Global Electronic Equipment Repair Service Market Size, Share, Trend & Forecast

1. 2016 – 2026 GLOBAL ELECTRONIC EQUIPMENT REPAIR SERVICE MARKET FORECAST AND OPPORTUNITIES Published: September 2021 www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING

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17. Service Overview

18. Scope of Report Service of Interest (SOI): Electronic Equipment Repair Electronic equipment repairservice companies specialize in repairing gadgets or appliances that are used mostly at homes or offices. These include the most common devices used for entertainment; in the kitchen and also the computers and laptops used for work. The report scope includes the repair service market size of following equipment: • Consumer electronics include smartphones, laptops, tablets, televisions, DVD & CD players, speakers, headphones, home theatres, video games consoles, digital cameras etc. • Home appliances include air conditioners, refrigerators, freezers, washing machines, air purifiers, dish washers, cloth dryers and electronic kitchen appliances such as microwaves, chimneys, food processors, etc. • Industrial equipment includes power saws, drills, hand tools, metal-working machines, embroidery machines, servo motors, hydraulics and pneumatics systems, etc. • Medical equipment includes operating room monitors, defibrillators, anesthesia and all other electronic machines. • Others include computer hardware such as Office systems, UPS, Servers, CPUs, monitors and so on, as well as telecommunication equipment such as electronic landline phones, radios, etc. GLOBAL ELECTRONIC EQUIPMENT REPAIR SERVICE MARKET Market Segmentation BY END USE BY PRODUCT TYPE • Commercial • Residential Review Period 2016 – 2019 Base Year 2020 Estimated Year 2021 Forecast Period 2022 – 2026 • Consumer Electronics • Home Appliances • Industrial Equipment • Medical Equipment • Others Year Range BY SERVICE TYPE BY REGION • Warranty • Out of Warranty • Asia-Pacific • Europe • North America • South America • Middle East & Africa

19. Research Methodology

20. Research Methodology Data Collection Data Validation Market Profiling Data Analysis Developing list of Respondents Formulating Questionnaire In-depth secondary research was conducted to determine top players in the global electronic equipment repair service market, overall market size and segmental market size. The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about the global electronic equipment repair service market. Data obtained as a result of primary and secondary research was validated through rigorous triangulation. TechSci conducted interviews with industry experts and industry players for data collection and verification. In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide. List of industry players and industry specialists was developed. Actionable Insights Data Filter & Analysis Business Solution Research & Intelligence Data Collection Primary Research Desk Research Company Analysis • Recent Developments • Market Changing Aspects/Dynamics • Government Policies • Final Conclusion • Market Participants • Key Strengths • Identifying Key Opinion Leaders • Questionnaire Design • In-depth Interviews Primary Research Secondary Research Paid Sources • LinkedIn • TechSci Internal Database • Company Websites • Company Annual Reports • White Paper Study • Financial Reports • Investor Presentations • Regulatory Body • Associations, etc. • Factiva • Hoovers

21. Research Methodology Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of the global electronic equipment repair service market. The team has analyzed the outlook of various segments of the market, while considering the major influencing factors such as electronic equipment repair service, increasing innovation in existing offerings, rapid urbanization and technological advancements. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in the global electronic equipment repair service market. Methodology Followed for Calculation of Market Size: • Market Size by Value: Market size, in terms of value, for the year 2020 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as electronic equipment repair service companies, channel partners, market influencers & end users, industry experts, and other industry participants. • The team interviewed more than 15 electronic equipment repair service companies, 50 channel partners, 300 end users and 15 industry experts and other value chain stakeholders in the global electronic equipment repair service market to obtain and validate the overall market size between 2016 and 2020. Taking standard deviation into consideration, the response was averaged out to arrive at the market size data during the review period.

