Wilmington, Delaware, United States, Sept. 04, 2023 (GLOBE NEWSWIRE) -- The global mobile phone accessories market boasted an estimated worth of US$ 278.7 billion in 2022. Over the next decade, from 2022 to 2031, it is poised for continuous expansion at a 6% CAGR, with expectations to reach a market value of US$ 469.6 billion by 2031.
Smartphones have altered people's lives as the digital world keeps developing swiftly. Smartphones have evolved into a very sophisticated form of communication. Users may interact with anybody, anytime, using instant communication tools including SMS, calls, text messaging, video chat, and apps.
With the aid of applications, smartphones are practically infinitely versatile. The Google Play Store has more than 2 million apps, while the Apple App Store has more than 1.5 million. People use their smartphones for enjoyment, including playing games, listening to music, watching movies, as well as reading books. These elements are driving up demand for smartphones, which in turn is driving up demand for smartphone accessories including power banks, earbuds, cases, and covers.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 278.7 Bn | |
| Estimated Value | US$ 469.6 Bn | |
| Growth Rate - CAGR | 6.0% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 140 Pages | |
| Market Segmentation | Type, Category, Price, Distribution Channel | |
| Regions Covered | North America,Europe,Asia Pacific,Middle East & Africa,South America | |
| Companies Covered | Apple Inc.,BBK Electronics,Bose Corporation,BYD Company Ltd,Energizer Holdings, Inc.,KDM,Samsung Electronics Co. Ltd,Sanqi Youpin (Shenzhen) Co., Ltd.,Sony Corporation,Virgin Media | |
Key Findings of the Market Report
- The accessibility of smartphone accessories via online platforms (business websites as well as additional e-commerce channels) is accelerating market growth since they give customers more convenient and varied purchasing possibilities.
- The online channel enables manufacturers to serve a bigger base of end consumers.
- These elements are fueling the growth of the mobile phone accessory industry.
Market Trends for Mobile Phone Accessories
- The growing popularity of smartphones and other mobile devices, as well as the growing trend of remote work and e-learning, have contributed to a rise in demand for power banks and other mobile device peripherals. The post-Covid-19 trend toward remote work and e-learning, which has accelerated this trend and subsequently raised consumer interest in power banks which can keep devices charged while on the go, is one of the emerging prospects in the market for mobile phone accessories.
- Outdoor pursuits like camping, hiking, motorcycling, and extended travel are growing in popularity, and many of people are seeking for power banks that can resist challenging outdoor conditions.
- The rise in disposable income throughout the world has made consumers more eager to spend money on mobile phone accessories like cases, earbuds, and selfie sticks. Younger people see customizable headsets, mobile cases & covers, and other mobile phone accessories as fashion items. These trends are now dominating the mobile phone accessory industry, which is further propelling the growth of the worldwide mobile phone accessory market.
- Customers are eager to preserve their smartphone by utilizing a variety of mobile phone accessories as mobile phones become priceyer. During the anticipated timeframe, this is predicted to boost market potential for mobile phone accessories.
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Global Mobile Phone Accessories Regional Market Outlook
Various reasons are propelling the growth of the mobile phone accessories market in different regions. These are:
- Most of the demand is anticipated to come from Asia Pacific. The most prominent manufacturers of mobile phones and mobile phone accessories are nations like China and Japan.
- The demand for mobile phone accessories including cases, power banks, and earbuds is expected to increase significantly over the next few years, giving North America and Europe a considerable proportion of the global mobile phone accessories industry.
Global Mobile Phone Accessories Market: Key Players
According to a market study of mobile phone accessories, the landscape is fragmented as a result of the large number of domestic and foreign businesses as well as the intense competition among well-known firms.
The following companies are well-known participants in the global mobile phone accessories market:
- Apple Inc.
- BBK Electronics
- Bose Corporation
- BYD Company Ltd
- Energizer Holdings, Inc.
- KDM
- Samsung Electronics Co. Ltd
- Sanqi Youpin (Shenzhen) Co., Ltd.
- Sony Corporation
- Virgin Media
Developments by the key players in the global market for Mobile Phone Accessories are:
| Market Player | Year | Key Developments |
| Samsung Electronics | 2023 |
|
| Bose Corporation | 2022 |
|
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Global Mobile Phone Accessories Market Segmentation
- Type
- Power Bank
- Headset
- Earphones
- Wired
- Wireless
- Mobile Battery
- Screen Protector
- Portable Speaker
- Cases and Covers
- USB Cable & Adapter
- Phone Stand
- Others (Selfie Sticks, Phone Charms & Straps, etc.)
- Category
- Branded
- White Label Brand
- Price
- Low
- Medium
- High
- Distribution Channel
- Online
- E-commerce Websites
- Company-owned Website
- Offline
- Supermarkets/Hypermarkets
- Branded Stores
- Other Retail Stores
- Online
- By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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