The global mobile phone accessories market is expected to reflect a healthy growth rate of over 6.5% CAGR for the duration of the assessment period from 2021 to 2031. The increasing 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 over the next decade â, says the IMF study.
Cell Phone Accessories Market – Top Things To Take Away
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 counterfeit 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.
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 forced to consider diversifying their production lines outside of China, with online sales channels gaining ground during the crisis period. The relaxation of industry regulations around 2021 will support the industry’s long-term growth, as wireless technologies are likely to generate significant 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.
For more market insight, request a sample of this report @ https: //www.futuremarketinsights.com/reports/sample/rep-gb-112
Manufacturers of mobile phone accessories focus on R&D and product innovation to introduce innovative products to expand their customer base. The growth of research and development has led to innovation in connectivity through various technologies such as AirPlay, Wi-Fi, Bluetooth and NFC. The focus is also increasingly on product launches.
- Huawei announced the launch of FreeBuds 4i with ANC to support ten hours of playback
- Syska launched 20,000mAh power bank with 18W support for fast charging
- Lumiford launched a range of wireless headphones, HD50, HD60 and HD70
Some of the major companies operating in the market are:
- Samsung Electronics Co., Ltd.
- Logitech International SA
- Harman International Industries, Incorporated
- Plantronics, Inc.
- Sony Corporation
- Apple Inc.
- Skullcandy Inc.
- GN Group
Mobile Phone Accessories Market By Category
type of product
- Power banks
- Protective cases and covers
- Portable speakers
- Memory cards
- Data cables
- Support and brackets
- Selfie stick
- Others (Stylus Pen)
Type of packaging
- Folding boxes
- Clear display boxes
- Clutches & Bags
- Packs of dressings
- By brands
- By 3rd Parties
- By White Brands / No Name Brands
- Retail outlets (multi-brand outlets)
- Electronics stores
- Points of sale
- Exclusive stores (branded stores)
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (MEA)