Captive Market Opportunity Offered by the Expanding Base of Smartphone Users to Spur Growth in the Mobile Phone Accessories Market

The global market for Mobile Phone Accessories is projected to reach US$70.4 billion by 2022, driven by massive expansion in mobile phone ownership and higher emphasis on improving the usability and functionality of mobile devices.

A mobile phone accessory is defined as a supplementary item used in adjunct to a mobile that contributes either to the function or the performance of a phone or to its aesthetic appeal. World market for mobile phone accessories continues to post steady growth driven by increasing sales of smartphones and tablets. Factors supporting growth include increasing affordability of smartphones due to decline in prices, innovation and launch of a wide range of accessories designed to enhance the functional aspects of the smartphone, and growing willingness among consumers to spend on accessories that improve functionality and usability of the device.  Prevailing trends in the mobile communication domain including exponential rise in 4G LTE networks, consumer appetite for mobile data, wider uptake of social networking on the move, proliferation of wireless gaming, and growing enterprise mobility & the BYOD culture are immensely contributing to wider uptake of accessories.

Effervescent innovations in the market are triggered by intense competition caused by commoditization and the need to innovate more intelligent and smart accessories for smartphones. Demand is particularly strong for protective cases, which safeguard the device from fall and exposure to external environment. Launch of expensive phones such as iPhone X, Samsung Galaxy, and Google Pixel is especially steering momentum in the protective cases vertical. Demand also remains high for power banks due to limited battery capacity to endure high usage such as social networking, web browsing, gaming, and multimedia. Growing consumer demand for wireless audio accessories is further driving the popularity of wireless mobile accessories such as Bluetooth handsets. Trend towards personalization of mobile devices is additionally poised to benefit market opportunities. In addition, growth in online retailing led by availability of price discounts and convenient payment options continue to drive sales of mobile phone accessories.

As stated by the new market research report on Mobile Phone Accessories, Asia-Pacific represents the largest market worldwide. The region also ranks as the fastest growing market with a CAGR of 6.1% over the analysis period, led by factors such as thriving economies, rising income levels, continuous development of mobile communications, growth in 4G penetration, strong adoption of next-generation mobile phones, and growing popularity of business-related tablet and smartphone accessories in countries such as China and India.  

Major players covered in the report include Apple Inc., Bose Corporation, Energizer Holdings Inc., Griffin Technology, iLuv Creative Technology, Incipio LLC, Koninklijke Philips N.V., LG Electronics Inc., Microsoft Corporation, Motorola Mobility Inc., Otterbox, Pelican Products Inc., Plantronics Inc., Samsung Electronics Co. Ltd., SanDisk Corporation, Sennheiser Electronics GmbH & Co. KG, and Sony Corporation, among others.

The research report titled “Mobile Phone Accessories - Market Analysis, Trends, and Forecasts” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections in US$ Million for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea and Rest of Asia-Pacific), Latin America (Brazil, Mexico and Rest of Latin America) and Rest of World. Product segments analyzed in the Global and the US markets include Chargers, Device Protection, Headsets, Power Banks, and Others (Batteries and Memory Cards among Others).

Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.

For enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
For cutting edge analyst reviews on top industries, follow us on Twitter and connect with us on LinkedIn

Comments

Post a Comment

Popular posts from this blog

The Global Market for Surfing is Projected to Reach US$9.5 Billion by 2022

Rise of Surfing as a Lifestyle Sport Among all Age Groups Drives the Global Surfing Market, According to a New Report by Global Industry Analysts, Inc. GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Surfing market. The global market for Surfing is projected to reach US$9.5 billion by 2022 , driven by the growing interest in surfing both as a leisure and sporting activity, increased accessibility to surfing through surf parks and surf pools and technology innovations focused on developing sophisticated surf-wear and surf-gear.                               Surfing is a surface water sport where a participant riding a board (the surfboard) is carried away by a breaking wave. The surfing industry continues to evolve, driven by sustained efforts of s...
Read more

The Global Market for Private Tutoring Services is Forecast to Reach US$227 Billion by 2022

Intense Competition among Students and the Growing Need to Achieve Academic Excellence Drive the Global Private Tutoring Market, According to a New Report by Global Industry Analysts, Inc. GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Private Tutoring market. The global market for Private Tutoring Services is forecast to reach US$227 billion by 2022 , driven by the need to keep pace with classroom teaching, improve overall competency and enhance knowledge and skill level. Education is considered the social ladder to achieve success in personal and professional life. Higher education is associated with increased opportunities in the labor market, high remunerations, and improved social standing. People are therefore investing heavily in children’s education, including private tutoring or private supplementary tutoring which is emerging as a major phenomenon in the global education system...
Read more
Image
The global market for Material Handling Equipment is projected to reach US$190.3 billion by 2025, driven by the strong emphasis shed on production and operational efficiency and worker safety. The concept of “last mile” is widely popularized in supply chain management and transportation planning for its ability to increase customer satisfaction and profitability. Automation, optimization and delivery route planning are therefore vital strategies adopted by companies to improve their last mile performance. Of equal importance are the “first mile” operations involving indoor material handling on the plant floor. Raw material being the primary and most importance element in manufacturing needs to move through multiple stages of production and final packaging in a smooth and seamless manner to prevent logistical bottlenecks in production. Timely handling of materials is important to ensure that right materials in right quantities are delivered to the right locations at the right ti...
Read more