Consumer Electronics Repair Services

Industry Profile Report

Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters

Industry Overview Industry Structure, How Firms Opertate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.

Call Preparation Quarterly Insight, Call Prep Questions, Industry Terms, and Weblinks.

Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.

Industry Profile Excerpts

Industry Overview

The 1,700 firms in the US repair and maintain consumer electronics such as cameras, TVs, radios, speakers, amplifiers, media players and recorders. Customers include individuals and households, businesses, and government clients. Firms also contract with electronics manufacturers or become preferred providers for warrantee and recall repair services. Repair and maintenance of computers and communications equipment such as cellphones are not included in this report.

Consumers Replace Rather than Repair

Rather than pay the price to have an existing piece of equipment repaired, consumers often purchase new equipment, which eliminates the opportunity for repair revenue.

Product Recall Opportunities

Firms work with manufacturers to become certified or specialized repair providers, which is handy in the event of product recalls.

Industry size & Structure

A typical consumer electronics repair firm operates out of a single location, employs fewer than 5 workers, and generates about $853,000 annually.

    • The consumer electronics repair industry consists of about 1,700 companies, which employ about 12,300 workers and generate about $1.5 billion annually.
    • Customers include individual consumers and all types of businesses.
    • The 20 largest firms account for 54% of industry revenue, while the rest of the industry is fragmented.
    • Companies include Geek Squad (Best Buy), United Radio, Precision Camera, AbelCine, Consumer Electronic Service, iFix NY and Electronic Wizard.
                                Industry Forecast
                                Consumer Electronics Repair Services Industry Growth
                                Source: Vertical IQ and Inforum

                                Coronavirus Update

                                May 17, 2022 - Semiconductor Shortage to Ease
                                • Electronics repair firms may start to see some easing of the supply constraints in the semiconductor market, according to a recent report by Gartner. Slower growth in the PC, smartphone, and server markets should help bring chip supplies in better balance with demand throughout 2022, but supplies of some products are expected to remain tight. Shortages are projected to stretch into 2023 for semiconductors with wide use in automotive applications, including microcontrollers, power management integrated circuits, and voltage regulators.
                                • The CEO of wireless audio equipment manufacturer Sonos expects strong consumer electronics sales to continue post-pandemic. Patric Spence says that the company is riding three secular trends: the "golden age of audio," direct-to-home movie releases, and a hot housing market. "A lot of people now have new flexibility and freedom to work anywhere and so they're moving, they're setting up a new home and that's perfect for Sonos," he said. Consumer electronics repair services are likely to benefit from continuing industry strength.
                                • Mass retailer Walmart has set up in-store kiosks at which consumer electronics repair services will be offered as a pilot program. The kiosks are staffed by True Network Solutions, which is partnering with the retailer to provide the service.
                                • Some of the adaptations repair firms adopted to cope with the pandemic may remain in place even as the public health crisis has eased. Repair services are made greater use of video and audio chats to walk customers through troubleshooting and minor repairs. Firms also offered touchless exchanges of devices and curbside pickup.
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