Exploring the Refurbished and Used Mobile Phones Market: Growth Projections, Key Segments, and Regional Trends by 2031

WILMINGTON, NEW CASTLE, DE, UNITED STATES, November 28, 2024 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global refurbished and used mobile phones market was estimated at $52 billion in 2021 and is expected to hit $145.9 billion by 2031, registering a CAGR of 11.2% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

🔰 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/A53443

A refurbished and used mobile phones refers to a handset that has been returned by the consumer to the manufacturer which may or may not have kind of fault, which is then repaired by the manufacturer and is sold with a refurb tag. Before sending the device out into the market, the manufacturer ensures that the device has been thoroughly checked, and tested, and is functioning well. A refurbished phone choice depends on who refurbished the phone. There are two types of refurbished phones, including manufacturer-refurbished and seller-refurbished phones. The growth of online platforms offering refurbished smartphones has increased market penetration, especially in emerging economies. The easy availability of refurbished and used mobile phones on e-commerce platforms and the discounts offered to attract new customers. Therefore, a rise in e-commerce platforms creates a demand for refurbished and used mobile phones.

Rise in consumer dependency on smartphone devices globally and increase in the number of companies providing EMI options for phone drive the growth of the market. In addition, the cost-efficient benefits of refurbished and used mobile phones are fueling the growth of the refurbished and used mobile phones market size. However, the scarcity of top models and limitation in warranty period of refurbished and used mobile phones limit the growth of the market. Conversely, rise in adaption of e-commerce platforms among buyers and sellers is anticipated to provide numerous opportunities for the expansion of the market during the forecast period.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By type, the refurbished phones segment accounted for the largest refurbished and used mobile phones market share in 2021.
Region-wise, North America generated the highest revenue in 2021.
On the basis of application, the individual segment generated the highest revenue in 2021.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/refurbished-and-used-mobile-phones-market/purchase-options

The global refurbished and used mobile phones market is analyzed across type, price range, application, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.

𝐁𝐲 𝐭𝐲𝐩𝐞, the used phone segment held the largest share in 2021, garnering more than half of the global refurbished and used mobile phones market revenue, and is projected to maintain its dominance by 2031. The refurbished phone segment, on the other hand, would showcase the fastest CAGR of 12.5% during the forecast period.

𝐁𝐲 𝐩𝐫𝐢𝐜𝐞 𝐫𝐚𝐧𝐠𝐞, the low price (below $200) segment contributed to more than half of the global refurbished and used mobile phones market share in 2021 and is projected to rule the roost by 2031. The mid-price ($200 to $500) segment, on the other hand, would display the fastest CAGR of 13.2% throughout the forecast period. The premium (above $500) segments are also analyzed in the report.

𝐁𝐲 𝐚𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧, the individual segment accounted for the highest share in 2021, generating around one-third of the global refurbished and used mobile phones market revenue. The same segment would also showcase the fastest CAGR of 12.2% from 2022 to 2031. The businesses segments are also analyzed in the report.

𝐁𝐲 𝐫𝐞𝐠𝐢𝐨𝐧, Asia-Pacific held the major share in 2021, garnering more than two-thirds of the global Refurbished and used mobile phones market revenue. The same region would also showcase the fastest CAGR of 13.4% from 2022 to 2031. The other provinces assessed through the report include North America, Europe, and LAMEA.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/A53443

The key market players analyzed in the global refurbished and used mobile phones market report include Apple Inc., Amazon, Samsung, Verizon Communications, Inc, Cashify, Walmart, eBay, Paytm, Huawei, and AT&T Inc. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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