Rising usage of smart mobile phones, emergence of smart wireless accessories, and advancements in gaming accessories are driving the growth of the global mobile phone accessories market.
PORTLAND, Oregon., January 25, 2022 /PRNewswire/ — Allied Market Research has released a report titled, “Mobile Phone Accessories Market by Product Type (Battery, Headset/Earphone, Portable Speaker, Charger, Memory Card, Protective Case, Power Bank, Battery Case, Screen Protectors, Popsockets and Others), Distribution Channel (Online and Offline) and Price Range (Premium, Mid and Low): Global Opportunities Analysis and Industry Forecast, 2019-2026.” According to the report, the world mobile phone accessories industry was estimated at $224.69 billion in 2018, and should reach $284.06 billion by 2026, recording a CAGR of 3.1% from 2019 to 2026.
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Drivers, constraints and opportunities –
Rising usage of smart mobile phones, emergence of smart wireless accessories, and advancements in gaming accessories are driving the growth of the global mobile phone accessories market. On the other hand, the high penetration of counterfeit products and the trade war among developed countries are hampering growth to some extent. However, technological developments in imaging and photographic accessories are expected to pave the way for lucrative opportunities in the industry.
The outbreak of the pandemic has given way to a distorted supply chain across the globe, production and manufacturing facilities have also been disrupted in majority of countries, which has negatively impacted the global accessories market of mobile telephony.
However, as the global situation returns to normal, the market should recover quickly.
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The headphone segment dominated the market in 2018-
Based on product type, earphones segment dominated the market in 2018, contributing almost a quarter of the global mobile phone accessories market, owing to the growing penetration of IoT and AI in headphones. However, the battery case segment is expected to exhibit the Fastest CAGR 7.3% over the forecast period. The advancements in display and applications have instilled the demand for additional batteries for mobile phones and other accessories, which has also increased the demand for battery cases, thereby driving the growth of the segment.
The premium range segment will remain lucrative throughout the forecast period-
Based on price range, the high-end segment held the largest share in 2018, attracting nearly three-fifths of the global mobile phone accessories market. The same segment is also expected to show the fastest CAGR of 3.9% during the forecast period. This is because high disposable income in developed economies influences the sale of high-end products.
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Asia Pacificfollowed by North Americato keep the lion’s share-
By geography, the market across Asia Pacificfollowed by North America, generated the highest share in 2018, holding nearly half of the global mobile phone accessories market. The region is also expected to cite the fastest CAGR of 3.6% throughout the forecast period. Rising personal disposable income and emergence of premium smartphone brands are driving the demand for mobile phone accessories globally. Asia Pacific region, thereby driving the growth of the market.
Key Industry Players-
Sennheiser Electronic GmbH & Co. KG
JVC Kenwood Corporation
Samsung Electronics Co., Ltd.
BYD Co Ltd.
Energizer Holdings, Inc.
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