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Global Mobile Phone Accessories Market was Valued at US$ XX Bn in 2019 and it is Expected to Reach More than US$ 405.2 Bn by 2028, Likely to Grow with the CAGR of 6.1% During the Forecast Period.
The mobile phone accessories market is primarily driven by technological advancements and rising consumer demand for advanced innovative products. Worldwide growth of the smartphone industry is the other key factor driving the market. The sales of revolutionary devices like wireless chargers, wireless headphones, and external battery packs have been skyrocketing, with a preference for elegant, delicate and lightweight mobile phones. The smartphone accessory industry is on the verge of entering the future, which requires solely technological innovation and product enhancement. In addition, mobile phone accessories are likely to get more interesting than smartphones due to the unique products offered by companies. Rising consumer preferences to use wireless accessories such as wireless charging, speakers, earphones, wireless chargers, and others will also bolster the market growth.
The growing demand for mobile phone accessories in the Asia Pacific region due to growing smartphone adoption, high internet penetration, changed consumer preference and others will enhance the market growth. Rapid technological advancements such as noise cancellation implementation, built-in light, and fan in selfie sticks will also spur the revenue growth.
The global mobile phone accessories market on the basis of the sales channel segment is divided into retail outlets, electronics stores, franchise outlets, exclusive stores, and e-commerce. The geography segment is bifurcated into Asia-pacific, North America, Latin America, Europe, Middle East and Africa (MEA).
By Product Type, Protective Cases & Covers Are Expected To Witness the Highest Growth In The Mobile Phone Accessories Market Across The Globe
Demand for protective cases & covers will continue to surge and is estimated to account for 25% of the global sales of mobile phone accessories. Looking beyond their smartphone specifications, customers keep a close eye on combination with exclusive mobile phone accessories that might enhance the overall experience. It is expected that the outcome would result in increased demand for cases and covers. Manufacturers of cell phone accessories rely on launching innovative products in their efforts to gain substantial market share, with a primary focus on the convenience factor. The market for clip-on headphones and wireless audio devices is expected to see phenomenal growth due to commendable progress in voice recognition technology and the seamless integration of speech recognition software in smartphones.
By Price Range, the Premium Segment Is Estimated To Witness the Fastest Growth In The Mobile Phone Accessories Market
By price range, the mid-segment led the mobile phone accessories market in 2019. Consumer preference for spending a limited amount of mobile phone accessories is the major factor for the dominance of the segment. Rising technological advancements with a compatible price range will boost the segment growth in years to come. The rise of consumer's need to use wireless products will also boost the segment growth.
The premium segment is expected to grow with the fastest CAGR owing to rising disposable income and a growing urban population. Increased demand for advanced mobile phone accessories such as premium battery cases, premium headphones, power banks, and others will spur the segment growth in years to come. Rapid technological advancements in premium mobile phone accessories such as charging cases & covers, stylus pens, and others will also enhance the segment.
Asia Pacific Region to Dominate the Overall Mobile Phone Accessories Market In Terms of Revenue Share
Asia Pacific region will dominate the global mobile phone accessories market owing to the high penetration of smartphones in the region. Rapid urbanization and growing GDP of fast-developing nations such as China and India are expected to dominate the market. It is further expected that a strong presence of multi-brand stores and a growing number of online retailers would fuel demand for mobile phone accessories in these countries. The market is estimated to register a CAGR of XX% during the forecast period. The mobile phone accessories market will hold substantial market share in North America due to the early adoption of technologically advanced products and rising consumer preference to adopt premium accessories products.
Samsung Electronics Co., Ltd., Logitech International S.A., Harman International Industries, Incorporated, Plantronics, Inc., Sony Corporation, Apple Inc., Cambridge SoundWorks, Inc., GN Group, Incipio Group, Western Digital Corporation, Bscstore Inc., The Case Factory, TYLT, Ballistic, Moftware, Inc., Seidio Inc., Kingston Technology Company, Inc., Skullcandy Inc., SincoCase International Industrial, Case Mate, Inc., are few of the key players in the global mobile phone accessories market.
Segmentation of Global Mobile Phone Accessories Market
Mobile Phone Accessories Market by Product Type
- Power Banks
- Protective Cases & Covers
- Portable Speakers
- Memory Cards
- Data Cables
- Mount & Stands
- Selfie Sticks
- Others (Stylus Pen)
Mobile Phone Accessories Market by Packaging
- Folding Cartons
- Clear View Boxes
- Pouches & Bags
- Blister Packs
Mobile Phone Accessories Market by Price Range
Mobile Phone Accessories Market by Sales Category
- 3rd Parties
- White Labels/No Name Brands
Mobile Phone Accessories Market by Sales Channel
- Retail Outlets
- Electronic Stores
- Franchise Outlets
- Exclusive Stores
Mobile Phone Accessories Market by Region
- North America
- South America
- Middle East & Africa