Electronic and Precision Equipment Repair and Maintenance Market Shows Robust Growth and Promising Future

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LONDON, GREATER LONDON, UK, January 16, 2024 /EINPresswire.com/ — The electronic and precision equipment repair and maintenance market has demonstrated robust growth, surging from $151.23 billion in 2023 to a projected $161.22 billion in 2024, showcasing a notable compound annual growth rate (CAGR) of 6.6%. Projections suggest a continuous upward trajectory, with the market poised to reach $204 billion in 2028, driven by a CAGR of 6.1%.

The surge in personal computing devices (PCD) sales, attributed to the rise in remote work during the pandemic, has become a significant driver for the electronic and precision equipment repair and maintenance market. Global shipments of desktops, notebooks, and workstations reached 341 million units in 2021, a 15% increase from 2020. This surge in PCD usage is expected to boost the demand for maintenance and repair services, solidifying the market’s growth.

Semiconductor Industry Boosts Market
The flourishing semiconductor industry plays a pivotal role in propelling the electronic and precision equipment repair and maintenance market. With global semiconductor sales reaching $574.1 billion in 2022, according to the Semiconductor Industry Association, there is an amplified demand for repair and maintenance services to ensure the reliability and functionality of electronic devices.

Explore the Global Electronic and Precision Equipment Repair and Maintenance Market with a Detailed Sample Report:

AI-Predictive Maintenance Enhances Service Quality
Companies in the electronic equipment repair and maintenance sector are harnessing artificial intelligence (AI)-predictive analysis and IoT technology sensors to enhance service quality. This strategic use of technology enables service providers to identify critical components, potential breakdown causes, and elevate the overall service standard.

Innovations in Self-Service Repair
Major players in the market are increasingly focusing on innovation, with a notable trend being the introduction of self-service repair. Initiatives like Apple Inc.’s self-service repair program empower customers to independently access genuine parts and tools for repairs, providing a competitive edge in the market.

Geographic Insights
In 2023, Western Europe emerged as the largest region in the electronic and precision equipment repair and maintenance market, with Asia-Pacific following closely as the second-largest region.

Market Segmentation
The electronic and precision equipment repair and maintenance market report covers comprehensive segmentation:
• 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
• By Mode: Online, Offline
• By Service Type: Inspection, Maintenance, Repair

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Electronic and Precision Equipment Repair and Maintenance Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Electronic and Precision Equipment Repair and Maintenance Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on electronic and precision equipment repair and maintenance market size, electronic and precision equipment repair and maintenance market drivers and trends, electronic and precision equipment repair and maintenance market major players, electronic and precision equipment repair and maintenance market competitors’ revenues, electronic and precision equipment repair and maintenance market positioning, and electronic and precision equipment repair and maintenance market growth across geographies. The electronic and precision equipment repair and maintenance market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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