Mobile Devices Have 93% Market Penetration

The world’s population is more than 7B, and there are 6.5B mobile phones. That’s a 93% market penetration! In the U.S., there are 185M smartphone and 147M tablet users. The average person carries 2.9 mobile devices and 85% of those are smartphones. With the increasing prevalence of mobile devices, more and more Americans are seeking repair services.

Mobile Service & Repair is an Untapped Growth Market

Our ever-connected society is increasingly reliant mobile devices—smartphones, tablets, wearables, etc. And, because these devices are costly and are easily broken, users look for economical repair solutions instead of replacements. That’s why the mobile repair industry has recognized profound growth over the past five years:

  • Earning $1.4 billion in revenue
  • Recognizing annual growth of 4.9%
  • Projected annual industry revenue rate of 10.9%*

Box: The Mobile Service & Repair Market by the Numbers

  • 91% of smartphone owners keep their phone with them at all times
  • 30% of smartphone owners accidentally damaged their device in the last year
  • 17% of smartphone owners have damaged their phone more than once
  • Accidental damage to a mobile device is 10 Xs more likely than loss or theft
  • Americans have spent $16B on repairing damaged smartphones
  • 50% of college students have damaged their smartphone and bring $49B of electronics to school

Smartphones currently represent more than two thirds of all mobile phone sales and half of all mobile phone users. The rapid market acceptance of smartphones has created a need for more cell phone repair shops to keep up with this growing market.

– IBISWorld industry analyst Nima Samadi