Electronic equipment repairers repair all types of electronics, from small kitchen electrical device to heating ventilation and air conditioning (HVAC) control systems. These repair service contains repairing different types of electronic devices, namely communication equipment, computers, radar & sonar equipment, microscopes, stereos, video recorders and photocopy machines, precision equipment (medical equipment & scientific instruments) and other equipments.
According to study, “Global Electronic Equipment Repair Service Market Size study, by Type (Consumer Electronics, Home Appliances, Medical Equipment, Industrial Equipment), by Application (Commercial, Industrial, Residential) and Regional Forecasts 2018-2025” some of the major companies that are currently working in the global electronic equipment repair service market areB2X Care Solutions, Global Electronic Service, Encompass Supply Chain Solutions, Mendtronix, ICracked, The Cableshoppe, Moduslink Global Solutions, MicroFirst, Quest International, Repair World Direct, Redington Services, UBreakFix. These companies are focusing on attaining long-term growth with value-added services for customers.
Based on the product type, the global electronic equipment repair service market is segmented into consumer electronics, industrial equipment, home appliances and medical equipment. Consumer electronics includes smart phones & mobile phones, set-top-boxes, televisions, notebooks and tablets, laptops, PC sets. Industrial equipment includes laser equipment, pulse &signal generator, voltmeter, printers, frequency counters, cleaners, motors & generators and machinery. Home appliances include refrigerators, irons, microwaves, dish washers, air conditioners & coolers, mixers, washing machines and grinders & food processors. Medical equipment includes medical monitors, dental clinic equipment, lab equipment, sterilizers, ventilators, respiration pumps, and CT scanners. The consumer electronics segment is expanding at a higher rate owing to increase in equipment failure rates. Furthermore, the medical equipment segment is likely to maintain its market share over the calculated period as a result of high labor charges and high repairing costs as compared to other equipment. Based on services types, the market is alienated into out of warranty and in warranty. Out of warranty service provides advanced repairing solutions & maintenance services to customers. In addition, based on end-use industries, the market is alienated into residential and commercial or industrial.
The market of global electronic equipment repair service is primarily driven by rise in demand for smart phones & tablets, followed by rise in demand for renovated electronic equipment. Apart from benefits, the major restraining aspect includes poor eminence or duplicate spare parts of electronic equipment. Additionally, the shift in customer behavior towards buying new equipment is expected to hinder the market.
The electronic equipment repair service market is increasing at a fast pace due to introduction of a number of new or innovative electronic equipment & products in the market. Owing to adoption of electronic equipment increases, the chance of damage to products is also expected to increase, which is consequently anticipated to fuel this market over the forecast period. Furthermore, increasing government regulations for e-waste management is predictable to create significant potential for this market in the near future. In addition, demand for repair service providers is also escalating in order to reuse or recycle defective products & help in maintaining a sustainable environment.
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Ankur Gupta, Head Marketing & Communications