Refurbished and used mobile phones Market to reach $145.9 billion by 2031 To Factors That Can Win the Industry Globally
Sustainability awareness, cost-effectiveness, and improved product quality drive growth in the Refurbished and Used Mobile Phones Market.
PORTLAND, ORIGON, UNITED STATES, September 15, 2023/EINPresswire.com/ — 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.
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COVID-19 scenario:
► COVID-19 has had a significant impact on the demand for iPods and old phones. In general, the demand is evident to be high as the demand for smartphones has significantly increased with the shift of work and education on an online basis. Refurbished smartphones are handsets owned by someone else and then have been restored and sold in working condition by a reseller.
► On the other end, acceptance of refurbished items will help create employment opportunities for more technicians and engineers. It will also present the opportunity for small businesses to expand. Such developments helped the growth of the refurbished and used mobile phones market during Covid-19 period.
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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.
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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.
Key Market Players:
► Apple Inc.
► Amazon
► Samsung
► Verizon Communications, Inc
► Cashify
► Walmart
► eBay
► Paytm
► Huawei
► AT&T Inc
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Similar Report:
1. U.S. Refurbished and Used Mobile Phones Market
2. Canada Refurbished and Used Mobile Phones Market
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