USD 83.4 billion
Report ID:
SQMIG45I2090 |
Region:
Global |
Published Date: December, 2024
Pages:
197
|Tables:
59
|Figures:
75
Global Mobile Phone Accessories Market size was valued at USD 83.4 billion in 2022 and is poised to grow from USD 89.1 billion in 2023 to USD 150.8 billion by 2031, growing at a CAGR of 6.8% during the forecast period (2024-2031).
The demand for mobile phone accessories is projected to increase as a result of the growing popularity of smartphones as an efficient means of communication worldwide, leading to market expansion in the forecast period. The market is also expected to be driven by the rising demand for wireless devices, as well as the frequent technological advancements in the industry. Companies are constantly introducing new and advanced technologies such as wireless headsets and speakers, which are boosting the market demand. In addition, the growing adoption of smartphones among teenagers has resulted in an increase in demand for specific accessories such as mobile covers and headphones. The market growth is further fuelled by the young working population, whose changing outlook and preferences have influenced the overall market growth. For instance, women tend to change their phone covers frequently, which affects the overall market growth, while men prefer accessories such as headphones and fast chargers. Additionally, mobile accessories have become increasingly popular among consumers due to their ability to simplify and streamline smartphone usage. For example, the introduction of smartwatches has made it easier to view notifications and receive calls without taking out the phone from the pocket, while power banks have made it simpler for consumers who use smartphones extensively and travel frequently. Furthermore, the increasing quality and features of smartphones at decreasing prices have led to an increase in the number of consumers, resulting in a growing demand for safety and security of the phones. This is because modern consumers are less likely to go the extra mile to keep their phones safe, trendy, and fashionable. Additionally, the growth in internet penetration, coupled with artificial intelligence incorporated by online retailers that provide pop-up notifications to users about new products, is also a prominent factor contributing to the market growth.
Global Market Size
USD 83.4 billion
Largest Segment
Protective Cases
Fastest Growth
Screen Protector
Growth Rate
6.8% CAGR
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Global Mobile Phone Accessories Market is segmented by Product Type, Distribution Channel, Price Range and Region. Based on Product Type, the market is segmented into Battery, Headphones, Portable Speaker, Chargers, Memory Card, Power Bank, Protective Case, Battery Cases, Screen Guard, Popsockets, Others. Based on Distribution Channel, the market is segmented into Online, Offline. Based on Price Range, the market is segmented into Low, Mid, High. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Mobile Phone Accessories Market Analysis by Type
By type, the market can be segmented into protective cases and screen protector. Protective cases dominated the mobile phone accessories market, accounting for a significant share of the overall revenue. The increasing consumer demand for smartphone protection against accidental drops, scratches, and damages has been a key driver for the growth of protective cases. These cases come in various materials, including plastic, silicone, leather, and metal, providing options for different consumer preferences and style choices. Among these materials, plastic cases are the most commonly used due to their affordability and availability in a wide range of designs.
The screen protectors segment is the fastest-growing segment in the mobile phone accessories market. As smartphone displays become larger and more delicate, consumers are increasingly recognizing the need to protect them from scratches, cracks, and smudges. Screen protectors, whether tempered glass or film-based, offer an additional layer of protection while maintaining the touch sensitivity and visual clarity of the smartphone screen.
Mobile Phone Accessories Market Analysis by Distribution Channel
By distribution channel, the market can be segmented into online retail and offline retail. Online retail dominated the mobile phone accessories market, accounting for a significant share of the overall revenue. The increasing adoption of e-commerce platforms and the convenience of online shopping have been key drivers for market growth. Consumers can easily compare prices, access a wider range of products, and shop from the comfort of their homes, making online retail an attractive option. Additionally, the availability of various payment options and quick delivery services has further contributed to the dominance of this segment.
The offline retail segment is the fastest-growing segment in the mobile phone accessories market. While the online retail segment dominates, offline retail still holds significant value, especially for consumers who prefer to see and touch products before purchasing. Offline retail includes physical stores, kiosks, and other brick-and-mortar outlets where consumers can purchase mobile phone accessories.
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North America dominated the mobile phone accessories market due to the high adoption rate of smartphones, rising disposable income, and the presence of major players in the market. The increasing demand for advanced mobile phone accessories, such as wireless chargers and cases, is driving the market in this region. Additionally, the growing trend of mobile phone accessories as a fashion statement among consumers has further propelled the growth of the market.
APAC is the fastest-growing region in the mobile phone accessories market due to the increasing adoption of smartphones and rising disposable income of the population in this region. Countries such as China and India are the major contributors to the growth of the market in this region. Furthermore, the availability of affordable mobile phone accessories and the presence of a large number of local players in the market are driving the growth of the market in this region.
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Mobile Phone Accessories Market Drivers
Increasing demand for wireless devices and advanced mobile phone accessories
Mobile Phone Accessories Market Restraints
Availability of counterfeit products in the market
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There are many local and international players in the highly competitive market for mobile phone accessories. To meet consumers' growing demand, businesses are continuously investing in R&D to introduce cutting-edge mobile phone accessories. Additionally, businesses are concentrating on strategic alliances and collaborations to increase their market presence and appeal to a larger consumer base.
Additionally, the increasing trend of mobile phone accessories as a fashion statement among consumers is prompting companies to focus on product design and aesthetics to differentiate themselves in the market.
Mobile Phone Accessories Market Top Player’s Company Profiles
Mobile Phone Accessories Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global mobile phone accessories market analysis, the market is expected to grow significantly due to the increasing demand for smartphones, coupled with the rising trend of wireless devices. The market is highly competitive with the presence of both local and global players. Companies are constantly investing in research and development to launch new and advanced mobile phone accessories to cater to consumers’ growing demand. Additionally, the increasing trend of mobile phone accessories as a fashion statement among consumers is prompting companies to focus on product design and aesthetics to differentiate themselves in the market. However, the availability of counterfeit products is a major restraint that poses a challenge for genuine manufacturers to establish themselves in the market. Another key trend in the market is the increasing popularity of eco-friendly and sustainable mobile phone accessories as consumers become more conscious of the environmental impact of the products they use.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 83.4 billion |
Market size value in 2031 | USD 150.8 billion |
Growth Rate | 6.8% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Mobile Phone Accessories Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Mobile Phone Accessories Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Mobile Phone Accessories Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Mobile Phone Accessories Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG45I2090
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