Used & Refurbished Smartphone Market by Type, Pricing Range, Sales Channel

Description

List of Tables

[181 Pages Report] The Used & Refurbished Smartphone Market size was estimated at USD 30.44 billion in 2023 and expected to reach USD 32.43 billion in 2024, at a CAGR 6.83% to reach USD 48.35 billion by 2030.

Used smartphones are devices that have previously been owned and operated by an individual or organization. These devices have not undergone any professional refurbishing process by the manufacturer or a certified third party. Refurbished smartphones, on the other hand, are pre-owned devices that have been thoroughly inspected, repaired, and restored to full working condition by the manufacturer or a reputable third party. This process often includes replacing faulty components, software updates, and thoroughly cleaning. Rising internet connectivity, demand for low-priced smartphones, and the growing popularity of e-commerce platforms increase the adoption of used and refurbished smartphones. However, technical issues and performance concerns regarding used and refurbished smartphones impede market growth. Nevertheless, expanding customer service offerings to include extensive warranties and support services may create potential opportunities for the growth of the used and refurbished smartphone market.

KEY MARKET STATISTICS
Base Year [2023]	USD 30.44 billion
Estimated Year [2024]	USD 32.43 billion
Forecast Year [2030]	USD 48.35 billion
CAGR (%)	6.83%

Type: Burgeoning preference for company-owned phones owing to their extended warranties

Company-owned refurbished smartphones have been owned, used, and refurbished by companies. Company-owned devices have undergone a rigorous testing process and are upgraded with the latest software before resale. Company-owned phones may come with an extended warranty, offering customer satisfaction during purchasing. Consumer-owned refurbished smartphones have been owned, used, and refurbished by consumers. Unlike company-owned phones, these devices may not have gone through a thorough testing process or been made available with an extended warranty. Consumer-owned used phones do not provide guarantees regarding their condition or performance level. Consumer-owned phones may cost significantly less than their company-owned counterparts due to the lack of certification or specialized services available at the time of purchase. Buybacks involve companies buying back a used smartphone from the consumer at a discounted price. The phone can then be resold as refurbished or recycled for parts. Buyback programs offer competitive prices and convenient services, such as free shipping labels, making it easy for customers to sell their old devices quickly and affordably. In addition, buyback programs can provide companies with valuable knowledge about the market and customer preferences. Trade-ins involve exchanging an older device for a newer model at a reduced cost. Retailers or device manufacturers offer these options, providing an ideal alternative for customers who want to upgrade their phones without investing in new devices. Trade-ins allow companies to build customer relationships while providing updated technology that might not otherwise be available.

Pricing Range: Increasing adoption of mid-priced used and refurbished smartphones

Used and refurbished smartphones in the low-priced range are normally older models that offer basic features. These phones are ideal for those on a budget and in need of basic features such as call and text functions, simple web browsing, and app access. The mid-priced range offers more advanced features than those in the low-priced range. It includes better processors, bigger screens, more RAM, and higher-resolution cameras, among several other features. They balance price and performance for those looking for a good deal on a reliable device. Consumers are more attracted to premium refurbished smartphones due to their availability through online and e-commerce platforms, providing discounts and great product reach.

Sales Channel: Evolving online or e-commerce channels for used and refurbished smartphones

The offline sales channel for used and refurbished smartphones encompasses physical retail locations such as specialty electronics stores, big-box retailers, and smaller independent shops. These venues allow consumers to inspect the devices physically, evaluate their condition, and often receive immediate assistance and support. Retail personnel can offer hands-on demonstrations and advice, enhancing the buyers' confidence in their purchase decisions. The online sales channel, or e-commerce, represents a significant and growing platform for purchasing used and refurbished smartphones. This channel includes online marketplaces, dedicated electronics e-commerce websites, and the digital storefronts of traditional brick-and-mortar retailers. The convenience and broad selection of devices make online shopping an attractive option for consumers. E-commerce platforms often feature user reviews, detailed product descriptions, and high-quality images, providing buyers with valuable information.

