Malaysia Used Smartphone Market is expected to grow at a CAGR of 14.9% between of 2022F-2026F: Ken Research

1. 88.4% of the population uses smartphone in 2021, and people belonging to the age group of 20-34 years constitute the highest number of smartphone users.

Affordable devices and packages, subsidies, aggressive competitions, and promotions among service providers were observed to be the driving factors for this growth. Growing use and reliance on smartphone-based applications may also contribute to the increase. On the other hand, feature phone users were on a declining trend which stood at only 7.5% in 2021. The usage of smartphones among all age groups reached more than 80% in 2021. It was observed that smartphone usage is the highest amongst the respondents under the age of 35, and the trend is declining in the older age groups. On the other hand, feature phones are mostly used by individuals aged 65 years old and above.

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2. The Malaysia Used Smartphone Market has grown in the last five years.

Affordable devices and packages, subsidies, aggressive competitions, and promotions among service providers were observed to be the driving factors for this growth. Growing use and reliance on smartphone-based applications may also contribute to the increase. On the other hand, feature phone users were on a declining trend which stood at only 7.5% in 2021. The usage of smartphones among all age groups reached more than 80% in 2021. It was observed that smartphone usage is the highest amongst the respondents under the age of 35, and the trend is declining in the older age groups. On the other hand, feature phones are mostly used by individuals aged 65 years old and above.

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3. Offline dealers dominate the Malaysia Used Smartphone Market

Offline dealers of used smartphone market have 50.0% share of the market as people prefer being able to check and verify the condition of the used smartphone before buying it. Classified Sellers of Used Smartphone like COMPASIA, Lazada, Shopee, etc., constitute the second largest market share. In 2021, offline marketplaces dominate the market. Marketing through online marketplaces is popular among all types of online and classified businesses. Companies who have a strong presence offline, carry out their marketing through social media platforms or their own websites.

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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.