An original manufacturer-returned smartphone is one that is then sold at a reduced price by that manufacturer or one of its reliable partners. Similar to that, carriers like Verizon, AT&T, or any other carrier may also provide and sell non-factory refurbished smartphones. It might provide their own unique refurbished bargains, in which devices are discounted and come with a particular dedicated warranty. Typically, used phones won't come with the original box or all of the attachments. However, they frequently undergo testing and have warranties.
Rise in consumer dependency on smartphone devices and increase in the number of companies providing EMI options for phone are driving the growth of the market. In addition, the cost-efficiency of refurbished and used mobile phones fuels the growth of the refurbished and used mobile phones market. However, the scarcity of top models and limitation in warranty period of refurbished and used mobile phones limit the growth of the market. Conversely, rise in adaption of e-commerce platforms among buyers and sellers is anticipated to provide numerous opportunities for the expansion of the market during the forecast period.
The refurbished and used mobile phones market is segmented into type, price range, application, and region. By type, the market is bifurcated into refurbished phones and used phones. By price range, it is divided into low-priced, mid-priced, and premium. By application, it is bifurcated into individuals and businesses. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global refurbished and used mobile phones market is dominated by key players such as Apple Inc., Amazon, Samsung, Verizon Communications, Inc, Cashify, Walmart, eBay, Paytm, Huawei, AT&T Inc. These players have adopted various Strategies to increase their market penetration and strengthen their position in the industry.
KEY BENEFITS FOR STAKEHOLDERS
Rise in consumer dependency on smartphone devices and increase in the number of companies providing EMI options for phone are driving the growth of the market. In addition, the cost-efficiency of refurbished and used mobile phones fuels the growth of the refurbished and used mobile phones market. However, the scarcity of top models and limitation in warranty period of refurbished and used mobile phones limit the growth of the market. Conversely, rise in adaption of e-commerce platforms among buyers and sellers is anticipated to provide numerous opportunities for the expansion of the market during the forecast period.
The refurbished and used mobile phones market is segmented into type, price range, application, and region. By type, the market is bifurcated into refurbished phones and used phones. By price range, it is divided into low-priced, mid-priced, and premium. By application, it is bifurcated into individuals and businesses. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global refurbished and used mobile phones market is dominated by key players such as Apple Inc., Amazon, Samsung, Verizon Communications, Inc, Cashify, Walmart, eBay, Paytm, Huawei, AT&T Inc. These players have adopted various Strategies to increase their market penetration and strengthen their position in the industry.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global refurbished and used mobile phones market forecast along with the current & future trends to explain the imminent investment pockets.
- information about key drivers, restraints, & opportunities and their impact analysis on global refurbished and used mobile phones market trends is provided in the report.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2022 to 2031 is provided to determine the market potential.
Key Market Segments
By Type
- Refurbished Phone
- Used Phone
By Price Range
- Low Price (Below $200)
- Mid Price ($200 to $500)
- Premium (Above $500)
By Application
- Individual
- Businesses
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Amazon.com, Inc.
- Apple Inc.
- cashify
- Paytm
- Samsung Electronics Co Ltd
- Walmart
- eBay
- AT&T Inc.
- Huawei Technologies Co., Ltd.
- Verizon Communications, Inc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: REFURBISHED AND USED MOBILE PHONES MARKET, BY TYPE
CHAPTER 5: REFURBISHED AND USED MOBILE PHONES MARKET, BY PRICE RANGE
CHAPTER 6: REFURBISHED AND USED MOBILE PHONES MARKET, BY APPLICATION
CHAPTER 7: REFURBISHED AND USED MOBILE PHONES MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, 'Refurbished and Used Mobile Phones Market,' the refurbished and used mobile phones market was valued at $51.97 billion in 2021, and is estimated to reach $145.9 billion by 2031, growing at a CAGR of 11.2% from 2022 to 2031.Refurbished and used mobile phones market is driven by the fact that many consumers are looking for a more sustainable way to own a smartphone, as this also allows them to enjoy the benefits of owning a smartphone without having a negative impact on the environment. Overall, the refurbished and used mobile phones market is a growing and dynamic industry that is driven by a combination of environmental and economic factors, as well as the rapid pace of technological innovation.
