Global Electronic and Precision Equipment Repair and Maintenance Market Growth Drivers 2024, Forecast To 2033
11 Jan, 2024
The market for electronic and precision equipment repair and maintenance has seen strong growth, increasing from $151.23 billion in 2023 to $161.22 billion in 2024, reflecting a Compound Annual Growth Rate (CAGR) of 6.6%. Historical growth is attributed to the maintenance of industrial machinery, medical devices, electronics, and aerospace and defense equipment. The forecast indicates continued strong growth, reaching $204 billion in 2028 with a 6.1% CAGR, driven by the integration of advanced technologies, healthcare equipment maintenance, and the expansion of smart manufacturing.
Global Electronic and Precision Equipment Repair and Maintenance Market Key Driver
The surge in sales of personal computing devices (PCDs) is set to drive the growth of the electronic and precision equipment repair and maintenance market. PCDs, encompassing desktop computers, laptops, smartphones, and tablets, experienced increased sales due to the rise in remote work during the pandemic. The heightened use of PCDs results in a greater need for maintenance and repair services. For example, global shipments of desktops, notebooks, and workstations in 2021 stood at 341 million units, a 15% increase from 2020, as reported by Singapore-based technology market analyst firm Canalys. Consequently, the rise in PCD sales is expected to drive the electronic and precision equipment repair and maintenance market.
Get A Free Sample Of The Global Electronic and Precision Equipment Repair and Maintenance Market ReportGlobal Electronic and Precision Equipment Repair and Maintenance Market Segments
The electronic and precision equipment repair and maintenance market covered in this report is segmented –
1)By Type: Consumer Electronics Repair and Maintenance, Computer and Office Machine Repair and Maintenance, Communication Equipment Repair and Maintenance, Other Electronic and Precision Equipment Repair and Maintenance
2)By Mode: Online, Offline
3)By Service Type: Inspection, Maintenance, Repair
By Geography: 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. Among these regions
Western Europe was the largest region in the electronic and precision equipment repair and maintenance market in 2023. 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.
Major Electronic and Precision Equipment Repair and Maintenance Industry Players
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.
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Electronic and Precision Equipment Repair and Maintenance Market Overview
Electronic equipment repair and maintenance refers to repairing and maintaining equipment used in electronic systems such as electronic components and circuits. Precision equipment repair and maintenance refers to the process of repair and maintenance of precision equipment that provides accurate measurement results.
Electronic and Precision Equipment Repair and Maintenance Global Market Report 2023 provides data on the global electronic and precision equipment repair and maintenance market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The electronic and precision equipment repair and maintenance market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.