Refurbished Smartphone Market Size, Trends and Insights By Type (Refurbished Phone, Used Phone), By Price Range (Low price, Mid Price, Premium), By Application (Individual, Businesses), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032


Report Code: CMI23738

Published Date: May 2023

Pages: 220+

Category: Technology

Report Snapshot

CAGR: 11.2%
64.30B
2022
76.45B
2023
185.89B
2032

Source: CMI

Study Period: 2023-2032
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Apple
  • Samsung
  • Amazon
  • Gazelle
  • Best Buy
  • Back Market
  • Others

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Reports Description

As per the current market research conducted by CMI Market Research Team, the global Refurbished Smartphone market is expected to record a CAGR of 11.2% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 64.30 billion. By 2032, the valuation is anticipated to reach USD 185.89 billion.

The refurbished smartphone market refers to the buying and selling of used smartphones that have been restored to a functional and presentable condition. These devices undergo a thorough inspection, repair, and testing process to ensure they meet quality standards. Refurbished smartphones are often sold at a lower price compared to new devices, making them an affordable option for consumers. The market includes various players such as manufacturers, retailers, online platforms, and specialized refurbishing companies that engage in refurbishing and selling these pre-owned smartphones.

Refurbished Smartphone Market – Significant Growth Factors

The refurbished smartphone market offers significant growth opportunities due to several factors:

  • Affordability: Refurbished smartphones are typically priced lower than new devices, making them attractive to budget-conscious consumers who still want access to advanced features and technology.
  • Sustainability and Circular Economy: The market aligns with the growing consumer demand for sustainable and environmentally friendly options. Refurbished smartphones extend the lifespan of electronic devices, reducing electronic waste and promoting a circular economy.
  • Improved Quality and Warranty: Many refurbished smartphones undergo rigorous testing and repair processes, ensuring that they meet quality standards. Sellers often provide warranties and customer support, enhancing consumer confidence and reducing concerns about purchasing used devices.
  • Technological Advancements: As new smartphone models are released, previous generations become available in the refurbished market. This allows consumers to access advanced technology at a more affordable price point.
  • Emerging Markets: The refurbished smartphone market presents significant opportunities in emerging markets where cost sensitivity is high, and brand-new devices may be financially out of reach for many consumers. Refurbished smartphones offer a more accessible entry point into the smartphone market.
  • Online Retail and E-commerce: The rise of online retail platforms and e-commerce has facilitated the growth of the refurbished smartphone market. Consumers can easily browse and compare options, and sellers can reach a wider audience.
  • Partnerships and Distribution Channels: Manufacturers, retailers, and refurbishing companies are increasingly partnering to expand their reach and tap into the growing demand for refurbished smartphones. This includes collaborations with mobile network carriers, online platforms, and authorized resellers.

Overall, the combination of affordability, sustainability, improved quality, technological advancements, and market expansion provides significant growth opportunities for the refurbished smartphone market.

Refurbished Smartphone Market – Mergers and Acquisitions

The refurbished smartphone market has witnessed several mergers and acquisitions, as companies seek to strengthen their position, expand their offerings, and capitalize on the market’s growth potential. Some notable examples include:

  • Apple’s Acquisition of Refurbished Devices: Apple has acquired refurbished device companies like PowerON Services and certain assets of Global Service Exchange (GSX) to enhance its refurbishment capabilities and support its Certified Refurbished program.
  • Assurant’s Acquisition of HYLA Mobile: Assurant, a global provider of risk management solutions, acquired HYLA Mobile, a leading provider of smartphone trade-in and upgrade programs. This acquisition allows Assurant to expand its presence in the refurbished smartphone market and leverage HYLA Mobile’s expertise.
  • Brightstar’s Acquisition by SoftBank: SoftBank, a multinational conglomerate, acquired Brightstar Corp., a global provider of mobile device lifecycle management solutions. This acquisition enabled SoftBank to strengthen its position in the refurbished smartphone market and leverage Brightstar’s extensive distribution network.
  • Back Market’s Funding and Expansion: Back Market, an online marketplace for refurbished electronics, has secured significant funding to support its expansion plans. The company has raised funds through various rounds of financing, allowing it to expand its operations, reach more customers, and strengthen its position in the market.
  • Gazelle’s Acquisition by ecoATM: In 2015, ecoATM, a provider of automated self-serve kiosks for buying back used electronics, acquired Gazelle, a prominent player in the refurbished smartphone market. This acquisition brought together two leaders in the pre-owned device industry and expanded ecoATM’s offerings.

