Smartphone Repair Market Size & Forecast

The Smartphone Repair market was valued at approximately USD 215.2 Billion in 2023 and is expected to grow at a robust CAGR of around 5% during the forecast period (2024-2032) owing to the increasing smartphone adoption, rising repair affordability compared to replacements, and growing environmental sustainability awareness.

Smartphone Repair Market Analysis

Smartphones have changed the world in a remarkably brief time frame. Currently, nearly half of the world’s population uses a smartphone and annual spending on new smartphone hardware exceeds 370 billion US dollars. Owing to the growing dependence on smartphones as well as the availability of affordable smartphones, the average global smartphone replacement cycle has reached 21 months. Customers from the emerging market are more aggressively replacing their smartphones, compared to customers in the developed economy. The growth of Chinese brands, which offer higher specification devices at affordable prices, has generated a faster upgrade cycle. In addition, the rise of used and refurbished smartphones is also catalyzing this trend.

Smartphone Repair Market Trends

This section discusses the key market trends influencing the Smartphone Repair segments as identified by our research experts.

Software Component Transforming Industry

The software segment is a critical part of the smartphone repair market because it provides repair shops with the tools and resources needed to quickly and accurately diagnose and fix software-related issues on smartphones. This can include fixing bugs, updating apps, and troubleshooting software glitches. Due to the increasing demand for high-performance mobile phones, the demand for the software segment also increases in the smartphone repair market.

Asia Pacific is expected to Dominate the Market

The Asia Pacific region has a large population of smartphone users, with millions of devices in circulation. This extensive user base created a substantial demand for repair services as the devices inevitably experienced issues or damage over time. As a result, the market for smartphone repair is witnessing growth in the region. Further, the region is known for being a competitive market for smartphone manufacturers. Consumers had access to a wide range of brands and models, leading to a diverse pool of devices needing repair services.

Smartphone Repair Industry Overview

Smartphone Repair is competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Apple inc., Best Buy Co. Inc., Cell Phone Repair Franchise Systems Inc., SquareTrade, Inc, LG Electronics, SAMSUNG, HTC Corporation, uBreakiFix, Staymobile, Motorola Mobility LLC. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Smartphone Repair Market News

For instance, in 2024, Oppo announced new customer service initiatives under its Service Centre 3.0 across India. The company has announced that it has expanded its service centres to 25,000 PIN codes with the facility of pick-up and drop services.

For instance, in 2024, Google responded to reports of screen problems on the Pixel 8 by offering an extended repair program for affected devices. If your Pixel 8 is experiencing vertical lines or flickering displays, you may be eligible for a free fix up to three years after your purchase.

Reasons to buy this report:

The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

The report presents a quick review of overall industry performance at one glance.

The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.

Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

The study comprehensively covers the market across different segments.

Deep dive regional level analysis of the industry.

Customization Options:

The global Smartphone Repair can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs; hence, feel free to connect with us to get a report that completely suits your requirements.