The High Manufacturing Capacity of Electronics is Propelling the Growth of the Smartphone Repair Market in the APAC Region!

The Asia Pacific region has been witnessing significant growth in the adoption of smartphone repair, driven by factors such as high smartphone penetration and the presence of tech-savvy customers in the area. The region is home to a large electronics manufacturing hub and the countries such as China are the manufacturing hub for the majority of the international firms. Apple assumed the top spot, due to its popularity with the iPhone 14 series, with a 20% market share, shipping 13.3 million units.

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Further, the Asia-Pacific Smartphone Repair Market is expected to grow at a strong CAGR of 5% during the forecast period (2022-2030). The increasing sales of mobile phones in the region is the primary reason for the market growth of smartphone repair in the Asia-Pacific.

FIG. 1 APAC Smartphone Repair Market Revenue (2020-2030)- USD Mn

Based on components, the smartphone repair market is bifurcated into Software and Hardware. Currently, the hardware segment dominates in 2022. As per dotors, 30% of Americans cracked their phone screen in 2019. A 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.

Based on activity type, the global smartphone repair market is bifurcated into screen repair and replacement, battery repair and replacement, button and jack repair and replacement, camera and sensor repair and replacement, and others. Currently, the Screen Repair and Replacement segment dominates the market, with more than 65% share in 2022. The Square Trade survey stated that as many as 66% of consumers damaged their devices over the past years, including cracks, scratches, and damaged batteries.

Based on the business type, the global smartphone repair market is segmented into brick-and-mortar stores and company-operated service centers. Company-operated services are often more comprehensive and specialized than self-repair services, which are offered by companies that provide customers with the tools and resources needed to repair their own smartphones. Company-operated services are also often more expensive than self-repair services, but they offer a higher level of expertise and assurance that the repair will be completed correctly. Due to these factors, the company-operated services segment acquires dominating share in the market.

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Global Smartphone Repair Market Segmentation

Market Insight, by Component

· Software

· Hardware

Market Insight, by Activity Type

· Screen Repair and Replacement

· Battery Repair and Replacement

· Button and Jack Repair and Replacement

· Camera and sensor repair and replacement

· Others

Market Insight, by Business Type

· Brick-and-mortar stores

· Company operated Service centre

Market Insight, by Region

· North America

o U.S.

o Canada

o Rest of North America

· Europe

o Germany

o UK

o France

o Italy

o Spain

o Rest of Europe

· APAC

o China

o Japan

o India

o Rest of APAC

· Rest of the World

Top Company Profiles

· Apple Inc.

· Best Buy Co. Inc.

· Cell Phone Repair Franchise Systems Inc.

· SquareTrade, Inc

· LG Electronics

· SAMSUNG

· HTC Corporation

· uBreakiFix

· Staymobile

· Motorola Mobility LLC.