Between 2022 and 2033, the global electronic equipment repair service market size is forecast to increase. Indeed, in 2022, the size of this market amounted to roughly 121.65 billion U.S. dollars and, by 2033, it is forecast to reach a value of 238.5 billion U.S. dollars, growing at a CAGR of 6.3 percent.

Global consumer electronics repair and maintenance market size is expected to reach $9.88 Bn by 2028 at a rate of 2.5%, segmented as by type, loudspeakers and sound bars, microphones, amplifiers and mixers, music players and other devices

In 2019, Production Value of Consumer Electronics Repair in Germany jumped by 6.2% from a year earlier.

Electronic and computer repair services include repairing and maintaining consumer electronic equipment, computers, office machines, communications equipment and other electronic equipment. Industry performance generally runs countercyclical to poor economic conditions, as many consumers substitute purchases with repairs during periods of economic uncertainty. Revenue has declined over the five years to 2024 as low unemployment and high per capita income over the majority of the period supported the purchase of new devices versus repairs. Despite the onset of the pandemic and the ensuing economic fallout, business closures and stay-at-home orders deepened demand declines in 2020. Consumers and businesses were slated to purchase replacements in the long-term, and price hikes in appliances and long lead times for installation amid ongoing supply chain disruptions contributed to increased demand for repairs in 2022. Overall, industry revenue is expected to decline at a CAGR of 2.0% to $21.3 billion over the five years to 2024, including a smaller decline of 1.3% in 2024 alone.

The industry includes companies that focus on the repair of cosumer electronics owned by individuals. Items repaired include TVs, radio receivers, video cassette recorders (VCR), CD players and household video cameras.

United States - Total Revenue for Consumer Electronics Repair and Maintenance, Establishments Subject to Federal Income Tax, Employer Firms was 1695.00000 Mil. of $ in January of 2022, according to the United States Federal Reserve. Historically, United States - Total Revenue for Consumer Electronics Repair and Maintenance, Establishments Subject to Federal Income Tax, Employer Firms reached a record high of 2087.00000 in January of 2009 and a record low of 1414.00000 in January of 1999. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Total Revenue for Consumer Electronics Repair and Maintenance, Establishments Subject to Federal Income Tax, Employer Firms - last updated from the United States Federal Reserve on November of 2024.

This forecast statistic shows the revenue of consumer electronics repair and maintenance in the United States from 2008 to 2012, with forecasts up until 2020. By 2015, revenues of consumer electronics repair and maintenance in the United States are projected to reach approximately 1.64 billion U.S. dollars.

The industry includes companies that focus on the repair of cosumer electronics owned by individuals. Items repaired include TVs, radio receivers, video cassette recorders (VCR), CD players and household video cameras.

According to Cognitive Market Research, the Global electronic equipment repair market Size will be USD XX Billion in 2023 and is set to achieve a market size of USD XX Billion by the end of 2031 growing at a CAGR of XX% from 2024 to 2031. Market Dynamic: Electronic Equipment Repair Service

Key Drivers-

The rise in the use of automated systems drives the market of electronic equipment repair services market-

Due to changing lifestyles and an increase in disposable income demand for electronic devices such as cell phones, TVs, air conditioners, and laptop computers has increased. The growth in the usage of automated electronic equipment in various industries is anticipated to boost the demand for electronic equipment repair services in the industrial electronic repair sector. Consumers are increasingly reliant on these devices for both personal and professional purposes, making the quick and efficient repair of such gadgets crucial. For instance- Samsung launched a Self-Repair Program in Brazil and Mexico, This initiative aims to empower consumers who want to keep their devices longer, offering another repair option. (source:https://www.samsungmobilepress.com/press-releases/samsung-self-repair-program-officially-launched-in-brazil-and-mexico/) Hence, the market for electronic equipment repair services is growing with the rise in demand for automated systems.

Growing environmental awareness and government support driving the market-

Consumers are becoming more conscious of the environmental effects of electronic waste and the significance of repairing and reusing equipment rather than discarding them. This opens up a market for repair services that provide ecologically responsible solutions. Repairing electronic devices not only reduces the environmental footprints associated with manufacturing new products but also extends the lifespan of existing devices. Awareness about e-waste and its harmful effects in promoted the government to make efforts and focus on “right to repair law”. For instance- Gov. Polis Signs a Bill Mandating That Consumers Have More Options To Fix Electronics. (source:https://coloradotimesrecorder.com/2024/05/gov-polis-signs-bill-mandating-that-consumers-have-more-options-to-fix-electronics/62156/) For instance- New EU rules encourage consumers to repair devices over replacing them. According to a European Commission study, 77% of EU citizens would prefer repair to buy new goods. (source:https://www.europarl.europa.eu/news/en/press-room/20231117IPR12211/new-eu-rules-encouraging-consumers-to-repair-devices-over-replacing-them) Hence, the government is concerned about environmental hazards and e-waste that helps to drive the market of global electronic equipment repair services.

