Accessories for mobile phones include chargers, batteries, headphones / earphones, handheld speakers, memory cards, protective cases and power banks. The increasing adoption of Smartphone’s and other mobile handheld devices has led to a rapid growth of the global market for mobile accessories.
According to the report analysis,’ Global Mobile Phone Accessories Market to reach USD 304.8 billion by 2027’ Some of the affluent industry leaders in the global mobile phone accessories market are Panasonic Corporation, Sennheiser Electronic GmbH & Co. KG, Sony Corporation,, Samsung Electronics Co., Ltd.,, Apple Inc., Bose Corporation, BYD Co Ltd., Plantronics, Inc., Energizer Holdings, Inc., and JVC Kenwood Corporation. The companies are introducing new technologies and are working towards the expansion of product portfolio along with investing in high quality R&D to develop highly engineered and innovative products for best consumer experience in order to gain competitive edge in the mobile phone accessories market across the globe.
Increase in the adoption of Smartphone’s and rise in demand for wireless accessories are the driving factors in this market. Around one in four adults ages 18 to 34 owned Smartphone’s across nine emerging economies surveyed in 2013. By 2018 this share in most countries had grown to at least two-thirds Rapid technological advances, including noise cancelling technology implementation, Bluetooth / NFC speakers, and built-in fan and light in selfie sticks, provide lucrative growth opportunities in future. Adverse effect of hearing disability is the restraining factor in this industry.
The regional analysis of global Mobile Phone Accessories market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific accounted for the largest market share in terms of revenue on the overall market for mobile accessories. Due to increased mobile phone production in countries such as China, India, Japan, Singapore, and Australia the market is expected to expand. In Europe, the market for mobile phone batteries is expected to see the highest annual compound growth rate (CAGR). North America is expected to see considerable growth over the forecast period. The detailed segments and sub-segment of the market are explained as follows By Product type segmented into Battery, Headphone/Earphone, Portable Speaker, Charger, Memory Card, Power Bank, Battery Case, Protective Case, Screen Guards, Pop sockets and Others. By Distribution Channel segmented into Online and Offline. By Price Range segmented into Premium, Mid and Low.
Rise in demand for wireless accessories drives the mobile phone accessories market growth. This increase in demand is due to the change in customer preferences to listen to music on portable devices, such as Smartphone’s and tablets. Music is easily accessible through music streaming platforms, which include YouTube and Sound Cloud. The demand for mobile phone accessories has increased due to an upsurge in disposable income and rise in the popularity of social networking sites in urban areas.
In addition, increase in internet penetration also boosts the online retailing platform. However, excessive use of headphones affects the hearing ability of the users, which restricts the market growth. Rapid technological advancements, including implementation of noise cancelling technology, Bluetooth/NFC speakers, and built-in fan and light in selfie sticks, are expected to offer lucrative growth opportunities in the near future. Therefore, it is expected that the market of Global Mobile Phone Accessories will boost up in approaching years.
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Global Mobile Phone Accessories Market Research Report
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