The global mobile phone accessories market valuation is approximately US $ 82,022.1 million in 2021
JUMEIRAH LAKES TOWERS, DUBAI, UNITED ARAB EMIRATES Jan 6, 2022 /EINPresswire.com/ – The global mobile phone accessories market is expected to reflect a healthy growth rate of over 6.5% CAGR for the duration of the period of ‘Assessment from 2021 to 2031. The increase in global demand for mobile phone accessories can be largely attributed to the rapid growth in internet and smartphone penetration in countries around the world.
Personalized and personalized product development and production efforts, in addition to industry strategies towards sustainable and efficient packaging formats, will gain traction in the market over the next decade.
âWith the rapid growth of the e-commerce industry, online stores are experiencing increased consumer preference over conventional branded stores. As a result, traditional distribution channels are expected to experience declining revenues. Consumers are also showing a preference for mid-range mobile phone accessories, which will remain unchanged for the next decade, âsays the IMF study.
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Cell Phone Accessories Market – The Main Takeaways
Online distribution channels reflect a higher growth rate due to ease of internet access and home delivery and replacement services.
Headsets and earphones will show stronger growth due to the standardization of USB C compatibility and frequent technological innovations.
China will remain a market leader due to its position as the leading production hub for mobile phones.
Changing lifestyles and improving disposable income reflect positive growth prospects in MEA.
Mobile Phone Accessories Market – Growth Factors
Rising disposable income levels, especially in emerging economies, are boosting sales prospects.
The strong global penetration of smartphones and the internet will support long-term growth.
Frequent new product launches in the industry foster long-term growth opportunities.
Mobile Phone Accessories Market – Constraints
The widespread presence of counterfeits and substandard products is a concern that limits sales prospects.
The lack of standardization of equipment on a global scale is a major factor limiting adoption and international trade.
Explore mobile phone accessories market data with 197 digits, 96 tables and ToC. You will also find market segmentation on
Expected impact on the market by coronavirus epidemic
The covid-19 pandemic has had a negative effect on the evolution of the mobile phone accessories market. Economic uncertainties have had little effect on consumer confidence in their purchases, with purchases mainly geared towards essential goods. In addition, disruptions in the supply chains of raw materials and components have resulted in delays in production and distribution channels, affecting sales.
Manufacturers are being forced to consider diversifying their production lines outside of China, with online sales channels gaining ground during the crisis period. The easing of industrial regulations around 2021 will support the long-term growth of the industry, as wireless technologies are likely to generate strong consumer interest in the near future.
Some of the major manufacturers participating in the mobile phone accessories market are Case Mate Inc., Samsung Electronics Co. Ltd., SincoCase International Industrial, Logitech International SA, Seidio Inc., Harman International Industries Inc., Moftware Inc., Plantronics Inc. , TYLT Ballistic, Sony Corporaton, The Case Factory, Apple Inc., Bscstore Inc., Skullcandy Inc., Cambridge Soundworks Inc., GN Group, Kingston Technology Company Inc., Western Digital Corporation and Incipio Group, among others.
Leading players in the moderately fragmented mobile phone accessories market have shown interest in product development and launch strategies to retain consumers in a competitive market, in addition to achieving geographic expansion goals.
In February 2021, Anker launched its PowerCore Magnetic 5K wireless power bank, with MagSafe compatibility for iPhone 12 variants. In August 2020, telecommunications maker Beetel revealed its entry into the accessories segment for mobile phones with the Flix brand of headphones, wireless stereos, wireless chargers and power banks. Apple has also launched a new ecosystem of accessories that are compatible with the iPhone 12’s MagSafe magnetic back, including a smart battery box, snap-in batteries, and more.
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More on the report
IMF’s provides in-depth information on the mobile phone accessories market. The market is segmented in terms of product type (power banks, batteries, chargers, protective cases and covers, headsets, portable speakers, memory cards, data cables, mounts and holders, selfie sticks and others) , type of packaging (folding carton, boxes, sachets and transparent bags, shells, blisters and trays), sales category (by brands, by third parties, by white labels), price range (premium, medium and low) and channel sales (points of sale, electronics stores, franchise stores, exclusive stores and e-commerce), in seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and the Middle East and Africa).
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