Shelly December 18, 2020

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Mobile Accessories market.

Trusted Business Insights presents an updated and comprehensive analysis of Mobile Accessories Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Mobile Accessories market during the forecast period (2021-2026).Our research analyst have analysed at the short-term stress in the industries subsectors as well as long-term impacts. Analyst have also examined the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

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Abstract, Snapshot, Market Analysis & Market Definition: Global Mobile Accessories Market

The global Mobile Accessories market size is projected to reach US$ 118.41 billion by 2026, from US$ 78.46 billion in 2020, at a CAGR of 7.1% during 2021-2026. Increasing demand for smartphones as they are the effective means of communication around the globe is expected to drive the market in the forecast period.
Furthermore, increasing demand for wireless devices, coupled with frequent change in the technologies, is driving the market in the near future. For instance, companies are coming up with latest technologies such as wireless headsets and speakers. This has boosted the market demand for the industry in the recent times. Furthermore, increasing adoption of smartphones among teenagers has increased the demand for certain accessories such as mobile covers and headphones as they keep themselves updated with the changing technologies in the market.

Growing young working population has also fueled the market growth to a great extent in the recent times. Changing outlook of the consumer group has also influenced the market growth. The women consumer group prefers to change their phone covers frequently, which in turn, impacts the overall market growth. On the other hand, the men consumer group prefers to change other accessories such as headphones and fast-chargers.

The fact that the products make the usage of mobile phone simpler and smooth, thereby making it popular among the consumers. For instance, introduction of smartwatches has made it simpler to see the notification and calls without taking out the phone from the pocket. Innovation of power bank has made it simpler for the consumers who use smartphones extensively and has to travel frequently.

Increasing quality and features of the smartphones with decreasing prices has led to an increase in the number of consumers for the product, which eventually increases the demand for safety and security of the phones. The consumer in the modern times dont bother to go an extra mile to keep their phone safe, trendy, and vogue. Increasing internet penetration, coupled with artificial intelligence incorporated by the online retailers that gives pop-up notification to the users about the product, is also a prominent factor for the market growth.

Market Segmentation, Outlook & Viewpoint: Global Mobile Accessories Market

Product Type Market Segmentation & Outlook (Revenue, USD Billion, 2014 – 2025)

  • Earphones/Headphone
  • Charger
  • Power Bank
  • Protective Cases
  • Others

Distribution Channel Market Segmentation & Outlook (Revenue, USD Billion, 2014 – 2025)

  • Online
  • Offline

Key Players, Recent Developments & Regional Insights: Global Mobile Accessories Market

The offline segment dominated the mobile accessories market and accounted for 69.9% share of the overall revenue. Increasing demand for the costly devices such as smartwatch and mobile camera lens and perception of issues with the delivery of fragile items are propelling the segment growth. Traditional method of shopping and difference in price in local retail outlets and other wholesale markets are the reasons for the segment growth.

The online segment is anticipated to expand at a CAGR of 7.9% over the forecast period. Increasing internet penetration in rural areas, faster and trusted delivery by various online portals, and replacement options are driving the segment. Moreover, the young working consumer groups with hectic schedule prefer to buy online rather than offline due to easy access and doorstep service. These are the prominent factors boosting the market growth in the stipulated time frame.

Product Type Insight

On the basis of product type, the market is segmented into earphones and headphones, charger, power bank, and protective cases. The protective cases segment accounted for a leading share of 31.3% in 2018 and is expected to witness significant growth in the near future. Increasing demand for cases due to frequent change in the product in the female consumer group is anticipated to drive the market. Furthermore, innovation in the material type compatibility of the cases with certain smartphones, such as apple, prefer special kind of cases to highlight the logo at its back is propelling the market growth in the forecast period.

The headphone segment is expected to register a CAGR of 7.6% during the forecast period. One of the most developing trends in the mobile industry at present is growing sophistication of headphones, which is also fueling the market growth for unconditional connectors such as type-c USB Ports cables. Growing fitness consciousness among the young population has driven the demand for sports and fitness headphones in the recent times. Popularity of cheap headphones has increased among the economical consumer group due to rise in travelling trends standalone.

Regional Insights

In 2018, Asia Pacific led the market with a share of 45.0% and is anticipated to witness significant growth in the near future. In Asia Pacific, China contributed to the majority of share and accounted for 55.0% share of the overall revenue in 2018. High usage of different types of mobile accessories, innovation of different products at lower rates, and China being the leader of the mobile phone industry are the prominent factors for market growth in the region.
Middle East and Africa is the fastest growing region due to high demand from the developing countries such as UAE and Saudi Arabia. Changing lifestyle and increasing disposable income are expected to drive the market in the forecast period. Moreover, increasing demand for smartphones in the region is driving the market for the accessories. For instance, one of the surveys has shown that the market for smartphones in MEA has increased by 4 million in number of units in 2018.

Mobile Accessories Market Share Insights

Google; Samsung; Apple; Harman International Inc.; Belkin International Co.; Aukey; Groovemade Walnut; Anket Powercore; and UE Boom are some of the major players in the industry. The market presents moderate to low entry barriers due to presence of a large number of unstructured dealers in the market. The market is further driven by innovation in technology, mergers and acquisitions, and joint ventures.

For instance, one plus brand comes with fast chargers compatible with their phones. Afterward, the manufacturer of such devices has come up with chargers that are compatible with all the devices and charge the device fast. The companies also spend a huge chunk of their revenue on research and development as the industry witness frequent changes in the technologies. In order to gain a competitive edge, the market players need to understand the need of the product among the consumers.

Key Insights Covered: Global Mobile Accessories Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Mobile Accessories industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Mobile Accessories industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Mobile Accessories industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Mobile Accessories industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Mobile Accessories industry.

Research Methodology: Global Mobile Accessories Market

  • Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  • Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  • Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other

Looking for more? Check out our repository for all available reports on Mobile Accessories in related sectors.

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Shelly Arnold
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