These mergers and acquisitions highlight the strategic moves made by companies to enhance their refurbishment capabilities, expand their market presence, and capitalize on the growing demand for refurbished smartphones.

The consolidation of industry players through such transactions can lead to synergies, improved operational efficiency, and a stronger competitive position within the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

U.S. Refurbished and Used Mobile Phones Market Latin America Refurbished and Used Mobile Phones Market Global Refurbished and Used Mobile Phones Market
CAGR 12.90% (Approx) CAGR 12.77%

(Approx)

11.45%

(Approx)

US$ 23.61 Billion by 2032 US$ 8.79 Billion by 2032 USD 146.43 Billion by 2032

Refurbished Smartphone Market – Significant Threats

While the refurbished smartphone market presents significant growth opportunities, there are also some notable threats that industry players need to navigate:

  • Counterfeit Products: The presence of counterfeit refurbished smartphones poses a significant threat to the market. Counterfeit devices may not undergo proper refurbishment processes, compromising quality and potentially leading to negative customer experiences. This can erode consumer trust in the refurbished market as a whole.
  • Competition from New Devices: The continuous release of new smartphone models can divert consumer attention away from refurbished options. The allure of the latest features and technology in new devices may make it challenging for refurbished smartphones to compete, especially among tech enthusiasts and early adopters.
  • Brand Loyalty and Pre-Owned Perception: Consumers with strong brand loyalty may prefer to purchase new devices directly from the original manufacturer, despite the higher cost. Additionally, some consumers may still perceive pre-owned devices negatively, associating them with lower quality or a lack of warranty coverage.
  • Limited Supply and Quality Variability: The availability of specific refurbished smartphone models can be limited, depending on factors such as market demand and supply chain availability. In some cases, the quality of refurbished devices may vary, leading to inconsistent customer experiences. Maintaining consistent quality standards is crucial to mitigate this threat.
  • Rapid Technological Advancements: The rapid pace of technological advancements in the smartphone industry poses a challenge to the refurbished market. As new features and technologies become mainstream, older models may become less desirable, impacting the demand for refurbished devices.
  • Regulatory and Legal Challenges: Compliance with regulations related to the refurbishment and resale of electronic devices can pose challenges for industry players. Ensuring compliance with data privacy, safety, and environmental regulations is essential to mitigate legal risks.
  • Consumer Perception and Education: Educating consumers about the benefits and reliability of refurbished smartphones remains crucial. Many potential customers may have misconceptions about the quality and longevity of refurbished devices, hindering adoption and growth.

Navigating these threats requires industry players to address quality concerns, build consumer trust through transparent processes, educate consumers about the benefits of refurbished smartphones, and continuously innovate to provide competitive offerings. Adapting to market dynamics and investing in customer satisfaction are key strategies to overcome these challenges.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 76.45 Billion
Projected Market Size in 2032 USD 185.89Billion
Market Size in 2022 USD 64.30 Billion
CAGR Growth Rate 11.2% CAGR
Base Year 2022
Forecast Period 2023-2032
Key Segment By Type, Price Range, Application, and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Category-Wise Insights

By Type:

The refurbished phones segment dominated the refurbished and used mobile phones market share in 2023 and is expected to maintain its dominance throughout the forecast period. This is primarily due to the increasing popularity of refurbished smartphones among end consumers.

