Global Refurbished and Used Mobile Phones Market Share Is Expected To Grow At A CAGR Of 11.46% By 2030

28-Mar-2023 | Facts and Factors

According to the Facts & Factors report, the global refurbished and used mobile phones market size was worth around USD 64.15 billion in 2022 and is predicted to grow to around USD 152.86 billion by 2030 with a compound annual growth rate (CAGR) of roughly 11.46% between 2023 and 2030.

 The industry deals with the buying and selling of used or refurbished mobile phones including tablets, phones, and other relevant devices. Typical transactions that occur in the market include buying mobile phones from an individual seller or a business, conducting an inspection process to ensure the grade and quality of the product, refurbishing or repairing it, in case of defects or damages, and reselling it back to a client or a customer at a price lower than the cost of the original brand-new device. The party that buys the product from the first customer can either be a third party or the manufacturer itself.

Since the price is reduced in this transaction, it ensures that product affordability is enhanced. Several factors are driving the industry's CAGR but at the same time, it struggles with certain limitations and challenges that need to be overcome for the market to reach its true potential.

Browse the full “Refurbished and Used Mobile Phones Market Size, Share, Growth Analysis Report By Price Range (Premium, Mid-Priced, and Low-Priced), By Type (Used Phones and Refurbished Phones), By Sales Channel (Retails Stores and Online Sales), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030” report at https://www.fnfresearch.com/refurbished-and-used-mobile-phones-market

The global refurbished and used mobile phones market is projected to grow owing to the increasing adoption of smartphones in everyday life. With digitization and growing awareness, conventional phones have become redundant and are being rapidly replaced by new-age smart devices including phones. The popularity of smartphones is driven by multiple factors including better communication like video messages, enhanced internet access, and speed allowing consumers to receive quick and timely responses to any query.

Smartphones offer higher convenience in terms of communication and accessibility to information. They are a great source of entertainment while also assisting in improving overall productivity. Furthermore, the industry is expected to benefit from the growing concerns of sustainability in the electronic industry as it is a significant contributor to rapidly growing electronic waste which lacks an effective disposable system. The industry works toward improved industrial sustainability as it allows the same devices to be circulated in the commercial market without compromising on performance.

However, the limitations in the global industry are considerable and include aspects like competition with new devices since there is growing availability of brand-new and affordable products in the market. Consumers may prefer new products over used or refurbished items if the affordability factor is the only reason for making a choice.

Moreover, the insured is currently struggling with rising cases of fraud in both retail and online sales segments. This is mainly due to the lack of regulatory policies in place that works in the favor of the consumer’s interest. Furthermore, since every device is unique and significantly different from the rest, the issues in these devices may be different issues that lead to the sale of poor-quality products.

The emerging markets may provide excellent growth opportunities whereas quality control could pose a challenge during further expansion.

Segmental Analysis:

The global refurbished and used mobiles phone market is segmented based on price range, type, sales channel, and region

Based on price range, the global market is segmented into premium, mid-priced, and low-priced.

• The market generated significant revenue in the mid-priced segment in 2020 since these devices are most popular in terms of used phones
• They are generally priced between USD 100 to USD 400 and since it offers an accurate balance between performance and affordability, the segment generates the highest revenue for the industry
• In addition to this, low-priced products that range below USD 100 are also significant contributors since they are the best options for people looking for a smartphone with basic features
• Premium products are priced over USD 400 and although it has a significant growth rate, it is relatively less than the other two segments

Based on type, the global market divisions are used phones and refurbished phones.

• Used phones are devices that were previously owned by a different customer and have not undergone the refurbishing process. With these phones, the chances of minor cosmetic damages, fault in operational parts, and some amount of wear and tear are common
• Refurbished phones are also pre-owned devices but the difference is that the seller generally ensures that any defect or damage has been repaired before the product is resold. This includes processes involving the removal of damaged parts, software updates, and other repairs
• Refurbished phones are higher priced than used phones but lesser priced than brand-new phones
• For instance, the refurbished iPhone 12, 256 GB variant was listed between USD 850 and USD 900 on websites like Black Market and Gazelle

Based on the sales channel, the global market is divided into retail stores and online sales.

Regional Analysis:

Asia-Pacific is anticipated to lead the global refurbished and used mobile phones market driven by the growing demand for smartphones in India, China, and Japan. The former two are two of the most populated countries that are registering growth in middle-income families. Furthermore, the cultural impact of western countries in this region concerning brand preference is increasing rapidly.

For instance, as reported by Statista, more than 15% of Apple's smartphone market was from China in 2020. The country is one of the company’s crucial markets. However, not everybody can afford new phones and they prefer to opt for used phones that are less priced. Other critical factors for regional growth are a strong e-commerce presence, growing awareness, and acceptance, along with seller availability.

Report Scope

Competitive Analysis:

The global refurbished and used mobile phones market is led by players like Alegre Compra, Apple Inc., Techmartlive Solutions Pvt. Ltd., Samsung Electronics Co. Ltd., eBay Inc., Brightstar Corporation, Togofogo.com, Gazelle Inc., Sprint Corporation, SellCell.com, Reebelo Pte Ltd., Verizon Communications Inc., Amazon.com Inc., JemJem.com, AT&T Inc., and others.

Recent Developments:

• In November 2022, eBay, an important player in the market, focussed on promoting refurbished or second-hand products during the Black Friday sale. With this, the platform intended to offer different shopping experiences to its customers
• In January 2020, Walmart announced the launch of a pilot program dedicated to the selling of refurbished iPads, iPhones, and other Apple products
• In September 2022, fairphone announced the sale of refurbished phones called the fairphone 3, New Life Edition

The global refurbished and used mobiles phone market is segmented as follows:

By Price Range

• Premium
• Mid-Priced
• Low-Priced

By Type

• Used Phones
• Refurbished Phones

By Sales Channel

• Retails Stores
• Online Sales

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

About Us:

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Contact Us:

Facts & Factors
A - 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1-347-989-3985
Email: [email protected]
Web: https://www.fnfresearch.com