According to a recent Future Market Insights (FMI) report, the global refurbished computers and laptops market is expected to reach US$ 17,854.1 million by 2023. Over the next ten years, sales of refurbished laptops and computers are expected to increase at a CAGR of 10.2%. By the end of 2033, it is anticipated that the market will be worth US$ 47,303.2 million.
Refurbished computers and laptops refer to electronic computer devices that are sent to their manufacturer for their defects such as manufacturing defects, low performance, and damaged electronic parts. The manufacturers take these defective computers or laptops to scrutinize and repair the defective parts.
Refurbished devices undergo scrutiny and after detecting the defective parts, it all moves down to get repaired and restored to their original condition, or close to the original quality. After the repair is complete, refurbished laptops are resold at a lower price than new devices.
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Refurbished computers and laptops are a cost-effective option for businesses looking to purchase high-quality devices that perform like new ones without having to pay the premium price of a brand-new device.
Rising demand for low-cost electronic devices is a key factor that is driving the global refurbished computers and laptops industry forward.
Similarly, growing environmental concerns are expected to boost the refurbished computers and laptops industry.
Refurbished computers and laptops help to reduce electronic waste by extending the life of existing technology. By reusing existing devices, fewer electronics end up in landfills, reducing the environmental impact of electronic waste.
The production of new computers and laptops requires a significant amount of energy and resources. Refurbished devices on the other hand require less energy and resources to produce, making them a more environmentally friendly option.
Refurbished computers and laptops are often refurbished using parts from older devices. This helps to reduce the need for new parts and materials, reducing the environmental impact of production. Thus, purchasing refurbished electronics can help an environmental cause in the long run, and will help the market to expand rapidly.
Numerous startups are investing in refurbished workstations to reduce costs and sustain for longer periods. This will positively impact the global market during the projection period.
Key Takeaways:
Global sales of refurbished computers and laptops are likely to soar at 10.2%CAGRthrough 2033:
- Based on product, the refurbished laptops segment held a 74%share of the global market in 2022.
- By operating system, Windows OS held a prominent market share of 66.1%in 2022.
- The United States refurbished computers and laptops market value is forecast to reach US$ 6503.7 million by 2033.
- Demand for refurbished computers and laptops in China market is likely to rise at 10.2% CAGR.
- Japan’s market is projected to thrive at a robust CAGR of 12.7% from 2023 to 2033.
“Factors driving growth in the market include the increasing demand for cost-effective devices, the rise of the circular economy and sustainability initiatives, and the expansion of online and e-commerce platforms for purchasing refurbished devices. Further, the growing awareness of the environmental impact of e-waste has led to a rise in demand for refurbished electronics as a more sustainable alternative to buying new devices,” – states an analyst at FMI.
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Who is Winning?
Apple, Lenovo, HP, Samsung, Dell, Xiaomi, Asus, Acer, LG, and others are a few of the leading players in the global refurbished computers and laptops industry.
These players are employing various strategies to increase their revenues and expand their presence. This includes establishment of new facilities/stores, mergers, acquisitions, partnerships, and collaborations. For instance,
- In 2023, the first Select Store for refurbished PCs was launched by ASUS in India
Key Segmentation:
By Product:
- Refurbished Laptops
- Refurbished Desktop Computers
By Operating System:
- Windows OS
- Mac OS
- Linux OS
By Sales Channel:
- Online/eCommerce
- Offline/Brick & Mortar Stores
By Region:
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Western Europe
- Eastern Europe
- Central Asia
- Russia
- Balkan & Baltics
- Middle East and Africa
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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