Key factors driving the growth of the refurbished and used mobile phones market include rise in consumer dependency on smartphone devices globally and increase in the number of companies providing EMI options for phones are driving the growth of the market. Buying refurbished mobiles from top brands such as Apple, one plus, Mi, Samsung, and Vivo by paying the full price is projected to affect savings for emergencies. However, purchasing used mobile phones on EMI ensures sufficient savings at all points in time. Furthermore, the constant rise in number of companies providing EMI options, including Flipkart, Amazon, Paytm, and others, has increased the reachability of customers in the mobile phone accessories segment, which in turn, expands the growth outlook of the global market. Also, buy now pay later (BNPL), one such important initiative in the EMI option, is becoming one of the fastest-growing online payment methods for buying refurbished devices. Therefore, resellers are encouraged to sell and deliver phones at discounted rates and also affordable to groups of individuals with different income levels. For instance, in December 2022, Payment merchant Zest money introduced a no-cost EMI solution for buying a used mobile phone in installments with no extra cost.
The market also offers growth opportunities to the key players in the market. The use of refurbished and used mobile phones has become increasingly popular over time. Developing economies, especially India and China, are making large investments in the resale of old and refurbished cell phones. Many buyers and resellers find it challenging to sell or refurbish mobile devices through conventional channels. E-commerce is proving to be an exceptional platform for buyers and shoppers under these circumstances. Online marketplaces like Amazon, eBay, OLX, Alibaba, and others make buying refurbished and used mobile phones simple and affordable. These platforms offer buyers a rapid glance, a thorough description, information about the state of the phone, and a simple return process in case of any manufacturing flaws. For instance, Amazon. had started a pilot to sell brand-refurbished smartphones from brands like Samsung and Xiaomi, to begin with. The brands revamped these smartphones and are as good as the new ones. The smartphones come with 6 month or higher warranty from the brands and customers can rest assured of their quality, durability, and functionality. Thus, an increase in the number of e-Commerce platforms is fueling demand growth in the refurbished and used mobile phones market.
The refurbished and used mobile phones market is segmented into type, price range, application, and region. By type, the market is bifurcated into refurbished phones and used phones. By price range, it is divided into low-priced, mid-priced, and premium. By application, it is bifurcated into individuals and businesses. Region wise, it is analyzed across North America (the U.S., and Canada), Europe (the UK, Germany, France, Italy, Spain, and the rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The key players profiled in the study Apple Inc., Amazon, Samsung, Verizon Communications, Inc, Cashify, Walmart, eBay, Paytm, Huawei, and AT&T Inc. The players in the market have been actively engaged in the adoption of various Strategies such as partnership, collaboration, acquisition, product development, and product launch to remain competitive and gain an advantage over the competitors in the market. For instance, in January 2022, The Flipkart Group has acquired Yaantra, an electronics recommence company, to strengthen its recommence business and enhance after-sales offerings in the smartphones segment.
Key Market Insights
By type, the used phone segment was the highest revenue contributor to the market, and is estimated to reach $ 70.88 billion by 2031, with a CAGR of 10.0%. However, the refurbished phone segment is estimated to be the fastest-growing segment with a CAGR of 12.5% during the forecast period.By price range, the low price (Below $200) segment dominated the global market, and is estimated to reach $ 66.53 billion by 2031, with a CAGR of 9.6%. However, the premium (above $500) segment is expected to be the fastest-growing segment during the refurbished and used mobile phones market Forecast.
Based on application, the individual segment was the highest revenue contributor to the market, with $ 34.84 billion in 2021, and is estimated to reach $ 106.72 billion by 2031, with a CAGR of 12.2%.
Based on region, Asia-Pacific was the highest revenue contributor and fastest growing region, accounting for $ 16.85 billion in 2021, and is estimated to reach $ 57.84 billion by 2031, with a CAGR of 13.4%.
Companies Mentioned
- Amazon.com, Inc.
- Apple Inc.
- cashify
- Paytm
- Samsung Electronics Co Ltd
- Walmart
- eBay
- AT&T Inc.
- Huawei Technologies Co., Ltd.
- Verizon Communications, Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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