Ổ cứng Seagate và Hitachi là những loại ổ đĩa có khả năng hỏng cao nhất
The Used and Refurbished Smartphone Market is anticipated
Hyderabad, March 10, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Used and Refurbished Smartphone Market Share-2023-2028”, the used and refurbished market is expected to register a CAGR of 10.23%. Premium phones have witnessed higher prices, resulting in consumers keeping their devices for long periods of time. This upgrade cost increase has been a major factor contributing to the growth of the market. The increased demand has also raised the average selling price of previously owned units.
The mobile device industry also had to confront several problems, such as supply issues and reduced customer demand due to high inflation rates. In the coming decade, smartphones are expected to continue acting as a main hub until they are replaced by ubiquitous voice assistants, wearable screens, and ambient interfaces, thanks to emerging trends such as 5G and AI cloud computing.
Used and Refurbished Smartphone Market Analysis - What is driving the growth of the used and refurbished smartphone market?
Supply chain concerns and chip shortages are also helping to propel the refurbishing sector. Businesses are turning to refurbished electronics suppliers to meet this demand, which is projected to drive the refurbished electronics industry, particularly smartphones.
- The growth of online platforms offering refurbished smartphones has increased market penetration, especially in emerging economies.
- The easy availability of smartphones on e-commerce platforms and the discounts offered during the festival and summer seasons may attract new customers.
- Therefore, a rise in e-commerce platforms creates a demand for used and refurbished smartphones.
- An increase in buy and sell platforms has, in turn, increased visibility and helped sellers to get the right price for their old phones.
- It has standardized the secondary smartphone market and has also increased competition among different players in the market.
- Amazon, the world's largest online retailer, has a dedicated section for refurbished devices.
- Customers can sell their old smartphones to Amazon in exchange for a discount on a new gadget.
- The business inspects them and makes any required repairs to seem and function as new.
- These devices are then sold in the refurbished sector. They are even backed by a vendor or manufacturer's limited warranty.
How is the growth being addressed?
The market witnessed several players making strategic investments and acquisitions to tap into the growing secondary smartphone market. In January 2022, Flipkart Group acquired Yaantra, an electronics recommerce company, for an undisclosed amount as part of its efforts to strengthen its recommerce business and enhance its after-sale offerings for its customers in the smartphone segment.
North American trade-in service providers witnessed business growth in the last few years due to companies and consumers updating and upgrading their devices due to the changes in the workplace and workforce. For instance, in February, Phobio, a trade-in service for mobile operators and consumer electronics brands, was named a trade-in provider to three new companies: Hyperion Partners, Amazon Canada, and Drone Nerds.
As markets across North America become increasingly tech-savvy, the demand for used and refurbished smartphones has seen a tremendous surge. The continual advancement in smartphone features and 5G capabilities have proved to be major market drivers. Furthermore, with leading vendors like Apple at the forefront of innovation, the United States remains one of the most cutting-edge smartphone markets in the world.
According to GSMA, North America was expected to surpass 1 billion 5G connections by 2022 and 2 billion by 2025, driven by continued network investments from operators and the expanding range of 5G smartphones at varying price points. By 2025, North America is expected to become the first region where 5G accounts for more than 50% of total connections.
Who are the key players in the Used and Refurbished Smartphone Market?
The competitive rivalry among the used and refurbished smartphone providers is very high, owing to the presence of various smartphone brands across the world. Some major smartphone giants include:
- Samsung Electronics Co. Ltd
- Apple Inc.
- Amazon.com Inc.
- Verizon Communications Inc.
- AT&T Inc.
- Reboxed Limited
- Nippon Telephone Inc.
- Best Buy Co. Inc.
- Woot Inc. (Amazon.com Inc.)
- Paytm (One97 Communications)
- Back Market
- Flipkart Internet Private Limited (Walmart Inc.)
Recent Developments in the Used and Refurbished Smartphone Market:
- September 2022: Fairphone, the Dutch social enterprise building a market for ethical smartphones, started marketing its refurbished smartphone, Fairphone 3, New Life Edition, through its website to promote longevity in smartphones and reduce e-waste and save valuable resources.
- May 2022: Phixman partnered with Detel to sell refurbished luxury smartphones at a nominal price with a warranty and all accessories. It also provides services at a reasonable price at all centers within PAN India.
- April 2022: Samsung’s renewed online store enables customers to own previously purchased and refurbished Galaxy S21 series, added to the pre-owned lineup. The renewed store offers lucrative deals on relatively new Samsung devices.
