Global Consumer Electronics Repair and Maintenance Market Size Study, by Equipment Type, by End Users, by Service Type, and Regional Forecasts 2022-2032

Description

Global Consumer Electronics Repair and Maintenance Market is valued at approximately USD 16.42 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 3.6% over the forecast period 2024-2032. Consumer electronics repair and maintenance encompass the processes of repairing and replacing physical components of electronic tools, gadgets, appliances, and devices used by end users for both professional and non-professional purposes. Providers of refurbished electronic products also service televisions, stereos, speakers, video recorders, CD and DVD players, radios, and cameras. The consumer electronics repair and maintenance market is well-established in developed nations due to the highly organized service sector. With the digitalization of electronic equipment and the introduction of AI-driven smart features, there is an increasing demand for repair and maintenance services. The rise in digitalization and the proliferation of connected devices, driven by the Internet of Things (IoT), have resulted in a growing need for maintenance and repair of consumer electronics. This trend has led to the consumerization of information technology, where the lines between consumer electronics and IT are increasingly blurred. As consumer electronics become more technologically advanced, diverse, and affordable, the need for upkeep and repair grows, prompting market participants to expand their service locations, particularly in developing nations.

Predictive maintenance is a significant advancement in the consumer electronics repair and maintenance market. This approach involves estimating when to repair and maintain electrical equipment using logic, techniques, experience, and equipment lifespan. Predictive maintenance optimizes technicians' work in real-time, extends the equipment's life, and minimizes downtime. This method employs various inputs, including vital equipment sensors, ERP systems, computerized maintenance management systems, and smart factory management systems, to predict maintenance schedules. These strategies enable market participants to offer maintenance and repair contracts, contributing to market growth.

Despite the increasing need for maintenance services, the high cost of spare parts for electronic devices poses a challenge to market growth. Consumers often opt to purchase new products rather than repair their existing ones due to the high cost of replacement parts. For instance, the cost of a display screen for mobile phones or a laptop motherboard is significantly high, leading consumers to buy new devices instead of opting for repairs. This trend limits the market expansion. The market is driven by rapid growth in infrastructural development and various advancements in developing countries.

The key regions considered for the global Consumer Electronics Repair and Maintenance Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe is a dominating region in the Consumer Electronics Repair and Maintenance Market in terms of revenue. The market growth in the region is being attributed to factors including rising consumer spending on online or e-commerce platforms for consumer electronic items such as PCs, mobile phones, washing machines, and kitchen appliances. According to an AMR study, more than 280 million European consumers are expected to buy online and spend over $150 billion on consumer electronics in 2020. The market for consumer electronics repair and maintenance will grow as a result of increased consumer spending on consumer electronics devices and the necessity for repair and maintenance services to keep the products in working order. Additionally, the rising demand for reconditioned electronic items and their availability in the marketplace drive the market growth. For example, Refurbed, a European marketplace for used electronics, offers tasteful and updated refurbished gadgets. Other companies in the market for reconditioned gadgets include Back Market, Swappa, and Amazon Renew. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period fueled by rising disposable income, increasing penetration of smartphones and other electronic devices, growing environmental concerns and emphasis on e-waste management, and a surge in demand for refurbished electronics as a cost-effective option.

Major market players included in this report are:

iCracked Inc.
B2X Care Solutions GmbH
American Home Shield Corporation
Best Buy Co., Inc.
UrbanClap Technologies Private Limited
Asurion, LLC
Encompass Supply Chain Solutions, Inc.
Electronix Services
Ensure Services
CNS Brasil Informatica LTDA

The detailed segments and sub-segment of the market are explained below:

By Equipment Type:

Mobiles
PC
Washing Machine
Refrigerator
Others

By End Users:

Residential
Commercial

By Service Type:

In-warranty
Out of Warranty

By Region:

North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
Latin America
- Brazil
- Mexico
- RoLA
Middle East & Africa
- Saudi Arabia
- South Africa
- RoMEA

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Consumer Electronics Repair and Maintenance Market Executive Summary

1.1. Global Consumer Electronics Repair and Maintenance Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Equipment Type
- 1.3.2. By End Users
- 1.3.3. By Service Type
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Consumer Electronics Repair and Maintenance Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Consumer Electronics Repair and Maintenance Market Dynamics

