Based on a report added to Radiant Insights, Inc.; the global mobile phone accessories market is estimated to show case significant growth by 2022.Increasing penetration of smartphones and demand for wireless accessories can drive the market over the forecast period (2018 to 2022). In addition, consumer preferences for portable devices like music players, tablets, and smartphones to listen to music, watching videos, and playing games can have positive impact on the market.
Increasing popularity of smart devices over desktops is considered as one of the key factors driving the growth of the mobile phone accessories market. Smart devices comprise a wide range of applications boosting the production of varied range of accessories based on customer requirements. High demand for protective cases for delicate and lightweight smart phones has increased the requirement of screen guard and tampered glasses. This may further boost the market expansion over the forecast period.
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In addition, consumers are increasingly accessing internet through smartphones, which has increased the opportunities for manufacturers to develop accessories that can enhance the lifespan of mobile devices. Rising number of brands inclined towards producing trendy mobile accessories can also boost the market for mobile phone accessories in the forthcoming years. However, availability of pirated and second copy versions of accessories in developing countries may hinder the market growth to an extent.
Nevertheless, rising use of wireless devices such as Bluetooth headsets, portable mobile speakers, and wireless charges is likely to drive market over the forecast period. Growing influence of social media and e-commerce applications for online shopping is likely to increase sale of newly developed accessories in the years to come. For instance, Sony has recently introduced Wireless Noise Cancelling sports headphones called First up. These wireless WF-SP700N headphones ARE based on digital noise cancelling technology.
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The worldwide mobile phone accessories market can be segmented arehe basis of product, application, and regions. Based on product, the market can be classified into batteries, chargers, headsets, adapters, and other. As per application, the market can be fragmented into original equipment manufacturers (OEMs), and aftermarket. Geographically, the market can be divided into North America, China, Europe, Southeast Asia, Japan, and India.
North America is one of the largest markets for mobile phone accessories followed by Europe. However, Southeast Asia and developing countries such as India and China are likely to showcase rapid growth during the projected period. This progress can be accredited to increasing disposable income, rising sales of smartphones, and high awareness regarding availability of the latest products. Additionally, growing migration from rural to urban areas, especially in countries like India and China will further fuel regional expansion. Urban population has strong demand for mobile accessories like power banks, premium headphones, and batteries. This may bode well for the growth of this market on global scale.
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Key players operating in the mobile phone accessories market include Samsung Electronics, BYD Electronic, Sony Corporation, Panasonic Corporation, and OnePlus. The market is extremely competitive due to existence of well-established companies and regional vendors. The participants may compete each other on product variation and pricing. Most companies are making hefty investments for the development of innovative products. Majorestablished players are also acquiring new participants.
For instance, iVOOMi, a Chinese electronics brand recently introduced a new range of power banks in India. This new range includes two series Pebble and Juice. The Juice Power bank series composed of 13,000mAh capacity and lithium battery with dual USB output for multiple charging devices. The Pebble series is available in 10,000mAh capacity and 20,000mAh capacity along with dual USB output to support multiple devices.
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Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy. Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.
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