the valuation of the global mobile phone accessories market is around US$82,022.1 million in 2021
JUMEIRAH LAKES TOWERS, DUBAI, UNITED ARAB EMIRATES, January 6, 2022 /EINPresswire.com/ — The global mobile phone accessories market is expected to reflect a healthy growth rate of over 6.5% CAGR for the duration of the assessment period from 2021 to 2031. The rise in the global demand for mobile phone accessories can be largely attributed to the rapid growth in internet and smartphone penetration in countries around the world.
Efforts to develop and produce bespoke and personalized products, as well as industry strategies towards sustainable and efficient packaging formats will gain traction in the market over the next decade.
“With the rapid rise of the e-commerce sector, online stores are seeing increased consumer preference over conventional branded stores. As a result, traditional distribution channels are expected to experience a drop in revenue. Consumers also reflect a preference for mid-range mobile phone accessories, which will remain unchanged over the next decade,” the IMF study said.
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Mobile Phone Accessories Market – Major Takeaways
Online distribution channels show a higher growth rate thanks to easy access to the Internet and door-to-door delivery and replacement services.
Headphones and earphones will show stronger growth due to the standardization of USB C compatibility and frequent technological innovations.
China will remain a market leader due to its position as the main production center for mobile phones.
Changing lifestyles and improving disposable income reflect positive growth prospects in MEA.
Mobile Phone Accessories Market – Growth Factors
Rising levels of disposable income, particularly in emerging economies, are driving up sales prospects.
Strong global smartphone and internet penetration will support long-term growth.
Frequent new product launches in the industry promote long-term growth opportunities.
Mobile Phone Accessories Market – Constraints
The widespread presence of counterfeits and substandard products is a concern that limits sales prospects.
Lack of standardization of equipment globally is a major factor limiting adoption and international trade.
Explore Data on Mobile Phone Accessories Market with 197 Figures, 96 Tables and TOC. You will also find market segmentation at
Expected impact on the market by the coronavirus epidemic
The covid-19 pandemic has had a negative effect on the development of the mobile phone accessories market. Economic uncertainties have had little effect on consumer confidence in purchasing, with purchases mainly directed towards essential goods. Additionally, disruptions to raw material and component supply chains have led to delays in production and distribution channels, affecting sales.
Manufacturers are being forced to consider diversifying their production lines away from China as online sales channels gain ground during the crisis period. Easing of industrial regulations around 2021 will support the long-term growth of the industry, as wireless technologies are expected to attract strong consumer interest in the near future.
Some of the major manufacturers participating in the mobile phone accessories market are Case Mate Inc., Samsung Electronics Co. Ltd., SincoCase International Industrial, Logitech International SA, Seidio Inc., Harman International Industries Inc., Moftware Inc., Plantronics Inc. , TYLT Ballistic, Sony Corporaton, The Case Factory, Apple Inc., Bscstore Inc., Skullcandy Inc., Cambridge Soundworks Inc., GN Group, Kingston Technology Company Inc., Western Digital Corporation and Incipio Group, among others.
Major players in the moderately fragmented mobile phone accessories market have shown interest in product development and launch strategies aimed at building consumer loyalty in a competitive market, in addition to meeting geographic expansion goals.
In February 2021, Anker launched its PowerCore Magnetic 5K wireless power bank, with MagSafe compatibility aimed at iPhone 12 variants. In August 2020, telecom manufacturer Beetel revealed its entry into the accessories segment of mobile phones with the Flix brand of headphones, wireless stereos, wireless chargers and power banks. Apple also launched a new ecosystem of accessories compatible with the iPhone 12’s MagSafe magnetic back, including a smart battery case, snap-on batteries and more.
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Learn more about the report
FMI provides in-depth insights into the mobile phone accessories market. The market is segmented in terms of product type (power banks, batteries, chargers, protective cases & covers, headsets, portable speakers, memory cards, data cables, stands & mounts, selfie sticks and others) , type of packaging (folding cartons, transparent boxes, pouches and bags, shells, blisters and trays), sales category (by brands, by third parties, by white labels), price range (premium, medium and low) and sales channel (retail outlets, electronics stores, franchise outlets, exclusive stores and e-commerce), in seven regions (North America, Latin America, Europe, East Asia, South Asia , Oceania, Middle East and Africa).
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