Middle East and Africa Refurbished and Used Mobile Phones Market 2024–2033

Reports Description

According to Custom Market Insights (CMI), The Middle East and Africa Refurbished and Used Mobile Phones Market size was estimated at USD 5.33 Billion in 2021 and is expected to reach USD 6.11 Billion in 2022 and is expected to hit around USD 12.39 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 10.01% from 2022 to 2030.

Our recently published report, “Middle East and Africa Refurbished and Used Mobile Phones Market”, offers a comprehensive and deep evaluation of the market stature. Also, the market report estimates the market size, revenue, price, market share, market forecast, growth rate, and competitive analysis.

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The Market for Used and Refurbished Mobile Phones in the Middle East and Africa: An Overview

A refurbished phone is a used phone that has been sold by a person to a network, producer, or retailer. The phones are then looked over, mended, and certified to meet predetermined standards. There is also a lower price for the repaired phones.

The cost of smartphones has gone up overall due to the availability of new smartphone technology. Because of this, consumers in developing countries are hesitant to spend a lot of money on the newest smartphones and instead go for second-hand devices. The technology is up to date, and a refurbished model that is one or two years old would be approximately as useful.

Used phones are mobile devices that have been used by consumers and then sold to other consumers through market-based re-commerce channels. Because they must check the phone's functionality and operational state, consumers rarely choose used phones as their first choice when buying a phone. Due to the fact that they have already been through all checks and the user does not need to invest additional time in assuring the quality, refurbished phones have become more and more popular. Also, second-hand phones are less expensive than their new counterparts, which encourages middle-class consumers to select used phones that are reasonable and in good shape.

The Market for Used and Refurbished Mobile Phones in the Middle East and Africa: COVID-19 Impact Study

Due to the closing of international borders to stop the spread of the COVID-19 virus during the pandemic, the Middle East and Africa were left without raw materials like semiconductors, which had a significant effect on the supply chains. That made it difficult to export and import cell phones and other necessary raw materials worldwide. Vendors in the Middle East and Africa now have a new chance to recondition the used mobile phone market as a result of this.

Due to changes in consumer purchasing and consumption patterns, the increased demand for used phones during the pandemic is anticipated to have a long-term effect on the Middle East and African markets.

Thus, the COVID-19 pandemic had a minor adverse effect on market income. Yet, it increased demand for old and refurbished phones worldwide and had a beneficial effect on the market by giving Middle Eastern and African mobile phone market sellers a huge chance for expansion.

The Market for Used and Refurbished Mobile Phones in the Middle East and Africa: Growth Factors

The acceptance of eCommerce and digital media

Due to the fast growth of digital material, the market for refurbished and used mobile phones in the Middle East and Africa is growing. Smartphones have largely taken over people's lives, facilitating e-commerce, facilitating communication, and driving the rise of digitalization.

Modern consumers who are tech-savvy go towards pricey, state-of-the-art machinery. Many users are not interested in using their new devices for extended periods of time due to the quick update cycle. A sizable percentage of the population exhibits interest in used mobile phones since they contain the needed features and are affordable. Businesses offering EMI alternatives for phones and mobile phone accessories, like BNPL, are mushrooming in the Middle East (Buy Now, Pay Later). In these regions, it is swiftly rising to the top of the list of preferred methods for paying for refurbished equipment online. In order to gain market share, BNPL startups work with providers of digital wallet services.

Upgrading R&D

Manufacturers of high-end mobile phones in emerging Middle Eastern nations constantly conduct R&D in order to meet consumers' rising technological demands. Because of this, it is also projected that the market for refurbished and second-hand mobile phones would expand. Furthermore, it is anticipated that rapid urbanization, an increase in sales of mid-priced brands, and a rise in demand for high-end features at affordable prices will all contribute to the market for refurbished and used mobile phones. Along with this, it is also believed that the Middle East and African markets for refurbished and used mobile phones are being driven by the rapid acceptance of government efforts and legislation regarding green initiatives and e-waste management.

