Global Refurbished Smartphone Market Insights Forecasts to 2034

• The Global Refurbished Smartphone Market Size was Valued at USD 81,850.50 Million in 2024
• The Market Size is Growing at a CAGR of 12.10% from 2024 to 2034
• The Worldwide Refurbished Smartphone Market Size is Expected to Reach USD 256,415.90 Million By 2034
• North America is Expected to Grow the fastest during the forecast period.

The Global Refurbished Smartphone Market Size is Anticipated to Exceed USD 256,415.90 Million By 2034, Growing at a CAGR of 12.10% from 2024 to 2034.

Market Overview

Refurbished smartphones are pre-owned phones that have been restored to their original condition and resold at a discount on the price of the new phones. The refurbished smartphone provides cost-effective alternatives for consumer rising demand. Refurbished smartphones are environmentally friendly to reduce e-waste and are cost-effective for people who want high-quality smartphones but don’t want to pay full price for brand-new smartphones.

The refurbished smartphone market growing due to its cost-saving benefits and positive environmental impact. The sector helps reduce e-waste and conserves resources. Consumer trust is vital for improving refurbishment technologies and quality assurance programs. Additionally, improving methods of refurbishment, as well as growing consumer awareness drive the market growth worldwide.

The key players in the refurbished smartphones market are Decluttr, Blinq, MusicMagpie, The iOutlet, Amazon Renewed, Swappa, Quick Mobile Fix, GameStop, Gazelle, Back Market, Best Buy Outlet, Samsung Certified Pre-Owned, Apple Certified Refurbished, BuyBackWorld, Glyde, and Others.

For Instance, In August 2024, ControlZ, a key company in the refurbished smartphone market, launched the refurbished iPhone 14 on its website. The company wants to provide users with a high-quality, low-cost alternative to purchasing a new iPhone.

Report Coverage

This research report categorizes the market for refurbished smartphone based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the refurbished smartphone market. Recent market developments and competitive strategies such as expansion, product launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the refurbished smartphone market.

Driving Factors

The refurbished smartphone market is propelled by cost savings, environmental concerns, and improved refurbishing technologies. With rising discussions of e-waste, consumers are turning increasingly to refurbished smartphones as a more budget-friendly and environmentally sound substitute for newly manufactured brands.  Advances in refurbishment technology and quality control ensure that refurbished smartphones offer performance comparable to new ones. Extended warranties provide additional consumer confidence, while the availability of older models provides specific user preferences. The rise of online marketplaces and dedicated refurbishment companies has expanded access, and growing consumer acceptance further fuels market growth worldwide.

Restraining Factors

The growth of the refurbished smartphone market is hindered by several factors including concerns about quality, limited warranties, and perceived value compared to new devices. Consumers might be concerned about the dependability and functionality of refurbished phones, particularly when warranties are limited. Furthermore, the restricted availability of models and the lack of consistency in refurbishing methods might impact consumer confidence. Additionally, a lack of awareness about the benefits of refurbished devices, potential technical issues, and lower resale values constrain the market growth worldwide.

Market Segmentation

The refurbished smartphone market share is classified into type, operating system, price range, distribution channel, and end-user.

• The OEM refurbished segment is estimated to hold the highest market revenue share through the projected period.

Based on the type, the refurbished smartphone market is classified into OEM refurbished, third-party refurbished, and others. Among these, the OEM refurbished segment is estimated to hold the highest market revenue share through the projected period. The OEM refurbished segment is driven by its superior quality assurance, brand credibility, and comprehensive warranties. Refurbished by the original manufacturers or their authorized partners, these devices benefit from high trust levels and reliability, making them more appealing to consumers compared to third-party refurbished options. The strong brand endorsement and robust support offered with OEM refurbished smartphones contribute to their dominant market position and higher revenue potential.

• The Android segment is anticipated to hold the largest market share through the forecast period.

