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 due to the increasing availability of end-to-end online platforms. These platforms cater to both normal and premium smartphone brands, such as Swappie Oy in Finland, which specializes in refurbished iPhones, offering an iPhone 11 for approximately USD314. Swappie provides buy-back and sell options for used iPhones. Similarly, TROCAFONE SA in Brazil, the first online platform in South America for refurbished smartphones, offers a range of iPhones, Samsung smartphones, and other refurbished devices. These platforms provide an economical solution for consumers seeking affordable yet high-quality smartphones. 

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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
• Brand
  • Apple
  • Samsung
  • Others
• 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

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Market Scope in Refurbished Smartphone Market Research Report

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Research Analysis Overview

The refurbished smartphone market encompasses the sale of pre-owned devices that undergo grading and reconditioning processes. Mobile device refurbishment involves sourcing components, extending device lifespan through factory reset procedures, and implementing device trade-in programs. Quality control inspections ensure customer satisfaction, with repair cycle times and component life cycles factored into pricing strategies. Warranty claims, repair cost estimates, and customer support channels are crucial elements of the reselling strategy. Product lifecycle management, inventory management systems, and supply chain optimization are essential for efficient operations. Market demand forecasts and customer segmentation analysis inform targeted marketing campaigns.

Market Research Overview

The refurbished smartphone market is a segment of Technavio's global technology hardware, storage, and peripherals market analysis. This market encompasses the sale of revitalized mobile devices, contributing to the broader IT sector. Key components of the parent market include manufacturers of cellular phones, personal computers, servers, and peripherals. Technavio evaluates the market size based on revenue generated from hardware sales. Factors driving growth in this sector include the increasing 4Vs of data - volume, velocity, veracity, and variety - necessitating advanced data storage solutions. Additionally, considerations such as battery health checks, screen repair costs, data wipe processes, and refurbished phone warranties are essential aspects of the refurbished smartphone market.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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