The market is influenced by a wide range of key players offering affordable rates for refurbished mobiles and the availability of various refurbished models. On the other hand, the used phones segment is projected to experience the highest growth in the refurbished and used mobile phones market in the coming years. This growth is driven by the presence of numerous options for selling used devices, with many retail shops and second-hand device specialists adopting the practice of selling used smartphones due to the higher profit margin it offers.

Global Refurbished Smartphone Market 2023–2032 (By Billion)

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By Application:

Individual Consumers: This segment includes individual customers who purchase refurbished smartphones for personal use. Some key factors driving the demand among individual consumers include:

  1. Affordability: Refurbished smartphones provide a cost-effective alternative for individuals who want access to advanced features and technology at a lower price point compared to new devices.
  2. Value for Money: Refurbished smartphones offer a good value proposition, as they are often restored to a high-quality condition, come with warranties, and provide a similar user experience to new devices.
  3. Environmental Consciousness: Increasing environmental awareness among individuals drives the demand for refurbished smartphones as a sustainable choice, helping to reduce electronic waste.
  4. Availability and Variety: The market offers a wide range of refurbished smartphone models and brands, allowing individual consumers to choose according to their preferences and budget.

Businesses: This segment comprises businesses and organizations that purchase refurbished smartphones for various purposes, such as employee use, testing and development, or as affordable communication devices. Key factors influencing the demand among businesses include:

  1. Cost Savings: Refurbished smartphones provide cost-effective solutions for businesses, enabling them to equip their employees with reliable devices at a lower investment cost compared to new devices.
  2. Bulk Purchase Options: Many refurbishment companies and sellers offer bulk purchase options, making it convenient for businesses to acquire a large number of smartphones for their workforce.
  3. Device Testing and Development: Businesses in the mobile industry or app development sector may purchase refurbished smartphones for testing purposes, ensuring the compatibility and functionality of their products.
  4. Communication and Secondary Devices: Refurbished smartphones can serve as secondary devices for businesses, such as backup phones, temporary devices for contractors, or specialized communication devices in specific work environments.

Global Refurbished Smartphone Market 2023–2032 (By Type Analysis)

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Refurbished Smartphone Market – Regional Analysis

The refurbished smartphone market exhibits regional variations in terms of demand, market dynamics, and consumer preferences. Here is a regional analysis of the market:

  • North America: North America holds a significant share of the refurbished smartphone market. The region’s strong presence of key players, such as Apple, and the popularity of refurbished devices among budget-conscious consumers contribute to market growth. Additionally, environmental awareness and the preference for sustainable options drive the demand for refurbished smartphones in this region.
  • Europe: Europe is another prominent market for refurbished smartphones. The region’s strict environmental regulations, coupled with a strong emphasis on sustainability, contribute to the growth of the refurbished smartphone market. Countries like the UK, Germany, and France have a well-established market for pre-owned and refurbished devices, with consumers appreciating the value and affordability they offer.
  • Asia Pacific: The Asia Pacific region is experiencing significant growth in the refurbished smartphone market. Factors such as the large population, rising smartphone penetration, and increasing demand for affordable devices contribute to market expansion. Countries like India and China are key contributors to the growth, with a growing number of players entering the market and offering refurbished smartphones at competitive prices.
  • Latin America: Latin America presents opportunities for growth in the refurbished smartphone market. The region’s price-sensitive consumer base, coupled with the presence of established players and e-commerce platforms, contributes to market development. Countries like Brazil and Mexico are key markets in this region.
  • Middle East and Africa: The Middle East and Africa region also show potential for the refurbished smartphone market. The demand is driven by factors such as affordability, the presence of price-sensitive consumers, and the popularity of online platforms for purchasing refurbished devices. Countries like the UAE, Saudi Arabia, and South Africa are significant contributors to the market growth in this region.

