Dublin, June 16, 2021 (GLOBE NEWSWIRE) -- The "Consumer Electronics Repair and Maintenance Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global consumer electronics repair and maintenance market as it emerges from the COVID-19 shut down.
The global consumer electronics repair and maintenance market is expected to grow from $15.11 billion in 2020 to $16.44 billion in 2021 at a compound annual growth rate (CAGR) of 8.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $22.17 billion in 2025 at a CAGR of 7.8%.
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Where is the largest and fastest growing market for the consumer electronics repair and maintenance ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Consumer Electronics Repair and Maintenanc market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider consumer electronics repair and maintenance market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The consumer electronics repair and maintenance market section of the report gives context. It compares the consumer electronics repair and maintenance market with other segments of the consumer electronics repair and maintenance market by size and growth, historic and forecast.
Major players in the consumer electronics repair and maintenance market are Encompass Supply Chain Solutions Inc, Electronix Services, iCracked Inc, Mendtronix Inc, Moduslink Global Solutions, MicroFirst Gaming Inc, Quest International, Inc, The Cableshoppe Inc, uBreakiFix, and B2X CARE SOLUTIONS GMBH.
The consumer electronics repair and maintenance market consists of sales of consumer electronics repair and maintenance services by entities (organizations, sole traders and partnerships) that are engaged in repairing and maintaining consumer electronics such as televisions, stereos, speakers, video recorders, CD and DVD players, radios, and cameras, without retailing new consumer electronics. Only goods and services traded between entities or sold to end consumers are included.
The COVID-19 pandemic has significantly impacted the consumer electronics repair and maintenance industry as governments across the globe have imposed lockdowns and put restrictions on non-essential services to prevent the spread of the virus. Repair and maintenance services hugely depend on labor and the availability of labor during this pandemic is a big challenge. The repair industry across countries such as US, the UK, Germany, Italy, the Middle East and India have also witnessed an increase in labor cost due to labor shortages in the lockdown. The repairing industry, in general, fixes around 25 million electronic appliances in a month, but due to lockdown and social distancing norms, the products are expected to pile up for repair. Besides, the supply chain disruptions in various countries have made it difficult to find spare components for mobile and other electronic appliances making consumers wait longer for availing services.
The consumer electronics repair and maintenance market covered in this report is segmented by type into consumer electronics; home appliances; medical equipment; industrial equipment. It is also segmented by service type into in-warranty; out of warranty and by end-user into industrial/commercial; residential.
An increase in equipment failure rates and cost benefits of repairing old equipment rather than disposing of them are expected to drive the consumer electronics repair and maintenance market. The branded and non-branded low-cost products regularly flood the market and need repair in some time as they are made with poor quality material or due to regular maintenance. However, research suggests that companies are now taking a different approach, which is building products that could be easily repaired for use as fixing an issue in a gadget is always a cost-effective solution than buying a new one, thereby enhancing the trust of the customer. Customers tend to buy and refer the products of the company that offers repair manual, spare parts and provide assistance and guidance on fixing the product. Apple has begun assembling the older iPhone in India. Companies like iFixit and Repair Cafe are bringing people together to work for repairing devices. The European Commission is all set to discuss eco-design regulation for smartphones from 2021, including access to spare parts and repair information.
Key Topics Covered:
1. Executive Summary
2. Consumer Electronics Repair and Maintenance Market Characteristics
3. Consumer Electronics Repair and Maintenance Market Trends and Strategies
4. Impact of COVID-19 on Consumer Electronics Repair and Maintenance
5. Consumer Electronics Repair and Maintenance Market Size and Growth
5.1. Global Consumer Electronics Repair and Maintenance Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on the Market
5.2. Global Consumer Electronics Repair and Maintenance Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Consumer Electronics Repair and Maintenance Market Segmentation
7. Consumer Electronics Repair and Maintenance Market Regional and Country Analysis
7.1. Global Consumer Electronics Repair and Maintenance Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Consumer Electronics Repair and Maintenance Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
8. Asia-Pacific Consumer Electronics Repair and Maintenance Market
9. China Consumer Electronics Repair and Maintenance Market
10. India Consumer Electronics Repair and Maintenance Market
11. Japan Consumer Electronics Repair and Maintenance Market
12. Australia Consumer Electronics Repair and Maintenance Market
13. Indonesia Consumer Electronics Repair and Maintenance Market
14. South Korea Consumer Electronics Repair and Maintenance Market
15. Western Europe Consumer Electronics Repair and Maintenance Market
16. UK Consumer Electronics Repair and Maintenance Market
17. Germany Consumer Electronics Repair and Maintenance Market
18. France Consumer Electronics Repair and Maintenance Market
19. Eastern Europe Consumer Electronics Repair and Maintenance Market
20. Russia Consumer Electronics Repair and Maintenance Market
21. North America Consumer Electronics Repair and Maintenance Market
22. USA Consumer Electronics Repair and Maintenance Market
23. South America Consumer Electronics Repair and Maintenance Market
24. Brazil Consumer Electronics Repair and Maintenance Market
25. Middle East Consumer Electronics Repair and Maintenance Market
26. Africa Consumer Electronics Repair and Maintenance Market
27. Consumer Electronics Repair and Maintenance Market Competitive Landscape and Company Profiles
27.1. Consumer Electronics Repair and Maintenance Market Competitive Landscape
27.2. Consumer Electronics Repair and Maintenance Market Company Profiles
27.2.1. Encompass Supply Chain Solutions Inc
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. Electronix Services
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. iCracked Inc
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. Mendtronix Inc
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. Moduslink Global Solutions
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance
29. Key Mergers and Acquisitions in the Consumer Electronics Repair and Maintenance Market
29. Consumer Electronics Repair and Maintenance Market Future Outlook and Potential Analysis
30. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/3mv5jj