As per Urgagdgetdotors, 30% of Americans have cracked their phone screen in 2019. Cracked screen is the most common repair work in this industry. Approximately 50 million cracked and smashed phones are repaired every year in the US. The Square Trade survey, stated that as many as 66% of consumers damaged their devices over the past year, including cracks, scratches, and damaged batteries. US consumers spent over US$23.5 billion for replacing parts (Mostly cracked screen) of broken phone. The most repaired device in this industry is the iPhone and iPad. Used Apple products have more value than any other brand or product, as one can sell repaired Apple products for 6 times the price of other brands used products. US customers can get about 50% of their original value in the first re-sold transaction in case of iPhone and iPad. About 1 in 4 iPhone users need to repair the cracked screen at least once while using the device. About 50% of US consumers own at least one product of the Apple brand. This industry not only repairs phones but also sells defensive products such as phone accessories, screen protectors, and other related products that prevent damage to the phone in case of dropping from hand or other reasons. Around 60% of cell phone repair shops do this job.
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The typical home of 2.6 people has an average of 24 gadgets, including at least one smartphone double the number 15 years ago, according to the Consumer Electronics Association, a trade group in the US. According to CNBC, one can easily earn US$15 by doing the simple task of repairing a jammed button or malfunctioning operating system. In 2015 Americans spent US$4 billion on cell phone repairs. Although CNBC is way off on the profit price, the normal profit on a repair is US$80 average. According to LifeLine, US phone users need to repair their phones owing to some common causes such as falling into the liquid like a pool or puddle, getting knocked off a table, falling out of the user’s lap or pocket, and having liquid spilled on it. About 30% of iPhone damage is from these common causes
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According to PC Magazine, Men are 57% more likely to drop their cell phones into a toilet compared to 40% in case of women. Men are 70% more likely to lose their phones compared to women. Users are frustrated for a long time using the same phone because it takes too long to load something. In this case, 20% of cell phone users need to buy a new phone or repair the old one. According to CNET, a total of 51% of iPhone damaged inside the house, with 21% in the kitchen, 18% in the living room, and 16% in the bathroom. These damages happened accidentally. Water damage has remarkable significance in this industry. Each year 43% of the repair are done for liquid damage, with soda, coffee and tea accounting for 19%, 12%, and 12% respectively
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Furthermore, as per the SquareTrade 79% of people wait more than a week to get their device fixed. Americans spent 10.7 billion repairing and replacing phones. The repair industry is expected to grow a steady pace, as every single person can be a potential customer now or in the future. In addition, Americans throw away 416,000 cell phones every day, with 151.8 million phones trashed every year. Americans spent more than US$3 billion on fixing broken smartphones screens. As per a non-profit Tech Dump (company takes donated electronics to repair or recycle); estimated that only 14% can be repaired due to lack of parts and manuals. In 2019, the average cell phone repair shop is expected to spend almost “0” on capital expenditures for every dollar spent on labor, indicating a highly labor
Table of Contents
1 MARKET INTRODUCTION
1.1 Market Definition
1.2 Objective of the Study
1.3 Limitation
1.4 Stakeholders
1.5 Currency used in the Report
1.6 Scope of the Smartphone Repair Market Study
2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1 Research Methodology for the Smartphone Repair Market Study
2.1.1 Main objective of the Smartphone Repair Market Study
3 INDUSTRY SYNOPSIS
4 EXECUTIVE SUMMARY
5 GLOBAL SMARTPHONE REPAIR MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increased penetration of Online Businesses
5.1.2 Proliferation of Social Media and Smartphones
5.1.3 Increasing per capita disposable income
5.2 Market Challenges
5.2.1 Unauthorized repairers and lack of access to original spare parts
5.2.2 Waste regulations and refurbishment
5.3 Market Opportunities
5.3.1 Changing price of semiconductor and electronic components
6 SMARTPHPONE REPAIR COST ANALYSIS
7 DEMAND AND SUPPLY SIDE ANALYSIS
7.1 Demand Side Analysis
7.2 Supply Side Analysis
7.2.1 Top Product Launches
7.2.2 Top Business Partnership Expansions & Investments
7.2.3 Top Mergers and Acquisitions
8 VALUE CHAIN ANALYSIS
8.1 Smartphone Timeline (Value Chain)
8.2 Relationships between key intermediaries in the value chain of Phone industry
9 MARKET INSIGHTS BY COMPONENT
9.1 Software
9.2 Hardware
10 MARKET INSIGHTS BY ACTIVITY AREA
10.1 Screen Repair and Replacement
10.2 Battery Repair and Replacement
10.3 Button and Jack Repair and Replacement
10.4 Camera & sensor Repair and Replacement
10.5 Others (Software related)
11 MARKET INSIGHTS BY BUSINESS TYPE
11.1 Brick-and-mortar stores
11.2 Company operated Service centre
12 MARKET INSIGHTS BY REGION
12.1 Market Attractiveness Index, By Region
12.2 North America Smartphone Repair Market
12.2.1 United States
12.2.2 Canada
12.2.3 Rest of North America
12.3 Europe Smartphone Repair Market
12.3.1 Germany
12.3.2 United Kingdom
12.3.3 France
12.3.4 Netherlands
12.3.5 Poland
12.3.6 Rest of Europe
12.4 Asia Pacific Smartphone Repair Market
12.4.1 China
12.4.2 India
12.4.3 South Korea
12.4.4 Rest of Asia-Pacific
12.5 Rest of World Smartphone Repair Market
13 COMPETITIVE SCENARIO
13.1 Global Smartphone Shipment and Market Share, by Company 2018-2019
13.2 List of Top Electronics Repair Services Startups
13.3 Market Share of Key Players in the US Smartphone Industry, 2020 (%)
13.4 Key Success Factor for Smartphone Repair Service Providers
14 TOP COMPANY PROFILES
14.1 Apple inc.
14.2 Best Buy Co. Inc.
14.3 Cell Phone Repair Franchise Systems Inc.
14.4 Square Trade
14.5 LG Electronics
14.6 Samsung Electronics
14.7 HTC Corporation
14.8 uBreakiFix
14.9 Staymobile
14.10 Motorola
15 DISCLAIMER----
..…..continued
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