Electronic equipment repair service providers offer repair services for equipment such as consumer electronics, home appliances, medical equipment, and industrial equipment. At present, the consumer electronics segment of the electronic equipment repair service market is expanding at a higher rate due to increase in equipment failure rates and cost benefits of repairing old equipment instead of disposing it. Furthermore, the medical equipment segment is expected to maintain its market share over the forecast period due to high repairing costs and high labor charges as compared to other equipment.

The electronic equipment repair service market is expanding at a rapid pace owing to introduction of a number of new and innovative electronic equipment and products in the market. This is augmenting demand for electronic equipment repair industries as well as technicians across the world. In addition, the demand for refurbished electronics products is rising rapidly around the globe, driven primarily by consumers from developing regions due to the low levels of disposable incomes in these regions. Rise in demand for refurbished electronic equipment is anticipated to provide substantial expansion opportunities to the electronic equipment repair service market. Furthermore, rise in demand for smartphones & tablets and other electronic equipment, especially in developing regions, is driving the global electronic equipment repair service market. This is largely due to the growing requirement for Internet accessibility among end-users.

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However, poor-quality or duplicate spare parts of electronic equipment is a major factor restraining the electronic equipment repair service market. Moreover, the shift in consumer behavior toward buying new electronic equipment is anticipated to hinder the electronic equipment repair service market.

Rise in adoption of electronic equipment insurance services around the globe is a major factor expected to create new opportunities for the electronic equipment repair service market over the forecast period. Moreover, electronic equipment service providers across the world are emphasizing on providing online home services to meet the requirements of their customers in an efficient manner. Furthermore, with a wide range of services offered by service providers, including insurance and warranty for equipment, the electronic equipment repair service market is anticipated to see prominent expansion opportunities in the coming years.

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