Global Used Smartphone Market Overview
As per MRFR analysis, the Used Smartphone Market Size was estimated at 30.5 (USD Billion) in 2022.
The Used Smartphone Market Industry is expected to grow from 35.11(USD Billion) in 2023 to 124.6 (USD Billion) by 2032. The Used Smartphone Market CAGR (growth rate) is expected to be around 15.11% during the forecast period (2024 - 2032).
Key Used Smartphone Market Trends Highlighted
The main drivers pushing the used smartphone market ahead are soaring demand for low prices, durability and product range. Economic challenges have made people appreciate the cost-effectiveness of these gadgets. Alongside this, the growing concern for the environment promotes the recycling and reuse of electronic products, thereby encouraging growth in the used smartphone industry.
Emerging markets are offering significant opportunities for growth due to their large populations and price-conscious customers. The proliferation of e-commerce platforms and online marketplaces has further extended its reach on used devices.
Selling or buying a used smartphone has been made more straightforward through online marketplaces as well as device trade-in programs. Artificial Intelligence (AI) is also transforming the market by automating device grading and pricing, resulting in increased efficiency and customer satisfaction rates. Moreover, subscription-based modes and leasing alternatives for devices are being viewed as more attractive options that meet changing consumer requirements, such as flexibility and affordability.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Used Smartphone Market Drivers
Rising Popularity of Refurbished and Pre-Owned Devices
The growing popularity of refurbished and pre-owned devices is a major driver of the Used Smartphone Market Industry. As consumers become more environmentally conscious and budget-conscious, they are increasingly turning to refurbished and pre-owned devices as a viable alternative to new smartphones. Refurbished and pre-owned devices offer consumers a more affordable way to own a smartphone while also reducing electronic waste and promoting sustainability.The availability of a wide range of refurbished and pre-owned devices from various brands and models further contributes to the growth of this market. Additionally, the increasing availability of reliable warranty and support services for refurbished and pre-owned devices is boosting consumer confidence in these devices, further driving the growth of the Used Smartphone Market Industry.
Technological Advancements and Innovation
Technological advancements and innovation are continuously driving the growth of the Used Smartphone Market Industry. The introduction of new smartphone models and features has led to a shorter lifespan for smartphones, resulting in a larger pool of used smartphones available for purchase. Additionally, advancements in smartphone technology, such as improved camera quality, faster processors, and larger displays, are making used smartphones more attractive to consumers as they can access high-end features at a more affordable price.Furthermore, the development of new technologies, such as artificial intelligence (AI) and machine learning (ML), is enabling the development of advanced refurbishment techniques, which can enhance the quality and performance of used smartphones, further driving the growth of the Used Smartphone Market Industry.
Growing Online Marketplaces and E-commerce Platforms
The growth of online marketplaces and e-commerce platforms is another key driver of the Used Smartphone Market Industry. These platforms provide consumers with a convenient and accessible way to buy and sell used smartphones. The wide selection of used smartphones available on these platforms, combined with the ease of comparison shopping and secure payment options, is attracting a growing number of consumers to purchase used smartphones online.Furthermore, the increasing presence of reputable and established players in the online marketplace further enhances consumer confidence and trust in the market for used smartphones, contributing to the growth of the Used Smartphone Market Industry.
Used Smartphone Market Segment Insights
Used Smartphone Market Condition Insights
The Used Smartphone Market is segmented based on condition into Certified Pre-Owned, Refurbished, and Used. Over the forecast period, Certified Pre-Owned is likely to be among the most significant sectors in terms of market share. The popularity of certified pre-owned gadgets that have been subjected to extreme tests and come with warranties for peace of mind is one reason for this category’s growth. By 2023, the Certified Pre-Owned segment will contribute to about 40% of the total Used Smartphone Market revenue valued at approximately USD 35.11 billion.
Additionally, the Refurbished sector is projected to grow considerably during the forecast period. Poorly maintained but profitable refurbished smartphones serve as a cheaper option to consumers who prefer secondhand high-end phones. It is expected that by 2023, the Refurbished segment will account for approximately 30% of all market sales. On its part, Used Segment (which includes devices sold without any certification or warranty) should take up a smaller share than the Certified Pre-Owned and Refurbished segments.
