Mobile Phone Accessories Market
The global mobile phone accessories market was valued at US$ 245.3 billion in 2021 and it is anticipated to grow up to US$ 328.9 billion by 2031, at a CAGR of 3.0% during the forecast period.
Mobile phone accessories encompass any hardware that is not essential to the operation of a mobile smartphone as designed by the manufacturer. The main purpose of these phone accessories is to keep you secure and provide other benefits. Mobile phone accessories are items that are not required to use a phone. However, it does personalize or provide additional features.
Some accessories are cases, which are similar to clothing/armor in that they don’t perform much other than make it look fancy. However, a sufficiently rigged case can keep users phone from shattering. Earphones is also an accessory, it allows the user to listen to music quietly. As most of the companies don’t offer earphones with mobile, it is one of the most selling accessories.
Global Mobile Phone Accessories Market Scope and Report Structure
|Market Size in 2021||US$ 245.3 Billion|
|Market Size in 2031||US$ 328.9 Billion|
|Segments Covered||Product Type, Distribution Channel, Price Range, and Region|
|Key Companies||Apple Inc.(U.S.), Case-Mate (U.S.), GN Group(Denmark), Harman International Industries Inc.(U.S.), Incipo Group(UK), Kingston Technology Company (U.S.), Platronics Inc.(U.S.), Samsung Electronics Co., Ltd.(South Korea), Sony Corporation(Japan), and The Case Factory(Sweden)|
|Regional Scope||North America, Europe, Asia Pacific, Central & South America, Middle East & Africa|
|Analysis Coverage||Market Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments|
Market Drivers and Trends
The global mobile phone accessories market is being driven by the rise in demand for wireless accessories propels the growth of the mobile phone accessories market. This rise in demand can be attributed to a shift in client preferences for listening to music on portable devices such as smartphones and tablets. Music can be easily accessed via music streaming sites such as YouTube and SoundCloud. The rise in disposable money and the popularity of social networking sites such in metropolitan areas have fuelled demand for mobile phone accessories. Furthermore, increased internet penetration increases the online selling platform. However, excessive usage of headphones impairs users’ hearing ability, limiting market growth. Rapid technical advancements, such as noise cancelling technology, Bluetooth speakers, and selfie sticks with built-in fans and lighting are driving the market.
Market Restraints and Challenges
Piracy is a huge threat to a variety of businesses, including the mobile phone accessory market. The materials used, sound qualities and durability of pirated products are inferior to those given by famous mobile accessory manufacturers.
Pirated products, on the other hand, are sold at a fraction of the cost of authentic ones. Consumers, particularly in developing countries such as China and India, are drawn to these products. As a result, the availability of counterfeit products is significantly impeding the growth of the mobile phone accessories industry.
Global Mobile Phone Accessories Market Segmental Overview
The report analyses the global mobile phone accessories market based on product type, distribution channel, price range, and region.
Global Mobile Phone Accessories Market by Product Type
Based on product type, the mobile phone accessories market is segmented as battery, headphone, portable speaker, charger, memory card, power bank, battery case, protective case, screen guards, popsockets and others. The headphone market is expected to grow throughout the forecast period. Consumer need for style and high-fidelity is driving technological advancements. The inclusion of advanced technologies such as active noise cancellation (ANC) and near field communication (NFC) is expected to provide users with a better listening experience and greater fluidity in connecting to their music devices. The presence of active noise cancellation (ANC) technology, for example, in earbuds and headphones removes background noise, boosting sound quality. By just tapping the wireless headphones and music device together, near field communication (NFC) connects them.
The use of earbuds and headphones for fitness activities in a variety of climatic circumstances, such as rain and dust, has prompted manufacturers to improve the durability of their devices. Due to these factors mentioned above, the headphones segment is expected to hold a major market share in 2021.
Global Mobile Phone Accessories Market by Distribution Channel
Based on distribution channel, the mobile phone accessories market is bifurcated into online and offline. The offline segment is expected to be the largest segment in the Mobile Phone Accessories market in 2021. The online segment use to have very less market share due to less people showing interest in virtual shopping. Especially people are showing interest to purchase electronic devices by looking at hem and feel by touch. The online segment is currently as equal as offline segment, but that happened due to covid-19. It created the necessity for people to opt online shopping, thus during the forecast period the sales in offline shopping might decrease. The online has its advantages, online shopping is booming across the country, and the items we require are only a click away. Needless to say, nearly all mobile accessory manufacturers have made their items available online. Furthermore, these products are priced with low, mid, and high budget customers in mind, appealing the majority of individuals. Online shopping, of course, is a driving force in the expansion of the mobile accessories market. The reasons support the market growth for online during the forecast period but considering the current scenario the offline segment has the upper hand. Thus, the offline segment will likely hold a major market share in 2021.
