Global Market Study on Refurbished and Used Mobile Phones: Increasing Initiatives to reduce e-Waste Driving Market Growth


Refurbished And Used Mobile Phones  Market
  • Published On : Jan-2020 |
  • Pages : 301 Pages |
  • Format : Refurbished And Used Mobile Phones  Market Refurbished And Used Mobile Phones  Market Refurbished And Used Mobile Phones  Market Refurbished And Used Mobile Phones  Market

Increasing usage of electronic products and rapidly changing technologies are e-waste volumes in both, developed as well as developing regions. In the recent past, it has been observed that, people replace electronic goods such as smartphones and other electronic gadgets if the device breaks down, slows down, or if a new model is available in the market. These factors are increasing e-waste massively across the world. The need to curtail e-waste is expected to positively affect the growth of the global refurbished and used mobile phones market during the forecast period.

  • As per the U.S. EPA, electronic waste grew 120% between 1999 and 2009. Only 25% of the 2.4 million tons of disposed electronics were collected for reuse or recycling. Considering the same scenario, countries in the North American region, such as the U.S and Canada, are putting in place strict regulations regarding e-waste, which is expected to pilot the growth of the refurbished and used mobile phones market.
  • The Solid Waste Disposal Act (SWDA) is an Act of Congress passed in 1965. The objective of SWDA is to reduce waste, and protect human and environmental health.

Adoption of Sustainability Driving Refurbished and Used Mobile Phones Market

Refurbished phones usually have extremely minor defects, which is why they are sold at lower prices. If these minor defected products are dumped, it causes environmental issues. As such refurbished phones indirectly aid sustainability by allowing the utilization of old resources and saving efforts of manufacturing new products, which is positively supporting the growth of the refurbished and used mobile phones market.

For instance, Samsung Electronics America Inc., a manufacturer of electronic goods, incited the U.S. Note7 Refund and Exchange Program. Under this program, Galaxy Note 7 is either exchanged with other Samsung smartphones or the customer can opt for a product refund. Such green initiative programs assist the company in examining its own product delivery, and deliver quality with building brand image in the market.

Emerging Certified Pre-owned Market for Smartphones

The pre-owned business is designed for customers who are looking for quality tested and certified pre-owned electronic goods with optimum value. In a pre-owned market, sellers strictly inspect smartphones for issues that may have developed when the phone was originally shipped from the factory. It has been observed that, several sellers from pre-owned markets are selling electronic goods at low costs, with aftersales services and decent warranty periods. The emergence of the pre-owned market for smartphones, and the entrance of players and original equipment manufacturers (OEMs) are major factors that are driving the growth of the global refurbished and used mobile phones market.

Lack of Consumer Trust Restricting Growth of Refurbished and Used Mobile Phones Market

Refurbished phones are categorized as used hand phones, owing to which, customers have pre-conceived notions about the quality of the phone, and tend to avoid purchasing such refurbished phones. Further, lack of awareness about the quality check process creates a purchasing dilemma, which results in consumer misconception about the quality and features of refurbished phones. Hence, consumers in most countries prefer to buy latest smartphones with advanced features and latest technologies, rather than buying a refurbished phone. This is a major reason negatively impacting the growth of the refurbished and used mobile phones market.

Asia Pacific Excluding Japan Refurbished and Used Mobile Phones Market to Display High Growth Potential

The refurbished and used mobile phones market in Asia Pacific Excluding Japan is expected to witness high growth during the forecast period. In Asia Pacific, e-Commerce has transformed the way business is done in several countries. It is forecasted that, in the coming years, e-Commerce is expected to boom in the Asia Pacific region. e-Commerce vendors are finding lucrative business opportunities to expand as refurbished phone traders and service providers. Emergence of e-Commerce portals as refurbished phone providers is expected to open new growth and business opportunities for the refurbished and used mobile phones market. In addition, tier-1 and tier-2 cities in Asia Pacific are witnessing high mobile phone switching rates, owing to various attractive offers and discounted prices.

