Pune, India, Sept. 24, 2018 (GLOBE NEWSWIRE) -- The global smartphone screen protector market size is portended to reach USD 37,380.2 million by 2023, exhibiting a strong 9.92% CAGR from 2018 to 2023 (forecast period), as per the latest market report by Market Research Future (MRFR). Increasing sales of smartphones is the primary factor driving the market demand. Furthermore, the surfeit of options available owing to easy financial phones from banks and a bevy of options to choose from depending on size, specifications, design, and color is bound to boost product numbers till 2023.
The latest offerings of smartphones have garnered high acclaim and interest among consumers. Changing designs of smartphones combined with inclination towards curved phones and phones with edge-less shapes by consumers are expected to disrupt the market. Emergence of gaming-related phones require haptic responses to operate, with many continuously handling the screen. In order to protect and prevent the screen from cracks and other damage, smartphone screen protectors derived using the toughest materials have been offered in abundance in the market.
The expendable incomes of consumers and the various demographics ready to procure protective gear for their phones owing to awareness is likely to bode well for the market. Furthermore, the market for refurbished phones and proliferation of ecommerce has created the demand even in rural areas. According to the Organization for Economic Corporation and Development (OECD), the global population can add another 1.6 billion to its numbers by 2034, creating the need for tempered glass.
Key players operating in the smartphone screen protector market include FeYong Digital Technology Limited, Shenzhen Yoobao Technology Co., Ltd, ZAGG Inc., SCHOTT AG, AGC, BodyGuardz, Belkin International, Inc., AZ Infolink Private Limited, Corning Incorporated, Nippon Electric Glass Co., Ltd., and others. Acquisitions, agreements, joint ventures, and new product launches are strategies being incorporated by these players to gain a competitive edge in the market. This is exemplified by the partnership agreement between ZAGG and CPR Cell Phone Repair in 2018 to create franchises across North America. This can culminate to the sprouting of 460 centers in the U.S. and Canada.
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The Smartphone Screen Protector Market is segmented by material type, product type, size, and application.
By material type, the market is segmented into thermoplastic polyurethane (TPU), polyethylene terephthalate (PET), and glass. The glass segment valuation can touch USD 24,531.3 million by 2023, while TPU and PET segments can register USD 6,922.7 million and USD 5,926.2 million respectively. Its capacity and its defensive properties compared to its counterparts can be credited to its high valuation.
Types of protectors are segmented into 2.5, 2.5D, 3D, 9.5H, and others. The 2.5D segment is forecasted to touch a size of USD 13,295.19 million by the end of the forecast period.
The protectors are available in the following sizes – 0.21 mm, 0.26 mm, 0.33 mm, and 0.48 mm. The 0.21 mm segment accounted for 38% share in 2017. It is expected to dominate the smartphone screen protector market owing to its easy application on smartphones.
Major applications include smartphones and tablets. The smartphones segment accounted for 84% share, on the basis of revenue, in 2017. The segment is touted to generate USD 32 million by 2023.
Browse the market data and information spread across 110 pages with 270 data tables and 21 figures of the report “Smartphone Screen Protector Market Report - Forecast 2018-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/smartphone-screen-protector-market-2101
The smartphone screen protector market covers upcoming trends and opportunities across five regions – North America, Latin America, Asia Pacific (APAC), the Middle East & Africa (MEA), and Europe.
The APAC region accounted for 47% share of the global market in 2018 and dominated the market that year. The disposable income levels of consumers can propel the regional market size to USD 18,493.4 million by 2023. Demand for luxe phones and tablets is expected to induce demand for scratch-resistant protectors.
The Europe smartphone screen protector market is projected to expand at an 8.75% CAGR over the forecast period. Countries such as Russia, France, Italy, Germany, the U.K., and Spain are major countries expected to contribute to market revenue till the end of the forecast period. Russia, in particular, is witnessing a strong economy and may expand at a 10.03% CAGR till 2023.
The North America region accounted for 16% share in 2017 and may touch a valuation of USD 5,913.1 million by 2023. It is expected to experience growth at a 9.20% CAGR during the forecast period.
The Latin America and the MEA markets can register a modest growth rate during the next five years.
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