Smartphone Aftermarket To Be Dominated by Keyplayers: Lenovo group Limited, HTC Corporation, Motorola Inc., Micromax Informatics Ltd., Nokia Corporation, Xiaomi Corporation, Apple Inc., Huawei Technologies Co., Ltd., Vivo Communication Technology Co. Ltd.

The increase in usage of smartphones has created a booming smartphone repair industry. Rising popularity of fragile smartphones that comes with larger display screens, has boosted demand for aftermarket services. As dependence on smartphones increases, the market for repair services is expected to grow at a faster rate.

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Factors driving growth of smartphone aftermarket
Increasing adoption of repairing services and refurbished smartphones are major factors that are expected to drive the growth of smartphone aftermarket over the forecast period. Demand for smartphone repair services is expected to grow owing to fragile smartphone screens, short battery life, and other parts that make smartphones more susceptible to repair.

Refurbish mobile phones is also expected to drive the growth of smartphone aftermarket. These phones usually have minor defects and sold at lower prices. Several wholesalers are selling their electronic products at low cost, with after sale services and decent warranty periods.

However, consumers tend to replace cellphones rather than repairing their mobile devices due to rapid advancement in technology and falling prices of smartphones. Falling prices have supported demand for new smartphones. An expected rise in consumer income over the next five years will encourage consumers to replace their smartphones rather than repair it.

Regional analysis of the smartphones aftermarket
Asia-Pacific is expected to account for the largest market share over the forecast period, owing to presence of larger customer base of smartphones in the region. Further, increasing adoption of e-commerce sites such as amazon is expected to have positive impact on the growth of the smartphone market and subsequently smartphone aftermarket in the region.

Key players in the smartphone aftermarket

Key players operating in smartphone aftermarket include Lenovo group Limited, HTC Corporation, Motorola Inc., Micromax Informatics Ltd., Nokia Corporation, Xiaomi Corporation, Apple Inc., Huawei Technologies Co., Ltd., Vivo Communication Technology Co. Ltd., Sony Corporation, Google, Blackberry, One plus Asustek Computer Inc., Lenovo Group Limited, and OPPO Mobile Telecommunications Corp., Ltd,. among others.

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Segmentation of smartphone aftermarket
Smartphones market is segmented on the basis of type, channel, application, and region.

o On the basis of type, the market is segmented into:
o Under warranty
o Outside warranty Period

o On the basis of sales channel, the market is segmented into:
o Online
o Offline

o On the basis of application, the market is segmented into:
o Repair
o New Phone

o  On the basis of region, the market is segmented into:
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East
o Africa

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