North America Refurbished and Used Mobile Phones Market 2024–2033

Reports Description

According to Custom Market Insights (CMI), North America Refurbished and Used Mobile Phones Market size was estimated at USD 8.08 Billion in 2021 and is expected to reach USD 8.94 Billion in 2022 and is expected to hit around USD 33.77 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 13.07% from 2022 to 2030.

Our recently published report, “North America 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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North America Refurbished and Used Mobile Phones Market Overview

A refurbished phone is a secondhand phone sold by a customer to a network, manufacturer, or retailer. The phones are tested, repaired, and certified to verify that they meet the specifications. The fixed phones are also for sale at a reduced price.

Used phones are smartphones that have been utilized by consumers and then resold to other customers through market re-commerce platforms. Some of the significant factors driving the expansion of North America's refurbished and used mobile phone market are the increasing advancements in smartphone features and the expanding scope of 5G smartphones.

The U.S. is one of the most developed economies for smartphone manufacturers globally. The region has a tradition of creating revolutionary smartphones, particularly with vendors such as Apple have transformed the global market dynamics.

According to the GSMA, North America will have 1 billion 5G connections by 2022 and 2 billion by 2025, owing to overall network investment opportunities by operators and an addition to access to 5G smartphones at different price points. As a result, North America will be the first geographic area where 5G records for more than 50% of total connections by 2025.

The region is also witnessing a pattern of low-end and mid-range phones, as many makers believe it is more feasible during the COVID-19 pandemic. Despite the availability of other brands and product lines, iPhones and top-quality Samsung flagship products dominated the market. Therefore, North America refurbished and used mobile phone market may be influenced by changing trends.

North America Refurbished and Used Mobile Phones Market: COVID – 19 Impact Analysis

The lack of raw materials like semiconductors in North America during the pandemic, owing to the closure of international borders, to contain the spread of the COVID-19 virus had negatively impacted the supply chains. It hampered the export and import of essential raw materials and smartphones globally. This created a new opportunity for the vendors operating in North American refurbished and used mobile phones market. Furthermore, the increased demand for second-hand phones during the pandemic is expected to have a long-term impact on the North American market due to changes in consumer buying and consumption behavior.

Therefore, the COVID-19 pandemic had a slightly negative impact on the market's revenues. However, it boosted the demand for refurbished and used phones across the globe and positively impacted the market by creating a tremendous growth opportunity for the vendors operating in North America's refurbished and used mobile phones market.

North America Refurbished and Used Mobile Phones Market: Growth Drivers

Increase in smartphone adoption to accelerate the market’s growth

The number of mobile phones equipped with innovative technology has risen in the previous five years. However, the availability of new smartphone technologies has increased the ultimate cost of smartphones. As a result, customers in developing countries are hesitant to spend considerable sums on new mobile and are seeking refurbished and used mobile phones for usage. A year or two-year-old refurbished and used mobile model would offer them almost the same utility, and the technology is up to the mark with the current benchmark.

Moreover, the increasing supply-demand gap for newly launched devices in the market provides a platform for selling refurbished and used mobiles. Consumers are comfortable settling for refurbished and used models that have been released in the past one or two years as they would provide a nearly the same experience as the new devices. The increasing popularity and consumer acceptance of refurbished and used mobiles are expected to boost market growth during the forecast period.

Increasing investment and product development

The region's refurbished and used mobile phones market is seeing increased investment. For instance, Back Market, a dedicated refurbished consumer electronic marketplace, announced an investment round of USD 335 million led by General Atlantic in May 2021, with the assistance of Generation Investment Management and investment firms Aglaé Ventures, Goldman Sachs Growth Equity, Eurazeo, and Daphni.

Product economic growth in North American trade-in service providers has occurred in recent years due to businesses and customers trying to update and upgrade their devices due to changes in the workplace and workforce. For instance, in February 2021, Phobia, a mobile carrier, and consumer technology brand trade-in service, was named a commerce provider to three new firms: Hyperion Partners, Amazon Canada, and Drone Nerds. As a result, in 2020, the company's revenue will have nearly doubled. This momentum was maintained in 2021 as the firm expanded its operations.