3.1. Market Drivers
- 3.1.1. Digitalization and Consumerization of Information Technology
- 3.1.2. Rising Consumer Spending on Electronics
- 3.1.3. Growth in Predictive Maintenance
3.2. Market Challenges
- 3.2.1. High Cost of Spare Parts
- 3.2.2. Technological and Operational Challenges
3.3. Market Opportunities
- 3.3.1. Expansion in Developing Countries
- 3.3.2. Increase in Refurbished Electronics Market
- 3.3.3. Innovations in Predictive Maintenance Technology

Chapter 4. Global Consumer Electronics Repair and Maintenance Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Consumer Electronics Repair and Maintenance Market Size & Forecasts by Equipment Type 2022-2032

5.1. Segment Dashboard
5.2. Global Consumer Electronics Repair and Maintenance Market: Equipment Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Mobiles
- 5.2.2. PC
- 5.2.3. Washing Machine
- 5.2.4. Refrigerator
- 5.2.5. Others

Chapter 6. Global Consumer Electronics Repair and Maintenance Market Size & Forecasts by End Users 2022-2032

6.1. Segment Dashboard
6.2. Global Consumer Electronics Repair and Maintenance Market: End Users Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Residential
- 6.2.2. Commercial

Chapter 7. Global Consumer Electronics Repair and Maintenance Market Size & Forecasts by Service Type 2022-2032

7.1. Segment Dashboard
7.2. Global Consumer Electronics Repair and Maintenance Market: Service Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. In-warranty
- 7.2.2. Out of Warranty

Chapter 8. Global Consumer Electronics Repair and Maintenance Market Size & Forecasts by Region 2022-2032

8.1. North America Consumer Electronics Repair and Maintenance Market
- 8.1.1. U.S. Consumer Electronics Repair and Maintenance Market
  - 8.1.1.1. Equipment Type breakdown size & forecasts, 2022-2032
  - 8.1.1.2. End-Use breakdown size & forecasts, 2022-2032
  - 8.1.1.3. Service Type breakdown size & forecasts, 2022-2032
- 8.1.2. Canada Consumer Electronics Repair and Maintenance Market
8.2. Europe Consumer Electronics Repair and Maintenance Market
- 8.2.1. UK Consumer Electronics Repair and Maintenance Market
- 8.2.2. Germany Consumer Electronics Repair and Maintenance Market
- 8.2.3. France Consumer Electronics Repair and Maintenance Market
- 8.2.4. Spain Consumer Electronics Repair and Maintenance Market
- 8.2.5. Italy Consumer Electronics Repair and Maintenance Market
- 8.2.6. Rest of Europe Consumer Electronics Repair and Maintenance Market
8.3. Asia-Pacific Consumer Electronics Repair and Maintenance Market
- 8.3.1. China Consumer Electronics Repair and Maintenance Market
- 8.3.2. India Consumer Electronics Repair and Maintenance Market
- 8.3.3. Japan Consumer Electronics Repair and Maintenance Market
- 8.3.4. Australia Consumer Electronics Repair and Maintenance Market
- 8.3.5. South Korea Consumer Electronics Repair and Maintenance Market
- 8.3.6. Rest of Asia Pacific Consumer Electronics Repair and Maintenance Market
8.4. Latin America Consumer Electronics Repair and Maintenance Market
- 8.4.1. Brazil Consumer Electronics Repair and Maintenance Market
- 8.4.2. Mexico Consumer Electronics Repair and Maintenance Market
- 8.4.3. Rest of Latin America Consumer Electronics Repair and Maintenance Market
8.5. Middle East & Africa Consumer Electronics Repair and Maintenance Market
- 8.5.1. Saudi Arabia Consumer Electronics Repair and Maintenance Market
- 8.5.2. South Africa Consumer Electronics Repair and Maintenance Market
- 8.5.3. Rest of Middle East & Africa Consumer Electronics Repair and Maintenance Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. iCracked Inc.
  - 9.3.1.1. Key Information
  - 9.3.1.2. Overview
  - 9.3.1.3. Financial (Subject to Data Availability)
  - 9.3.1.4. Product Summary
  - 9.3.1.5. Market Strategies
- 9.3.2. B2X Care Solutions GmbH
- 9.3.3. American Home Shield Corporation
- 9.3.4. Best Buy Co., Inc.
- 9.3.5. UrbanClap Technologies Private Limited
- 9.3.6. Asurion, LLC
- 9.3.7. Encompass Supply Chain Solutions, Inc.
- 9.3.8. Electronix Services
- 9.3.9. Ensure Services
- 9.3.10. CNS Brasil Informatica LTDA

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes