According to SPER Market Research, the Malaysia Used Smartphone Market is poised to grow during the forecasted period due to various factors like growing smartphone and internet penetration, digital transformation brought on by the adoption of 5G network, a high percentage of low- to middle-income consumers, and rising prices of new smartphones. The government of Malaysia has taken steps to stimulate the economy by embracing digital technology in many facets of daily life. Used smartphones are becoming more popular, which has led to a gradual rise in smartphone costs. The causes that are fueling this rise have been identified as affordable devices and packages, subsidies, fierce rivalry, and promotions among service providers. Smartphone-based applications are becoming increasingly popular and relied upon, which could also explain the rise. Yet, there was a decline in the use of feature phones. All age groups used smartphones to a greater extent than half of the time. It has been found that younger respondents are more likely than older respondents to use smartphones, and that older age groups are seeing a decline in this tendency. But older people are the ones that utilize feature phones the most.
Malaysia Used Smartphone Market Overview:
- Forecast CAGR (2022-2032): 13.05%
- Forecast Market Size (2032): XX billion
People are beginning to purchase used smartphones since they are more inexpensive as the price of new smartphones has climbed. Future demand is anticipated to be strong, which will raise the average price of secondhand smartphones. Both consumers and organizations wishing to purchase smartphones on a budget can still find cost-effective choices by purchasing used devices. With aggressive trade-in offers in comparison to other channels, vendors like Apple, Samsung, and Xiaomi have developed their own schemes. The usage of recycled goods and the preservation of natural resources have become increasingly popular. Malaysians are also purchasing used smartphones as a further action. The industry for used smartphones will expand as a result, and there will be a decrease in the amount of electronic waste produced.
Impact of COVID-19 on the Malaysia Used Smartphone Market
As a result of increased digitalization, online learning, remote employment, and virtual sociability during the COVID-19 epidemic, smartphones have become an essential element of daily life. Integration of technology and digital solutions necessitated 5G device compatibility, which became a driving force behind the increase in smartphone sales. Yet, because there are a lot of consumers with low to moderate incomes, they choose to shop online for discounted used and refurbished cell phones rather than brand-new ones. This in turn has increased Malaysia’s demand for used smartphones.
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Malaysia Used Smartphone Market Key Segments Covered:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
Malaysia Used Smartphone Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Adpost, Adsglobe, Alibaba, Allo Allo, Amazon.com, Apple, APR Electronic Services Sdn. Bhd., Berry Nice Enterprise, Carousell, CompAsia, Facebook marketplaces, Factory Mobile Dataran Austin, APR Electronic Services Sdn. Bhd., Free Ads Time, Halomobile, Harvey Norman, Huawei, Kaskus, Lazada, Machines Suria KLCC Apple Premium Reseller Store, Mobile Wholesale City, OLX, Oneplus, Oppo, RealME, Sam Digital Enterprise, Samsung, SG World & Finance, Shopee, Vivo.
Malaysia Used Smartphone Market Segmentation:
By Distribution Channel: Based on the Distribution Channel, Malaysia Used Smartphone Market is segmented as; Organized, Unorganized.
By Type of Marketing Channel: Based on the Type of Marketing Channel, Malaysia Used Smartphone Market is segmented as; Classified, Offline Dealers, Online Marketplace.
By Source of Lead Generation: Based on the Source of Lead Generation, Malaysia Used Smartphone Market is segmented as; Dealership Walk-Ins, Online.
By Sourcing Medium: Based on the Sourcing Medium, Malaysia Used Smartphone Market is segmented as; Businesses, OEM’s, Retail Customers, Telephone Operators.
By Region: This report also provides the data for key regional segments of Kuala Lampur, Petaling Jaya, Seberang Perai.
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Malaysia Used Smartphone Market Size
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