 Refurbished and Used Mobile Phones Market - Analysts’ Viewpoint

A comprehensive view of the refurbished and used mobile phones market has led our analysts to conclude that, the market is growing at a remarkable rate. Asia Pacific Excluding Japan holds a large share of the global refurbished and used mobile phones market. Among the brand segments, the mid-priced brands segment is expected to grow rapidly, as consumers are willing to spend on refurbished phones that cost between US$ 200 to 400, rather than spending more than US$ 500 on a new phone. Partnerships and collaborations with resellers are some strategies key players are opting for to boost their sales of refurbished and used mobile phones

Refurbished and Used Mobile Phones Market – Scope of the Report

Persistence Market Research (PMR) recently published a new research analysis on the refurbished and used mobile phones market for the assessment period of 2019-2029. The research study on the refurbished and used mobile phones market offers a close look at the evolving aspects of refurbished and used mobile phones, as well as the dynamics impacting the market growth. The research study focuses on the key developments that have made their mark in the refurbished and used mobile phones market, and other developments that are on the cards. The report talks about various macro- and micro-economic factors responsible for having an in-depth impact on the growth of the refurbished and used mobile phones market space.

A direct market overview provides the growth scenario and market potential with maximum precision, which is adjudged with suitable assumptions. The report features unique and relevant factors that are likely to have a significant impact on the refurbished and used mobile phones market during the forecast period. This report includes a detailed and considerable amount of information, which will help new resellers in the most comprehensive manner for better understanding.

Several stakeholders in the refurbished and used mobile phones market can rely on the data offered in this research study, and delve into pragmatic decision-making. Moreover, information offered in the refurbished and used mobile phones market report also helps new market entrants expand their bases in the refurbished and used mobile phones market landscape.

The report elaborates the historical and current trends molding the growth of the refurbished and used mobile phones market. The performance journey of the refurbished and used mobile phones market has been drawn and analyzed in way that the lucrative side of the market is evident to readers. The competitive landscape presented in the refurbished and used mobile phones market report gives a detailed outlook of profiles of key companies operating in the market, along with their differential strategies and key focus areas.

Refurbished and Used Mobile Phones Market: Segmentation

PMR’s research study on the global refurbished and used mobile phones market offers a detailed market taxonomy, wherein, key segments have been discussed in detail. The segmentation of the refurbished and used mobile phones market has been offered on the basis of type, brand, and region. Every segment has been analyzed in detail, and data pertaining to the growth of each segment has been included in the study.

 Type

Brand

Region

Company-owned

Low-priced Brands

North America

Consumer-owned

Mid-priced Brands

Latin America

 

Premium Brands

Western Europe

 

 

Eastern Europe

 

 

Asia Pacific Excluding Japan

 

 

Japan

 

 

Middle East and Africa

Refurbished and Used Mobile Phones Market: Key Questions Answered in Report

The research study on the refurbished and used mobile phones market offers inclusive insights about the growth of the market in the most comprehensible manner for the better understanding of users. Insights offered in the refurbished and used mobile phones market report answer some of the most salient questions that assist stakeholders in gauging all the emerging possibilities.

  • How has the rapidly changing business environment turned into a major growth engine for the refurbished and used mobile phones market?
  • What are the key trends that are constantly shaping the growth of the refurbished and used mobile phones market?
  • Which are the prominent regions offering plentiful opportunities for the refurbished and used mobile phones market?
  • What are the key differential strategies adopted by key players to command a significant chunk of the global market share?

Refurbished and Used Mobile Phones Market: Research Methodology

A unique and promising research methodology forms the base of the refurbished and used mobile phones market during the forecast period. The report has been prepared after a comprehensive analysis of market happenings, and then, riveting insights have been compiled meticulously. The research methodology of the refurbished and used mobile phones market has been a two-step process that comprises primary and secondary research. Key stakeholders, which include refurbished and used mobile phones manufacturers, suppliers, and distributors, have been interviewed, including experts such as executive vice presidents, directors, service engineers, technical advisors, GM marketing professionals, and sales professionals.

Secondary sources referred to garner report findings include investor presentations of manufacturers, World Bank, and many other credible sources.

Companies covered in Refurbished And Used Mobile Phones Market Report

  • Apple Inc.,
  • Samsung Electronics.
  • Lenovo Group Limited
  • Amazon
  • Redeem UK Ltd.
  • Reboot
  • FoneGiant.com
  • Synergy Telecom Inc.
  • NIPPON TELEPHONE INC.
  • Verizon Communications, Inc.
  • togofogo
  • Hutchison 3G UK Limited
  • BestBuy.com, LLC 
  • AT&T Inc. 
  • Green Dust Pvt. Ltd. 
  • Kempf Enterprises Ltd

Refurbished And Used Mobile Phones Market

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