USD 64.30 billion
Global Refurbished and Used Mobile Phones Market Size, Share, Growth Analysis, By Type(Refurbished Phones and Used Phones), By Price Range(Low Price, Mid Price), By Application(Individual and Businesses) - Industry Forecast 2024-2031
Report ID:
SQMIG45H2066 |
Region:
Global |
Published Date: April, 2024
Pages:
199
|
Tables:
86 |
Figures:
71
Global Refurbished and Used Mobile Phones Market Insights
Global Refurbished and Used Mobile Phones Market size was valued at USD 64.30 billion in 2022, USD 71.50 billion in 2023 and is projected to grow USD 150.33 billion by 2031, growing at a CAGR of 11.2% in the forecast period (2024-2031).
The industry is expanding due to rising consumer reliance on smartphones worldwide and an increase in the number of businesses offering EMI options for phones. The advantages of cost effectiveness linked to reconditioned and secondhand mobile phones also contribute to the market's expansion. Nonetheless, the market's expansion is constrained by the lack of premium models and restrictions on the warranty duration of reconditioned and used smartphones. One of the main factors driving the market for refurbished smartphones has been an increase in the cost of new phones with little to no feature enhancements. On the other hand, it is projected that throughout the projection period, there will be plenty of potential for market expansion due to the growing adoption of e-commerce platforms by both buyers and sellers.
A pre-owned phone that has been returned and put in good working order so it may be sold again is called a refurbished phone. Not every phone that is labelled as refurbished is defective. Refurbished phones are defined by certain networks and retailers as devices that users or consumers returned during the 30-day cooling-off period after signing up for a contract. Usually, the vendor tests to see if the battery charges and to make sure the buttons and cameras function. Due to their cheaper costs and the continuous usefulness of older mobile phones, more individuals and organizations are investing in refurbished and used phones. Along with confirming the phone's Wi-Fi, 4G, and 5G connectivity, the vendor will also check the phone's audio quality and screen responsiveness.
Market snapshot - (2024-2031)
Global Market Size
Largest Segment
Refurbished Phones
Fastest Growth
Used Phones
Growth Rate
11.2% CAGR
Global Refurbished and Used Mobile Phones Market ($ Bn)
Country Share for North America (%)
Global Refurbished and Used Mobile Phones Market By Type ($ Bn)
Global Refurbished and Used Mobile Phones Market By Type (%)
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Global Refurbished and Used Mobile Phones Market Segmental Analysis
The global refurbished and used mobile phones market is segmented based on type, price range, application and regional type. In terms of type, the market is divided into refurbished phones and used phones. Based on price range, the market is trifurcated into low price, mid-price and premium. In terms of application, the market is divided into individuals and businesses. Based on region, the market is segmented into North America, Europe, Asia Pacific, Central & South America and Middle East & Africa. The market expansion has been driven by the type of segment, which includes refurbished and used mobile phones.
Analysis by Type
As per categorization by type, the market is classified into refurbished phones and used phones. Among these, refurbished phones earned the largest share and continue to dominate the market. The appeal of affordable substitutes for new models and rising consumer awareness of sustainability are fueling the robust expansion of the global market for reconditioned and used mobile phones. The quality of reconditioned phones has greatly increased due to technological developments, and they are now almost identical to brand-new phones. Concerns about the environment and the goal of minimizing electronic waste support this trend. Global consumer confidence in these items is growing as manufacturers and third-party vendors improve their refurbishment procedures and warranties.
Due to the rising cost of new smartphones and consumer need for more cheap options, the used phone category is expected to develop at the quickest rate in the global refurbished and used mobile phones market. Improved refurbishment methods and more stringent quality control protocols are supporting consumer confidence and acceptance of used electronics as feasible, dependable choices. Furthermore, the trend towards sustainable options is driven by consumers' increased environmental consciousness, which makes secondhand phones a desirable alternative. This tendency is further supported by the increase of warranties and trade-in programmes, which indicate significant market growth.
Analysis by Application
Innovation in the global market for used and refurbished mobile phones is mostly concentrated on improving the refurbishment procedures to increase the lifespan of individual phones. In line with new device standards, sophisticated diagnostic instruments and software are being used more frequently to guarantee peak performance and dependability. Consumer behavior in this sector is also changing, as more people choose refurbished phones over new versions since they are more affordable and eco-friendlier. All these things work together to propel the industry and increase the allure of reconditioned electronics.
