Second-hand Electronic Products Market Analysis

Second-hand Electronic Products Market Analysis

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Based on product type, the market is divided into smartphones & tablets, TVs & audio-video devices, computers & laptops, cameras & lens, hard disks/printers and monitors, kitchen appliances, washing machines/refrigerators and others. The smartphone & tablets market segment held the largest share in 2023 of about 23% of the total industry. This segment is in huge demand due to the frequent upgrade cycles and high demand for these devices. Consumers tend to trade in or sell their used smartphones when they upgrade to newer models. The popularity of smartphones and tablets contributes to a robust market for used devices which is expected to propel the segment industry.

Based on end use, the second-hand electronic products market is categorized into individual and commercial. Commercial has the largest industry share, which is 69% of the total market due to businesses involved in the resale of refurbished electronics, electronic repair shops, or organizations looking to buy used electronics in bulk for their operations. Additionally, commercial entities often have the capacity to buy and sell electronic products in bulk. This allows them to negotiate better prices with suppliers and, in turn, offer competitive pricing to their customers.

Based on distribution channel, the second-hand electronic products market is divided into online and offline. Online is expected to dominate the segment market at the share of 65% due to the online platforms providing a global or at least a wider reach compared to offline stores. Sellers can connect with a larger audience, and buyers have access to a vast selection of products from different sellers, regions, and even countries.

The second-hand electronic products market witness’s revenue dominance in the forecast period primarily from the North America region, driven by a surging demand for Second-hand Electronic Products. North America region dominates the industry with a total share of 29% in the year 2023, this leading position is attributed to the increasing interest in second-hand electronic products as packaging industry and urbanization have expanded in the region. Forecasts suggest that this region will command a significant share of the global industry, propelled by rapid urbanization and economic growth. As urbanization gains momentum, a growing number of individuals are migrating to cities, elevating living standards, and presenting lucrative opportunities for the expansion of Second-hand Electronic Products. The rise in disposable income further contributes to this trend.