Briefly, the Mordor Intelligence Market Research Report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand the industry. Get a glance at the https://www.mordorintelligence.com/industry-reports/used-and-refurbished-smartphone-market
About Mordor Intelligence
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
Other Trending Reports you may like:
- Used and Refurbished Mobile Market Report
TIN LIÊN QUAN
Particleboard Market Expected to Grow at 5.2% CAGR Till
NEW YORK, March 10, 2023 (GLOBE NEWSWIRE) -- IndexBox, a leading market research firm, has released its latest report on the global wooden particle board...
Personal Floatation Devices Market
The paramount competitors covered in the global personal floatation devices market report include United Moulders Limited, Absolute Outdoor Inc., Marine...
Chillers Market Expected to Hit US$ 4.8 Billion by 2026
Chicago, Feb. 14, 2023 (GLOBE NEWSWIRE) -- The global chillers Market is projected to grow from USD 4.1 billion in 2021 to USD 4.8 billion by 2026, at a...
Photovoltaic Market Driven by Decreasing Costs of PV
Chicago, March 08, 2023 (GLOBE NEWSWIRE) -- The Photovoltaic Market by Component (Modules, Inverters, BOS), Material (Silicon, Compounds), Installation...
Global Pulmonary Embolism Market Size - Forecasts to 2028
The paramount competitors covered in the global pulmonary embolism market report include Abbott, F. Hoffmann-La Roche Ltd., Mylan N.V., Teva...
Outdoor Flooring Market Expected to Reach USD 2621.1
Outdoor Flooring Market Research Report by Material (Wood, Ceramics, Concrete, and Others), Type (Tile, Decking, and Others), End User (Residential,...
The Rising Demand For Smart Devices Will Propel The
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032...
North America Commercial Nuclear Power Market Size
BWX Technologies Inc., Doosan Heavy Industries & Construction Co. Ltd, Mitsubishi, Heavy Industries Ltd, GE-Hitachi Nuclear Energy Inc., Westinghouse...
THỦ THUẬT HAY
Cách đồng bộ hóa dữ liệu Y tế iCloud trong iOS 11
Bây giờ, Apple cho phép bạn đồng bộ dữ liệu sức khỏe của bạn ở iCloud trong iOS 11 trên iPhone và iPad.
Cách chơi game Liên quân Mobile trên máy tính
Chơi game Liên quân Mobile trên máy tính hay nói cách khác là cài đặt game Liên quân Mobile và chơi trên một trong những giả lập Android đang phổ biến trên thị trường hiện nay.
Hướng dẫn tăng tốc độ Internet trong Windows 10 version 1709
Hầu hết các bản cập nhật Windows 10 đều từ vài trăm MB đến GB, và đa số người dùng đều phàn nàn rằng kết nối internet của họ sẽ trở nên quá chậm khi Windows Update đang tải về bản cập nhật.
Cách khám phá vũ trụ và hệ mặt trời trên Google Maps
Google Maps mới cho phép người dùng thám hiểm vũ trụ, khám phá hệ mặt trời ngay trên chiếc máy tính của mình. Giờ đây việc xem Mặt trăng, Trái đất, sao Hỏa, Sao Kim, Sao Diêm Vương ngay trên Google Maps không còn là
Hướng dẫn làm USB Boot chuẩn Legacy và UEFI với DLCBoot 2017 v3.4
Dù bạn là một kỹ thuật viên máy tính hay sửa Windows dạo, hoặc chỉ đơn thuần là người thích vọc vạch thì USB cứu hộ vẫn là một thứ không thể thiếu được. Hôm nay, TECHRUM sẽ hướng dẫn các bạn cách để tạo một chiếc USB
ĐÁNH GIÁ NHANH
HP LaserJet Pro MFP M130nw: giải pháp in ấn tiết kiệm cho doanh nghiệp
Lựa chọn một chiếc máy in cho văn phòng hoặc gia đình là một vấn đề nhiều người quan tâm đến. Trong đó đối tượng khách hàng doanh nghiệp thì yếu tố giá thành và tính năng được đặt lên hàng đầu. Nếu như ‘hầu bao’ của
Điện thoại giá rẻ Samsung Galaxy A03 và những điểm cần lưu ý
Galaxy A03 – mẫu smartphone tích hợp những công nghệ tốt nhất trong phân khúc với Bộ đôi camera 48MP sắc nét, camera xóa phông nghệ thuật và bộ lọc phong phú mở rộng giới hạn sáng tạo của giới trẻ. Bên cạnh đó, dung