Restraint-

Poor quality or duplicate spare parts of electronic equipment is a major issue in electronic equipment repair service market-

The use of low-quality or duplicate spare parts in electronic equipment repairs poses a significant threat to the electronic equipment repair sector. Although these components are less expensive than genuine ones, they frequently fail to satisfy the same quality and performance criteria. Poor quality parts may fail early, requiring extra repairs or possibly gadget failure. Many companies are launching their campaign to promote original spare parts. For instance- Apple to expand repair options with support for used genuine parts genuine Apple parts will now benefit from the full functionality and security afforded by the original factory calibration, just like new genuine Apple parts. (source:https://www.apple.com/newsroom/2024/04/apple-to-expand-repair-options-with-support-for-used-genuine-parts/) For instance- Fake spare parts were supplied to fix top-selling jet engine. European aviation regulators have determined that an obscure London-based company supplied fake parts for repairs of jet engines that power many older-generation Airbus A320 and Boeing 737 planes. (source:https://www.japantimes.co.jp/business/2023/09/01/companies/fake-parts-boeing-airbus/) Hence, Buying duplicate spare parts is a false economy, as using them may cost you more in the long run. But, more significantly, fake spare parts can result in significant safety issues that can lead to accidents. Also, duplicate auto spare parts impact the brand, and automobile industry.

Opportunities-

Rising demand for E-Waste management solutio...

Graph and download economic data for Total Revenue for Commercial and Industrial Machinery and Equipment Excluding Automotive and Electronic Repair and Maintenance, All Establishments, Employer Firms (REVEF8113ALLEST) from 1998 to 2022 about repair, maintenance, employer firms, accounting, revenue, electronics, machinery, establishments, vehicles, equipment, commercial, services, industry, and USA.

Graph and download economic data for Total Expense for Consumer Electronics Repair and Maintenance, All Establishments, Employer Firms (DISCONTINUED) (EXPEF811211ALLEST) from 2004 to 2012 about repair, maintenance, employer firms, accounting, electronics, establishments, expenditures, consumer, services, and USA.

The global electronic equipment repair service market size was valued at USD 120.26 Billion in 2022 and is expected to surpass USD 219.24 Billion by 2031, expanding at a CAGR of 6.9% during the forecast period, 2023–2031.



The global market growth is attributed to the rising demand for consumer electronic devices, the massive availability of old electronic equipment, and increasing equipment failure rates of electronic items in long-term use.

Electronic equipment repair service refers to a process of conducting official testing and troubleshooting of electronic devices by service providers in case of malfunctioning, equipment failures, and inaccuracy in the operation of such devices.



In general, the majority of the electronic equipment manufacturing companies have their own repair service center and offer usually 1-5 years warranty period for free-repair service for different types of products. Upon the expiry of the warranty, users have to pay for repair services for their devices.



The market is largely driven by the rising equipment failure rates of those out-of-warranty devices. Electronic repair service is widely applicable for equipment testing across different types of product categories such as consumer electronics, home appliances, medical equipment, and industrial equipment.



The rising dependence on electronic gadgets and industrial equipment for personal assistance and professional applications presents a key reason for the massive sales volume of consumer electronics such as mobile phones, computers, TV sets, communication equipment, and other electronic appliances. As the global consumption of electronic items increases, the rate of malfunctioning of these devices is also increasing, which is projected to spur the overall market expansion.



The rapid expansion of the electronic equipment repair service market is further influenced by the growing demand for reconditioned/refurbished consumer electronic items and the increasing governments’ concerns regarding electronic waste. As per the report by Statista, the volume of global electronic waste reached more than 53 million metric tons in 2019 and Asia was responsible for nearly half of the total waste worldwide.



Although the current rate of e-waste recycling is relatively low, the rising market value for using recycled electronic materials in the manufacturing of consumer electronic devices is expected to pr

Forecast: Production Value of Consumer Electronics Repair in Norway 2024 - 2028 Discover more data with ReportLinker!

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Global Online Electronic Repair Service Market Breakdown by Application (Consumer Electronics, Telecommunications, IT, Entertainment and Media, Others) by Type (Smartphone Repair, Tablet Repair, Laptop/Computer Repair, Gaming Console Repair, Television Repair, Others) and by Geography (North America, South America, Europe, Asia Pacific, MEA)

This statistic shows the revenue of the industry “electronic and precision equipment repair and maintenance“ in the U.S. from 2012 to 9999, with a forecast to 2024. It is projected that the revenue of electronic and precision equipment repair and maintenance in the U.S. will amount to approximately 13,9 billion U.S. Dollars by 2024.

Forecast: Turnover of Consumer Electronics Repair in Italy 2022 - 2026 Discover more data with ReportLinker!

United States - Total Revenue for Consumer Electronics Repair and Maintenance, All Establishments, Employer Firms was 1695.00000 Mil. of $ in January of 2022, according to the United States Federal Reserve. Historically, United States - Total Revenue for Consumer Electronics Repair and Maintenance, All Establishments, Employer Firms reached a record high of 2087.00000 in January of 2009 and a record low of 1414.00000 in January of 1999. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Total Revenue for Consumer Electronics Repair and Maintenance, All Establishments, Employer Firms - last updated from the United States Federal Reserve on November of 2024.

The industry is dedicated to the repair and maintenance of consumer electronics equipment such as televisions, radios and game consoles, as well as various reception equipment for TV sets. The industry does not include the repair of smartphones, household appliances and computer equipment.