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The increase in usage of smartphones has created a booming smartphone repair industry. Rising popularity of fragile smartphones that comes with larger display screens, has boosted demand for aftermarket services. As dependence on smartphones increases, the market for repair services is expected to grow at a faster rate.  Lower prices of repair devices and increase in demand for refurbish smartphones are some of the factors boosting demand for smartphone aftermarket services. The growth in smartphone aftermarket is also affected by rising internet penetration and having access to information about the latest technological advancements.

Factors driving growth of smartphone aftermarket

Increasing adoption of repairing services and refurbished smartphones are major factors that are expected to drive the growth of smartphone aftermarket over the forecast period. Demand for smartphone repair services is expected to grow owing to fragile smartphone screens, short battery life, and other parts that make smartphones more susceptible to repair. Further, expensive smartphones are repaired rather than replaced. The smartphone repair industry is expected to experience growth over the forecast period, owing to rise in adoption of expensive smartphones among users.

Refurbish mobile phones is also expected to drive the growth of smartphone aftermarket. These phones usually have minor defects and sold at lower prices. Several wholesalers are selling their electronic products at low cost, with after sale services and decent warranty periods.

However, consumers tend to replace cellphones rather than repairing their mobile devices due to rapid advancement in technology and falling prices of smartphones. Falling prices have supported demand for new smartphones. An expected rise in consumer income over the next five years will encourage consumers to replace their smartphones rather than repair it.

Also, consumers have preconceived notions about the quality of refurbished products and avoid purchasing these smartphones.

Regional analysis of the smartphones aftermarket

On the basis of the region, smartphone aftermarket is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Among regions, Asia-Pacific is expected to account for the largest market share over the forecast period, owing to presence of larger customer base of smartphones in the region. Further, increasing adoption of e-commerce sites such as amazon is expected to have positive impact on the growth of the smartphone market and subsequently smartphone aftermarket in the region.

Key players in the smartphone aftermarket

Key players operating in smartphone aftermarket include Lenovo group Limited, HTC Corporation, Motorola Inc., Micromax Informatics Ltd., Nokia Corporation, Xiaomi Corporation, Apple Inc., Huawei Technologies Co., Ltd., Vivo Communication Technology Co. Ltd., Sony Corporation, Google, Blackberry, One plus Asustek Computer Inc., Lenovo Group Limited, and OPPO Mobile Telecommunications Corp., Ltd,. among others.

Segmentation of smartphone aftermarket

Smartphones market is segmented on the basis of type, channel, application, and region.

  • On the basis of type, the market is segmented into:
    • Under warranty
    • Outside warranty Period
  • On the basis of sales channel, the market is segmented into:
    • Online
    • Offline
  • On the basis of application, the market is segmented into:
    • Repair
    • New Phone
  •  On the basis of region, the market is segmented into:
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East
    • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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