LONDON–(BUSINESS WIRE)–The global mobile phone accessories market is expected to grow at a CAGR of over 4% during the period 2019-2023, according to the latest market research report from Technavio.
One of the main factors driving customers to opt for mobile phone accessories is the level of convenience offered by the additional components. The adoption of wireless accessories provides customers with the convenience of wireless portability. Growing customer preference for accessing digital content like gaming apps, social media, music, and movies on portable devices while on the go has increased the demand for wireless accessories. Hence, the demand for mobile phone accessories such as chargers, headphones, earphones, speakers and power banks, in the wireless category, is increasing.
According to Technavio, the growing emphasis on improving telecommunications network infrastructure will have a positive impact on the market and contribute significantly to its growth over the forecast period. This Global Mobile Phone Accessories Market 2019-2023 The research report also analyzes other significant trends and market drivers that will affect the growth of the market during the period 2019-2023.
Global Mobile Phone Accessories Market: Increased Focus on Improving Telecom Network Infrastructure
Smartphone manufacturers, government organizations, and telecom service providers are working together to improve the telecom network infrastructure to support high network bandwidth capacity. This accelerates investments in 4G/5G networks and developments in 4G/5G-enabled devices. The increasing attention given to the expansion of telecommunication network coverage by various government organizations across the world is driving investments in telecommunication network infrastructure. This has given impetus to the adoption of various network technologies such as 4G and paves the way for the upcoming adoption of high-speed 5G networks. This, in turn, will accelerate the use of cell phones to access online audio and video content, which will drive a high demand for cell phone accessories.
“Along with the growing focus on improving telecommunications network infrastructure, the proliferation of low-cost smartphones is another factor driving the growth of the global market. The availability of low cost smartphones is increasing in countries like India, Vietnam, Sri Lanka and Pakistan. This has given global mobile phone accessories sellers many opportunities to increase their sales,” he added. says a senior analyst at Technavio.
Global Mobile Phone Accessories Market: Segmentation Analysis
This market research report segments the global mobile phone accessories market by product (protective cases, screen protectors, headphones and earphones, wired chargers, power banks, portable speakers, SD cards, wireless chargers, etc.) wire, batteries and other products) and by geographical regions (APAC, North America, Europe, South America and MEA).
APAC region dominated the market in 2018, followed by North America, Europe, South America and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to increasing investment in telecommunication infrastructure and growing smartphone penetration.
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