In rural and urban areas, everyone wants to be constantly connected to each other in the family regarding business, work and various other reasons. Cell phones are electronic devices that erase distance by improving communications between human beings. In addition, cell phones play a crucial role in everyday life due to changes in lifestyles and increasing purchasing power of the population. The younger generation is turning to listening to music on portable devices such as tablets, smartphones, Bluetooth connected headphones, etc. The tech giants in the mobile phone accessories market are focusing on conquering local markets in order to generate a higher profit margin.
In recent years, increasing subsidies on mobile networks such as Jio, Airtel, Idea and others have started a revolution in the global mobile phone accessories market and this is expected to continue over the period of forecast. In the future, the global mobile phone accessories market is predicted to grow at triple-digit CAGR due to the craze for mobile phone music and video among the younger generation. In addition, technological advancements such as bluetooth speaker, light in selfie stick, built-in fan and noise canceling technology are expected to make the market more attractive during the forecast period.
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The global mobile phone accessories market can be segmented on the basis of product type:
- Portable speaker
â¢ Memory card
â¢ Power bank
â¢ Protective case
â¢ Headphones or headphones
The global mobile phone accessories market can be segmented on the basis of the price range:
The global mobile phone accessories market can be segmented on the basis of sales channel:
â¢ Secondary market
â¢ In line
Rising demand for wireless mobile accessories facilitating increased adoption of smart phones especially for online banking, shopping and other important applications is expected to drive the global market over the course of the forecast period. In addition, the increase in social networking as well as the increase in internet penetration among the global population is also expected to witness the growth of the global mobile phone accessories market throughout the forecast period.
Areas for improvement for market players
Based on a thorough investigation of mobile phone accessories, heavy use of earphones or mobile headphones can affect the hearing ability of human being. Thus, manufacturers should also focus on making devices more environmentally friendly and cost effective.
Regional market outlook
The global mobile phone accessories market is segmented into the following regions: North America, Latin America, Europe, APAC, and Middle East & Africa. The Pacific is expected to dominate the market due to the increase in the number of smartphones, especially in China, India and Japan. North America and Latin America are expected to experience rapid growth. In addition, Europe is expected to gain ground in the global market due to the growing interest of people in music sound quality and video effect. The Middle East and Africa region is expected to grow at a slow growth rate due to the deficit of mobile phone infrastructure.
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The key players in the global mobile phone accessories market are:
â¢ Beats (Apple)
Research methodology :
TMR is interviewing a number of companies to estimate the data covered in the report using the triangulation methodology. A detailed understanding of the market and an assessment of the training and application segments covered by the study. The research methodology also includes interviews conducted for various industry leaders by the research experts. This helps researchers match their previous findings with those confirmed by various resource people. The report focuses on analyzing supply-side approaches and keeps track of the demand-side approach to ensure that the conclusions are true. The global market scenario was derived from the consolidation of regional market overviews.
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