22. Research Methodology • Respondents were asked about the current and future market growth rates, market shares by product and service type, by end use, by region and by company. Removing the outlier responses, the geometric mean of growth estimates and supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated based on the response received from other stakeholders depending upon the type of electronic equipment repair service. Methodology Followed for Forecasting: • Market shares by product type, by service type, by end-use, by region and by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market share projections and revenues forecast from various product types of electronic equipment repair services segments. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. • TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/Tableau Software. • Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast the global electronic equipment repair servicemarket, TechSci Research used various forecast techniques such as: Moving Average Time Series Analysis Regression Analysis Econometric and Judgmental Analysis Note:(a) Sum of some shares may not be 100% due to round off till two decimal places.

23. Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long-term period to estimate and analyze the market demand scenario. It should be noted that the figures compiled are for both organized and unorganized market including market share data. The currency used in the report is the United States Dollar (USD), with the market size indicated in USD Billion.

24. Industry Brief According to TechSci Research report, “Global Electronic Equipment Repair Service Market By Product Type (Consumer Electronics, Home Appliances, Industrial Equipment, Medical Equipment and Others), By Service Type (In Warranty v/s Out of Warranty), By End Use (Commercial v/s Residential), By Region, Competition, Forecast & Opportunities, 2026”, the global electronic equipment market is expected to register a CAGR of over 4.30% during 2021-2026F and is expected to reach around USD128.07 billion by 2026, in value terms. Global electronic equipment repair service market grew at a significant pace in the past few years and is expected to register strong growth in the coming years as well, owing to increasing dependence on electronic equipment and equipment failure, and changing preferences of young and dynamic population that is highly active towards technology. Furthermore, growing demand of refurbished electronic equipment, government initiatives towards e-waste management and availability of electronic equipment insurance facility are a few other reasons driving the global electronic equipment repair service market. The coronavirus pandemic had a wide-ranging impact on the production of electronic equipment across the globe. During the pandemic, consumers began shifting their preference temporarily from non-essential products like TVs, refrigerators, air conditioners, etc. to necessities like healthy food, immunity boosters and cleaning products. Due to the lockdown, declining disposable income as well as weak consumer sentiment adversely impacted buying interest for new electronic equipment. The demand for electronic equipment repair services reduced as well during the pandemic. The demand for electronic equipment repair services is augmenting due to the increasing electronic equipment failure rates. The electronic equipment failure rates are increasing due to several problems such as rising temperature, current or voltage, ionizing radiation, mechanical shock, poor quality of spare parts, overuse of electronic products, and many other causes. Most people in developing countries like India and Brazil prefer repair services of electronic equipment in place of purchasing new electronic equipment, resulting in the growth of global electronic equipment repair service market. Quest International Inc., B2X Care Solutions GmbH, Redington (India) Limited, Asurion LLC (uBreakiFix), Transform SR Brands LLC. (Sears Home Services), Mendtronix Inc., Global Electronic Services, Inc., MicroFirst Gaming Inc., The CableShoppe Inc (CSI), ACS Industrial Services, Inc., etc. are some of the leading players operating in the global electronic equipment repair service market. Major companies are expanding their manufacturing bases in developing countries to meet rising demand across the developing countries in North America, Asia-Pacific, Europe, Middle East and Africa, and South America. “Electronic equipment are important as they add comfort to everyone’s lives. However, there are many electronic equipment that are used at home or office to achieve many daily chores easily. Thus, the demand for electronic equipment has increased. In developing countries like India, Vietnam and Indonesia, people are very price-sensitive, making it difficult for them to afford expensive or new electronic equipment. Therefore, there is increased demand electronic equipment repair services.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

25. Sample Data - Snapshot Global Electronic Equipment Repair Service Market Size, By Value (USD Billion), 2016-2026F CAGR 2016-2020 By Value: xx% CAGR 2021E-2026F By Value: xx% Asia-Pacific Electronic Equipment Repair Service Market Share, By Product Type, By Value, 2016-2026F India Electronic Equipment Repair Service Market Share, By Service Type, By Value, 2016-2026F

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