Latest News- Refurbished Smartphone Market: Android is expected to lead the OS segment during 2025-2029

The Refurbished Smartphone Market is being driven by Increasing focus on circular economy and sustainability in electronics industry

The Refurbished Smartphone Market is expected to grow at a CAGR of 14.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 65.06 billion. The refurbished smartphone market is experiencing significant growth, with the emergence of end-to-end online platforms facilitating buying and selling. These platforms provide a wide range of options, including premium smartphone brands. For instance, Finnish start-up Swappie Oy specializes in refurbished iPhones, offering an iPhone 11 for approximately USD314, along with buy-back and sell-back services. In South America, TROCAFONE SA leads the way as the first online platform, providing refurbished iPhones, Samsung smartphones, and other brands. In India, Qarmatek Services Pvt. Ltd. also contributes to this market, offering similar services. These platforms ensure quality assurance and affordability, making refurbished smartphones an attractive alternative to new devices. 

Get more information on Refurbished Smartphone Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• OS
  • Android
  • iOS
• Price Range
  • Low-priced
  • Medium-priced
  • Premium
• Distribution Channel
  • Online
  • Offline
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing focus on circular economy and sustainability in electronics industry
• Growth in smartphone repair industry
• Increased product launch to accelerate market growth

However, the market also witnesses some limitations, which are as follows:

• Easy availability of smartphones on e-commerce
• Trust issues associated with refurbished smartphone
• Increasing competition from unorganized sector

Benefits of Buying Global Refurbished Smartphone Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Refurbished Smartphone Market Research Report

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The refurbished smartphone market caters to middle-class populations and budget-conscious buyers in emerging markets, offering affordable devices like second-hand iPhones and various brand options. Cashify, ReFit Global, and others provide value-oriented solutions, extending the product life cycles of 4G and 5G devices. With increasing purchasing power, shipment volumes of refurbished units are projected to reach millions. Brands offer upgraded specifications, ensuring a sustainable tech ecosystem, while network operators focus on connectivity. Counterpoint Research predicts growth in the premium smartphone segment, providing brand options for students and value-conscious consumers. However, the challenge lies in managing e-waste and ensuring proper certification and testing. The Sensex and Nifty indices reflect the market's potential, with players like Alliance Urbanise and HomeLane contributing to the sector's expansion.

Market Research Overview

The refurbished smartphone market represents an attractive segment within the global technology hardware, storage, and peripherals market. This market caters primarily to middle-class populations and budget-conscious buyers, offering affordable devices that cater to their purchasing power. Brands recognize the potential of this emerging market, providing value-oriented solutions to students and professionals. Technavio forecasts that the global technology hardware, storage, and peripherals market will experience growth due to the increasing demand for data storage solutions driven by the 4Vs (volume, velocity, veracity, and variety) of data. This trend is particularly relevant to the refurbished smartphone market, as consumers seek cost-effective options to accommodate their expanding digital needs.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/