Mobile phone accessories include software or hardware components that are not vital to the operation of a cellular telephone. Nowadays, phones have multiple functions including accessing internet, taking pictures, listening to music, storage devices, and others. People even beautify and add value to their mobile phones with the help of various mobile accessories. These include protective cases, headphones, USB cables, power banks, chargers, portable speakers, memory cards, and selfie stick. These accessories enhance the functionality of the equipment and also provide protection.
The major factor affecting the market is the increase in adoption of smartphones, owing to features such as providing effective connectivity to the digital world. In addition, Bluetooth wireless headphones offer numerous advantages over wired devices such as portability, convenience, cost-effectiveness, efficiency, and flexibility. These factors cumulatively drive the market growth and have generated a revenue of $61,370 million in 2014. The market is expected to reach $107,629 million by 2022 with a promising CAGR of 7.6% during the forecast period.
The mobile phone accessories market is driven by the rise in demand for wireless accessories owing to changing customer preferences to listen to music on portable devices, such as smartphones and tablets, through music streaming platforms like YouTube and sound cloud. The demand for mobile accessories has increased due to upsurge in disposable income and rise in popularity of social networking sites in urban areas. In addition, increasing Internet penetration has boosted the online retailing platform. However, excessive use of headphones affects the hearing ability of users, thus restricting the market growth. Rapid technological advancement including implementation of noise canceling technology, Bluetooth/NFC speakers, and built-in fan and light in selfie sticks are expected to offer lucrative opportunities for growth.
The market is segmented on the basis of product type, distribution channel, price range, and geography. On the basis of product type, it is categorized into battery, headphones, portable speakers, charger, memory card, power bank, and others (USB cable & selfie stick). Protective case accounted for maximum revenue share in 2014 and is anticipated to consolidate its dominant position during the forecast period, owing to its benefits such as protection from wear & tear, scratches, and other damage.
Distribution channel wise, it is bifurcated into offline (multi-brand and single-brand store) and online segment. The online retail store is expected to grow with a highest growth rate due to increase in Internet penetration and popularity of social networking websites. By price range, it is segmented into premium price, mid-price, and low price.
The market is analyzed on the basis of four regions, namely, North America, Europe, Asia-Pacific, and LAMEA, along with their prominent respective countries. Asia-Pacific dominated the market in 2014 and is projected to continue to consolidate its position, owing to rise in disposable income, large population, and rapid growth of smartphone adoption.
Key players operating in the world mobile accessories market are Panasonic Corporation, Senheiser Electronic GmbH & Co. KG, Sony Corporation, Samsung Electronics Co., Ltd., Apple Inc., Bose Corporation, BYD company Limited, Plantronics, Inc., Energizer Holdings, Inc., and JVC Kenwood Corporation.
The report includes an in-depth analysis of the world mobile accessories market, including current trends, drivers, restraints, and growth opportunities.
Porter’s Five Forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
Value chain analysis provides a clear understanding of the roles of different stakeholders involved. Key market players are profiled to gain an understanding of the strategies adopted by them.
This report provides a detailed analysis of the current trends and future estimations from 2016 to 2022, which facilitate in identifying the prevailing market opportunities.
