Thailand Used Smartphone Market is Expected to Reach More Than USD ~2.5 bn by 2027F Owing to Adoption of 5G network and a High Proportion of Low- to Mid-Income Consumers

Ken Research

GURUGRAM, India, Feb. 6, 2023 /PRNewswire/ -- The used smartphone industry is fragmented with the majority of unorganized smartphone dealers in Thailand. ~55.5% of used smartphones are sold by offline players in Thailand. Compasia is one of the largest online marketplaces for used smartphones.

• Growing popularity of online marketplaces for the sale of used smartphone has substantially increased in Thailand.
• The market is highly dependent upon offline and unorganized players.
• Improved technology used in the process of refurbishment will promise the premium quality of refurbished phones.

Increasing Prices of Raw Materials of a New Smartphone: Chipmakers are increasing manufacturing fees, leading to pricier chipsets and devices that employ them. This means that new smartphones, computers, and other electronics cost more in the future. Ultimately, helping the used smartphones market grow in Thailand.

Reduction in Electronic Waste: People around the world are taking steps to preserve natural resources and recycle products. Using used smartphones reduces electronic wastes. Although about 70% of mobile phones are reusable, only about 20% of mobile phones are recycled each year.

Positive Impact of Adopting 5G Network: Increasing smartphone penetration along with digital transformation due to the adoption of 5G network are the main growth drivers of this industry. More than 56 million people in Thailand use smartphones. 5G speed is 10 times more than 4G network. Hence, adoption of 5G in used smartphones will enable faster speed, low latency, and ubiquitous coverage.

High Proportion of Low- to Mid-Income Consumers: Thailand consumers are known to be price-sensitive and often make extensive searches to find the best value possible. This is mainly due to a high proportion of low- to mid-income consumers in the country.

Analysts at Ken Research in their latest publication- "Thailand Used Smartphone Market Outlook to 2027F- Driven by increasing smartphone penetration, reduction in electronic waste and adoption of 5G network" by Ken Research provides a comprehensive analysis of the potential of the used smartphones market in Thailand. Reduction in electronic waste and increasing prices of raw materials of a new smartphone are expected to contribute to the market growth over the forecast period. Thailand used smartphones market is expected to grow at a robust CAGR over the forecasted period 2022P-2027F.