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Electronic and Precision Equipment Repair and Maintenance Global Market Report 2021: COVID 19 Impact and Recovery to 2030

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New York, Feb. 17, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Electronic and Precision Equipment Repair and Maintenance Global Market Report 2021: COVID 19 Impact and Recovery to 2030” – https://www.reportlinker.com/p06025322/?utm_source=GNW
17 billion in 2020 to $142.98 billion in 2021 at a compound annual growth rate (CAGR) of 8.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $188.88 billion in 2025 at a CAGR of 7%.

The electronic and precision equipment repair and maintenance market consists of sales of electronic and precision equipment repair and maintenance services by entities (organizations, sole traders and partnerships) that provide electronic and precision equipment repair and maintenance services for electronic and precision equipment including electronic products and navigational, measuring, electro medical and control instruments. The electronic and precision equipment repair and maintenance market is segmented into consumer electronics repair and maintenance; computer and office machine repair and maintenance; communication equipment repair and maintenance; and other electronic and precision equipment repair and maintenance.

Western Europe was the largest region in the global electronic and precision equipment repair and maintenance market, accounting for 35% of the market in 2020. Asia Pacific was the second largest region accounting for 30% of the global electronic and precision equipment repair and maintenance market. Africa was the smallest region in the global electronic and precision equipment repair and maintenance market.

Companies involved in the repair and maintenance of electronic equipment are using artificial intelligence (AI)-predictive analysis for increasing the quality of their services. This analysis with the use of IoT technology sensors enable the service providers to identify the critical part which has the possibility to fail and understand the current status of the components. Companies like Neuron Soundware and KONUX use AI-predictive maintenance to identify anomalies and improve the detection and identification of potential breakdown causes.

Read the full report: https://www.reportlinker.com/p06025322/?utm_source=GNW

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