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The Electronic and Precision Equipment Repair and Maintenance Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Electronic and Precision Equipment Repair and Maintenance Global Market Report 2024, The electronic and precision equipment repair and maintenance market size has grown strongly in recent years. It will grow from $151.23 billion in 2023 to $161.22 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to industrial machinery and equipment, medical devices, electronics and consumer devices, aerospace and defense equipment.
The electronic and precision equipment repair and maintenance market size is expected to see strong growth in the next few years. It will grow to $204 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to advanced technologies, healthcare equipment maintenance, smart manufacturing, consumer electronics. Major trends in the forecast period include advanced technologies integration, predictive and preventive maintenance, remote maintenance and monitoring, sustainability and circular economy.
An increase in sales of personal computing devices (PCD’s) is expected to propel the growth of the electronic and precision equipment repair and maintenance market. Personal computing devices refer to consumer devices such as desktop computers, laptops, smartphones, and tablets. Due to the pandemic, there was an increase in the number of people working from home, leading to an increase in PCD sales. With more people using PCD’s there is an increase in the need for maintenance and repair for such devices. For example, according to a 2022 report from Singapore based technology market analyst firm, Canalys, the worldwide shipments of desktops, notebooks and workstations for the year 2021 stood at 341 million units, 15% higher than 2020. Therefore, the increase in the sale of personal computing devices is expected to drive the electronic and precision equipment repair and maintenance market going forward.
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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
Top Major Players:
Juniper Networks Inc.
Emcor Group
Illinois Tool Works Inc
Tsubakimoto Chain Co
Apple Inc
Western Europe was the largest region in the electronic and precision equipment repair and maintenance market in 2023.
The electronic and precision equipment repair and maintenance market report table of contents includes:
1. Executive Summary
2. Electronic and Precision Equipment Repair and Maintenance Market Characteristics
3. Electronic and Precision Equipment Repair and Maintenance Product/Service Analysis -Product/Service Examples
4. Electronic and Precision Equipment Repair and Maintenance Market Trends And Strategies
5. Electronic and Precision Equipment Repair and Maintenance Market – Macro Economic Scenario
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68. Global Electronic and Precision Equipment Repair and Maintenance Market Competitive Benchmarking
69. Global Electronic and Precision Equipment Repair and Maintenance Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Electronic and Precision Equipment Repair and Maintenance Market
71. Electronic and Precision Equipment Repair and Maintenance Market Future Outlook and Potential Analysis
72. Appendix
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