Phone accessories

Global Mobile Phone Accessories Market (2021 to 2029) – Featuring Sony, Samsung and Apple, among others – ResearchAndMarkets.com

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

Global Mobile Phone Accessories Market was valued at USD 81.4 Billion in 2019 and is projected to reach USD 152.03 Billion by 2029, growing at a CAGR of 6.3% during the forecast period from 2021 to 2029.

The population is expected to reach 9.6 billion worldwide 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 the Middle East, owing to population growth, the demand for mobile phone accessories is expected to further drive the market. India’s population is 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.

Currently, mobile phone accessories are in great demand among smartphone users all over the world. The mobile phone accessories market mainly depends on the penetration of smartphones worldwide. Over the next few years, the smartphone market is expected to experience remarkable growth owing to the growing necessity and online shopping trends. Significant reduction in the selling prices of smartphones, rising trends in online video streaming, increased access to social media and others are likely to meet the demand for smartphones which will have a positive impact on the growth of the market mobile phone accessories over the forecast period.

New applications promising 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 globe. The increase in disposable income has transformed consumer buying and spending habits, especially in urban areas. The adoption of mobile devices by young people across the world is highly driving the growth of the market. In addition, increasing internet penetration is exploding the trend of online retailing in the mobile accessories market owing to the convenience of cash on delivery option and various discounts offered by 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

Based on sales channel segmentation of 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 revenues in the mobile phone accessories market by sales channel in 2020, mainly due to the impact of COVID-19 which implemented lockdown in various countries around the world. Before COVID-19, multi-brand stores held the highest percentage of market share. The multi-brand store facilitates consumer convenience and group buying advantage. Single-brand stores such as Apple stores that offer high-end accessories specifically 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 global mobile phone accessories market from 2019 to 2029. The availability of fashionable and fashionable mobile phone cases, stylish and colorful earphones, rising batteries 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 total revenue of the global mobile phone accessories market by region in 2019. In the next few years, Latin America, The Middle East & Africa as well as Eastern Europe mobile phone accessories market is expected to flourish at a high CAGR through 2028. This is primarily driven by increasing urbanization as well as growing demographic change and the increase in personal disposable income in the regions mentioned. The mobile phone accessories market is highly fragmented and characterized by the presence of domestic and global players.

Market dynamics

Drivers

  • Increase in population and increase in income

  • Rising disposable income expected to drive demand for mobile phone accessories

  • Growth in emerging economies

  • Increased demand for smartphones

  • Wireless Smartphone Accessories

  • Advances in picture and photography accessories

  • Emergence of e-commerce sites

  • Strong distribution channels

  • Social trends

  • Technological advances

  • Social networks

  • Falling 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 power distribution

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

Companies cited

  • sony

  • Zagg

  • Samsung

  • Apple

  • Griffin

  • Bose

  • Beats

  • SanDiskComment

  • Jabra

  • BYD Electronics

  • Energizer Holding Inc.

  • LG Chem Power Inc.

  • HTC Inc.

  • panasonic

  • otter

  • Pelican products

  • BodyGuardz Products

  • Plantronics

  • JVCKENWOOD

  • Strontium Technology

  • transcend information

  • iLUV Creative Technology

  • Logitech

  • Phillips

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