Mobile accessories market to be $157.3 billion by 2030: says The Brainy Insights

Braine Insights Pvt. Ltd.

Technical inventions and the demand for proper mobile phone care have driven the development of the global market for mobile phone accessories.

Newark, August 1, 2022 (GLOBE NEWSWIRE) – According to the report published by The Brainy Insights, the global market for mobile accessories is expected to grow from $84.1 billion in 2021 to $157.3 billion by 2030, at a compound annual growth rate of 7.20 % during the forecast period 2022-2030.

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The growing number of young workers has also pushed market development to the next level in today’s times. Shifting customer perspective has also affected market growth. Women consumer group often choose to switch phone cases, which affects the overall development of the market. In addition, the male customer group likes to change out additional accessories such as fast chargers and headphones. The point is that the products make the use of mobile phones more easy and smooth, which makes them popular. For example, the launch of smart watches made it easier to see notifications and calls without checking the mobile phone. The invention of power banks has made it simpler for customers who use smartphones and travel a lot.

competitive strategy

To consolidate their market position in the global mobile accessories market, the major players are now focusing on adopting strategies such as product innovations, mergers and acquisitions, recent developments, joint ventures, collaborations and partnerships.

• Beats (Apple) introduced Bluetooth headphones with collar, provide noise cancellation, and can run for eight hours on a single charge.

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Market growth and trends

The growing need for wireless accessories is driving the development of the mobile phone accessories market. The high demand is due to a shift in consumers’ choices for listening to music on mobile devices, such as tablets and smartphones. Music can be easily obtained via music streaming platforms, including SoundCloud and YouTube. The need for mobile phone accessories has grown due to the expansion of per capita income and the popularity of social networking sites in urban areas. The sudden rise in internet penetration is also expanding the online retail platform further. Regardless, excessive use of headphones affects a consumer’s hearing ability, limiting market growth. Rapid technological developments, including the implementation of noise cancellation technology, a built-in fan, lighting in a selfie stick, and Bluetooth/NFC speakers, are expected to suggest profitable development prospects. However, taxes on imports and exports among the major industrial countries are leading to major shifts in the global technology landscape. The unpredictability of the market in the future limits financing for companies and reduces the speed of development. Similarly, the mobile phone accessories market is succeeding due to the high adoption of mobile phones across the globe.

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According to the survey, the absolute number of smartphone shipments in the third quarter of 2019 was about 352.4 million units. The increasing penetration of Artificial Intelligence and Internet of Things technologies, as well as innovative technological advances in voice recognition systems, clip-on headphones, wireless voice products, and the tight integration of speech recognition software, are driving the growth of the global market.

• In 2021, the premium segment captured the largest share of the market with 34% and market revenues of 28.5 billion.

The price range segment was divided into medium, low and premium in 2021; The premium segment captured the largest market share, with 34% and market revenue of $28.5 billion. Changing lifestyles and increasing purchasing power of customers have created a preference for premium products. Globalization and financial growth, especially in developing countries, also suggest profitable opportunities for different companies to take advantage of and enhance their market position.

• In 2021, the preventive cases segment captured the largest share of the market with 12% and market revenues of 10.09 billion.

The product type section is divided into sockets, headphone/earphone, portable speaker, battery, protective case, power bank, charger, memory card, battery case, screen protectors, and others. In 2021, the preventive cases segment captured the largest share of the market with 12% and market revenue of 10.09 billion. Mobile phones are sensitive to work and subject to physical damage; The need for protective accessories such as boxed eyeglasses, screen protectors, and protective cases increases clip growth.

• In 2021, the offline segment captured the largest share of the market with 62% and market revenue of 52.1 billion.

The distribution channel segment is divided into online and offline. In 2021, the offline segment captured the largest market share, with 62% and market revenue of 52.1 billion. Segment growth is the traditional way of shopping and price disparity in local retail outlets and other wholesale markets.

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Regional Segment Analysis of the Mobile Phone Accessories Market

• North America (USA, Canada and Mexico)
• Europe (Germany, France, UK, Italy, Spain and rest of Europe)
• Asia Pacific (China, Japan, India and Rest of Asia Pacific)
• South America (Brazil and the rest of South America)
• Middle East and Africa (UAE, South Africa, rest of the Middle East and Africa)

Among all the regions, North America has emerged as the largest market for the global mobile phone accessories market, with a market share of about 34.5% and 29.0 billion market revenue in 2021. Due to factors such as increased adoption of wireless accessories, presence of the latest technologies, and increased preference towards digitalization. The Asia Pacific region has projected a rapid growth of the global mobile phone accessories market due to high income and advances in product technologies, which are supporting the growth of the market.

The major players operating in the global mobile phone accessories market are:

• Apple India Pvt. Ltd.
• Belkin India Pvt. Ltd.
• Callmate (India) Pvt. Ltd.
• Case Mate India Pvt. Ltd.
• Eon Electric Ltd.
• Intex Technologies (India) Ltd.
• Moftware Infotech Pvt. Ltd.
• Optiemus Infracom Ltd.
• PNY Technologies Asia Pacific Ltd.
• Samsung India Electronics Pvt. Ltd.

This study forecasts revenue at global, regional and country levels from 2019 to 2030. Brainy Insights has segmented the global mobile accessories market into segments on the basis of the segments listed below:

Global Mobile Phone Accessories Market By Price Range:

• middle
• a little
• excellent

Global Mobile Phone Accessories Market By Product Type:

• Popsups
• Earphone / earphone
• Portable Speaker
• battery
• Protective case
• Charging tool
• freighter
• memory stick
• Battery Cover
• Screen Protectors
• Aharon

Global Mobile Phone Accessories Market by Distribution Channel:

• Connected
• Offline online

About the report:

The global mobile phone accessories market is analyzed on the basis of value (US$ billion). All sectors were analyzed on a global, regional and country basis. The study includes an analysis of more than 30 countries for each part. The report provides an in-depth analysis of the driving factors, opportunities, restraints, and challenges to gain insight into the market. The study includes Porter’s Five Forces Model, gravity analysis, raw material analysis, supply, demand analysis, competitor site network analysis, distribution, and marketing channel analysis.

About The Brainy Insights:

Brainy Insights is a marketing research firm, aiming to provide actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet clients’ goals of achieving high quality output within a short period of time. We provide customized (customer specific) and syndicate reports. Our associative reporting repository varies across all categories and subcategories across domains. Our customized solutions are designed to meet the requirements of clients whether they are looking to expand or planning to launch a new product in the global market.

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