Malaysia Gray Market & Counterfeit Risks in Used Smartphones | Sample Report by Ken Research


Sameekshabhardwaj1089

Uploaded on Oct 1, 2025

Category Technology

Counterfeit, stolen devices, and unregulated gray market challenge industry credibility and trust.

Category Technology

Comments

                     

Malaysia Gray Market & Counterfeit Risks in Used Smartphones | Sample Report by Ken Research

September 2025 Malaysia Used Smartphone Market Outlook To 2026f Driven by increasing prices of new smartphones, greater environmental awareness and Government initiatives like adoption of 5g network Author: Ms. Grantha Banerjee | Vertical: Consumer Products and Retail | Region: Asia Shaped by Rising Smartphone Penetration, Affordability Demand, Trade-In & Financing Schemes. Table of Contents 1 1. Executive Summary 1.1 Executive Summary of Malaysia Used Smartphone Market 2 2. Market Overview 1. Market Definition 2. Market Size by Volume 3. Market Size by Revenue 4. Historical Data (2016–2021) 5. Forecast (2021–2026) & 5-Year CAGR 6. Key Takeaways 3 3. Market Segmentation of Malaysia Used Smartphone, 2025 1. Segmentation by Distribution Channel: (Online, Offline) 2. Segmentation by Brand: (Apple, Samsung, Others) 3. Segmentation by Price Range: (MYR 1,500) 4. Segmentation by Operating System: (iOS, Android) 5. Segmentation by Device Condition Grade: (Grade A, Grade B, Grade C) 4 4. Industry Analysis 1. Growth Value Drivers 1. Rising Smartphone Penetration 2. Affordability Demand 3. Trade-In & Financing Schemes 4. Sustainability & Circular Economy Focus 2. Industry Challenges 1. Quality Assurance & Grading Variability 2. Counterfeit & Grey-Market Risks 3. Limited Consumer Trust & Awareness 4. Complex Regulatory Compliance 3. Market Opportunities 1. Expansion of E-commerce Platforms 2. Partnerships with Telcos & Retailers 3. Value-Added Services (Warranty, Insurance) 4. Corporate & B2B Refurbishment Programs 4. Market Trends 1. Omnichannel Retail Integration 2. Technological Innovations in Refurbishment 3. Subscription & Leasing Models 4. Eco-Friendly Packaging & Logistics 5 5. Value Chain & Industry Taxonomy 1. Value Chain Overview 1. Component & Accessory Suppliers 2. Device Collection & Sourcing 3. Inspection, Testing & Grading 4. Refurbishment & Repair 5. Distribution & Logistics 6. Retail & After-Sales Support 2. Industry Taxonomy 1. Upstream Players 2. Midstream Refurbishers 3. Downstream Distributors & Retailers 6 6. Regulatory Framework 1. Government Regulations & Standards 2. Environmental & E-Waste Policies 3. Import-Export & Customs Duties 4. Certification & Quality Standards (e.g., ISO, MS) 5. Data Security & Privacy Guidelines 7 7. Competitive Landscape of the Malaysia Used Smartphone 1. Major Companies Covered: (Shopee, Lazada, Facebook Marketplace, eBay, 11street, and Others) 2.Operational Parameters: (Company, Headquarter, Market share (%), Revenue (USD Mn), Unit sales (Mn units), Average selling price (USD), and Others) 3. Financial Parameters: Market Shares, Revenues, and Profit Margins 8 8. Future Market Segmentation of Malaysia Used Smartphone, 2030 1. Segmentation by Distribution Channel: (Online, Offline) 2. Segmentation by Brand: (Apple, Samsung, Others) 3. Segmentation by Price Range: (MYR 1,500) 4. Segmentation by Operating System: (iOS, Android) 5. Segmentation by Device Condition Grade: (Grade A, Grade B, Grade C) 9 9. Analyst Recommendations 1. TAM/SAM/SOM Analysis 2. Go-to-Market & Channel Strategies 3. Ecosystem & Partnership Development 4. Pricing & Positioning Guidelines 9.5 Risk Mitigation & Compliance Roadmap 1 10. Research Methodology 0 1. Data Sources & Collection 2. Primary Research (Interviews, Surveys) 3. Secondary Research (Reports, Databases) 4. Market Estimation & Forecasting Approach 5. Assumptions & Limitations 1 11. Disclaimer 1 12. Contact Us 1 2 0 1 Executive Summary Executive Summary Exhibit 1.1 Taxonomy & Market Size of Malaysia Used Smartphone Market Malaysia Used Smartphone Market (USD XX Mn) By Distribution Channel By Brand Online Offline Apple Samsung Others XX% XX% XX% XX% XX% Online Offline channels channels dominate with maintain Diverse rapid growth. steady Apple leads Samsung brands