Global Mobile Phone Accessories Market by Price Range
Based on price range, the mobile phone accessories market is segmented into premium, mid, and low. The premium segment held the biggest market share. Customers’ preferences for premium products have grown as their lives have changed and their purchasing power has increased. Globalization and financial expansion, particularly in developing nations, offers attractive chances for various enterprises to leverage on and strengthen their market position. Thus, the premium segment will likely hold a major market share in 2021.
Geographical Analysis of Global Mobile Phone Accessories Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. During the projection period, the Asia Pacific mobile phone accessories market will be the fastest-growing region in the world.
Korea is one of the countries in the region that is taking a significant portion of the market as disposable income rises and the youth population grows. The presence of several companies offering trendy mobile phone accessories boosts the growth of the Korean mobile phone accessories market over the predicted period. Because of its enormous present and potential consumer base, Korea provides appealing growth opportunities for mobile phone accessory manufacturers. The rise of e-Commerce channels, combined with an increase in customer buying power, boosts mobile phone accessory sales in Korea. The simple availability of raw materials and low-cost production, as well as the presence of numerous industrial stakeholders in the region, will all contribute to increased output. This, in turn, boosts the demand for Mobile Phone Accessories in the Asia Pacific region.
Major Players in the Global Mobile Phone Accessories Market
The key players studied in the global mobile phone accessories market are as Apple Inc. (U.S.), Case-Mate(U.S.), GN Group(Denmark), Harman International Industries Inc. (U.S.), Incipo Group(UK), Kingston Technology Company Inc. (U.S.), Platronics Inc. (U.S.), Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan), and The Case Factory(Sweden).
In 2019, the growth of Mobile Phone Accessories market was rising due to the rising population in developing countries, high demand in the smart phones.
In 2020, the COVID-19 virus had a detrimental influence on the mobile phone accessory business due to severe lockdowns and social distancing to control the infection’s propagation. Economic instability, a partial corporate shutdown, and poor consumer confidence all reduced demand for mobile phone accessories. During the pandemic, the supply chain was disrupted, as were logistics efforts. However, due to the relaxation of regulations, the mobile phone accessories market is projected to pick up steam in the post-pandemic scenario.
However, once the situation has normalized, the global Mobile Phone Accessories market is predicted to increase significantly.
- July 2021, Xiaomi Corporation, a Chinese technology business, has released the Mi Hypersonic power bank, which features 50W quick charging and triple swapping ports.
- July 2021, Nothing, a technology startup based in the United Kingdom, has released the Nothing ear 1, a pair of wireless earbuds featuring a sophisticated 11.6 mm driver and precise touch control.
- May 2020, Sennheiser electronic GmbH & Co. KG has decided to release a new product known as the Sennheiser HD 458BT. This advancement will assist the organization in expanding its product portfolio and income in the near future.
Frequently Asked Questions
Q1. How big is the mobile phone accessories market?
Ans. The global mobile phone accessories market size was US$ 245.3 billion in 2021 and is anticipated to reach US$ 328.9 billion in 2031, growing at a rate of 3.0% from 2022 to 2031.
Q2. What is the mobile phone accessories market growth rate?
Ans. The growth rate of the mobile phone accessories market is 3.0% from 2022 to 2031.
Ans. Asia Pacific holds a major market share of the mobile phone accessories market in 2021.
Q4. Which segment accounted for the largest mobile phone accessories market share?
Ans. Based on type, the mobile phone accessories market is segmented as battery, headphone, portable speaker, charger, memory card, power bank, battery case, protective case, screen guards, popsockets and others. The headphone market is expected to grow throughout the forecast period.
Q5. Who are the key players in the mobile phone accessories market?
Ans. The global mobile phone accessories market report includes players such as Apple Inc. (U.S.), Case-Mate(U.S.), GN Group(Denmark), Harman International Industries Inc. (U.S.), Incipo Group(UK), Kingston Technology Company Inc. (U.S.), Platronics Inc. (U.S.), Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan), The Case Factory(Sweden).
Q6. What are the factors driving the mobile phone accessories market growth?
Ans. The major factor driving the growth of the market is the exponential increase in the number of mobile phone users and the increasing number of social network users.
Q7. What are the key growth strategies of mobile phone accessories market players?
Ans. The key growth strategies of mobile phone accessories market players are product launch, partnerships, and government initiatives.
Ans. The Asia Pacific region will provide more business opportunities for the mobile phone accessories market during the forecast period.Read More