Refurbished Computers and Laptops Market is Anticipated to Hold a Share of US$ 11.8 billion by 2031 Says Transparency Market Research
Rapid adoption of refurbished desktop computers by businesses in micro, small and medium enterprises, especially by customers in ITES sector, is anticipated to augment market growth
Wilmington, Delaware, United States, May 25, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – Globally prominent e-commerce sellers are offering limited and extended warranty for a wide range of laptop models to attract consumers. This is likely to propel rapid evolution of the market.
Laptop manufacturers are focusing on expansion of their network of authorized refurbishers to help individuals and businesses get the best pricing (deals) for refurbished computers and laptops.
The global refurbished computers and laptops industry was valued at US$ 4.7 Bn in 2022. It is projected to expand at a CAGR of 10.8% from 2023 to 2031 and reach US$ 11.8 Bn by the end of 2031. Rise in failure rates of new computers within the first few years (1- 3 years) of their ownership is a key trend that is likely to positively influence the market dynamics in the near future.
Laptop manufacturers are collaborating with authorized refurbishers so that desktop computers and laptops are truly refurbished as per stringent certification process. This ensures that the refurbished devices are free of malware, have genuine operating system, and are fully functional.
Implementation of e-waste programs supported by governments in several countries has been gaining traction for the last few years. This is likely to accelerate market development. Companies such as Dell and Microsoft are part of such programs, which is likely to broaden market outlook.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 4.7 Bn | |
| Estimated Value | US$ 11.8 Bn | |
| Growth Rate – CAGR | 10.8% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 425 Pages | |
| Market Segmentation | Type, End-user, Distribution Channel | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | 2ndgear, Acer Inc., Apple Inc., ASUSTeK Computer Inc., Dell Inc., GigaRefurb, HP Development Company, L.P., Microsoft Corporation, OCM Business Systems Ltd., Samsung Electronics Co., Ltd. | |
Key Findings of Study
- Significant Adoption of Refurbished Computers in MSME Sector: Consistent expansion of micro, small and medium enterprises, especially in numerous developing countries, is expected to boost the demand for refurbished laptops and computers.
- The IT and ITES (Information Technology enabled Services) sectors are expected to record significant adoption of refurbished computers in the near future. This is likely to augment the market size.
- Small and medium-scale enterprises are preferring leasing or purchasing refurbished laptops. Significant growth of the BPO industry in developing countries is likely to fuel market growth.
- Rise in Demand for Refurbished Laptops: Based on type, the laptop segment witnessed largest demand in 2022. The segment is anticipated to expand at a rapid pace in the next few years due to rapid increase in availability of certified devices on direct and indirect sales channels.
- No-cost EMI, full warranty as the new one, free delivery and return options, and buyback services are some of the factors that are estimated to continue to attract customers to buy refurbished laptops in the next few years.
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Key Drivers
- Rise in trend of owning high-quality computers and laptops is a key driver of the demand for refurbished devices, as they are more affordable and have comparable performance than a new device, which is available at a much higher price.
- Rapid expansion of online distribution channels, direct as well as indirect, is likely to broaden the customer choice for pre-owned desktop computers that are certified refurbished.
- Pressing focus on reducing e-waste and prolonging the life of IT equipment around the globe are key factors that are expected to fuel the demand for refurbished computers and laptops. Prominent technology companies and computer manufacturers are adopting circular IT practices, and refurbishing old electronic equipment is a potential step by brands in that direction.
Regional Growth Dynamics
Asia Pacific is anticipated to account for a leading share of the global refurbished computers and laptops market from 2023 to 2031. Surge in demand for affordable laptops and steady expansion of the MSME industry is expected to fuel the market in Asia Pacific.
The market in South America is projected to record rapid growth from 2023 to 2031. Considerable efforts by computer manufacturers are governments of several countries in the region to support e-waste recycling have fueled the market size in the region. For instance, implementation of UNIDO´s e-waste program in partnership with Global Environment Facility (GEF) to recover useful electronic components from discarded computers and laptops. Cambodia, Brazil, and Chile are attractive countries in the regional market.
Competition Landscape
Leading companies are focusing on partnerships and collaborations to consolidate their market positions in the next few years.
Prominent companies operating in the refurbished computers and laptops market are
- 2ndgear
- Acer Inc.
- Apple Inc.
- ASUSTeK Computer Inc.
- Dell Inc.
- GigaRefurb
- HP Development Company, LP.
- Microsoft Corporation
- OCM Business Systems Ltd.
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Refurbished Computers and Laptops Market Segmentation
Type
- Computer
- Laptop
End-user
- Corporate Offices
- Educational Institutions
- Government Offices
- Others (Enterprises, etc.)
Distribution Channel
- Direct
- Indirect
Region
- North America
- Europe
- Asia Pacific
- Latin America
- South America
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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