Regional Insights

In the Americas, the demand for used and refurbished smartphones is propelled by consumers looking for cost-effective alternatives to the latest phone models. In addition, a robust trade-in system supported by major carriers and retailers and recent regional investments focuses on expanding refurbishment facilities, encouraging consumers to opt for refurbished units. Europe has a relatively mature market driven by a robust regulatory environment favoring sustainability and consumer rights. Environmentally conscious consumers and stringent EU regulations encourage the adoption of used and refurbished smartphones. On the other hand, the Middle East and Africa showcase a preference for high-end refurbished smartphones due to the presence of affluent consumers, while Africa's demand is driven by economic necessity and the need for affordable connectivity solutions. Moreover, quality and authenticity are key considerations for Middle Eastern customers, which has led to the development of certified pre-owned programs by various retailers. The Asia Pacific region exhibits high growth potential with a massive consumer base seeking affordability and value. Furthermore, investment in the region aims at improving refurbishment quality and expanding the online marketplace for refurbished devices.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Used & Refurbished Smartphone Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Used & Refurbished Smartphone Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Used & Refurbished Smartphone Market, highlighting leading vendors and their innovative profiles. These include Alibaba Group Holding Limited, Amazon.com, Inc., Apple Inc., AT&T Inc., Back Market, Best Buy Trade-In, BuySPRY / YRS LLC, Cashify, Chinarephone.com, Decluttr, Dreven Holdings Group Inc., eBay Inc., Gazelle, hyperXchange, ISELLMAC.COM, Mobex, Mobile Monster, One97 Communications Ltd., Qarmatek Services Private Ltd., Quick Mobile LLP, Quikr India Pvt. Ltd., Reboxed Ltd.,, Recell Cellular, Samsung Electronics Co., Ltd., Smart Cellular, Swappa, LLC, The Whiz Cells by TM Capital LLC, and Verizon Communications, Inc..

Market Segmentation & Coverage

This research report categorizes the Used & Refurbished Smartphone Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Refurbished Phones
  - Company-Owned
  - Consumer-Owned

Used Phones
- Buybacks
- Trade-Ins

Pricing Range
- Low-Priced
- Mid-Priced
- Premium

Sales Channel
- Offline
- Online or E-Commerce

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Used & Refurbished Smartphone Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Used & Refurbished Smartphone Market?

3. What are the technology trends and regulatory frameworks in the Used & Refurbished Smartphone Market?

4. What is the market share of the leading vendors in the Used & Refurbished Smartphone Market?

5. Which modes and strategic moves are suitable for entering the Used & Refurbished Smartphone Market?

Product Code: MRR-957C47F93B51

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising internet connectivity and demand for low-priced smartphones
  - 5.1.1.2. Growing popularity of e-commerce platforms for used and refurbished smartphones
  - 5.1.1.3. Adoption of used & repaired phones to reduce e-waste
- 5.1.2. Restraints
  - 5.1.2.1. Over-pricing issues and fear of fake products
- 5.1.3. Opportunities
  - 5.1.3.1. Technological advancements in smartphone feature
  - 5.1.3.2. Emergence of 5G network worldwide
- 5.1.4. Challenges
  - 5.1.4.1. Technical issues and performance concerns of used smartphones
5.2. Market Segmentation Analysis
- 5.2.1. Type: Burgeoning preference for company-owned phones owing to their extended warranties
- 5.2.2. Pricing Range: Increasing adoption of mid-priced used and refurbished smartphones
- 5.2.3. Sales Channel: Evolving online or e-commerce channels for used and refurbished smartphones
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Used & Refurbished Smartphone Market, by Type

6.1. Introduction
6.2. Refurbished Phones
6.3. Used Phones

7. Used & Refurbished Smartphone Market, by Pricing Range

7.1. Introduction
7.2. Low-Priced
7.3. Mid-Priced
7.4. Premium

8. Used & Refurbished Smartphone Market, by Sales Channel

8.1. Introduction
8.2. Offline
8.3. Online or E-Commerce

9. Americas Used & Refurbished Smartphone Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Used & Refurbished Smartphone Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Used & Refurbished Smartphone Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. ReFit Global Announces A New Marketplace For Pre-Owned Smartphones To Offer Premium Refurbished Phones At Affordable Prices
- 12.3.2. Nokia Plans To Start Selling Refurbished Smartphones From H2 2023
- 12.3.3. Cashify To Introduce 'Try And Buy Option'; Consumers Can Book A Trial Before Buying Refurbished Smartphone
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio