Asia-Pacific was the second-largest region in the electronic and precision equipment repair and maintenance market. The regions covered in the electronic and precision equipment repair and maintenance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the electronic and precision equipment repair and maintenance market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
What Defines the Electronic and Precision Equipment Repair and Maintenance Market?
The electronic and precision equipment repair and maintenance market consists of revenues earned by entities that provide repair and maintenance services such as electronic products and navigational services, measuring services, and electromedical and control instruments services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
How is Market Value Defined and Measured?
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
What is the Market Assessment and Strategic Outlook for the Electronic and Precision Equipment Repair and Maintenance Industry?
The electronic and precision equipment repair and maintenance market research report is one of a series of new reports from The Business Research Company that provides electronic and precision equipment repair and maintenance market statistics, including electronic and precision equipment repair and maintenance industry global market size, regional shares, competitors with an electronic and precision equipment repair and maintenance market share, detailed electronic and precision equipment repair and maintenance market segments, market trends and opportunities, and any further data you may need to thrive in the electronic and precision equipment repair and maintenance industry. This electronic and precision equipment repair and maintenance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
