The consumer electronics industry experienced a significant setback in the past year. From the economic effect of the pandemic on the consumers to freezing production of consumer electronic goods as a result of governmental health and safety policies on workers and production workspaces.
Several industry leaders stopped production and the industry only recently started going back to pre-pandemic production capacity.
Lifestyle changes such as work from home and the need to move to the virtual space increased significantly the need for personal electronic gadgets. These factors contributed to an increase in demand of secondhand devices
There was a high demand for laptops, smartphones, and tablets due to e-learning and remote working practices which resulted in the higher production of these electronics and a better appreciation for the second-hand devices.
It is my opinion that the increased acceptance of secondhand consumer electronics is at its ascend, and similar to how we are experiencing a new normal, this new found acceptance is here to stay. Consumer demand will continue to increase as the lifestyle changes in the area of work style continues to change. Consumers have had an economic moment of reckoning, an evaluation of personal finance and the regular technological updates on these devices which may not be significant enough for an upgrade.
The experiences as a whole will continue to contribute to the growth of the consumer electronics industry across the globe.
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Original Article: https://www.grandviewresearch.com/industry-analysis/active-electronic-components-market