However, this portion may still grow further because of the presence of cheap second-hand smartphones that are targeted at price-sensitive individuals. The overall segmentation of the Used Smartphone Market by condition offers information regarding customers’ preferences and purchasing behavior. Meanwhile, there is a growing demand for certified used or refurbished mobiles motivated by pricing concerns, warranty and quality, among others, while the segment dealing with secondhand phones is still important to those who are more concerned about spending less money. These valuable inputs help firms identify specific consumer segments they want to serve in their marketing strategies.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Used Smartphone Market Brand Insights
The Used Smartphone Market is segmented by Brand, with major players including Apple, Samsung, Google, OnePlus, and Xiaomi. The Brand segment is expected to grow significantly over the forecast period, driven by increasing demand for high-quality and affordable used smartphones. Apple is expected to continue to dominate the Brand segment, with a market share of over 50% in 2024. The company's strong brand reputation and loyal customer base are key drivers of its success in the used smartphone market. Samsung is expected to be the second-largest player in the Brand segment, followed by Google, OnePlus, and Xiaomi.The growth of the Brand segment is being driven by several factors, including the increasing popularity of used smartphones, the growing number of smartphone users, and the increasing availability of used smartphones through online platforms. The Brand segment is expected to continue to grow over the forecast period as more and more consumers opt for used smartphones as a cost-effective alternative to new smartphones
Used Smartphone Market Operating System Insights
The Operating System segment of the Used Smartphone Market is largely influenced by the popularity and market penetration of different mobile operating systems. In 2023, the Android operating system held a dominant share of the used smartphone market, accounting for approximately 85% of the global market revenue. This dominance is primarily driven by the vast ecosystem of Android devices, its open-source nature, and its widespread adoption by manufacturers. In contrast, iOS, the operating system used exclusively by Apple devices, held a smaller but significant share of the market, accounting for approximately 13% of global revenue in 2023.iOS devices are known for their premium build quality, user-friendly interface, and strong brand loyalty, which contribute to their popularity in the used smartphone market. The remaining market share is captured by other operating systems, such as Windows Phone and BlackBerry OS, which have a limited presence in the Used Smartphone Market. The growth of the used smartphone market is expected to be driven by several factors, including increasing consumer demand for affordable devices, advancements in smartphone technology, and the growing popularity of online marketplaces.As technology continues to evolve and new models are released, the demand for used smartphones is likely to remain strong.
Used Smartphone Market Price Range Insights
The Used Smartphone Market can be segmented by price range, with the low, mid, high, and premium categories comprising a significant portion of the market. In 2023, the low-price range segment (under $200) is expected to account for a revenue of 15.2 billion USD. The mid-price range segment ($200-$500) is projected to witness a substantial growth rate of 17.3% during the forecast period, reaching a valuation of 22.1 billion USD by 2032. The high price range segment ($500-$1000) is anticipated to maintain steady growth, generating a revenue of 19.4 billion USD by 2032.The premium price range segment (above $1000) is expected to experience a surge in demand, driven by the increasing popularity of flagship smartphones, and is projected to reach a valuation of 17.9 billion USD by 2032.
Used Smartphone Market Sales Channel Insights
The Used Smartphone Market is segmented into various sales channels, including Online Marketplaces, Retail Stores, Carrier Stores, and Independent Resellers. Among these, Online Marketplaces hold a significant market share due to the convenience and wide selection they offer. In 2023, the revenue generated through Online Marketplaces in the Used Smartphone Market was estimated to be around USD 15.6 billion, which is projected to grow to USD 32.1 billion by 2032, exhibiting a CAGR of 9.5%. Retail Stores, such as electronics stores and department stores, also contribute to the Used Smartphone Market.In 2023, they accounted for a revenue of approximately USD 10.4 billion, and this figure is expected to reach USD 21.6 billion by 2032, growing at a CAGR of 8.9%. Carrier Stores, owned by network providers, offer used smartphones along with new devices and subscription plans. Their revenue in the Used Smartphone Market was valued at USD 6.8 billion in 2023 and is projected to expand to USD 14.2 billion by 2032, with a CAGR of 8.5%. Independent Resellers, including small businesses and individuals selling used smartphones through platforms like eBay and Craigslist, generated revenue of around USD 2.3 billion in 2023.This segment is expected to grow at a CAGR of 7.9%, reaching USD 4.7 billion by 2032.
Used Smartphone Market Regional Insights
The regional segmentation of the Used Smartphone Market exhibits diverse growth patterns and market dynamics. North America holds a significant market share, driven by factors such as high disposable income, rapid technology adoption, and a mature consumer base. Europe follows closely, with a large population of smartphone users and a strong preference for refurbished devices. The APAC region is projected to witness the fastest growth, owing to the increasing smartphone penetration rate and the growing middle class. South America and MEA regions are also expected to contribute to the overall market growth, with increasing urbanization and rising consumer spending power.This growth is primarily attributed to the increasing popularity of refurbished smartphones, environmental concerns, and the expanding online marketplace for used devices.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Used Smartphone Market Key Players And Competitive Insights
Major players in the Used Smartphone Market industry are constantly striving to gain a competitive edge by implementing various strategies. These strategies include expanding into new markets, introducing innovative products, and forming strategic partnerships. Leading Used Smartphone Market players are also focusing on enhancing their distribution channels and improving their customer service to meet the evolving needs of consumers. The Used Smartphone Market is expected to witness significant development in the coming years as the demand for used smartphones continues to rise. The Used Smartphone Market Competitive Landscape is characterized by intense competition among established players and emerging entrants.One prominent competitor in the Used Smartphone Market is Apple. The company has a strong presence in the premium smartphone segment and offers a wide range of used iPhones through its online store and authorized resellers. Apple is known for its high-quality products and reliable customer support, which has contributed to its strong brand reputation in the market. Furthermore, Apple's commitment to environmental sustainability and its trade-in programs have made it a popular choice for consumers looking to sell or purchase used iPhones.Another major player in the Used Smartphone Market is Samsung. The company offers a diverse portfolio of used smartphones across various price ranges. Samsung has a wide network of retail stores and online platforms, which provides consumers with convenient access to its used smartphone offerings. Samsung is also known for its innovative features and technologies, which have helped it gain a loyal customer base in the market. The company's focus on research and development and its commitment to customer satisfaction have contributed to its strong competitive position in the Used Smartphone Market.
