Phone accessories

Mobile phone accessories market to reach $107.3 billion by 2022, globally

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The Mobile Phone Accessories market summary can be accessed on the website at https://www.alliedmarketresearch.com/mobile-accessories-market

The factors driving the growth of the market are increasing demand for wireless accessories, growing adoption of smartphones, and increasing disposable income in developing countries such as China, Indiaand Braziland a strong distribution network in China, Indonesia, Braziland Russia. Further, the growth of the market is expected to be driven by increasing sales of smartphones and increasing internet penetration, popularity of social networking sites and growing customer need for convenience, which can be provided with mobile accessories such as power banks, headphones and others. Budget, security and the introduction of noise canceling technology are bolstering technological advancements in this market. However, the overuse of headphones affecting the hearing ability of users is a major limitation that limits the growth of the market.

The offline segment accounted for about 75% of the overall mobile accessories market in 2014, as majority of people prefer to buy mobile accessories from local stores rather than online stores. Furthermore, online retail is expected to be the fastest growing segment and is expected to register a CAGR of 10.2% during the forecast period. This is due to the growing trend of mobile shopping, cash on delivery, variety of options, and fast and secure refunds.

The headphone segment is expected to maintain its lead due to its ease of access and compatibility with other audio systems via Bluetooth or Wi-Fi connectivity. The power bank segment is expected to show the highest growth rate. high, with a CAGR of 9.2% due to rapid economic development, increasing consumer purchasing power and improving living standards, as well as increasing processor speed, the use of security and the growth of digital content. Additionally, increasing competition among regional and global players is expected to drive down the average selling price of power banks in the future; this would lead to increased adoption of power banks.

“In recent times, the demand for newly released smartphone accessories such as power banks and portable speakers has witnessed a noticeable growth due to consumers’ need for portable backup power and power. increased use of the Internet compared to digital products such as smartphones, tablets, phablets and others. The need for on-the-go entertainment has increased the popularity of portable speakers among smartphone users, and is expected to increase further in the future. over the forecast period”, as stated Deepankar BoseManager, Consumer Goods Research Area at AMR.

Protective cases generated the highest revenue in 2014 accounting for around 21% and this growth is expected to increase over the forecast period. This growth is attributed to companies that continuously focus on designing lightweight protective cases to provide customers with the convenience of holding their smartphones.

Asia Pacific accounted for the majority of revenue and is expected to maintain its dominance, due to increased production of mobile phones in countries such as China, India, Japan, Singaporeand Australia. Additionally, increasing disposable income, proliferation of e-commerce websites, digitalization of infrastructure with increased consumer spending capacity, availability of low-cost products and changing lifestyle provide opportunities which are fueling the growth of the market in this region. developing countries such as India and China have a high rate of economic growth, which is fueled by industrial and commercial development. The consumer electronics market is in its growth phase owing to the presence of major industry players in Japan and China, which focus on low-cost wireless products to capture market share. The companies manufacture their products in the Indian and Chinese markets due to low operating costs and raw material prices, as well as the availability of human labor.

Main results of the study:

  • In 2014, the offline segment dominated the market revenue and is expected to grow at a CAGR of 6.6% over the forecast period.
  • The online segment is expected to grow at a significant CAGR of 10.2%, owing to the rising mobile shopping trend.
  • The mid-range segment is expected to grow at a CAGR of 8.5%.
  • The power bank segment is expected to grow at the highest CAGR during the forecast period.
  • China is the largest shareholder, accounting for approximately 27% of the global mobile accessories market.

Key players are focusing on expanding their business activities in emerging countries, with the launch of new products as the preferred strategy. Key Players profiled in this report are Panasonic Corporation, Senheiser Electronic GmbH & Co. KG, Sony Corporation, Samsung Electronics Co. Ltd., Apple Inc., Bose Corporation, BYD Company Limited, Plantronics, Inc., Energizer Holdings, Inc. and JVC Kenwood Corporation.

Summary of Similar Rsreports can be accessedfrom to https://www.alliedmarketresearch.com/consumer-goods/consumer-electronics-market-report

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Allied Market Research (AMR) is a full-service market research and business advisory division of Allied Analytics LLP based in Portland, OR. Allied Market Research provides global corporations as well as small and medium enterprises with unparalleled quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

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SOURCE Allied Market Research