Global Refurbished and Used Mobile Phones Market Expected to Reach USD 131.44 Billion by 2029

Refurbished and Used Mobile Phones Market Overview:

The global market for refurbished and used mobile phones is witnessing robust growth, driven by the increasing demand for cost-effective alternatives in the smartphone market. According to the latest market report, the Global Refurbished and Used Mobile Phones Market reached a valuation of USD 57.45 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 10.9% during the forecast period, reaching an estimated value of USD 131.44 billion by 2029.

The proliferation of smartphones as a necessity, combined with the financial constraints of billions worldwide, has fuelled the demand for refurbished and used mobile phones. These offerings provide an eco-friendly solution to reduce electronic waste while catering to consumers' desire for quality devices at affordable prices. According to the International Data Corporation (IDC), shipments of refurbished and used mobile phones surged to 282.6 million units in 2022, marking an impressive 11.5% increase from the previous year's 253.4 million units.

Key market drivers include the soaring costs of flagship smartphones, pushing consumers toward opting for refurbished models from reputable brands like Apple and Samsung. The rising prevalence of e-commerce platforms further accelerates the demand for the market.

Major players and resellers in the market offer refurbished smartphones that have been restored and certified for quality after being returned by customers due to various reasons. These devices are repaired, renewed, and presented in 'like new' conditions. Notably, Apple maintains its leadership in the market, with iPhones accounting for approximately 52% of the market share.

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Refurbished and Used Mobile Phones Report Scope and Research Methodology

The report offers an in-depth analysis of the Global Refurbished and Used Mobile Phones Market, examining key market trends, growth drivers, restraints, and regional dynamics. The research methodology involves a comprehensive data collection process and rigorous analysis to provide accurate market insights. To understand the detailed scope and methodology of the report, interested parties can request a free sample report.

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What are Refurbished and Used Mobile Phones Dynamics?

The rise in consumer dependence on smartphones globally is a significant driver for the market's growth. As smartphones become indispensable in daily life, more consumers seek to upgrade their devices without breaking the bank. Refurbished and used mobile phones offer a viable solution for these consumers, providing high-quality devices at reduced prices.

Easy EMI options provided by companies for purchasing refurbished and used mobile phones also play a pivotal role in driving market adoption. These options enhance affordability, particularly in emerging markets characterized by price sensitivity.

Online platforms are expanding the market's penetration by offering convenient and cost-effective avenues for purchasing refurbished smartphones. These platforms provide access to a wider range of devices and brands, further stimulating demand.

While the market exhibits promising growth, concerns about device quality, limited availability, and security risks may pose challenges. Customers might hesitate to purchase refurbished or used devices due to uncertainties about their condition and potential security breaches.

Refurbished and Used Mobile Phones Market Regional Insights:

North America is poised to be a significant contributor to market revenue, driven by high smartphone adoption rates, environmental consciousness, and the appeal of affordable alternatives. Robust e-commerce infrastructure facilitates the purchase of refurbished and used mobile phones in the region.

The Asia-Pacific region is emerging as a key growth market, propelled by a large population, increasing smartphone adoption, and local players offering competitive pricing and personalized services.

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What is Refurbished and Used Mobile Phones Segmentation?

by Type

1. Refurbished Phone
2. Used Phone

by Price Range

1. Low Price (Below $200)
2. Mid-Price ($200 to $500)
3. Premium (Above $500)

by Application

1. Individual
2. Businesses

Who are Refurbished and Used Mobile Phones Key Players?

1. Amazon.com, Inc.
2. Apple, Inc.
3. AT&T, Inc.
4. BestBuy.com, LLC
5. Hutchison 3G UK Limited
6. Huawei
7. Yaantra
8. eBay Inc.
9. Brightstar Corporation
10. Togofogo.com
11. Gazelle Inc.
12. Paytm (One97 Communications)
13. Back Market
14. FoneGiant.com
15. Flipkart Internet Private Limited (Walmart Inc.)
16. Reebelo Pte Ltd.
17. Sprint Corporation
18. SellCell.com
19. Kempf Enterprises Limited
20. Lenovo Group Ltd.
21. Nippon Telephone, Inc.
22. Reboot System India Pvt. Ltd.
23. Redeem UK Ltd.
24. Samsung Electronics Co., Ltd.
25. Synergy Telecom, Inc.
26. Verizon Communications, Inc.

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Table of content for the Refurbished and Used Mobile Phones includes:

1. Global Refurbished and Used Mobile Phones: Research Methodology

2. Global Refurbished and Used Mobile Phones: Executive Summary

• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry

3. Global Refurbished and Used Mobile Phones: Competitive Analysis

• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact

4. Global Refurbished and Used Mobile Phones Segmentation

• Global Market, by Application (2022-2029)

5. Regional Refurbished and Used Mobile Phones(2022-2029)

• Global Market, by Application (2022-2029)
• Regional Market, by Country (2022-2029)

6. Company Profile: Key players

• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments

Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2022)
• Past Pricing and price curve by region (2018 to 2022)
• Market Size, Share, Size & Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by Product
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

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