By Product Type
Others (USB Cable & Selfie Stick)
By Distribution Channel
By Price Range
Rest of Europe
Rest of Asia-Pacific
1.1 Report description
1.2 Key benefits
1.3 Key market segments
1.4 Research methodology
1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models
CHAPTER 2 EXECUTIVE SUMMARY
2.1 CXO perspective
CHAPTER 3 MARKET OVERVIEW
3.1 Market definition and scope
3.2 Key findings
3.2.1 Top impacting factors
3.2.2 Top investment pockets
3.2.3 Top winning strategies
3.3 Porters five forces analysis
3.3.1 Availability of large number of suppliers and different price range products leads to high bargaining power of buyer
3.3.2 Easy availability of raw materials lowers the supplier power
3.3.3 Large number of manufacturers, intense competition and favourable environment moderates the threat of new entrants
3.3.4 Lack of availability of substitute lowers the threat of substitution
3.3.5 Presence of renowned players lead to high rivalry among competitors
3.4 Value chain analysis
3.5 Market share analysis, 2015
3.6 Market dynamics
18.104.22.168 Rising demand for wireless accessories
22.214.171.124 Rising smartphone adoption
126.96.36.199 Increasing disposable income
188.8.131.52 Strong distribution network
184.108.40.206 Adverse effect on hearing ability
220.127.116.11 Rapid technological advancement
18.104.22.168 Increasing need for convenience
CHAPTER 4 WORLD MOBILE PHONE ACCESSORIES MARKET BY PRODUCT TYPE
4.2.1 Key trends
4.2.2 Key drivers and opportunities
4.2.3 Market size and forecast
4.3.1 Key trends
4.3.2 Key drivers and opportunities
4.3.3 Market size and forecast
4.4 Portable speaker
4.4.1 Key trends
4.4.2 Key drivers and opportunities
4.4.3 Market size and forecast
4.5.1 Key trends
4.5.2 Key drivers and opportunities
4.5.3 Market size and forecast
4.6 Memory card
4.6.1 Key trends
4.6.2 Key driver and opportunities
4.6.3 Market size and forecast
4.7 Protective case
4.7.1 Key trends
4.7.2 Key drivers and opportunities
4.7.3 Market size and forecast
4.8 Power bank
4.8.1 Key trends
4.8.2 Key drivers and opportunities
4.8.3 Market size and forecast
4.9.1 Key Trends
4.9.2 Key drivers and opportunities
4.9.3 Market size and forecast
CHAPTER 5 WORLD MOBILE PHONE ACCESSORIES MARKET BY DISTRIBUTION CHANNEL
5.2.1 Key trends
5.2.2 Key drivers and opportunities
5.2.3 Market size and forecast
5.3.1 Market size and forecast
5.3.2 Single-brand store
22.214.171.124 Key trends
126.96.36.199 Key drivers and opportunities
188.8.131.52 Market size and forecast
5.3.3 Multi-brand store
184.108.40.206 Key trends
220.127.116.11 Key drivers and opportunities
18.104.22.168 Market size and forecast
CHAPTER 6 WORLD MOBILE PHONE ACCESSORIES MARKET BY PRICE RANGE
6.2.1 Key trends
6.2.2 Key drivers and opportunities
6.2.3 Market size and forecast
6.3.1 Key trends
6.3.2 Key drivers and opportunities
6.3.3 Market size and forecast
6.4.1 Key trends
6.4.2 Key drivers and opportunities
6.4.3 Market size and forecast
CHAPTER 7 WORLD MOBILE PHONE ACCESSORIES MARKET BY GEOGRAPHY
7.2 North America
7.2.1 Key trends
7.2.2 Key drivers and opportunities
7.2.3 Market size and forecast
7.3.1 Key trends
7.3.2 Key drivers and opportunities
7.3.3 Market size and forecast
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
7.4.1 Key trends
7.4.2 Key drivers and opportunities
7.4.3 Market size and forecast
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
7.5.1 Key trends
7.5.2 Key drivers and opportunities
7.5.3 Market size and forecast
220.127.116.11 Latin America
CHAPTER 8 COMPANY PROFILES
8.1 Panasonic Corporation
8.1.1 Company overview
8.1.2 Company snapshot
8.1.3 Operating business segments
8.1.4 Business performance
8.1.5 Strategic moves and developments
8.2 Sennheiser Electronic GMBH & Co. KG
8.2.1 Company overview
8.2.2 Company snapshot
8.2.3 Operating business segments
8.2.4 Business performance
8.2.5 Strategic moves and developments
8.3 Sony Corporation
8.3.1 Company overview
8.3.2 Company snapshot
8.3.3 Operating business segments
8.3.4 Business performance
8.3.5 Strategic moves and developments
8.4 Samsung Electronics Co., Ltd.
8.4.1 Company overview
8.4.2 Company snapshot
8.4.3 Operating business segments
8.4.4 Business performance
8.4.5 Strategic moves and developments
8.5 Apple Inc.
8.5.1 Company overview
8.5.2 Company snapshot
8.5.3 Operating business segments
8.5.4 Business performance
8.5.5 Strategic moves and developments
8.6 Bose Corporation
8.6.1 Company overview
8.6.2 Company snapshot
8.6.3 Operating business segments
8.6.4 Strategic moves and developments
8.7 BYD COMPANY LIMITED
8.7.1 Company overview
8.7.2 Company snapshot
8.7.3 Operating business segments
8.7.4 Business performance
8.8 Plantronics, Inc.
8.8.1 Company overview
8.8.2 Company snapshot