Due to financial constraints and the requirement for cost-effectiveness in corporate budgets, the business phone segment of the global refurbished and used mobile phone market is expected to grow at the fastest rate. Refurbished phones are becoming more and more valuable for businesses to equip their employees with, since they are less expensive and offer comparable functionality to new phones. Additionally, they are becoming a sensible option for business use due to the availability of dependable, high-quality reconditioned devices with suitable warranties. These elements, along with corporate environmental responsibility, are driving this market segment forward at a substantial rate.
Global Refurbished and Used Mobile Phones Market By Type (%), 2022 (%)
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Global Refurbished and Used Mobile Phones Market Regional Insights
North America is projected to hold the dominant position for the global refurbished and used mobile phones market. The growing spectrum of 5G devices and the increasing advancements in smartphone capabilities have led to a surge in the North American market for refurbished cellphones. The area has a history of manufacturing innovative smartphones, especially with the help of businesses like Apple, which have changed the global smartphone market's competitive environment. With the second-largest market share is the reconditioned smartphone market in Europe. There is a growing market for reconditioned and secondhand mobile phones due to several causes, such as increased interest in technology and a high demand for high-end, complex devices. In addition, the UK's reconditioned smartphone market was expanding at the quickest rate in the European Union, while Germany's reconditioned smartphone industry maintained the biggest market share.
Asia-Pacific is anticipated to grow at the fastest rate during the forecast period. A few factors driving the market's growth in this region are the proliferation of telecommunications infrastructure, the escalating cost of smartphones, and the lack of novel features in Android smartphones. In addition, the refurbished and used mobile phones market in China had the most market share, while the market in India had the highest rate of growth in the Asia-Pacific area. Latin America and the Middle East and Africa are showing signs of strong growth in the global market for refurbished and used mobile phones. Among these countries, South Africa and Brazil stand out as having the quickest rates of growth. The rise in popularity of smartphones, financial limitations, and consumers' growing preference for eco-friendly options are the main drivers of this trend.
Global Refurbished and Used Mobile Phones Market By Geography, (2024-2031)
- Largest
- Fastest
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Global Refurbished and Used Mobile Phones Market Dynamics
Drivers
Affordable Options and Access to Latest Technology
- The growing market for reconditioned and used mobile phones worldwide provides consumers looking for a reliable smartphone option without breaking the bank with a reasonably priced alternative. These devices give users access to state-of-the-art technology at a far lower cost than if they were to buy a brand-new product. Choosing used or refurbished cell phones allows customers to have access to cutting-edge features and capabilities at a much less cost.
Wide Range of Options in Market
- The market offers a wide range of options for reconditioned and previously owned smartphones, including models and brands that are well-known. Customers are guaranteed a wide range of possibilities due to this diversity, which enables them to choose gadgets that are catered to their individual needs and budgets. People can freely explore a wide range of characteristics, pricing points, and circumstances in this market.
Restraints
Poor Quality Check Concerns
- Customers' misgivings about the reliability and calibre of these products prevent the market from growing due to trust and quality issues. Building trust and ensuring the quality of reconditioned goods are essential to building consumer confidence. Assuaging these concerns is made possible by actions like refurbished accreditation, warranty scheme implementation, and strict quality control standards.
Limited Support and Warranty for Refurbished Phones
- Refurbished smartphones sometimes have shorter guarantee durations than new smartphones, sometimes with as little as 30 to 90 days. New smartphones normally come with a manufacturer's warranty of one year or more. Potential customers may be discouraged by this restricted warranty as they may view it as a sign of decreased dependability and possible future costs for repairs that are not covered by the warranty.
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Global Refurbished and Used Mobile Phones Market Competitive Landscape
Major worldwide firms such as Apple, Samsung, and Amazon play crucial roles in the increasingly dynamic competitive landscape of the global refurbished and used mobile phone market. These businesses attract customers searching for high-quality refurbished equipment by utilising their vast distribution networks and well-established brand names. There are also many smaller players in the industry, such as Gazelle and Back industry, that concentrate on offering products that are certified and warrantied. The combination of major and specialist providers creates a competitive atmosphere that propels advancements in customer service and refurbishment quality.