Competitive Landscape – Refurbished Smartphone Market

The competitive landscape of the refurbished smartphone market is dynamic and features a mix of established players and emerging companies. Key players compete based on factors such as product quality, pricing, brand reputation, distribution networks, and customer support. Here are some prominent players in the refurbished smartphone market:

  • Apple: Apple offers refurbished iPhones through its official website and authorized retailers. The company’s strong brand reputation and commitment to quality make it a significant player in the market.
  • Samsung: Samsung sells refurbished smartphones, including Galaxy models, through its official website and authorized channels. The company’s wide range of devices and strong market presence contribute to its competitiveness.
  • Amazon: Amazon’s Renewed program offers a wide selection of refurbished smartphones from various brands. The company’s extensive reach and customer trust make it a significant player in the market.
  • Back Market: Back Market is an online marketplace that connects buyers with certified refurbished smartphones from different brands. The platform’s focus on quality control and diverse product offerings contribute to its competitiveness.
  • Gazelle: Gazelle specializes in buying and selling pre-owned and refurbished smartphones, including iPhones and Samsung Galaxy devices. The company’s trade-in program and convenient selling process position it as a notable player in the market.
  • Decluttr: Decluttr is a website that allows individuals to sell and buy refurbished smartphones, including popular brands like Apple and Samsung. The company’s emphasis on customer experience and easy transactions contribute to its competitive position.
  • Swappa: Swappa is a platform where individuals can buy and sell used and refurbished smartphones directly. The company’s focus on transparency, seller verification, and buyer protection contributes to its competitiveness.
  • eBay: eBay is a popular online marketplace where sellers offer refurbished smartphones from different brands. The platform’s large user base and wide product selection make it a notable player in the market.
  • Best Buy: Best Buy operates a trade-in and refurbished smartphone program, providing customers with options to purchase certified pre-owned devices. The company’s strong retail presence and customer trust contribute to its competitive edge.
  • Certified Pre-Owned Programs: Mobile network carriers and manufacturers often have certified pre-owned programs, such as Verizon’s CPO program or Apple’s Certified Refurbished program. These programs enhance the competitiveness of carriers and manufacturers in the refurbished smartphone market.

The competitive landscape is subject to change, with new players entering the market and existing players expanding their offerings. Adapting to customer preferences, ensuring quality refurbishment processes, and providing competitive pricing and customer support are key strategies for companies in the refurbished smartphone market.

Global Refurbished Smartphone Market 2023–2032 (By Application Analysis)

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The Refurbished Smartphone Market is segmented as follows:

By Type Analysis

  • Refurbished Phones
  • Used Phones

By Pricing Range Analysis

  • Low-priced Refurbished and Used Mobile Phones (Less than $200)
  • Mid-Priced Refurbished and Used Mobile Phones ($200-$500)
  • Premium Refurbished and Used Mobile Phones (More than $500)

By Sales Channel Analysis

  • Online/ e-Commerce Sales of Refurbished and Used Mobile Phones
  • Refurbished and Used Mobile Phones Sold at Physical Retail Stores

