Mobile Phone Accessories Market to Grow at 5.0% CAGR by 2030
Constant growth in the adoption of smartphone linked with technological advancement followed by growth in disposable income & new product launches are expected to drive the growth of Mobile Phone Accessories industry during the forecast period of 2023-2030.
The Mobile Phone Accessories Market is expected to grow at the CAGR of 5.0% from 2023-2030, according to a new research report by Next Move Strategy Consulting.
Mobile phone is an important device and plays major role in modern days as well as supports in almost all the activities. Mobile phones accessories are the additional or supportive components of the mobile phone which further helps and enhance the overall function & use. These include various hardware & software components such as earphone, speaker, charger battery and others.
According to the report, there has been constant growth in the adoption of smartphone along with surge in the communication industry. There has been advancement in terms of technology as well as growth in disposable income has also created the demand for mobile phone accessories on a large scale. In addition, there has been growth in wireless technology which is further crating demand for wireless earphones, speakers, chargers and others. On the other hand, growth in digital platforms along with new product launches as well as development of third party applications has created demand for mobile phones which in turn fuel the mobile phone accessories market. Moreover, changing consumer preferences along with growing demand for portable accessories can change the market trend.
However, high cost of mobile phone accessories as well as increased use of headphones may cause hearing problems which can restrain the market growth. Moreover, growth in research & developments activities led to innovation along with development of new smartphone with advanced technology is anticipated to provide numerous opportunities to the market in the coming few years.
On the basis of Product, the mobile phone accessories market share is segmented into Battery, Headphone/earphone, Portable speaker, Charger, Memory card, Power bank, Battery case, Protective case, and others. Headphone & earphone dominates the global mobile phone accessories market in terms of market share and will be the dominant during the forecasted period.
On the basis of distribution channel, the mobile phone accessories market is categorised into online and offline. Online segment is expected to grow with significant CAGR over the forecast period owing to the growth in e-commerce & maintain its dominance over the forecast period.
Based on distribution channel, the market is categorized into low, medium & premium. Premium segment accounts for the major market share and will be dominant over the forecast period.
North America is likely to account for the highest size & share of the mobile phone accessories market in the forecast period 2020–2030 owing to the huge demand for mobile phones led to the growth in mobile phone accessories market. In addition, technological advancement with high disposable income as well as presence of major market player in the region drives the market growth. Europe accounts for the second leading position in the mobile phone accessories market size. Asia Pacific is expected to be the fastest developing region in the mobile phone accessories market which is majorly driven by the surge in smartphone use along with high internet penetration in the region. Moreover, growth in disposable income along with high adoption rate of advanced technology is likely to enhance the market growth.
According to the report, some the key players in the mobile phone accessories market are Samsung Electronics, Energizer, Panasonic Corporation, Sony Corporation, JVC Corporation, BYD Inc., Beats (Apple Inc.), Sennheiser Electronics GmbH & Co. KG, Otterbox, Bose Corporation, Plantronics Pty Ltd, and Griffin Technology.
Browse key industry insights from the report at https://www.nextmsc.com/report/mobile-phone-accessories-market in detail along with the table of contents:
Key Insights from the Mobile Phone Accessories Market Report:
- Asia Pacific is the fastest growing Mobile Phone Accessories market owing to the rising demand of smartphone along with high internet penetration followed by growth in disposable income.
- The online segment dominates the segment and is expected to grow at significant CAGR to maintain the led in 2030.
- Some of the major players in the market are Samsung Electronics, Energizer, Panasonic Corporation, Sony Corporation, JVC Corporation, BYD Inc., Beats (Apple Inc.), Sennheiser Electronics GmbH & Co. KG, Otterbox, Bose Corporation, Plantronics Pty Ltd, and Griffin Technology.
The report Mobile Phone Accessories market – segmented by product, distribution channel, price range and geography
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