North America Refurbished and Used Mobile Phones Market Segmentation Analysis

The refurbished and used mobile phones market is segmented based on type, price point, and region. First, based on type, it is segmented into refurbished and used phones. Based on the price point, it is low-priced, mid-priced, and premium. Finally, region-wise, it is analyzed across North America (the U.S., Canada, and Mexico).

According to refurbished and used mobile phones market analysis, based on type, the refurbished phones segment gained a significant share in the North American market in 2021 and is expected to sustain its market share during the forecast period as the availability of refurbished smartphones is higher compared to used mobile phones and the population is highly interested in getting a hands-on experience of the new devices.

In addition, introducing or launching new devices in the region has encouraged consumers to shift to the use of new phones, creating a surplus volume of used phones in the market. Furthermore, growth in the popularity and feasibility of high-performing phones propels sales of refurbished and used mobile phones among the population across the region.

According to refurbished and used mobile phone market trends, based on price point, the mid-priced segment gained a significant share in the North American market in 2021 and is expected to sustain its market share during the forecast period. A consistent increase in disposable income and growing interest in high-performing quality phones is increasing the support for the sales of mid-priced refurbished and used mobile phones during the forecast period. In addition, the increasing launch of new models of smartphones is affecting the price of the old models as it becomes more affordable for the population to purchase.

Based on country, the U.S. dominated the refurbished and used mobile phones market in 2021 and is expected to remain dominant during the refurbished and used mobile phones market forecast period. The market's supremacy is attributed mainly to customers' extensive product knowledge and the region's growing interest in high-performance smartphones.

Report Scope

Feature of the Report	Details
Market Size in 2021	USD 8.08 Billion
Projected Market Size in 2030	USD 33.77 Billion
Market Size in 2022	USD 8.94 Billion
CAGR Growth Rate	13.07% CAGR
Base Year	2023
Forecast Period	2024-2033
Prominent Players	Apple Inc., Amazon, Samsung, Verizon Communications, Inc., Cashify, Walmart, eBay, Paytm, Huawei , Yaantra, AT&T Inc., and Others
Key Segment	By Type, Price point, and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

Key Insights:

• Based on type segmentation, the refurbished phones segment is estimated to hold the largest market share during the forecast period.
• Based on price point, the mid-priced segment is the leading revenue-generating category during the forecast period.
• Based on geography/country, the U.S. was the leading revenue generator in 2021.

Recent Development

• In September 2022, Apple, Inc. introduced all the models of refurbished iPhone 12 to be kept up for sale. Previously Apple was involved in selling iPhone 11 and its predecessor models.
• In January 2020, Walmart established the At-Store test program to sell refurbished iPhones, iPads, and other Apple gadgets in around 30 of its physical locations. Participating stores sell got-certified refurbished Apple equipment with a one-year guarantee.

Regional Landscape

Throughout the projection period, the North American region is expected to continue to be among the most alluring markets, and this region is accounted for the majority revenue share in the market. The U.S. is distinguished by a high level of disposable income, a growing interest in technology, and a strong demand for high-quality intelligent gadgets. These factors increase the population's need for refurbished and used mobile phones. Furthermore, expanding e-commerce platforms and increased investment in the refurbishing industry drive market development. In addition, the advent of 5G services throughout the area is increasing smartphone sales, and it is projected that with further expansion, the market need for new smartphones will offer an equivalent growth potential for refurbished and used phones.

Competitive Landscape

Our report offers quantitative and qualitative insights into the refurbished and used mobile phones market and significant development initiatives adopted by the key players. Further, it provides competitive details and market share analysis. The report further includes relevant financial information, products and services offered, SWOT analysis, and the players' recent developments.

Prominent Players:

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

The North America refurbished and used mobile phones 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/Geography

• North America
• The U.S.
• Canada
• Mexico