By Application Analysis

  • Individual
  • Businesses

By Region

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Refurbished Smartphone Market, (2023 – 2032) (USD Billion)
    • 2.2 Global Refurbished Smartphone Market : snapshot
  • Chapter 3. Global Refurbished Smartphone Market – Industry Analysis
    • 3.1 Refurbished Smartphone Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Attractive to budget-conscious consumers
      • 3.2.2 Sustainability and Circular Economy
      • 3.2.3 Improved Quality and Warranty
      • 3.2.4 Emerging Markets
      • 3.2.5 Certified Pre-Owned Programs.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Type
      • 3.7.2 Market attractiveness analysis By Price Range
      • 3.7.3 Market attractiveness analysis By Application
  • Chapter 4. Global Refurbished Smartphone Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Refurbished Smartphone Market: company market share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Refurbished Smartphone Market – Type Analysis
    • 5.1 Global Refurbished Smartphone Market overview: By Type
      • 5.1.1 Global Refurbished Smartphone Market share, By Type, 2022 and 2032
    • 5.2 Refurbished Phone
      • 5.2.1 Global Refurbished Smartphone Market by Refurbished Phone , 2023 – 2032 (USD Billion)
    • 5.3 Used Phone
      • 5.3.1 Global Refurbished Smartphone Market by Used Phone, 2023 – 2032 (USD Billion)
  • Chapter 6. Global Refurbished Smartphone Market – Price Range Analysis
    • 6.1 Global Refurbished Smartphone Market overview: By Price Range
      • 6.1.1 Global Refurbished Smartphone Market share, By Price Range, 2022 and 2032
    • 6.2 Low price
      • 6.2.1 Global Refurbished Smartphone Market by Low price, 2023 – 2032 (USD Billion)
    • 6.3 Mid Price
      • 6.3.1 Global Refurbished Smartphone Market by Mid Price, 2023 – 2032 (USD Billion)
    • 6.4 Premium
      • 6.4.1 Global Refurbished Smartphone Market by Premium, 2023 – 2032 (USD Billion)
  • Chapter 7. Global Refurbished Smartphone Market – Application Analysis
    • 7.1 Global Refurbished Smartphone Market overview: By Application
      • 7.1.1 Global Refurbished Smartphone Market share, By Application, 2022 and 2032
    • 7.2 Individual
      • 7.2.1 Global Refurbished Smartphone Market by Individual, 2023 – 2032 (USD Billion)
    • 7.3 Businesses
      • 7.3.1 Global Refurbished Smartphone Market by Businesses, 2023 – 2032 (USD Billion)
  • Chapter 8. Refurbished Smartphone Market – Regional Analysis
    • 8.1 Global Refurbished Smartphone Market Regional Overview
    • 8.2 Global Refurbished Smartphone Market Share, by Region, 2022 & 2032 (USD Billion)
    • 8.3. North America
      • 8.3.1 North America Refurbished Smartphone Market, 2023 – 2032 (USD Billion)
        • 8.3.1.1 North America Refurbished Smartphone Market, by Country, 2023 – 2032 (USD Billion)
    • 8.4 North America Refurbished Smartphone Market, by Type, 2023 – 2032
      • 8.4.1 North America Refurbished Smartphone Market, by Type, 2023 – 2032 (USD Billion)
    • 8.5 North America Refurbished Smartphone Market, by Price Range, 2023 – 2032
      • 8.5.1 North America Refurbished Smartphone Market, by Price Range, 2023 – 2032 (USD Billion)
    • 8.6 North America Refurbished Smartphone Market, by Application, 2023 – 2032
      • 8.6.1 North America Refurbished Smartphone Market, by Application, 2023 – 2032 (USD Billion)
    • 8.7. Europe
      • 8.7.1 Europe Refurbished Smartphone Market, 2023 – 2032 (USD Billion)
        • 8.7.1.1 Europe Refurbished Smartphone Market, by Country, 2023 – 2032 (USD Billion)
    • 8.8 Europe Refurbished Smartphone Market, by Type, 2023 – 2032
      • 8.8.1 Europe Refurbished Smartphone Market, by Type, 2023 – 2032 (USD Billion)
    • 8.9 Europe Refurbished Smartphone Market, by Price Range, 2023 – 2032
      • 8.9.1 Europe Refurbished Smartphone Market, by Price Range, 2023 – 2032 (USD Billion)
    • 8.10 Europe Refurbished Smartphone Market, by Application, 2023 – 2032
      • 8.10.1 Europe Refurbished Smartphone Market, by Application, 2023 – 2032 (USD Billion)
    • 8.11. Asia Pacific
