PUBLISHER: The Business Research Company | PRODUCT CODE: 1712428
PUBLISHER: The Business Research Company | PRODUCT CODE: 1712428
Electronic equipment repair and maintenance encompass the activities focused on the restoration and upkeep of electronic systems, which includes electronic components and circuits. In contrast, precision equipment repair and maintenance pertain to the process of servicing precision equipment, ensuring its continued ability to provide highly accurate measurement results.
The primary categories within the domain of electronic and precision equipment repair and maintenance include consumer electronics repair and maintenance, computer and office machine repair and maintenance, communication equipment repair and maintenance, along with other repair and maintenance services related to electronic and precision equipment. Companies operating in the Communication Equipment Repair and Maintenance sector primarily specialize in the repair and upkeep of communication equipment, such as communication transmission devices, two-way radios, telephones, and fax machines. It is important to note that these companies exclusively engage in repair and maintenance activities, refraining from the sale of new communication equipment. The services provided can be delivered through online or offline channels and encompass various service types, including inspection, maintenance, and repair.
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.
The electronic and precision equipment repair and maintenance market size has grown strongly in recent years. It will grow from $141.43 billion in 2024 to $150.36 billion in 2025 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to industrial machinery and equipment, medical devices, electronics and consumer devices, aerospace and defense equipment.
The electronic and precision equipment repair and maintenance market size is expected to see strong growth in the next few years. It will grow to $185.79 billion in 2029 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to advanced technologies, healthcare equipment maintenance, smart manufacturing, consumer electronics. Major trends in the forecast period include advanced technologies integration, predictive and preventive maintenance, remote maintenance and monitoring, sustainability and circular economy.
The expected growth in the electronic and precision equipment repair and maintenance market can be attributed to the rising sales of personal computing devices (PCDs). Personal computing devices include consumer electronics such as desktop computers, laptops, smartphones, and tablets. The increase in remote work and the use of PCDs due to the pandemic led to a surge in PCD sales. As more individuals rely on PCDs, there is a growing demand for maintenance and repair services for these devices. For instance, in July 2024, according to Adobe Inc., a US-based digital media and digital marketing solutions company, consumers spent a record $14.2 billion during the two-day Prime Day event, reflecting an 11% year-over-year growth. This growth was particularly notable in the sales of tablets (up 117%) and computers (up 80%). As a result, the increase in the sale of personal computing devices is expected to drive the growth of the electronic and precision equipment repair and maintenance market moving forward.
The anticipated growth in the electronic and precision equipment repair and maintenance market can be attributed to the expanding semiconductor industry. Semiconductors are materials with electrical conductivity properties between conductors and insulators, and they play a critical role in electronic devices and precision equipment. As the semiconductor industry experiences growth, there is an increased demand for electronic devices, which, in turn, drives the need for maintenance and repair services for these devices. For example, in February 2023, the Semiconductor Industry Association reported that global semiconductor sector sales reached $574.1 billion in 2022, marking a record-high annual total and a 3.3% increase over the previous year's total of $555.9 billion. This underlines how the thriving semiconductor industry is contributing to the electronic and precision equipment repair and maintenance market.
Companies engaged in the repair and maintenance of electronic equipment are harnessing the power of artificial intelligence (AI) predictive analysis to enhance the quality of their services. This approach, coupled with the utilization of Internet of Things (IoT) technology sensors, empowers service providers to pinpoint critical components at risk of failure and assess the current condition of various parts. Leading firms like Neuron Soundware and KONUX leverage AI-predictive maintenance to detect anomalies, bolster the identification of potential causes of breakdowns, and ultimately optimize their repair and maintenance services.
Major companies in the electronic and precision equipment repair and maintenance market are focusing on developing innovative services, such as self-service repair, to gain a competitive edge. Self-service repair allows individuals to take control of fixing or maintaining their own devices or systems without requiring professional assistance. For example, in December 2022, Apple Inc., a US-based technology company, launched its self-service repair program in Europe. This program offers customers 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. The initiative supports sustainability by extending the lifecycle of devices, provides customers with a secure and reliable repair option, and enhances convenience, all while reducing environmental impact.
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.
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
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.
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.
Electronic and Precision Equipment Repair and Maintenance Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on electronic and precision equipment repair and maintenance market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for electronic and precision equipment repair and maintenance ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The electronic and precision equipment repair and maintenance market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.