The Assurant study reveals that consumers are prioritizing AI in their device upgrade choices for 2025, as demonstrated by a growing trend of turning in older devices. In 2024, US consumers benefited from $4.5 billion in trade-in value, marking a 5% increase from the previous year. Devices are being held onto longer, with the average age exceeding 3.6 years. Specific trends indicate shifts in Android and iPhone devices in line with major product launches, suggesting early adopters are exchanging older models for AI-enabled smartphones.
The analysis from Assurant shows a significant trend as the average age of trade-in devices drops, highlighting the influence of AI-driven upgrades within the market.
In 2024, US consumers garnered $4.5 billion in trade-in value, reflecting a consumer shift towards newer smartphone technologies, particularly those equipped with AI.
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