NEW YORK, May 27, 2022 /PRNewswire/ — The refurbished smartphone market size is anticipated to increase by USD 45.98 billion from 2021 to 2026, according to the latest market analysis report by Technavio. The report identifies the market to witness an accelerating growth momentum at a CAGR of 13.69% during the projected period. The market is anticipated to witness positive growth during the forecast period due to the circular economy and sustainability. In addition, the growing number of online platforms dealing in refurbished smartphones is a refurbished smartphone market trend that is expected to have a positive impact in the coming years. However, the easy availability of smartphones on e-commerce will be a major challenge for the refurbished smartphone market during the forecast period.
Market Dynamics
Refurbished Smartphone Market Vendor Landscape
- The market is concentrated, and the degree of concentration will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
- Alibaba Group Holding Ltd., Apple Inc., AT and T Inc., Back Market, Best Buy Co. Inc., CHINAREPHONE, eBay Inc., FoneGiant.com, Gadgetwood E-Services Pvt. Ltd., Manak Waste Management Pvt Ltd., NIPPON TELEPHONE INC., One97 Communications Ltd., Qarmatek Services Private Ltd., Quikr India Pvt. Ltd., Reboxed Ltd., Samsung Electronics Co. Ltd., Smart Cellular, Verizon Communications Inc., Walmart Inc., and Amazon.com Inc. are among some of the major market participants.
