Phone accessories

Mobile phone accessories market shows rapid growth

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According to the report published by The Brainy Insights, the global market for mobile phone accessories is expected to grow from USD 84.1 billion in 2021 to USD 157.3 billion by 2030, at a CAGR of 7.20% during the forecast period 2022-2030. North America has emerged as the largest market for the global mobile phone accessories market, with a 34.5% market revenue share in 2021.

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North America is currently dominating the mobile phone accessories market owing to changing lifestyles and rising per capita income which is expected to propel the market over the forecast period. Likewise, the growing need for smartphones in the region is driving the demand for accessories. It is mainly due to increasing urbanization and demographic change. The mobile phone accessories market is highly fragmented and represented by the existence of national and global players.
Mobile Phone Accessories Market Size by Price Range (Mid, Low & High End) Product Type (Popsockets, Headset/Earphone, Portable Speaker, Battery, Protective Case, Power Bank, Charger, Card memory, battery case, screen protectors and others), distribution channel, regions, global industry analysis, share, growth, trends and forecasts 2022 to 2030.

Major companies in the sector include Apple India Pvt. Ltd., Belkin India Pvt. Ltd., Callmate (India) Pvt. Ltd., Case-Mate India Pvt. Ltd., Eon Electric Ltd., Intex Technologies (India) Ltd., Moftware Infotech Pvt. Ltd., Optiemus Infracom Ltd., PNY Technologies Asia Pacific Ltd., Samsung India Electronics Pvt. Ltd., among others, which provide greater opportunities and continuously focus on new product development and venture capital investments to gain market share.

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The price range segment is divided into medium, low and high end. The premium segment dominated the market, with a market share of around 34% in 2021. The product type segment is divided into popsockets, headphones/earphones, portable speaker, battery, protective case, power bank. power supply, charger, memory card, battery case, screen protectors, and others. The protective case segment dominated the market, with a market share of approximately 12% in 2021. The distribution channel segment is divided into online and offline. The offline segment dominated the market, with a share of around 62% in 2021.

The pandemic had a significant negative effect on sales due to the closure of the retail sector. However, the growing focus on home experiences led to a recovery in sales from the third quarter. During the mid-lockdown period, i.e. May 2020, the market saw slow growth due to the crisis in available products as a result of the delay in production during the pandemic. The sequels continued to impact the market during the post-lockdown, leading to slow sales development. E-commerce has boosted sales of well-known home appliance brands in the post-lockdown phase.

However, the supply chain was little impacted due to the lockdown. And the impact was short-lived, and businesses are gearing up to rebound with higher sales in the period ahead.

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Avinash D
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This press release was published on openPR.