presence. with strong holds capture market share. significant remaining market market. Marketplac position. e Platforms Brand- (XX%) Owned Retail Huawe Chains (XX i (XX %) %) Specialist Refurbishe r Websites OPPO Multi-Brand (XX%) (XX Mobile %) Outlets (XX %) Social- Vivo Commerc (XX%) e Independent Channels Refurbishers (XX%) & Pawnshops (XX%) MYR 500– 1,000 By Price MYR 1,001– Range 1,500 >MYR 1,500 COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED 02 Malaysia Used Smartphone Market Outlook COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED Malaysia Used Smartphone Market Outlook Malaysia Used Smartphone Market Scenario The Malaysia used-smartphone segment has evolved into a dynamic ecosystem driven by growing consumer appetite for value and sustainability. Today, refurbished handsets—from mid-tier to premium models—are readily available through omnichannel platforms and peer-to-peer marketplaces, reflecting broader digital literacy and budget sensitivity. Key value drivers include affordability, eco-friendly consumption and improved quality assurance, while tailwinds such as tight household budgets, rising environmental awareness and accelerating device upgrade cycles bolster market growth. Catalysts over the next five years encompass enhanced e-waste regulations, flexible financing options and 5G adoption, potentially yielding industry consolidation, blockchain- based authentication and subscription-style smartphone access in emerging scenarios. Exhibit 2.1 Illustrative Malaysia Used Smartphone Market Overview CAGR: XX% XX% XX% XX% XX% XX% XX% XX% XX% XX% XX% 2025 2030 By Distribution Channel Online Offline By Brand Apple Samsung Others Source: Ken Research Analysis Note 1: The exhibit serves as an illustration, with numbers currently masked. The detailed statistics will be included in the final report. Note 2: All revenue and financial numbers are for current year and financial year, i.e., 2025 & 2030. Note 3: XX% in the above exhibit denotes market size. COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED 03 Market Segmentation of Malaysia Used Smartphone Market COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED Market Segmentation of Malaysia Used Smartphone Market Malaysia Used Smartphone Market Segmentation Malaysia’s Used Smartphone Market comprises segments By Distribution Channel, Brand, Price Range, Operating System and Device Condition Grade. Online distribution dominates, driven by Marketplace Platforms (XX%) and Specialist Refurbisher Websites (XX%), with Social-Commerce Channels emerging as a growth area. Offline channels, led by Multi- Brand Mobile Outlets (XX%), remain steady as Independent Refurbishers & Pawnshops modernize. Apple and Samsung lead By Brand at XX% each. The MYR 500–1,000 segment holds the largest By Price Range share, while Android devices top By Operating System. Grade A smartphones account for the highest trade volume. Recent developments include blockchain- based certification on Specialist Refurbisher Websites. Exhibit 3.1 Illustrative Market Segmentation of Malaysia Used Smartphone Market >MYR Social- 1,500 Other Vivo Grade Commerce XX% s XX (XX%) C XX Channels % % Offline (XX%) Androi XX% d MYR 1,001– XX% 1,500 XX% Specialist Refurbishe Samsun OPPO Grade r g XX (XX%) B Websites % XX% (XX%) MYR 500– 1,000 XX% Onlin iOS e XX Marketplac XX % Appl Huawe % Grade e e i (XX XX% A Platforms By On XX% %)(XlXin%e) By Samsung By Price Range By By DXeX%vice Distributio Brand Operating Condition n Channel System Grade Key Takeaways: Online distribution channels are leading the market. Apple and Samsung are the dominant brands. The MYR 500–1,000 price range is the most popular. Android is the leading operating Sosuyrcset:e Kemn .Research Analysis Note 1: This exhibit serves as a visual representation. The final chart will include additional segments along with detailed statistics in the final report. Note 2: All revenue and financial numbers are for the current year. Note 3: "XX%" in the above exhibit denotes market shares. COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED 04 Overview And Genesis Of The Malaysia Used Smartphone Market COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED