India, Brazil, U.S., consumer electronics repair and maintenance industry is segmented on the basis of equipment type, end user, service type, and market type.
— Roshan Deshmukh
5933 NE WIN SIVERS DRIVE, PORTLAND, OR, UNITED STATES, October 13, 2023 /EINPresswire.com/ — 𝐓𝐡𝐞 𝐈𝐧𝐝𝐢𝐚, 𝐁𝐫𝐚𝐳𝐢𝐥, 𝐔.𝐒., 𝐜𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐞𝐥𝐞𝐜𝐭𝐫𝐨𝐧𝐢𝐜𝐬 𝐫𝐞𝐩𝐚𝐢𝐫 𝐚𝐧𝐝 𝐦𝐚𝐢𝐧𝐭𝐞𝐧𝐚𝐧𝐜𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐢𝐳𝐞 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 $𝟑,𝟕𝟓𝟑.𝟓 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟎, 𝐚𝐧𝐝 𝐢𝐬 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 $𝟒,𝟕𝟓𝟏.𝟏 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟎, 𝐫𝐞𝐠𝐢𝐬𝐭𝐞𝐫𝐢𝐧𝐠 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟐.𝟎% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟏 𝐭𝐨 𝟐𝟎𝟑𝟎.
Allied Market Research published a new report, titled, “India, Brazil, U.S., Consumer Electronics Repair and Maintenance Market” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
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Over the last few years there is increase in the digitalization of all the electronic equipment. Therefore, most of the equipment are available with AI driven smart features. This, in turn, increases the need for repair and maintenance. Market players are expanding their service centers in smaller towns of Brazil and India; the market is already well-established in the U.S. Moreover, application of digitalization in consumer electronic products is increasing efficiency in making supply chain process easier and transparent.
The number of social media users has increased considerably with rise in internet penetration. Taking this into consideration, most of the key players in the consumer electronics repair and maintenance strategize on promoting their products and services on these social media platforms. Social media marketing is one of the major strategies adopted by various companies and industries on imparting awareness about their services among target customers on social media channels.
However, there are some costly spare parts in electronic equipment. These include mobile phones and laptops and these spare parts cost higher and in such cases residential end users prefer buying the new product rather than repair it or maintaining it. In the mobile phones, sometimes, the price of a display screen is much higher so that the customers do not invest much amount in repair the display screens and prefer buying the new mobile phones. This restricts the growth of the India, Brazil, U.S., consumer electronic equipment repair and maintenance market trends.
For example, companies like Urbanclap Technologies India Private Limited, American Home Shield ProConnect, and others continuously indulged in advertisement and promotion of their services to increase their customer base. Thus, through social media advertisement and promotion strategy, India, Brazil, U.S., consumer electronics repair and maintenance market opportunities is gaining traction and increasing its customer reach among its target segments.
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Similarly, in laptops if a motherboard is damaged cost for new motherboard is almost half of the new laptops and hence customers do not rely on Repair and using the laptops again for the next 2-3 years. Customers prefer buying a new laptop, which will give them life of another 8 to 10 years rather than just Repair the laptop and using it for 2 to 3 years. These factors limit India, Brazil, U.S., consumer electronic equipment repair and maintenance market growth.
The key players profiled in the India, Brazil and U.S., consumer electronic equipment repair and maintenance analysis includes American Home Shield ProConnect, Asurion, LLC, Best Buy Co., Inc., B2X Care Solutions GmbH, CNS Brasil Informática LTDA, Complete Appliance Protection, Inc., Fixt Inc., OneCall India, Onsitego and Urbanclap Technologies India Private Limited
Key findings of the study:
○ By end user, the residential segment led the market demand in 2020, and is expected to retain its dominance throughout the forecast period.
○ By equipment type, the mobile segment dominated the market in 2020, and is expected to retain its dominance throughout the India, Brazil and U.S., consumer electronic equipment repair and maintenance market forecast period.
○ By service type, the out of warranty segment dominated the global market in 2020, and is expected to retain its dominance throughout the forecast period.
○ By country, the U.S. accounted for highest India, Brazil and U.S., consumer electronic equipment repair and maintenance market share in 2020, and is expected to grow at a CAGR of 1.2%.
○ By market type, the organized segment is expected to grow at a significant CAGR during the forecasted period.
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