Refurbished Computer and Laptop Market: Introduction
Transparency Market Research delivers key insights on the global refurbished computer and laptop market. In terms of revenue, the global refurbished computer and laptop market is estimated to expand at a CAGR of ~11% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global refurbished computer and laptop market.
Refurbished computers and laptops refer to the distribution of computers and laptops that are previously used and returned to the manufacturer or refurbisher. These used computers and laptops are generally tested for defects and functionality before selling them to customers.
Refurbished computers and laptops are resold or recycled by manufacturers or refurbishers to make these products affordable to users and to reduce e-waste. Refurbished computers and laptops are procured by the user, and it undergoes several quality tests to reform it to a new product. Faulty parts of the computers and laptops are replaced by manufacturers to provide authentic products. For instance, in June 2020, Microsoft offered to license refurbishers under the ‘Microsoft Authorized Refurbisher’ (MAR) licensing program.
Refurbished Computer and Laptop Market: Dynamics
Increasing demand for refurbished devices from ITES, IT sectors: Increase in the number of call centers and Business Process Outsourcing (BPO) units have a positive impact on the computer business. ITES (Information Technology Enabled Services) and IT organizations also require large number of refurbished computers and laptops to operate their business that significantly supports the revenue share. Moreover, many IT companies have a presence in emerging countries of Asia Pacific. Millions of employees are working from home for the first time due to the COVID-19 pandemic. This remote workforce has increased the demand for IT hardware. Enterprises are reaching out to providers of refurbished laptops and computers to cater to the demand.
Refurbished Computer and Laptop Market: Prominent Regions
North America is projected to hold the largest share of the global refurbished computers and laptops market during the forecast period due to increasing awareness about refurbished computers and laptops and significant adoption of refurbished IT hardware to reduce e-waste and the presence of key market players in the region. The adoption of refurbishment has increased considerably in the past few years in the region. Stringent government regulation on the reduction of e-waste is the key driver of the market in the region. Key market players such as Apple Inc. are endorsing the sale of refurbished computers and laptops to push second-hand and old products back to the supply chain to follow the government mandates. This initiative supports reducing e-waste in the region. In terms of end user, the enterprise segment holds major share of the market. A growing number of small and medium enterprises in North America provide the perfect platform for refurbished IT infrastructure such as computers and laptops.
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However, the refurbished computer and laptop market in Asia Pacific is estimated to expand at a robust pace during the forecast period. The market in Asia Pacific is predominantly driven by the advent of refurbished computer and laptop providers, and rise in awareness & adoption of refurbished computers and laptops in the region. The growth of this market in Asia Pacific can be attributed to the increasing number of new start-up companies, and the emergence of SMEs in China, Japan, India, Australia, and ASEAN. The rise of eCommerce platforms is boosting the growth of the market. Furthermore, high demand for refurbished products from IT and ITES sectors drives the growth of the market.
Stimulating the growing demand for refurbished products such as computers and laptops from low-funded start-up companies is also driving the market in the region. China is one of the large markets for refurbished devices, due to high production capacity and availability of refurbished devices to provide the equipment in the secondary market. In the Asia Pacific region, the service sector is growing rapidly in countries such as India, China, and Japan. The service sector includes BPO, KPO, customer support services, and online marketing firms which require a large number of IT systems that also includes computers and laptops.
Refurbished Computer and Laptop Market: Key Players
Key players operating in the global refurbished computer and laptop market are Acer Inc., Amazon.com, Inc., Apple Inc., ASUSTek Computer Inc., Dell Technologies Inc., HCL Technologies, HP Inc., IBM Corporation, Lenovo Microsoft Corporation., Samsung Electronics Co., Ltd., 2ndgear.com, Advanced Skyline Technology Ltd, Blair Tech, GigaRefurb, OCM Business Systems Ltd., Reboot, Recompute, and Refurbix.
Shutdown of IT, Technical Operations Fuels Demand for Cheap Computers to Work from Home
Every stage of the COVID-19 pandemic saw varying consumer interest for different kinds of products. While the coronavirus crisis is most likely to affect consumer behavior, most consumers are expected to choose products that deliver better value. With the cost-saving benefits at the time of the pandemic, refurbished products witnessed a surge in the demand mostly in the electronics segment. Every stage of the pandemic changed rules to operate for businesses. Moreover, consumer studies witnessed a surge in interest for different kinds of products with a variety of individuals opting for used devices to save costs. The market amidst pandemic observed the increasing demand for refurbished computer and laptop market as many employees from IT, ITES, KPO, BPOs, and other non-technical businesses were asked to work from home to protect themselves from the virus. The rise in the demand for these products opened up new market doors for the post-COVID-19 times. As pandemic continues to affect business operations in several developing countries, the refurbished computer and laptop market is expected to grow during the forecast period.
Various changes are being made by local governments to restore the markets to normal due to fall in coronavirus cases. Major computers and laptop manufacturers have added refurbish products for sale on their websites and stores. Thus, various exciting offers can be expected by consumers, as businesses need to promote refurbished computers and laptops market. There is likely to be a heavy surge in demand for refurbished electronics as the market gains its momentum back. However, challenges faced in the lockdown will hamper the growth as many people lost their jobs and businesses with limited financial backup. Nevertheless, with the global electronics industry expecting to gain rapid demand after the pandemic, it is most likely to influence the global refurbished computer and laptop market during the forecast period.
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