The global mobile phone accessories market size, valued at USD 202.45 billion in 2020, is expected to reach USD 328.70 billion by 2030 with a CAGR of 4.5% from 2021-2030.
Global digitization is leading to increased dependence on smart gadgets, especially mobile phones. The improved connectivity spectrum tends towards higher adoption of mobile phones at the individual level, thus leading to the consequent growth of the mobile phone accessories market. Cell phone accessories are the hardware components, insignificant in the operation of cell phones, but are necessary to provide further support, product improvement and a greater factor of convenience. This includes innovative accessories such as external batteries, power banks, wireless headphones, wireless chargers, memory card, protective case, screen protectors and many more.
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Main companies: Samsung Electronics, Energizer, Panasonic Corporation, Sony Corporation, JVC Corporation, BYD Inc., Beats (Apple Inc.), Sennheiser Electronics GmbH & Co. KG, Otterbox, Bose Corporation, Plantronics Pvt Ltd and others.
Market dynamics and trends
The mobile phone accessories market is flourishing due to the increased adoption of mobile phones globally. According to a survey, the total number of smartphone shipments in the third quarter of 2019 reached 352.4 million units. Growing penetration of IoT and AI technologies, as well as innovative technological advancements in speech recognition systems, wireless audio products, clip-on headphones, as well as the precise integration of speech recognition software; are the growth factors of the world market.
In addition, rapid urbanization, increasing per capita income globally, a greater inclination towards social networking sites and the growing demand for trendy mobile accessories, especially from the younger generation, are expected to propel the growth of the mobile phone accessories market in coming future.
However, the increased use of headphones resulting in hearing loss issues and fierce competition among major manufacturers resulting in higher tariffs imposed on international trade are the factors that are expected to hamper the growth of the mobile phone accessories market over the course of of the forecast period.
In addition, advanced product launches by market players, growing demand for wireless accessories and fast-processing software, as well as technological advancements in imaging and photography accessories, are opening up new avenues of development. lucrative opportunities in the global mobile phone accessories market.
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Market segments and scope of the study:
The analysis of the global mobile phone accessories market share is based on product, distribution channel, price range and geography.
Based on the product, the market is segmented into Battery, Headset / Earphone, Smart Speaker, Charger, Memory Card, Power Bank, Battery Case, Protective Case, Bluetooth Speakers, Screen Protector, Watch smart, fitness bands, AR and VR headsets, mount and holder, data cables and selfie stick. Based on the distribution channel, the market is divided into online and offline. Based on the price range, the market is divided into low, mid, and high end. The geographic breakdown and analysis for each of the previously mentioned segments include regions including North America, Europe, Asia Pacific, and Rest of the World.
North America shows greater dominance in the global mobile phone accessories market, representing the highest market shares. This is attributed to factors such as the increased adoption of wireless accessories, the presence of advanced technologies and a greater inclination towards digitalization.
Asia-Pacific is expected to experience rapid development in the global mobile phone accessories market, growing with the highest CAGR, due to higher internet penetration, increasing adoption of smartphones and their reduced prices. The increase in per capita income and advancements in product technologies are further helping to complement the market growth in this region.
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