lucentpartsBy 2024, the number of smartphones worldwide is expected to exceed 7 billion, and it is predicted that by 2025, up to 72% of Internet users will access the Internet only through mobile devices. Against this backdrop, the mobile phone market is ushering in unprecedented growth opportunities as the popularity and dependence on smartphones continue to increase. This trend raises a question: In such a rapidly developing market environment, is the mobile phone repair market ushering in a new golden age or gradually declining?
Three major trends in the industry lay the foundation for the mobile phone repair market to be a sunrise industry
Smartphone coverage
According to data from Ericsson, The Radicati Group, the number of smartphone users worldwide has increased significantly over the past five years. In 2016, there were approximately 3.67 billion smartphone users. Since then, this number has increased by at least 300 million each year. Between 2016 and 2021, the number of smartphone users increased by 73.88%.
Replacement cost
As devices become more complex and expensive, the cost of simple replacement becomes higher. According to Statista, it is expected that as many as 4.88 billion people in the world will own smartphones by 2024. More notably, the global smartphone replacement rate may drop to 23.5%. (The replacement cycle is 51 months), and 46% of mobile phones have broken screens and 53% have aging batteries. These data show that the mobile phone repair industry will usher in new development opportunities.
Environmental awareness
According to the fourth edition of the Global E-waste Monitoring Report released by the International Telecommunication Union and the United Nations Institute for Training and Research, a record 62 million tons of electronic waste was generated worldwide in 2022, an increase of 82% from 2010, of which only 22.3% of the waste was recycled and reused with documented records. Increased environmental awareness has also prompted consumers to prefer repairing rather than discarding old mobile phones, which helps reduce electronic waste.
https://www.facebook.com/Mecanicophonelcd/Welcome to leave your comments. Mecanico is a designated cooperative brand of the repair center to help the development of the mobile phone repair market.
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