Overview And Genesis Of The Malaysia Used Smartphone Market Malaysia Used Smartphone Market Ecosystem In Malaysia’s used smartphone ecosystem, large enterprises—such as Carousell Malaysia—leverage extensive supplier networks, omnichannel platforms and robust CRM to serve mass-market segments (value propositions: certified devices, warranty; key partners: manufacturers, logistics; channels: web/app; revenue: sales commissions). Medium-sized firms—e.g. iGrow Tech—partner with telcos and refurbishers, focusing on niche segments with quality assurance and flexible trade-in services via online storefronts (key activities: refurbishment; cost structure: partner fees, marketing). Small local shops rely on neighborhood sourcing, repair expertise and direct counter sales to attract budget-conscious consumers (resources: technicians; channels: walk-ins; revenue: service fees, device mark-ups). Exhibit 4.1 Illustrative Ecosystem of Malaysia Used Smartphone Market Entity type Revenue Streams Players Mudah.my ▶ Commission/transaction fees on Carousell Online Marketplaces each sale (OLX) & Listing Platforms Lelong.my ▶ Listing/subscription fees Shopee (Used ▶ Advertising and promoted-listing fees section) Reebelo Machines ▶ Margin on refurbished device Switch Brick-and-Mortar Retail & sales Senheng Specialty Stores ▶ Trade-in price arbitrage Thunder ▶ In-store service/inspection Match fees Cash ▶ Top-up/upgrade fees when customers trade ConvertersMaxis Telecom Operators & Trade- in old devices Celco in Programs ▶ Resale of traded-in units m Digi ▶ Insurance and protection-plan commissions U Mobile iRepair ▶ Refurbishment service charges (testing, FixExpres Refurbishers & Repair- repackaging) s Service Providers ▶ Parts and component sales PhoneFix ▶ Warranty-backed grading fees Regrov MyGadge ▶ Bulk procurement/resale tVDiDoi ctor Distribution Wholesalers & Distributors margins JDI ▶ Trade commissions for bulk buyers Distribution Titan Merch ▶ Export revenue (to SEA, MENA) Ace Tech ▶ Extended-warranty/subscription TradeplusGadget Warranty & After-sales fees Butler Geek Service Providers ▶ On-site repair-service contracts Squad ▶ Spare-parts replacement charges Malaysia ONE WAtaormraen ty ▶ Interest and financing charges on instalment Rely Financial & Payment Solution plans GrabPa Providers ▶ BNPL/”Buy-Now-Pay-Later” merchant fees y ▶ Insurance premium financing Maybank Flexi- Presto ▶ Pick-up/delivery fees Pos Logistics & Fulfillment Malaysia Providers ▶ Warehousing/packaging GDex charges J&T Express COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED Entity type Revenue Streams Players NinjaVan ▶ Reverse-logistics and returns handling DHL fees IDC ▶ Subscription/license fees for data Counterpoi Market Intelligence platforms nt Research & Analytics Providers ▶ Custom research and consulting fees GfK ▶ Syndicated-report sales Frost & Sullivan COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED 05 Competitive Landscape COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED Competitive Landscape (1/3) Competitive Landscape Overview In Malaysia’s used-smartphone segment, Carousell and Mudah.my dominate peer-to-peer marketplaces with free basic listings, paid ad upgrades and integrated payments across web and app (Customer Segments: individuals, SMEs; Channels: app, website; Key Partners: payment gateways, couriers; Activities: platform ops, marketing; Revenue: listing fees, ads). Shopee’s secondhand vertical adds in-app escrow, chat and logistics (Value: trust, convenience; Revenue: commission). Cash Converters runs a recommerce network of retail outlets with certified refurbishment, warranty and online sales (Key Partners: repair workshops; Activities: testing, refurbishing; Revenue: direct sales). Senheng’s pre-owned arm leverages omnichannel retail, trade-in programs and after-sales service. Exhibit 5.1 Illustrative Market Shares of Key Players in Malaysia Used Smartphone Market Note: These are illustrative representations and do not reflect actual data or real-world figures Source: Ken Research Analysis Note 1: The XX% in the exhibit represents the market share of each company. Note 2: The exhibit serves as an