The increasing use of mobile phones and the expansion of 5G technology to facilitate operations and help keep these devices running smoothly is expected to have a significant impact on mobile phone accessories market. According to a study by Future Market Insights (IMF), the market will surpass US$86.80 billion by 2021.
With the integration of IoT in households, a rapid increase in the demand for mobile phone accessories has been observed, and this trend will continue in the near future. The emergence of 5G technology will also drive the demand for mobile phone accessories powered by augmented reality and virtual reality technology.
The high speed of 5G technology will provide better experience of wirelessly connected devices and will play a major role in driving the demand for wireless connectivity devices.
Additionally, growth in sales of smart homes and smart devices was a complementary factor for mobile phone accessories. The demand for protective cases and covers is expected to be very high. Nearly 20% of sales of mobile phone accessories are expected to focus on this segment.
With the advent of 5G technology, consumers will have a better experience of using smart devices due to better connectivity and high-speed internet, which is expected to fuel the demand for smart devices in the near future.
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Key Findings from Mobile Phone Accessories Market Research
- IMF in its latest study forecast the market to grow at a CAGR of around 6.7% between 2021 and 2031
- The United States is expected to record impressive growth, accounting for over 78% of overall North American sales
- The UK is expected to register annual growth of nearly 4% in 2021
- Demand from Germany and France is expected to increase significantly in response to the expansion of 5G networks
- While China will remain East Asia’s largest market, demand from South Korea and Japan is also expected to grow at a rapid pace.
Increased focus on miniaturization of electronic devices
Companies are focusing on introducing compact electronic components for printed circuit boards. This is intended to improve the performance of devices such as smartphones as well as reduce the overall cost of production.
Moreover, they are expanding their footprint especially in high growth markets such as India and China through various mergers and acquisitions. Mobile phone accessories are increasingly being adopted to enhance the end-user experience of mobile phone users, which has contributed to the growing demand for mobile phone accessories.
Impact of COIVD-19 and 2020 Market Analysis
The COVID-19 outbreak has encouraged governments and organizations to take exceptional measures to deal with the current crisis. These measures have led to the implementation of various movement and business restrictions, the transitional closure of organizations and the required physical distancing for an extended period.
The COVID-19 pandemic has fundamentally reduced global monetary action and caused critical instability in various sectors. The COVID-19 pandemic and the measures taken by countries in response have hurt the mobile phone accessories industry worldwide.
Some of the major players operating in the mobile phone accessories market are Samsung Electronics Co. Ltd., Logitech International SA, Harman International Industries Incorporated, Plantronics Inc., Apple Inc., Sony Corporation, GN Group, Incipio Group, Western Digital Corporation , Kingston Technology Company Inc., Cambridge Soundworks Inc., Bscstore Inc., The Case Factory, TYLT, Ballistic, Moftware Inc., Seidio Inc., Skullcandy Inc., SincoCase International Industrial, Case Mate Inc., and among others. In order to gain a competitive edge, market players are focusing on product launches. For example:
- In May 2020, Skullcandy Inc. had launched its new True Wireless headphones – Push Ultra, Indy Evo, Indy Fuel and Sesh Evo. This would help the company to attract more customers as it had also added new features such as wireless charging, solo headphones and Tile technology which would help the customer have a unique experience on the market.
- In December 2020, Apple Inc. launched the AirPods Max, wireless headphones. The new AirPods Max feature advanced software to power computer audio for a revolutionary listening experience with adaptive equalizer, active noise cancellation, transparency mode and spatial sound. It would help customers to have a revolutionary listening experience.
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Mobile Phone Accessories Market by Category
Type of product:
- Power banks
- Protective cases and covers
- portable speakers
- Memory cards
- Data cables
- Mounting and Brackets
- Selfie stick
- Others (stylus)
Type of packaging:
- Folding boxes
- Clear View Boxes
- Pouches & Bags
- Bandage packs
- By Brands
- By third parties
- By white labels/no name brands
Sales channel :
- Points of sale (multi-brand points of sale)
- Electronic stores
- Franchised points of sale
- Exclusive stores (brand stores)
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (MEA)
Obtain valuable insights into the Mobile Phone Accessories Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global mobile phone accessories market, showcasing historical demand data (2016-2020) and forecast statistics for the period 2021-2031. The study discloses compelling insights into the Mobile Phone Accessories Market based on Type of Packaging (Folding Cartons, Clear Boxes, Pouches & Bags, Clamshells, Blisters & Trays), Product Type (Power Banks, batteries, chargers, wired, wireless, protective cases and covers, headphones, portable speakers, memory cards, data cables, stands and holders, selfie stick and others), sales category (brands, 3rd and white/no-name brands), price range (premium, mid and low), sales channel (outlets, electronics stores, franchise outlets, exclusive stores, e-Commerce) across seven major regions.
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About Future Market Insights (IMF)
Future Market Insights (FMI) is a leading provider of market information and advisory services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, USA and India. FMI’s latest market research reports and industry analysis help businesses meet challenges and make critical decisions with confidence and clarity amidst fierce competition. Our custom and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of analysts led by FMI experts continuously monitor emerging trends and events across a wide range of industries to ensure our clients are prepared for the changing needs of their consumers.
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