Dublin, April 07, 2021 (GLOBE NEWSWIRE) — The “Consumer Electronics Repair and Maintenance Global Market Opportunities and Strategies to 2030: COVID-19 Growth and Change” 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 reached a value of nearly $16,520.0 million in 2020, having increased at a compound annual growth rate (CAGR) of 5.4% since 2015. The market is expected to grow from $16,520.0 million in 2020 to $23,772.3 million in 2025 at a rate of 7.6%. The market is then expected to grow at a CAGR of 7.1% from 2025 and reach $33,436.2 million in 2030.
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Where is the largest and fastest growing market for the consumer electronics repair and maintenance market? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The global consumer electronics repair and maintenance market opportunities and strategies to 2030 report answers all these questions and many more.
The report covers the following chapters
- Executive Summary – The executive summary section of the report gives a brief overview and summary of the report
- Report Structure – This section gives the structure of the report and the information covered in the various sections.
- Introduction – The introduction section of the report gives brief introduction about segmentation by geography, segmentation by type, by service type and by end user.
- Market Characteristics – The market characteristics section of the report defines and explains the consumer electronics repair and maintenance market. This chapter includes different products type, services and end user covered in the report and basic definitions.
- Trends and Strategies – This chapter describes the major trends shaping the global consumer electronics repair and maintenance market. This section highlights likely future developments in the market and suggests approaches companies can take to exploit these opportunities.
- Impact of COVID-19 – This section describes the impact of COVID-19 on the consumer electronics repair and maintenance market.
- Global Market Size and Growth – This section contains the global historic (2015-2020) and forecast (2020-2025), and (2025-2030) market values, and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional Analysis – This section contains the historic (2015-2020) and forecast (2019-2023), ((2020-2025), and (2025-2030) market values and growth and market share comparison by region.
- Market Segmentation – This section contains the market values (2015-2030) and analysis for different segments.
- Regional Market Size and Growth – This section contains the region’s market size (2020), historic (2015-2020) and forecast (2020-2025), and (2025-2030) market values, and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region. The market overview sections of the report describe the current size of the market, background information, government initiatives, regulations, regulatory bodies, associations, corporate tax structure, investments, and major companies.
- Competitive Landscape – This section covers details on the competitive landscape of the global consumer electronics repair and maintenance market, estimated market shares, and company profiles for the leading players.
- Key Mergers and Acquisitions – This chapter gives information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities and Strategies – This section includes market opportunities and strategies based on the findings of the research. This section also gives information on growth opportunities across countries, segments and strategies to be followed in those markets. It gives an understanding of where there is the significant business to be gained by competitors in the next five years.
- Conclusions and Recommendations – This section includes conclusions and recommendations based on the findings of the research. This section also gives recommendations for consumer electronics repair and maintenance companies in terms of product/service offerings, geographic expansion, marketing strategies and target groups.
- Appendix – This section includes details on the NAICS codes covered, abbreviations, and currency codes used in this report.
The COVID-19 pandemic has disrupted global economies and supply chains across various industries, including the consumer electronics repair and maintenance sector. COVID-19 originated in the Wuhan Province of China, in December 2019 and spread across the world. Many countries have imposed an unexpected and unprecedented lockdown and also implemented various travel restrictions and quarantine measures to curb the coronavirus spread. Its impact has been seen on the global consumer electronics repair and maintenance market, as replacement parts and accessories supply chains were disrupted and manufacturing closed down in accordance with the government measures to prevent the spread of the virus.
The consumer electronics repair and maintenance market is highly fragmented with a large number of local players having intense competition. The market fragmentation can be attributed to the availability of a large number of service providers, innovative product repairing approaches, and high competition among the players in the market. The top 10 companies in the market occupied 3.81% of the market share in the global consumer electronics repair and maintenance market. Major players in the market include Redington, uBreakiFix, B2X CARE SOLUTIONS GMBH, Encompass Supply Chain Solutions Inc., Onsitego, The Allstate Corporation, Global Electronic Services, Inc., Electronix Services, MicroFirst Gaming Inc., and Quest International, Inc.
The top opportunities in the consumer electronics repair and maintenance market segmented by type will arise in the television segment, which will gain $4,930.5 million of global annual sales by 2025. The top opportunities in the segment by service type will arise in the out of warranty segment, which will gain $4,373.2 million of global annual sales by 2025. The top opportunities in a segment by the end user will arise in the residential segment, which will gain $6,771.0 million of global annual sales by 2025. The consumer electronics repair and maintenance market size will gain the most in China at $1,597.4 million.
Market-trend-based strategies for the consumer electronics repair and maintenance market include focusing on adopting IoT for their operations to enhance efficiency and to keep track of the real-time status of devices, focusing on implementing AR-based procedures to enhance their performance, and merging with financial and other electronic component companies to strengthen the financial stability and fast and better performance.