Top Player’s Company Profiles
- Verizon Communications (US)
- eBay (US)
- Nippon Telephone (Japan)
- Huawei Technologies Co., Ltd. (China)
- Paytm (India)
- Samsung (South Korea)
- Apple (US)
- Cashify (India)
- Verizon Communications, Inc. (US)
- Amazon.com, Inc. (US)
- Green Dust (India)
- Walmart (US)
- AT&T (US)
- Lenovo (China)
- Huawei Technologies Co., Ltd. (China)
Recent Developments
- In November 2023, Reboxed revealed that ACF Investors led the seed funding round, which totaled GBP 1.6 million (USD 2.03 million). Reboxed is a platform for commerce that links companies and consumers for a more efficient and environmentally friendly method of purchasing and selling technology. With an emphasis on quality, consistency, and a truly circular approach, it offers premium refurbished and pre-owned devices—such as phones, tablets, laptops, and smartwatches—through a "like new" experience.
- In September 2023, Back Market has launched a daring international campaign called "Let Them Buy New," which challenges Big Tech's fixation with generating demand for new items. To question consumer bias towards new products, challenge the conventional wisdom of buying new technology every time, and demonstrate that reconditioned devices are a superior, more cost-effective, and environmentally responsible option, the campaign parodies Big Tech's marketing ploys.
- In February 2024, Magyar Telekom, a division of Deutsche Telekom, is extending its cooperation with Recommerce Group to broaden the range of used smartphones it offers. Smartphones that are reconditioned and used are becoming more popular despite supply issues. Magyar Telekom wants to offer high-quality, reasonably priced gadgets that support environmental goals. IDC analysts predict that shipments of old smartphones will expand by 9.5% in 2023, even in the face of limited inventories and slower refresh rates.
Global Refurbished and Used Mobile Phones Key Market Trends
- Emerging Trends Shaping Refurbished Market: Refurbished smartphone sales are seeing several noteworthy trends that are setting the standard for the sector and influencing consumer behavior. Refurbished cellphones look to be a wise and affordable alternative to new smartphones, which is one evident trend. Global market trends for refurbished cellphones are also influenced by environmental perception. Global awareness of electronic waste and its impact on the environment has led to a growing concern among customers over sustainable practices.
- Rising Consumer Awareness and Online Sales: Customers are demanding assurances that refurbished phones go through extensive testing and refurbishment processes as they become more conscious of the conditions around these gadgets. Online sales and e-commerce regulations are also taking off in the industry as the main avenues for reconditioned smartphone connections. Online platforms' growing reputation can be attributed to the proximity of online buying combined with the availability of a wide range of reconditioned simulators.
Global Refurbished and Used Mobile Phones Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global refurbished and used mobile phone market offers affordable substitutes that provide users access to cutting-edge technology without having to pay the exorbitant prices of brand-new gadgets. There are many different possibilities available in this market, so customers can choose cellphones that suit their wants and budgets. Though they can be reduced by initiatives like refurbished accreditation, guarantee programmes, and stringent quality controls to foster customer confidence, concerns over the dependability and quality of refurbished goods impede market expansion. Furthermore, potential customers may be discouraged by the refurbished smartphones' shorter warranty durations than those of new ones due to the heightened perception of lower reliability and higher repair expenses.
Big international brands like Apple, Samsung, and Amazon use their extensive distribution networks and solid brand names to draw in buyers looking for high-quality refurbished phones, which has a substantial impact on the refurbished mobile phone market. Smaller niche companies like Gazelle and Back sector, who concentrate on offering certified and warrantied products, are also a part of this sector. As consumer preferences and worldwide market trends are shaped by increased environmental consciousness and worries over electronic waste, refurbished smartphones are becoming a popular and affordable alternative to new ones. Furthermore, convenience and variety that e-commerce offers, buyers are becoming more conscious of product conditions and demanding that refurbished phones go through a comprehensive testing and refurbishing process. As a result, internet sales have emerged as the principal channel for these transactions.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 64.30 billion |
| Market size value in 2031 | USD 150.33 billion |
| Growth Rate | 11.2% |
| Base year | 2023 |
| Forecast period | (2024-2031) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Refurbished and Used Mobile Phones Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Refurbished and Used Mobile Phones Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Refurbished and Used Mobile Phones Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Refurbished and Used Mobile Phones Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Refurbished and Used Mobile Phones Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Refurbished and Used Mobile Phones Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Refurbished and Used Mobile Phones Market Report Snapshots
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