      • 8.11.1 Asia Pacific Refurbished Smartphone Market, 2023 – 2032 (USD Billion)
        • 8.11.1.1 Asia Pacific Refurbished Smartphone Market, by Country, 2023 – 2032 (USD Billion)
    • 8.12 Asia Pacific Refurbished Smartphone Market, by Type, 2023 – 2032
      • 8.12.1 Asia Pacific Refurbished Smartphone Market, by Type, 2023 – 2032 (USD Billion)
    • 8.13 Asia Pacific Refurbished Smartphone Market, by Price Range, 2023 – 2032
      • 8.13.1 Asia Pacific Refurbished Smartphone Market, by Price Range, 2023 – 2032 (USD Billion)
    • 8.14 Asia Pacific Refurbished Smartphone Market, by Application, 2023 – 2032
      • 8.14.1 Asia Pacific Refurbished Smartphone Market, by Application, 2023 – 2032 (USD Billion)
    • 8.15. Latin America
      • 8.15.1 Latin America Refurbished Smartphone Market, 2023 – 2032 (USD Billion)
        • 8.15.1.1 Latin America Refurbished Smartphone Market, by Country, 2023 – 2032 (USD Billion)
    • 8.16 Latin America Refurbished Smartphone Market, by Type, 2023 – 2032
      • 8.16.1 Latin America Refurbished Smartphone Market, by Type, 2023 – 2032 (USD Billion)
    • 8.17 Latin America Refurbished Smartphone Market, by Price Range, 2023 – 2032
      • 8.17.1 Latin America Refurbished Smartphone Market, by Price Range, 2023 – 2032 (USD Billion)
    • 8.18 Latin America Refurbished Smartphone Market, by Application, 2023 – 2032
      • 8.18.1 Latin America Refurbished Smartphone Market, by Application, 2023 – 2032 (USD Billion)
    • 8.19. The Middle-East and Africa
      • 8.19.1 The Middle-East and Africa Refurbished Smartphone Market, 2023 – 2032 (USD Billion)
        • 8.19.1.1 The Middle-East and Africa Refurbished Smartphone Market, by Country, 2023 – 2032 (USD Billion)
    • 8.20 The Middle-East and Africa Refurbished Smartphone Market, by Type, 2023 – 2032
      • 8.20.1 The Middle-East and Africa Refurbished Smartphone Market, by Type, 2023 – 2032 (USD Billion)
    • 8.21 The Middle-East and Africa Refurbished Smartphone Market, by Price Range, 2023 – 2032
      • 8.21.1 The Middle-East and Africa Refurbished Smartphone Market, by Price Range, 2023 – 2032 (USD Billion)
    • 8.22 The Middle-East and Africa Refurbished Smartphone Market, by Application, 2023 – 2032
      • 8.22.1 The Middle-East and Africa Refurbished Smartphone Market, by Application, 2023 – 2032 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1 Apple
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 Samsung
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 Amazon
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 Gazelle
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 Best Buy
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 Back Market
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 Swappa
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 eBAY
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 Decluttr
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
    • 9.10 Others
      • 9.10.1 Overview
      • 9.10.2 Financials
      • 9.10.3 Product Portfolio
      • 9.10.4 Business Strategy
      • 9.10.5 Recent Developments
List Of Figures

Figures No 1 to 23

List Of Tables

Tables No 1 to 77

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Players

  • Apple
  • Samsung
  • Amazon
  • Gazelle
  • Best Buy
  • Back Market
  • Swappa
  • eBAY
  • Decluttr
  • Others

FAQs

“North America” region will lead the global Refurbished Smartphone market during the forecast period 2023 to 2032.

The key factors driving the market are attractive to budget-conscious consumers, Sustainability and Circular Economy, Improved Quality and Warranty, Emerging Markets and Certified Pre-Owned Programs.

The key players operating in the Refurbished Smartphone market are Apple, Samsung, Amazon, Gazelle, Best Buy, Back Market, Swappa, eBAY, Decluttr, Others.

The global Refurbished Smartphone market is expanding growth with a CAGR of approximately 11.2% during the forecast period (2023 to 2032).

The global Refurbished Smartphone market size was valued at USD 64.30 Billion in 2022 and it is projected to reach around USD 185.89 Billion by 2032.

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