illustration, with numbers currently masked. Note 3: All revenue and financial numbers are for the current year. COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED Competitive Landscape (2/3) Exhibit 5.2 Illustrative Competition Matrix of Malaysia Used Smartphone Market Major Players in Malaysia Used Smartphone Market Figure represents cumulative market share for only the product segment.: Malaysia Used Smartphone Market: USD XX Mn Note: These are illustrative representations and do not reflect actual data or real-world figures Large Medium Small Players Players Players Source: Ken Research Analysis Note 1: The XX% in the exhibit shows the market share of each company, which represents the company’s contribution to the total market. Note 2: The exhibit serves as an illustration, with numbers currently masked. Note 3: All revenue and financial numbers are for the current year. Note 4: Enterprise size categories based on annual revenue in US€—Large > 100 Mn; Medium 30–100 Mn; Small < 30 Mn COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED Competitive Landscape (3/3) Exhibit 5.3 Illustrative Cross Comparison of Key Players in Malaysia Used Smartphone Market Unit Average Market Annual Gross Revenue sales selling Operating Company Headquarter share growth margin (USD (Mn price margin (%) rate (%) Mn) units) (USD) (%) (%) Shopee Singapore XX% XX XX XX XX% XX% XX% Lazada Singapore XX% XX XX XX XX% XX% XX% Menlo Facebook Park, XX% XX XX XX XX% XX% XX% Marketplac California, e USA San Jose, eBay Californi XX% XX XX XX XX% XX% XX% a, USA Seoul, 11street XX% XX XX XX XX% XX% XX% South Korea Carousell Singapore XX% XX XX XX XX% XX% XX% Kuala Mudah.my XX% XX XX XX XX% XX% XX% Lumpur, Malaysia Kuala Lelong.my XX% XX XX XX XX% XX% XX% Lumpur, Malaysia Cash Perth, XX% XX XX XX XX% XX% XX% Converter Australi s a Kuala Mobile2Sale XX% XX XX XX XX% XX% XX% Lumpur, Malaysia Source: Ken Research Analysis Note 1: The XX% and XX values in the exhibit represent placeholder data and will be replaced with actual figures in the final report. Note 2: All revenue and financial numbers are for the current year. COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED 06 Analyst Recommendation Analyst Recommendation TAM/SAM & SOM Analysis Exhibit 6.1 Target Addressable Malaysia Used Smartphone Market Outlook To 2026f TAM = USD XX Mn (Malaysian smartphone sales forecast to 2026) TAM = USD XX Mn (Portion of TAM addressable by certified refurbishers) TAM = USD XX Mn (Projected share captured by top marketplaces) Source: Ken Research Analysis Note 1: The exhibit serves as an illustration, with numbers currently masked. The detailed statistics will be included in the final report. Note 2: All revenue and financial numbers are for the current year. COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED 0 7 Ken Research Offerings How can we add value ? Ken Research Strategy & Transformation ▶ Digital transformation in consumer ▶ Portfolio & Growth strategy for product repair and maintenance consumer product repair businesses ▶Regulatory compliance and sustainability standards (ISO 9001 for Service Quality, R2/RIOS for E- Waste Recycling, FTC Right to Repair, GDPR for Consumer Data, OSHA Safety Standards, Energy Star for Appliance Maintenance) Growth and Scale-Up Cost and Performance Excellence Customer Loyalty and Experience Investment Advisory Expansion into AI-powered Cost optimization through Stakeholder engagement: ▶Feasibility studies and service tracking, remote predictive maintenance, lean Retailers, product investment planning for troubleshooting, and inventory management, and manufacturers, consumers, digital repair platforms, automated repair AI- driven diagnostics service franchises, extended warranty services, management regulatory bodies and smart service hubs ▶Expansion into doorstep ▶Investment screening for ▶Growth in AI-powered product repair, subscription- ▶AI-driven predictive analytics smart repair service repair diagnostics, digital based maintenance, and IoT- for product failure startups, AI-driven service platforms, and enabled troubleshooting detection, spare parts maintenance firms, and on-demand service forecasting, and demand digital