Key Companies in the Used Smartphone Market Include
- TradeIn Tech
- SellCell
- Walmart
- MyPhones Unlimited
- Decluttr
- GameStop
- Tech Forward
- Best Buy
- Device Pitstop
- Gazelle
- MaxBack
- The Whiz Cells
- Target
- Apple
- Ubreakifix
Used Smartphone Market Industry Developments
The Used Smartphone Market is projected to reach USD 124.6 billion by 2032, exhibiting a CAGR of 15.11% during the forecast period (2024-2032). The market growth is primarily driven by the rising popularity of refurbished devices, increasing consumer preference for cost-effective options, and growing environmental concerns.Recent news developments in the market include the launch of Apple's iPhone Upgrade Program, which allows users to trade in their old iPhones for new ones at a discounted price. Additionally, Samsung has expanded its certified pre-owned program to offer a wider range of used devices. These initiatives by major players are expected to further fuel the growth of the used smartphone market.
Used Smartphone Market Segmentation Insights
- Used Smartphone Market Condition Outlook
- Certified Pre-Owned
- Refurbished
- Used
- Used Smartphone Market Brand Outlook
- Apple
- Samsung
- Google
- OnePlus
- Xiaomi
- Used Smartphone Market Operating System Outlook
- Used Smartphone Market Price Range Outlook
- Low (Under $200)
- Mid ($200-$500)
- High ($500-$1000)
- Premium ($1000+
- Used Smartphone Market Sales Channel Outlook
- Online Marketplaces
- Retail Stores
- Carrier Stores
- Independent Resellers
| Report Attribute/Metric |
Details |
| Market Size 2022 |
30.5(USD Billion) |
| Market Size 2023 |
35.11(USD Billion) |
| Market Size 2032 |
124.6(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
15.11% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
TradeIn Tech, SellCell, Walmart, MyPhones Unlimited, Decluttr, GameStop, Tech Forward, Best Buy, Device Pitstop, Gazelle, MaxBack, The Whiz Cells, Target, Apple, Ubreakifix |
| Segments Covered |
Condition, Brand, Operating System, Price Range, Sales Channel, Regional |
| Key Market Opportunities |
Key Market Opportunities in the Used Smartphone MarketIncreased environmental awareness Growing consumer concern over e-waste drives demand for refurbished and recycled devices Affordable devices for emerging markets: Used smartphones offer a cost-effective alternative to new models, particularly in developing countries. Expansion of online marketplaces Online platforms provides convenient and accessible channels for buying and selling used devices. Rise of subscription models Subscription services allow consumers to access premium devices at affordable monthly rates. The emergence of certified preowned programs Manufacturers and retailers offer certified preowned programs to ensure device quality and warranty |
| Key Market Dynamics |
Increasing demand for affordable devicesGrowing environmental awarenessRise of e-commerce platformsTechnological advancementsExpansion of organized retail channels |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Used Smartphone Market is expected to reach a global market size of USD 35.11 billion in 2023. The market is projected to grow from USD 35.11 billion in 2023 to USD 124.6 billion by 2032, exhibiting a CAGR of 15.11% during the forecast period.
North America, Europe, Asia-Pacific, and the Rest of the World are the key regions in the Used Smartphone Market. In 2023, North America accounted for the largest market share, followed by North America and Europe.
Some of the key competitors in the Used Smartphone Market are Back Market, Decluttr, Gazelle, MaxBack, and Swappa.
Smartphones are primarily used for various applications, including communication, entertainment, social networking, and productivity. They offer a cost-effective alternative to new smartphones while providing similar functionality.
The growth of the Used Smartphone Market is attributed to factors such as increasing consumer preference for affordable devices, advancements in technology leading to better-quality used smartphones, and growing environmental consciousness.
The Used Smartphone Market faces challenges related to data security and privacy concerns, lack of warranty and support, and variations in device quality.
Key trends in the Used Smartphone Market include the rise of online marketplaces, the adoption of artificial intelligence (AI) for device grading and pricing, and the growing popularity of subscription-based models.
Opportunities for growth in the Used Smartphone Market lie in expanding into emerging markets, developing innovative business models, and addressing consumer concerns related to data security and device quality.
The COVID-19 pandemic had a significant impact on the Used Smartphone Market, leading to supply chain disruptions and a shift toward online sales channels. However, the market is expected to recover and continue its growth trajectory in the post-pandemic period.
Regulatory considerations for the Used Smartphone Market vary by region and may include data protection laws, consumer protection regulations, and environmental regulations related to electronic waste management.
