Global Cell Phone Accessories Market (2021-2029) – Including Sony, Samsung and Apple

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DUBLIN, July 14, 2021– (BUSINESS WIRE) – The report “Mobile Phone Accessories Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecast, 2021 to 2029” has been added To ResearchAndMarkets.com offer.

The global mobile phone accessories market was worth USD 81.4 billion in 2019 and is expected to reach USD 152.03 billion by 2029, at a CAGR of 6.3% during the forecast period of 2021 to 2029.

The world’s population is expected to reach 9.6 billion by the end of 2050 (UN data). Due to the increase in population, the general population’s preference for mobile accessories has also increased. In developing countries such as Asia Pacific and Middle East, due to population growth, the demand for mobile phone accessories is expected to further drive the market. India’s population has crossed over 1.2 billion people, of which 50% of the country’s population is under the age of 25. More than 65% of the population is under 35 years old.

At present, cell phone accessories are in high demand by smartphone users all over the world. The mobile phone accessories market is mainly dependent on the penetration of smartphones all over the world. Over the next few years, the smartphone market is expected to achieve remarkable growth due to the increasing necessity and online shopping trends. A significant reduction in the selling prices of smartphones, the increasing trends of online video streaming, increasing access to social networks and the like are likely to meet the demand for smartphones, which will have a positive impact on the growth of the mobile phone accessories market during the forecast period.

New applications promise immense opportunities

The mobile phone accessories market offers immense opportunities for manufacturers due to the large number of mobile device users and the substantial growth in the adoption of smartphones and tablets. This is further supported by a steady decline in smartphone prices across the world. The increase in disposable income has transformed the buying and spending habits of consumers, especially in urban areas. The adoption of the mobile device among young people around the world is a powerful stimulus for the growth of the market. In addition to this, the increasing penetration of the internet is increasing the trend of online retailing in the mobile accessories market due to the convenience of the cash on delivery option and the various discounts offered by them. online retailers for the products. This is expected to catalyze the growth of the global mobile phone accessories market.

The pandemic remains the game changer

On the basis of the sales channel segmentation of the mobile phone accessories market, the report segments the market on the basis of multi-brand store, single-brand store, and online store. Online stores accounted for the largest mobile phone accessories market revenue by sales channel in 2020, mainly attributed to the impact of COVID-19 which has imposed lockdowns in various countries around the world. Before COVID-19, multi-brand stores held the highest percentage market share. The multi-brand store facilitates consumer convenience and group buying benefit. Single-brand stores such as Apple stores that carry premium accessories specially designed around their individual brands accounted for the third largest share in 2020.

Market penetration in Asia-Pacific

The increasing movement of people from rural to urban areas, increasing household disposable income and changing lifestyles, especially in Asian countries such as China and India, are expected to drive the growth of the economy. global mobile phone accessories market between 2019 and 2029. The availability of Fashionable and fashionable cell phone cases, stylish and colorful headphones, rising battery and charger replacements will drive the demand for accessories for cell phones around the world over the next few years. The Asia-Pacific mobile phone accessories market dominated with the maximum revenue share in the total revenue of the global mobile phone accessories market by region in 2019. Over the next few years, Latin America, the Middle East and Africa as well as Eastern European mobile phone accessories market is expected to thrive at a high CAGR until 2028. This is mainly due to increasing urbanization as well as demographic change and the increase in personal disposable income in the regions mentioned. The mobile phone accessories market is extremely fragmented and characterized by the presence of national and global players.

Market dynamics

Conductors

  • Population increase and income increase

  • Rising disposable income is expected to boost demand for cellphone accessories

  • Growth in emerging economies

  • Increased demand for smartphones

  • Wireless smartphone accessories

  • Advances in image and photography props

  • Emergence of e-commerce websites

  • Strong distribution channels

  • Social trends

  • Technological advances

  • Social media

  • Lower smartphone prices

Constraints

  • Price competition from Chinese suppliers squeezes margins

  • Lack of standardization and brand awareness

  • Threat to privacy

  • Hearing impairment

  • Competition between major manufacturers

  • Low adoption of smartphones in rural areas

  • Irregularities in the distribution of energy

  • Other issues related to restricting the growth of the mobile accessories market

Companies mentioned

  • Sony

  • Zagg

  • Samsung

  • Apple

  • Griffin

  • Bose

  • Beats

  • SanDisk

  • Jabra

  • BYD Electronics

  • Energizer Holding Inc

  • LG Chem Power Inc

  • HTC Inc

  • Panasonic

  • otter

  • Pelican products

  • BodyGuardz Products

  • Plantronics

  • JVCKENWOOD

  • Strontium technology

  • Transcending information

  • ILUV creative technology

  • Logitech

  • Philips

For more information on this report, visit https://www.researchandmarkets.com/r/d00m45

See the source version on businesswire.com: https://www.businesswire.com/news/home/20210714005446/en/

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