warranty providers models ▶Lean repair methodologies prediction for cost-effective ▶Funding and capital ▶Integration of AI, IoT, and maintenance, optimized ▶Digital twin technology for advisory for digital repair automation in predictive spare parts logistics, and real- time product innovation, AI- powered maintenance, real-time rapid turnaround performance simulation, product maintenance, and diagnostics, and virtual failure prediction, and automated service solutions repair support Lean workflow and predictive automated maintenance maintenance for repair ▶Geographic expansion into centers, in-store service ▶CRM and digital platforms omnichannel repair services, desks, and mobile repair for customer service digital repair kiosks, and AI- units automation, warranty driven maintenance centers tracking, and predictive repair alerts Optimized resource allocation, High Cost of Repairs refurbished product certification, and AI-driven service demand management Enablement and Implementation ▶Post-merger integration for ▶Execution and quality retail service providers, control in automated repair product maintenance tech tracking, AI- driven service firms, and warranty service optimization, and customer businesses service enhancement ▶Supply chain and logistics optimization for spare parts procurement, automated stock replenishment, and eco-friendly refurbishment COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED Ken Offerings Our Solutions to Help Increase Stakeholder Value Customer Satisfaction Operational Efficiency Cost Management & Retention & Optimization > Enhance service delivery > Improve CSAT & NPS with time by optimizing workflow > Reduce cost per service by timely, high quality service > Increase first time fix rate managing parts & labor > Increase customer retention (FTFR) to reduce rework effi ciently rate through subscription > Improve worker productivity > Improve inventory models with proper training & tools turnover through better parts management > Reduce customer complaints via proactive > Lower service cost per unit maintenance with predictive maintenance Service Quality & Compliance Market Share & Expansion Technological Integration > Expand market share by > Achieve quality assurance entering > Increase adoption of IoT & AI scores for every service new regions for predictive maintenance > Increase compliance rate > Increase new customer > Improve mobile app adoption with industry standards acquisition via digital for customer bookings and and regulations marketing service tracking & lead generation > Reduce warranty claims > Improve sales conversion rate > Enhance automation in through quality control by diagnostics for quicker processes offering bundled services response Financial Performance & ROI Employee Engagement & Retention > Improve return on investment (ROI) with cost > Improve employee saving innovations satisfaction score with > Increase revenue per training & incentives technician through higher > Increase employee retention service volume rate through career > Enhance operating development programs margin by reducing > Enhance employee overhead costs productivity with skill based KPIs COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED ▶Ken Research brings you industry-leading brand THOUGHT LEADERSHIP valuation, combined with research from the world’s PATHWAYS This report is just the beginning. Connect with Ken Research experts, who track macroeconomic trends impacting global brands. Our library of over 20,000 TO reports spans key markets like China, France, and the US, offering deep insights at kenresearch.com. EXCEPTIONAL With over 200 experts and insights from 80+ countries, Ken Research provides the knowledge you need. Our GROWTH comprehensive approach combines innovative methodologies, consumer insights, creative content, and strategic media investments, optimizing your market presence and driving growth. We are available to personally discuss how we can support you and your brand’s success. Feel free to contact me Sincerely, Ankur Namit Gupta Goel Partner & Founder Partner & Founder [email protected] [email protected] m m COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED Research Methodology 