The main 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.
New York, February 16, 2022 (GLOBE NEWSWIRE) – Reportlinker.com announces the release of the report “World Report on the repair and maintenance of consumer electronics for 2022.” – https://www.reportlinker.com/p06229725/?utm_source= GNW
Quest International, Inc., The Cableshoppe Inc., uBreakiFix, B2X CARE SOLUTIONS GMBH, Redington Services and Repair World Direct.
The global consumer electronics repair and maintenance market is expected to grow from $ 7.98 billion in 2021 to $ 8.38 billion in 2022 with an overall annual growth rate (CAGR) of 5.1%. The growth is largely driven by companies that restructured their operations and recovered from exposure to COVID-19, which previously led to restrictive containment measures, including social distancing, remote work and business closures, leading to operational problems. The market is expected to reach $ 9.60 billion in 2026 with a CAGR of 3.5%.
The consumer electronics repair and maintenance market consists of the sale of consumer electronics repair and maintenance services by entities (organizations, sole proprietors and companies) engaged in the repair and maintenance of consumer electronics such as TVs, stereos, speakers, CDs and videos DVD players, radios and cameras, without retailing new consumer electronics. Only goods and services traded between entities or sold to final consumers are included.
The main types of repair and maintenance of consumer electronics are speakers and sound panels, microphones, amplifiers and mixers, music players and other devices, TVs, video players, camcorders. A microphone is a device that converts airborne sound waves into electrical signals or recordings. them on a recording medium.
Different types of service include warranty, non-warranty and are used by different verticals, such as industrial and commercial, residential.
Western Europe was the largest region in the consumer electronics repair and maintenance market in 2021. The Asia-Pacific region was the second largest region in the consumer electronics repair and maintenance market.
The regions covered by this report are the Asia-Pacific region, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa.
It is expected that increasing the number of equipment failures and the cost-effectiveness of repairing old equipment, rather than recycling it, will stimulate the market for repair and maintenance of consumer electronics. Branded and non-branded low-cost products regularly fill the market and after some time require repair as they are made of poor quality material or due to regular maintenance.
However, research shows that companies are now using a different approach that creates products that could be easily repaired for use, as fixing a gadget problem is always a more cost-effective solution than buying a new one, thereby boosting trust in the gadget. customers.Customers typically buy and ship products from a company that offers repair manuals, spare parts and provides assistance and advice on product repairs.
Apple has started assembling the oldest iPhone in India. Companies like iFixit and Repair Cafe bring people together to repair devices.
The European Commission is ready to discuss environmental design rules for smartphones from 2021, including access to spare parts and repair information. Thus, the increase in equipment failures and the cost-effectiveness of repairing old equipment contributes to the market for repair and maintenance of consumer electronics.
The COVID-19 pandemic has significantly affected the consumer electronics repair and maintenance industry as governments around the world have imposed blockades and restrictions on non-essential services to prevent the spread of the virus. Repair and maintenance services are heavily dependent on work and availability during this pandemic – a big problem.
The repair industry in countries such as the US, the UK, Germany, Italy, the Middle East and India has also witnessed rising labor costs due to labor shortages in the blocking regime. In total, the repair industry fixes about 25 million electronic devices. in a month, but due to closures and norms of social distancing the products are expected to be accumulated for repairs.
In addition, disruptions in supply chains in different countries have made it difficult to find spare parts for mobile and other electronic devices, forcing consumers to wait longer to use the services.
The countries covered by the consumer electronics repair and maintenance market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom and the United States.
Read the full report: https://www.reportlinker.com/p06229725/?utm_source=GNW
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