8.8.3 Operating business segments
8.8.4 Business performance
8.8.5 Strategic moves and developments
8.9 Energizer Holdings, Inc.
8.9.1 Company overview
8.9.2 Company snapshot
8.9.3 Operating business segments
8.9.4 Business performance
8.9.5 Strategic Moves and Developments
8.10 JVC Kenwood Corporation
8.10.1 Company overview
8.10.2 Company snapshot
8.10.3 Operating business segments
8.10.4 Business performance
Factors that drive the market growth are rise in demand for wireless accessories, growth in smartphone adoption, increase in disposable income in developing countries such as China, India, and Brazil, and strong distribution network in China, Indonesia, Brazil, and Russia. In addition, market growth is expected to be boosted by the rise in sales of smartphones and increase in Internet penetration, popularity of social networking websites, and customers increasing need for convenience, which can be delivered with mobile accessories such as power banks, headphones and others. Budget friendly, safety, and introduction of noise canceling technology strengthen the technological advancements in this market. However, excessive use of headphones affecting the hearing ability of users is a major limitation that restricts the market growth.
Offline segment accounted for about 75% of the overall mobile accessories market in 2014, as majority of the people prefer to shop mobile accessories from local stores rather than online stores. In addition, online sale is expected to be the fastest growing segment and is projected to register a CAGR 10.2% during the forecast period. This is due to the growth in trend of mobile shopping, cash on delivery, variety of options, and quick & safe refunds.
Headphone segment is projected to maintain its lead due to its easy accessibility and compatibility with other audio systems via Bluetooth or Wi-Fi connectivity. The power bank segment is anticipated to exhibit the highest growth rate, with a CAGR of 9.2% due to rapid economic development, increased consumer purchasing power and better living standards, and increase in processor speed, safety usage, and growing digital content. In addition, rise in competition among regional and global players is expected to decrease the average selling price of power banks in the future; this would lead to increase in adoption of power banks.
Protective case generated highest revenue in 2014, accounting for around 21% and this growth is expected to increase during the forecast period. This growth is attributed to companies continuously focusing on designing lightweight protective cases to provide convenience to the customers for holding their smartphones.
Asia-Pacific accounted for the majority of the revenue, and is expected to maintain its dominance, owing to the increased production of mobile phones in countries such as China, India, Japan, Singapore, and Australia. Moreover, rise in disposable income, proliferation of e-commerce websites, digitization of infrastructure with increased spending capacity of consumers, availability of low-cost products, and changing lifestyle pattern offer lucrative opportunities that fuel the market growth in this region. Developing countries such as India and China have strong economic growth rate, which is fueled by industrial and commercial development. The electronic consumer market is in its growing stage due to the presence of top industry players from Japan and China, which focus on low-cost wireless products to capture market share. Companies manufacture their products in Indian and Chinese markets due to low operational costs and raw material prices, and availability of human workforce.
Key Findings of Mobile Phone Accessories Market Study:
In the year 2014, offline segment led the market revenue, and is projected to grow at a CAGR of 6.6 % during the forecast period.
Online segment is expected to grow at a significant CAGR of 10.2%, owing to rise in trend of mobile shopping.
Mid-price range segment is projected to grow at a CAGR of 8.5%.
The power bank segment is estimated to grow at the highest CAGR during the forecast period.
China is the major shareholder, accounting for about 27% share of the global mobile accessories market.
Key players focus on expanding their business operations in the emerging countries, with new product launches as a preferred strategy. The major players profiled in this report include Panasonic Corporation, Senheiser Electronic GmbH & Co. KG, Sony Corporation, Samsung Electronics Co. Ltd., Apple Inc., Bose Corporation, BYD company Limited, Plantronics, Inc., Energizer Holdings, Inc., and JVC Kenwood Corporation.
Senheiser Electronic GmbH & Co. KG
Samsung Electronics Co. Ltd.
BYD company Limited
Energizer Holdings, Inc.
JVC Kenwood Corporation