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Report overview
The global Used and Refurbished Smartphone market was valued at US$ 349.40 million in 2023 and is projected to reach US$ 504.10 million by 2032, at a CAGR of 12.40% during the forecast period 2023-2032.
This report contains market size and forecasts of Used and Refurbished Smartphone in global, including the following market information:
The global key manufacturers of Used and Refurbished Smartphone include Samsung Electronics, Apple, Amazon.com, Verizon Communications, AT&T, Reboxed Limited, NIPPON TELEPHONE INC., Best Buy Co. Inc and Woot Inc, etc. In 2023, the global top five players have a share approximately % in terms of revenue.
Cost Savings: One of the primary drivers for purchasing refurbished smartphones is cost savings. On average, consumers can save between 30% to 50% compared to buying new devices.
Brand Popularity: Apple and Samsung dominate the refurbished smartphone market. In 2022, Apple accounted for nearly 40% of the refurbished smartphone sales, while Samsung followed closely with 25%.
E-Waste Reduction: The shift towards refurbished smartphones contributes significantly to reducing electronic waste. Each refurbished phone prevents approximately 50 kg of e-waste, which is crucial given the growing environmental concerns.
Carbon Footprint: Buying a refurbished smartphone can reduce the carbon footprint by 80% compared to purchasing a new one. This reduction is due to the lower energy consumption involved in refurbishing a device compared to manufacturing a new one.
Quality Assurance: Improved refurbishment processes and stringent quality checks have enhanced consumer trust. Over 85% of refurbished smartphone buyers report satisfaction with their purchase, citing quality and reliability as key factors.
Warranty and Support: Most refurbished smartphones now come with warranties ranging from 6 months to 1 year, which has bolstered consumer confidence in these products.
Leading Markets: North America and Europe are the largest markets for refurbished smartphones, together accounting for over 60% of global sales. However, emerging markets in Asia-Pacific and Latin America are showing rapid growth rates due to increasing smartphone penetration and economic factors.
Online vs. Offline Sales: Approximately 70% of refurbished smartphone sales occur online, driven by e-commerce platforms like Amazon Renewed, Back Market, and Gazelle. Offline sales, though smaller, are growing through retail chains and carrier stores offering trade-in programs.
The refurbished and used smartphone market is poised for continued growth as more consumers recognize the benefits of cost savings and environmental sustainability.
We surveyed the Used and Refurbished Smartphone manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Used and Refurbished Smartphone Market, by Price Range, 2018-2023, 2023-2032 ($ Millions) & (K Units)
Global Used and Refurbished Smartphone Market Segment Percentages, by Price Range, 2023 (%)
