Global Personal Goods Repair And Maintenance Market Players Take On Cutting-Edge Technology For Improved Efficiency

The global personal goods repair and maintenance market report by TBRC expands on the industry outlook and opportunities.

LONDON , April 5, 2022 /PRNewswire/ -- Companies operating in the personal goods repair and maintenance market are focusing on adopting advanced technologies such as the internet of things and augmented reality to enhance their performance.

The global personal goods repair and maintenance market size is expected to grow from $124.52 billion in 2021 to $136.77 billion in 2022 at a compound annual growth rate (CAGR) of 9.8%. Personal goods repair and maintenance market 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 $190.07 billion in 2026 at a CAGR of 8.6%.

Request a free sample of the Market Report

Technological Advancement Trends Include Use of IoT

Companies operating in personal goods repair and maintenance are increasingly using IoT technology to enhance the repair and maintenance of personal goods to improve efficiency. The increasing use of household appliances and other personal goods leads to an increasing demand for the maintenance and repair of damaged or faulty equipment. Repair and maintenance companies are adopting IoT to monitor, maintain, and optimize products for improved availability, utilization, and performance. IoT also helps customers set up repair work requests at the shop remotely integrated with payment through their smartphones.

Personal Goods Repair and Maintenance Market Segmentation

The personal goods repair and maintenance market is segmented by type into home and garden equipment repair and maintenance, appliance repair and maintenance, reupholstery and furniture repair, footwear and leather goods repair, other personal and household goods repair and maintenance. The other personal and household goods repair and maintenance segment was the largest segment of the market segmented by type, accounting for 40.0% of the total in 2021. Going forward, appliance repair and maintenance segment is expected to be the fastest growing segment at a CAGR of 12.0% during 2021-2026.

The personal goods repair and maintenance market is also segmented by mode into online and offline and by service type into inspection, maintenance, and repair.

Market Growth Opportunities

The top opportunities in the personal goods repair and maintenance market segmented by type will arise in the appliance repair and maintenance segment, which will gain $29,371.5 million of global annual sales by 2026. The top opportunities in the personal goods repair market segmented by mode will arise in the offline segment, and by service type will arise in the repair segment.

The personal goods repair and maintenance market size will gain the most in the USA at $13,193.2 million.      

See more on the Personal Goods Repair And Maintenance Market Report

Check out similar market reports:

Consumer Electronics Repair and Maintenance Global Market Report 2022 – By Type (Loudspeakers and Sound Bars, Microphones, Amplifiers and Mixers, Music Players and other devices, Televisions, Video Players, Video Cameras), By Service Type (In-warranty, Out of Warranty), By End User (Industrial and commercial, Residential) – Market Size, Trends, And Global Forecast 2022-2026

Retail And Wholesale Global Market Report 2022 – By Type (Retail, Wholesale), By Ownership (Retail Chain/Wholesale Chain, Independent Retailer/Independent Wholesalers), By Price Range (Premium, Mid-Range, Economy), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Department Stores, Specialty Stores, Online) – Market Size, Trends, And Global Forecast 2022-2026

Personal Services Global Market Report 2022 – By Type (Personal Care Services, Death Care Services, Dry-Cleaning And Laundry Services, Other Personal Services, Private Household Services), By Mode (Online, Offline), By Distribution Channel (Specialist Retail Stores, Supermarkets/Hypermarkets, Convenience Stores, Pharmacies/Drug Stores, Online Retail Channels, Other Distribution Channels) – Market Size, Trends, And Global Forecast 2022-2026

Interested to know more about The Business Research Company?

The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally, it has strategy enablement specialists in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.

The World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.

Contact Information

The Business Research Company 
Europe: +44 207 1930 708 
Asia: +91 8897263534 
Americas: +1 315 623 0293 
Email: [email protected] 
LinkedIn: https://in.linkedin.com/company/the-business-research-company 
Twitter: https://twitter.com/tbrc_info 
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ 
Blog: http://blog.tbrc.info/

SOURCE The Business Research Company

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED