Refurbished laptops are the used laptops that are repaired by the manufacturers or by authorized service providers. Once repaired and tested, the laptops are ready to use like new devices. Refurbished laptops make a great alternative of new devices for IT asset recycling and also help in reducing e-waste.
Every year different companies perform a thorough research and provide detailed reports on refurbished laptops market, emerging trends, opportunities for the vendors and forecast for the future. These reports also provide data on growth of refurbished laptop market. In this article, we will equip you with the global laptop market, emerging trends and future forecast.
Future expectations and contributing factors
In 2017, the global laptop market size was valued at 101.67 that is estimated to grow at a CAGR of 0.4% during the forecast period. The major growth stimulants for the refurbished laptop market are rapidly growing internet penetration, increasing disposable income, increased awareness among consumers about responsible waste disposal and emergence of new technologies.
A large number of individual consumers as well as businesses these days prefer refurbished laptops available with integrated features and capabilities like the new devices. In terms of volume, the market is expected to grow at a CAGR of 1.0% and the major contributing factors are booming e-commerce market and surging demand for gaming devices. However, smartphones with features like camera, GPS, music, smooth communication and internet access are expected to impact the overall market of refurbished laptops among the target audience looking for gaming devices.
Demand for refurbished laptops during COVID-19
During this pandemic, word from home has become a new normal. This fuelled demand for cost-effective computers to continue operations from home. Customers are now choosing products that deliver better value at a lower cost. In this scenario, refurbished laptop market witnessed a surge in the demand, which is further expected to grow in the coming months. Employees from IT, ITES, KPO, BOP and other businesses started working from home to stay safe and to ensure smooth remote operations, companies had to provide the employees with laptops. As pandemic continues to stay there for an unexpected period of time, the refurbished laptop market is expected to grow during the forecast period.
Looking at the growing trend, many leading manufacturers and others vendors have started improving the quality of devices to enhance the consumer assurance. Key players are now focusing on providing the best user experience with unmatched quality of products.
Refurbished Laptop Market Overview
- The market for refurbished computers and laptops is growing at a significant pace. Major driver in this is the need to reduce e-waste.
- The global refurbished laptop market is anticipated to reach US $8 billion by 2031 at a CAGR of ~11%
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