New York City, NY -- (SBWire) -- 08/08/2017 --In 2017, global sales of used and refurbished mobile phones are estimated to account for revenues worth US$ 19,715.1 MN; this no. is expected to reach about US$ 40,000Mn by 2025 end.
The leading manufacturers engaged in global mobile phone industry adopting green initiatives by recycling and reusing their marketed products to sustain the market
Massive reduction in customer cell phone usage cycle observed due to rapid changes in technology, introduced recent innovating gadgets and their acceptance updated features
Branded used and Refurbished Cell Phones to Remain the Choice of Consumers in the Market
Branded used and Refurbished Cell Phones to Remain the Choice of Consumers in the Market, which leads to expanding at high single- digit CAGR through 2015. Amongst overall segments in refurbished and used cell phone market, the mid- priced brands will note comparatively higher revenue than low- priced brand cell phone segment by 2025-end.
In terms of value, though the consumer owned market type is expected to dominant in the market, company –owned segment is expected to record fastest expansion by 2015. Sales of used and refurbished cell phones within company owned and consumer owned markets will together account for 277 Mn units by 2025-end.
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The U.S. will continue Leading in North American Used and Refurbished Cell Phone Market
According to investigation of U.S. EPA (U.S. Environmental Protection Agency) in the past decade environmental waste witnessed increased 120%, out of that 25% waste subjected to recycle and reuse. In order to overcome such issues, the North American countries such as the US and Canada have imposed stringent regulations for e-waste regulation. Additionally, increased environmental effect of E-wastes such as leakage of toxic substances has become a major setback for North America. The recycling and use of electronic instrument directly affects expected results of U.S.EPA's mission. In North America such factors are projected to drive the growth and acceptance of used and refurbished cell phones. The forecasters expects the U.S. to be the most lucrative country for the growth of budding used cell phone and refurbished market in North America with projected sales at 7.5% CAGR through 2025.
However, refurbished cell phone's categorization as second-hand phones, generating biased notions among North American consumers regarding quality of such cell phones. This is unexpectedly the barrier behind gain of used and refurbished phone market in the region.
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Japan to Remain Major Market for Used and Refurbished Cell Phones in APAC
Japan to Remain Major Market for Used and Refurbished Cell Phones in APAC, additionally, the China market will record quickest expansion at a high double- digit CAGR through 2025. In developing countries such as APAC there had been an exponential growth in demand for smartphones, owing to increasing availability and adoption of advanced communication devices by ever- rising population in these economies. Propagating presence of emerging players such as Overcart, Greendust.com and Reboot in Asia Pacific countries such as India has opened new boulevards of online business stores for selling used and refurbished goods. This further assists cell phone manufacturers to maintain inventories and restock situations. The above-mentioned factors estimates to lubricate growth of the used and refurbished mobile phone market in APAC.
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In APAC maintenance of distribution channel is difficult due to limited availability and clumsy supply chain of refurbished and used cell phones. Again refurbished market is practically under organized sector. Which in turn become challenging while building a strong distribution channel for such recycle goods. Above factors expected to limit the growth of market in APAC.
Key market players identified in PMR's report include Apple, Inc., Redeem UK Ltd. Samsung Electronics Co. Ltd., Amazon.com Inc., Kempf Enterprises Ltd , Outerwall Inc, Reboot, Overcart, FoneGiant.com, Synergy Telecom Inc, NIPPON TELEPHONE INC., Lenovo Group Limited, ,Verizon Communications, Inc, Green Dust Pvt. Ltd., HYLA Mobile, Inc, Hutchison 3G UK Limited, AT&T Inc., BestBuy.com, LLC.
Refurbished and Used Mobile Phones Market to Rise at 8.9% CAGR by 2025
The global refurbished and used cell phone market is to register imposing expansion at 8.9% CAGR through 2017-2025 according to PMR’s (Persistence Market Research) recent forecast.