Based on the operating system, the refurbished smartphone market is divided into Android and iOS. Among these, the Android segment is anticipated to hold the largest market share through the forecast period. The Android segment is dominated by the extensive variety of Android devices, which results in a higher volume of refurbished units available. The affordability of Android smartphones makes them an attractive option for cost-conscious consumers, while the wide range of models provides diverse preferences and budgets. Additionally, Android's strong market presence, particularly in emerging regions, further bolsters its dominant position in the refurbished smartphone market.

• The low range segment dominates the market with the largest market share through the forecast period.

Based on the price range, the refurbished smartphone market is categorized into low range, medium range, and premium range. Among these, the low range segment dominates the market with the largest market share through the forecast period. The low range segment dominated due to affordability, which appeals to a broad range of consumers, including budget-conscious buyers and those in emerging markets. The high volume of low-priced models available for refurbishment and the increasing demand for cost-effective alternatives further bolster low range segment's market share. Additionally, the low-range segment provides a wide audience by offering an economical entry point into smartphone ownership, driving its leading position in the refurbished market.

• The online segment is anticipated to grow at the fastest CAGR growth through the forecast period.

Based on the distribution channel, the refurbished smartphone market is categorized into offline, and online. Among these, the online segment is anticipated to grow at the fastest CAGR growth through the forecast period. The online segment growth is propelled due to the convenience and accessibility of online shopping, which allows consumers to easily browse and purchase refurbished smartphones from home. The expansion of internet access and the growing trend of digitalization further support this shift. Additionally, the COVID-19 pandemic accelerated the move towards online shopping due to its safety and convenience.

Regional Segment Analysis of the Refurbished Smartphone Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the refurbished smartphone market over the predicted timeframe.

Asia Pacific is anticipated to hold the largest share of the refurbished smartphone market over the predicted timeframe. The Asia Pacific region's dominance is attributed to the region's vast and growing consumer base, high smartphone penetration, and rising demand for affordable mobile devices. Factors such as a burgeoning middle class, rapid technological adoption, and a strong presence of refurbishment hubs and e-commerce platforms contribute to Asia-Pacific's leading position in the global market. 

North America is expected to grow at the fastest CAGR growth in the refurbished smartphone market during the forecast period. This growth is driven by increased consumer awareness of the benefits of refurbished devices, such as cost savings and environmental impact. The region's advanced technological infrastructure, strong e-commerce growth, and economic factors favoring affordable and sustainable options further boost demand. Additionally, corporate adoption of refurbished smartphones for cost management and sustainability supports the market's rapid expansion in North America.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the refurbished smartphone market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Decluttr
• Blinq
• MusicMagpie
• The iOutlet
• Amazon Renewed
• Swappa
• Quick Mobile Fix
• GameStop
• Gazelle
• Back Market
• Best Buy Outlet
• Samsung Certified Pre-Owned
• Apple Certified Refurbished
• BuyBackWorld
• Glyde
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In March 2024, Orange Belgium launched a new webshop for refurbished devices, supported by partner Recommerce.  With this new platform, Orange Belgium will expand its selection of used devices to include over 8,500 refurbished smartphone references.

• In April 2024, Apple announced a future update to existing repair methods, allowing customers and independent repair providers to use used Apple parts in repairs.

• In August 2023, ReFit Global, India's largest re-commerce marketplace for pre-owned smartphones, expanded into a direct-to-consumer service, unleashing the potential of a $10 billion sector, with the launch of RefitGlobal.com.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2024 to 2034. Spherical Insights has segmented the refurbished smartphone market based on the below-mentioned segments: 

Global Refurbished Smartphone Market, By Type

• OEM Refurbished
• Third-Party Refurbished
• Others

Global Refurbished Smartphone Market, By Operating System

• Android
• iOS

Global Refurbished Smartphone Market, By Price Range

• Low Range
• Medium Range
• Premium Range

Global Refurbished Smartphone Market, By Distribution Channel

• Offline
• Online

Global Refurbished Smartphone Market, By End-User

• Individual Consumers
• Business Users
• Educational Institutions
• Government and Public Sector
• Others

Global Refurbished Smartphone Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa