The global second-hand device market is expected to surge to 413 million units by 2026
Analyst International Data Corporation (IDC) estimates that global shipments of pre-owned smartphones, including officially refurbished and pre-owned smartphones, will reach 282.6 million units in 2022.
This increase represents an 11.5% increase from the 253.4 million units shipped in 2021. IDC estimates that second-hand smartphone shipments will reach 413.3 million units in 2026, and from 2021 to 2026.
Trade-in programs will drive the global new and used smartphone market.
“We have witnessed the successful launch of new programs in multiple regional markets where trade-in is still a new concept for local consumers. Additionally, in mature markets such as the US, Canada and Western Europe, trade-ins continue to play an important role in speeding up refresh cycles through telco- and retail-led promotions. This contributes to the typical trade-in value (TIV) increase when demand for new devices is low. The rise of TIV has pushed up prices in the secondary market as consumers buy older devices to encourage upgrades. ” Anthony ScarcellaIDC Research Manager Quarterly cell phone tracker worldwide.
“Since many of these active trade-in deals are primarily for premium devices, increased sales of higher-priced devices in new markets are also creating a cyclical effect. How long these aggressive trade-in offers last is a big question for buyers and sellers. Ultimately, tight margins impact the overall profit of the channel, the vendor, or both.
“The second-hand market was able to grow 11.5% in 2022, thanks to the 6.1% recovery seen in new markets in 2021. Second-hand devices have shown more resilience to market impediments than new smartphone sales, and attractive price points are important for growth as cost savings continue to be the main advantage. , prices rose more than 11% in 2022 as high-end inventory struggled due to longer refresh cycles in new markets.