Rapid technological advancement of smartphones, powered with AI, sensors, and others, has made it an important part of our personal and professional life. In the current digital era, we are highly dependent on our smartphones for various day to day personal and professional activities. For instance, now a days paying our utility bills, travel & groceries expenses, and others, can easily be tracked and monitored through one click in smartphone. Also, the online delivery people, sales people, and other vendors, use it for tracking the products or locations, and also for meeting purposes.
Moreover, the features such as handsfree and others generate the need of headsets and earphones urge the user to buy these mobile accessories. Furthermore, the fragile frame and display screen of mobile drive users to purchase protective case and screen guards as well. These protective accessories are manufactured in terms of design and quality to attract users. Therefore, the increase in penetration of smartphone increases the mobile accessories market as well.
The growing vertical of media and entertainment has brought advanced photographic and video graphic mobile phone accessories. The imaging accessories used in smartphones such as tripods, stabilizer stands, phone lenses, instant photo printer, and others. Further, penetration in the usage of social media applications such as Facebook, Instagram, and others has raised the number of casual photographers, which is expected to boost the market of photo and imaging mobile accessories. Furthermore, the development in miniaturization of photo and printing accessories such as HP Sprocket photo printer, that provide instant printouts connected over mobile phone and can be accommodated in the pockets of users provide ease of handling and quality. In addition, the infotainment websites and applications used in smartphones such as YouTube offers mementos and money to promote its users who have high-end public ratings. Therefore, the penetration of social media application and its penetration among users is expected to boost the growth of the mobile accessories market during the projected period.
The Asia-Pacific mobile phone accessories market is expected to register the highest CAGR during the forecast period, due to the rapid technological advancements and an increase in the adoption of smartphones by the growing population in the region.
The global mobile phone accessories market is segmented into product type, distribution channel, price range, and region. Based on product type, the market is divided into battery, headphone/earphone, portable speaker, charger, memory card, power bank, battery case, protective case, screen guards, popsockets, and others (USB cable and selfie stick). Based on distribution channel, it is bifurcated into online and offline. By price range, it is classified into premium, mid, and low. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and Latin America and Middle East (LAMEA).
The key players operating in the global mobile phone accessories market are Panasonic Corporation, Sennheiser Electronic GmbH & Co. KG, Sony Corporation, Samsung Electronics Co., Ltd., Apple Inc., Bose Corporation, BYD Co Ltd., Plantronics, Inc., Energizer Holdings, Inc., and JVC Kenwood Corporation.
The report presents analysis on the key strategies adopted by these players and the detailed analyses of the current trends, upcoming opportunities, and restraints of the mobile phones accessories market.
KEY MARKET SEGMENTS
By Product type
- Battery
- Headphone/Earphone
- Portable Speaker
- Charger
- Memory Card
- Power Bank
- Battery Case
- Protective Case
- Screen Guards
- Popsockets
- Others
By Distribution Channel
- Online
- Offline
By Price Range
- Premium
- Mid
- Low
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Table of Contents
Executive Summary
According to the report titled, 'Mobile Phone Accessories Market by Product Type, Distribution Channel, and Price Range: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the global mobile phone accessories market size was valued at $224.69billion in 2018, and is projected to reach at $284.06billion by 2026, growing at a CAGR of 3.1% from 2019 to 2026.Mobile phone plays an important role in modern day to day life. People add value to their mobile phones through different mobile accessories that enhance the functionality of the equipment as well as protect the phone from damage. Rise in demand for wireless accessories drives the mobile phone accessories market growth. Various features with the advancement of technology such as AI and IoT makes way for hyper connectivity and intelligence in the electronic devices. This has promoted the use of wireless mobile accessories such as smart wearable, smart speakers, and wireless headsets & earphones, among others.
On the go devices are the mobile accessories that can be connected to the smart phones through cords or through wireless technologies. These devices allow users to access information on their smart phones through these devices. For instance, smart watches connected to the smartphones provide access to messages, calls, and other functionalities of smartphones just from the wrist of the user on which it is tied upon. Thus, the convenience provided by OTGs is expected to widen the future market of mobile accessories. Furthermore, improvement in build technology in terms quality, miniaturization of dimension, and appealing designs is expected to influence the OTG devices market during the projected time period.
Online platforms are convenient, and therefore have become a popular medium for purchasing mobile accessories among consumers. Companies are using online distribution channel to make products and accessories available globally with the emerging trends in the e-commerce industry. This factor encourages many new market entrants to launch their own e-commerce sites where consumers can purchase the required products, thus boosting the demand for online distribution channel in the mobile phone accessories market.
In 2018, headphone segment dominated the mobile phone accessories market, in terms of revenue, due to the increase in usage of portability, comfort level for its use, ability to connect to the smartphones over Bluetooth, Wi-Fi, radio frequency, and compatibility with other electronic devices have increased the adoption of this segment in the market. The demand for these devices has increased over the past few years due to its easy accessibility and compatibility with other audio systems over Bluetooth or Wi-Fi connectivity. The advancement of headphone devices has provided user next level h ands free experience. Apple, Inc. and Bose Corporation are some of the major players in this segment and popular br ands marketed by them are Bose SoundSport, JBL, Soundcraft, and Studer. Asia-Pacific was the highest revenue contributor to the global mobile phone accessories industry in 2018, due to the rapid technological advancements and an increase in the adoption of smartphones.
According to Ankit Prajapati, Research Analyst, Semiconductor & Electronics, “The features of mobile accessories, such as creative approach, user engagement, and procurement of large prospective customers drive its demand in the global market. The different customized products by the vendors increase their usability across various end users such as personal, commercial, or industrial, which is further anticipated to contribute to the market growth.”
The report features a competitive scenario of the global mobile phone accessories market and provides a comprehensive analysis of the key growth strategies adopted by major players. The key players profiled in the report are Panasonic Corporation, Sennheiser Electronic GmbH & Co. KG, Sony Corporation, Samsung Electronics Co., Ltd., Apple Inc., Bose Corporation, BYD Co Ltd., Plantronics, Inc., Energizer Holdings, Inc., and JVC Kenwood Corporation. Key players spend heavily on developing innovative accessories to gain mobile phone accessories market share.
KEY FINDINGS OF THE STUDY
- The headphone segment accounted for the highest share in 2018 growing at a significant rate from 2019 to 2026.
- The offline segment generated the highest revenue in 2018.
- Asia-Pacific is expected to dominate the mobile phone accessories market during the forecast period.
Companies Mentioned
- Panasonic Corporation
- Sennheiser Electronic GmbH & Co. KG
- Sony Corporation
- Samsung Electronics Co. Ltd.
- Apple Inc.
- Bose Corporation
- BYD Co Ltd.
- Plantronics Inc.
- Energizer Holdings Inc.
- JVC Kenwood Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 369 |
Published | March 2020 |
Forecast Period | 2018 - 2026 |
Estimated Market Value ( USD | $ 224.69 billion |
Forecasted Market Value ( USD | $ 284.06 billion |
Compound Annual Growth Rate | 3.0% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |