Phone accessories

Why are phone accessories important?

mobile phone accessories market

Mobile phone accessories means any hardware that is not included in the operation of a mobile smartphone by the manufacturer. These accessories include protective cases, USB cables, headphones, data cables, Bluetooth headsets, power banks, screen protectors, mobile chargers, and more. The mobile phone accessories market offers immense opportunities for manufacturers owing to a large number of mobile device users and substantial growth in the adoption of smartphones and tablets. The global mobile phone accessories market is focused on six regions, namely North America, Latin America, Europe, Asia-Pacific, Middle East and Africa.

Global Mobile Phone Accessories Market was valued at USD 80,947.0 Million in 2019 and is projected to reach USD 139,104.2 Million by 2027.

Rising disposable income and growing global population is expected to drive the growth of the global mobile phone accessories market
The common people’s preference for mobile accessories, especially in emerging economies, has increased due to the rise in disposable income in the recent past. According to Coherent Market Insights analysis, in 2015, global disposable income increased by 3.1% compared to 2014. In addition, population growth, especially in emerging regions such as MEA and Asia- Pacific, is expected to drive demand for mobile phone accessories. According to the United Nations (UN), the world’s population is expected to reach 9.6 billion by 2050, up from 7.2 billion in 2013. Additionally, the GDP of emerging economies is increasing significantly, which is expected to boost market growth in during the forecast period.

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Growing smartphone penetration is expected to propel growth over the forecast period
The proliferation of smartphones in emerging economies such as Indonesia, Brazil, and China has increased dramatically and continues to grow at a rapid rate. This is due to the growing internet penetration and growing popularity of social media platforms in countries. According to Coherent Market Insights analysis, worldwide smartphone shipments increased from 1.1 billion units in 2013 to 1.2 billion units in 2014. Of all shipments, more than 45 % of smartphone units were shipped in China in 2014. Additionally, the rising trend of mobile shopping, online banking, and BOYD are other factors expected to propel the growth of the global smartphone accessories market. mobile phones during the forecast period.

Statistics: APAC led the global mobile phone accessories market in 2019, accounting for 52.3% share by value, followed by Europe, North America, Latin America and from the Middle-East.

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This press release was published on openPR.