1. Desk 2. Expert Interviews 3. Sanity Check 4. Forecasting Research Models Modeling Conducted interviews Sources with industry experts, Applied a proxy model Developed a future retailers, and using the number of forecast model using Utilized industry reports, distributors to gain users, frequency of historical data, market government publications, insights into market purchase, and average trends, and economic and online databases to dynamics, pricing spend to estimate the indicators to project the gather data on the strategies, and addressable market. growth and potential of Malaysia used consumer preferences Cross-verifi ed with the Malaysia used smartphone market, in the used smartphone supply- side data on the smartphone market over including market trends, sector. number of large, the next five years. consumer behavior, and medium, and small competitive landscape. players and their average revenue. SAMPLE SIZE BY STAKEHOLDERS By Stakeholders Number of Respondents C Level Executive ~ Respondents Operational/Regional ~ Managers Respondents Business Development / Sales ~ Manager Respondents Other -Key opinion leaders from Associations, Warehouses, and s Manufacturing firms. SAMPLE SIZE BY RESPONDENT CATEGORY IN PERCENTAGE (%) C Level Executive - XX % Operational/Region al Managers - XX% Business Development / Sales Manager - XX% Others - XX% COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED CATEGORIE S AGRICULTURE AND ANIMAL CARE AUTOMOTIVE, TRANSPORTATION BANKING FINANCIAL SERVICES AND WAREHOUSING AND INSURANCE ▶ Agriculture Equipment ▶ Animal Care ▶ Automotive and Automotive ▶ Banking Components ▶ Crop Protection ▶ Financial Services ▶ General Transportation ▶ Farming ▶ Insurance ▶ Logistics and Shipping ▶ Seed ▶ Loans and Advances See More > See More > See More > PUBLIC SECTOR AND ADMINISTRATION ENERGY AND UTILITIES HEALTHCARE ▶ Legal Services ▶ Clean Technology ▶ Diagnostics ▶ Public Services ▶ Gas ▶ General Healthcare ▶ Religion ▶ Oil ▶ Medical Devices ▶ Power ▶ Pharmaceuticals See More > See More > See More > DEFENSE AND SECURITY METAL, MINING AND CHEMICALS Technology AND TELECOM ▶ Defense ▶ Chemicals ▶ IT and ITES ▶ Security Devices ▶ Metals & Minerals ▶ Telecommunications and Networking ▶ Weapon ▶ Mining See More > See More > See More > COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED CATEGORIE S EDUCATION AND RECRUITMENT FOOD, BEVERAGE AND TOBACCO MEDIA AND ENTERTAINMENT ▶ Education ▶ Alcoholic Beverages ▶ Advertising ▶ Recruitment ▶ Dairy Products ▶ Films and Animation ▶ Food Services ▶ Gaming and ▶ General Food Gambling Information Services, Newspaper ▶ Non Alcoholic Beverages ▶ Magazines and ▶ Tobacco Products ▶ Tourism ▶ TV, Radio and Broadcasting See More > See More > See More > MANUFACTURING AND CONSTRUCTION CONSUMER PRODUCTS AND RETAIL MARKET ▶ Construction Materials ▶ Industrial Engineering ▶ Baby Care ▶ Infrastructure ▶ Consumer Electronics ▶ Machinery and Parts ▶ Consumer Services ▶ Other Manufacturing Activities ▶ Cosmetics and Personal Care ▶ Real Estate ▶ Home and Office Furnishings ▶ Luxury Goods ▶ Sports Equipment ▶ Textile, Apparel and Footwear ▶ Wholesale and Retail See More > See More > COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED COPYRIGHT KEN RESEARCH. ALL RIGHTS RESERVED CONTACT US With 13 years of experience, we’ve served over 2,000 clients, including 70% of Fortune 500 We're here to help you find the right market insights and strategies. Our team is companies, delivering 20,000+ reports across 340+ industries. ready to support your needs and help your business grow. For further information, please contact: ANKUR GUPTA NAMIT GOEL Partner & Founder Partner & Founder [email protected] [email protected] m m +91 +91 9311149880 9311149880 INDIA (IN) INDONESIA (ID) Unit 14, Tower B3, Spaze i Tech# Business Park, Sohna Road, The Icon BSD City, Jl. Verdant View IIIA No.15, Tangera Regency, Province Banten-15345, sector 49 Gurgaon, Haryana - 122001, India Indonesia UNITED ARAB EMIRATES (UAE) QATAR 105, Al Jaz1, Street no 2 the Greens Dubai United Art Office no. 9, Building no. 171, Zone no. 42, Street no. 230, Al-Rehab Complex, C-Ring road Emirates. Doha, Qatar - PO Box no. 30867