Global Refurbished And Used Mobile Phones Market a strong growth rate of 9.8% (CAGR) from 2018 to 2026 to surpass US$ 44,100 Mn by the end of 2026 | Electronics and Smart Devices Update : Italy, the U.K., France, Germany, and the U.S.

Press Release – 08 Jan 2019
Research and Development News --
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Latest Update "Global Market Study on Refurbished and Used Mobile Phones: Herculean Growth in e-Waste to Make Used and Refurbished Phones a Prominent Choice among Consumers" with Industries Survey | Global Current Growth and Future.
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“Developing nations are expected to exhibit high demand for refurbished and used mobile phones”

Emerging economies such as Philippines, Thailand, Mexico, Russia, India, Brazil, and Argentina are turning out to be leading markets for used and refurbished mobile phones. Consumers in these regions are price sensitive and usually prefer purchasing low-cost products, especially when it comes to buying electronics. The market for used and refurbished mobile phones is a highly unorganized one and companies are offering refurbished and used mobile phones at inexpensive rates. The growing customer dependence on gadgets in developing regions has increased the demand for refurbished and used mobile phones in these regions along with others.
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In developed countries such as Italy, the U.K., France, Germany, and the U.S., a majority of the consumer base is tech-savvy and prefers advanced and high-end technological equipment. Owing to a short upgrade cycle of several mobile phones, the customers in these countries generally are not willing to spend much on new mobile phones.

“Urbanization in emerging economies is impelling manufacturers to enter into untapped market”

The burgeoning urbanization and infrastructural development in developing countries such as Indonesia, Philippines, China, and India, among others are attracting numerous mobile manufacturers. Mobile phone manufacturers in these regions are constantly focusing and investing on research and development and are producing high-end mobile devices to meet the growing technological demands of consumers. Additionally, the shift of the economic power to East from West is bolstering urbanization in these countries. This is prompting high demand for refurbished and used mobile phones.
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“Global Information & Communication Technologies (ICT) Sector Outlook along with a Synopsis of the Global Refurbished and Used Mobile Phones Market”

The global digital ecosystem has been continuously evolving over the last few years. The worldwide ICT sector has witnessed some key disruptions of late and governments of various economies are devising and implementing smart and inclusive regulations to govern sector penetration and facilitate technology connectivity to all parts of the world. Even as the world of technology prepares for a massive revolution with unimaginable advancements powered by machine intelligence, here are some of the key drifts presently trending the global ICT sector:

- Mobile as the new internet accessibility engine: Currently, about three-fourths of internet usage is through mobile phones, with an increasing usage witnessed in low-income and middle-income countries. Yet, over half the world’s population is bereft of mobile broadband internet services. Mobile data providers have accepted this challenge and are targeting niche, unpenetrated markets with high-speed connectivity offerings to increase their customer base.

- Cloud computing to shoot beyond the sky: Cloud is a potent catalyst in all technological advances of the 21st Cloud is transforming the way enterprises handle big data, and ICT companies are looking to deploy new mechanisms and tools to “speak to data” and acquire the relevant information capable of impacting cross sector business growth.

- Swifter integration of networks and technologies: ICT will continue to disrupt industries and with an increasing shift in focus towards cross-functional platforms that integrate networks, devices, and technologies, a structured integration of communication applications and protocols is fueling new service offerings.

- An app-led technology universe: If mobile is at the heart of the ICT revolution, mobile apps are the arteries that pump in the necessary innovation for survival. The rise of start-ups offering a plethora of mobile apps is set to revolutionize the entire paradigm of the global ICT sector.

- Cyber readiness is the norm: A rapid digitalization has also upped the risk of cybercrimes and cyber-attacks. Mobile companies are working to build secure ICT servers and networks and cyber readiness is of paramount importance today while introducing new products and services in the global market.

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