Both individuals and businesses desire to buy cell phones for less money. In this case, using refurbished and used mobile devices can save money for both individuals and corporations. Also, producers assist customers in finding inexpensive and cost-efficient used cell phones. These factors will likely cause the industrial 5G industry to grow quickly, which will increase demand for refurbished and used mobile phones as well as mobile phone accessories.

Market Segmentation Analysis for Used and Refurbished Mobile Phones in the Middle East and Africa

Based on type, price point, and region, the market for refurbished and used mobile phones is divided. First, it is divided into used and refurbished phones according to kind. It is classified as low-cost, mid-cost, and premium depending on the price point. Finally, it is examined in relation to the Middle East and Africa (GCC countries, South Africa, and the rest of Middle East Africa).

The availability of refurbished smartphones is higher compared to used mobile phones, and the population is very interested in using the new devices first-hand, so this segment is expected to maintain its market share during the forecast period, according to a type-based analysis of the refurbished and used mobile phone market in the Middle East and Africa.

Also, the introduction or launch of new gadgets in the area has prompted customers to switch to using new phones, oversupplying the market with used phones. Also, the region's population is driving up sales of refurbished and used mobile phones due to the increasing acceptance and viability of high-performance phones.

Based on price point, the mid-priced category earned a sizable part of the Middle East and Africa market in 2021 and is anticipated to maintain its market share during the projected period, according to refurbished and used mobile phone market trends.

Mid-priced refurbished and used mobile phone sales are expected to grow during the forecast period due to rising interest in high-performing quality phones and a constant rise in disposable income. Also, as more new smartphone models are released and become more widely available, the pricing of older versions is being affected.

According to country, GCC nations dominated the market for reconditioned and used mobile phones in 2021 and are anticipated to continue dominating the market during the market's projected period.

Customers' in-depth product knowledge and the region's growing interest in high-performance smartphones are primarily responsible for the market's dominance. Also, the Middle East and Africa stand out due to their rising nations, growing interest in technology, and robust demand for premium intelligent devices. The populace now needs more refurbished and used mobile phones as a result of these considerations. Also, the population of developing African nations is becoming more aware of the advantages of utilizing refurbished phones, which is boosting the demand for electronics.

Refurbished phones provide the advantages of reducing electronic waste, promoting sustainability, and providing superior products at cost-effective prices.

Market growth is also fueled by growing e-commerce platforms and greater investment in the renovation sector. Also, the introduction of 5G services in the region is boosting smartphone sales, and it is anticipated that if these services spread further, the market's need for new smartphones will provide a similar growth opportunity for refurbished and used devices.

Report Scope

Key Insights:

• Refurbished phones are predicted to hold the biggest market share during the projected period based on type segmentation.
• The mid-priced segment will generate the most income throughout the projected period based on price point.
• Geographically and nationally, the GCC nations generated the most money in 2021.

New Development

• Apple, Inc. unveiled all the refurbished iPhone 12 models that would continue to be offered for sale in September 2022. Apple previously participated in the sale of the iPhone 11 and its forerunner devices.

Regional Landscape

The Middle East and Africa region, which now accounts for the majority of market revenue, is expected to continue to rank among the most alluring regions during the projection period.

The GCC nations stand out for having high levels of disposable income, growing technological interest, and significant demand for premium intelligent devices. These factors make used and reconditioned mobile phones more in demand. Also, the growth of e-commerce platforms and better investments in the renovation industry are what is driving market expansion. The launch of 5G services across the region is also boosting smartphone sales, and while the market for new smartphones continues to increase, it is anticipated that the demand for refurbished and used phones will offer a similar amount of development potential.

Competitive Environment

Insights into the market for refurbished and used mobile phones as well as significant development initiatives taken by the major players are provided in our analysis, both quantitatively and qualitatively. Additionally, it offers market share research and information about competitors. The study also includes pertinent financial data, a SWOT analysis, a list of the products and services supplied, and information on current player activity.

Prominent Players:

• Apple Inc.
• Amazon
• Samsung
• Verizon Communications, Inc.
• Cashify
• Walmart
• eBay
• Paytm
• Huawei
• Yaantra
• AT&T Inc.