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The Average Global Smartphone Replacement Cycle Has Reached 21 Months

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A comprehensive overview of the Smartphone repair market is recently added by UnivDatos Market Insights to its humongous database. The Smartphone repair market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities.

Global Smartphone Repair market is experiencing significant growth on account of the increasing adoption of smartphones, owing to increasing disposable income and high penetration of online business. According to data obtained from one of the top consulting firms, the growing dependence on smartphones as well as the availability of affordable smartphones, the average global smartphone replacement cycle has reached 21 months. Customers from the emerging market are being more aggressively replacing their smartphones, compared to the customers in the developed economy.

Furthermore, the growth of Chinese brands, which offer higher specification devices at an affordable price, has generated a faster upgrade cycle. In addition, the rise of used and refurbished smartphones is also catalyzing this trend. For instance, the global used smartphone market would grow at 22% annually between 2015 and 2020, with shipments nearly tripling to 223 million units in 2020. North American used smartphone market reached to reach 55.2 million units by 2020 compared to 15.2 million in 2015.

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COVID-19 Impact

The COVID19 pandemic has witnessed the emergence of doorstep smartphone repair services. When the entire world stood still at the time of lockdown, it was heartbreaking for the unorganized smartphone repair business. In countries such as India and other developing countries, small repair businesses dominate the market in terms of volume. Owing to the sudden outbreak of Covid-19, company-operated smartphone repair centers started doorstep service, to sustain in the market.

By Component, the market is primarily bifurcated into:

  • Software Repair and Replacement
  • Hardware Repair and Replacement

Hardware repair and replacement components dominated the global Smartphone Repair market and will grow at 4.5% CAGR to reach USD 229.2 billion markets by the year 2027.

By Activity Type, the market is mainly segmented into:

  • Screen Repair and Replacement
  • Battery Repair and Replacement
  • Button and Jack Repair and Replacement
  • Camera and sensor repair and replacement
  • Others (Software related)

Amongst activity types, the Screen Repair and Replacement segment accounted for the largest share and is expected to grow at the CAGR of 3.9% during the forecast period 2021-2027.

By Business Type, the market is primarily studied into:

  • Brick-and-mortar stores
  • Company-operated Service center

In 2020, the Company operated Service center segment dominated the global Smartphone Repair market with nearly 61% share.

Global Smartphone Repair Market Geographical Segmentation Includes:

  • North America (United StatesCanada, Rest of North America (excluding Mexico))
  • Europe (GermanyUnited KingdomFranceNetherlandsPoland, Rest of Europe)
  • Asia-Pacific (ChinaIndia, and Rest of Asia-Pacific)
  • Rest of the World

Based on the estimation, the Asia-Pacific region dominated the Smartphone Repair market, owing to the high penetration of smartphones in India and China.

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