New York, US, June 30, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Mobile Accessories Market information by Price Range, by Product, by Distribution Channel and Region – forecast to 2027”the market size is expected to grow from USD 3,625.79 million in 2017 to USD 6,780.86 million by 2025, at a CAGR of 8.09%,
Mobile Accessories Market Scope:
Mobile phone accessories are any hardware which is not included in a mobile phone’s operation by the manufacturer. Such accessories comprise mobile chargers, screen protectors, power banks, Bluetooth headsets, data cables, headphones, USB cables, protective cases, and others.
Dominant Key Players on Mobile Accessories Market Covered Are:
- TCL Communication (China)
- ASUSTeK Computer Inc. (Taiwan)
- Lenovo Group Limited (China)
- HTC Corporation (Taiwan)
- Huawei Technologies Co. Ltd. (China)
- Sennheiser Electronics GmbH & Co. KG (Germany)
- Otter Products LLC (US)
- Griffin Technology (US)
- Bose Corporation (US)
- Plantronics Inc. (US)
- JVC Kenwood Corp. (Japan)
- Apple Inc. (US)
- Panasonic Corporation (Japan)
- Sony Corporation (Japan)
- Samsung Electronics Co. Ltd. (South Korea)
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Market USP exclusively encompassed:
Market Drivers
According to the MRFR report, there are numerous factors that are propelling the global mobile phone accessories market share. Some of these entail the growing need for protective accessories like screen guards and tampered glasses that protect the smartphone against physical damage, the surging need for wireless mobile accessories like wireless charger and Bluetooth headsets, growing adoption of e-banking and e-commerce, increasing need for smartphones, frequent change in technologies, growing adoption of smartphones among teenagers that in turn has increased the need for specific mobile accessories like headphones and mobile covers, and growing young working population. The additional factors adding market growth include changing outlook of the consumer group, upsurge in disposable income, rise in the popularity of social networking sites in urban areas, and rapid technological advances such as light in selfie sticks, built-in fan, Bluetooth/NFC speakers, and noise canceling technology.
On the contrary, excessive use of headphones may impact the user’s hearing ability, lack of standardization, and rising threat of privacy may limit the global mobile accessories market growth over the forecast period.
Browse In-depth Market Research Report (110 Pages) on Mobile Accessories:
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Segmentation of Market covered in the research:
The MRFR report highlights an inclusive analysis of the global accessories market based on distribution channel, product type, and price range.
By price range, the global mobile accessories market is segmented into premium, medium, and low. Of these, the medium segment will lead the market over the forecast period. The medium price segment offers mobile accessories that are technologically advanced which is adding to the growth of the segment.
By product type, the global mobile accessories market is segmented into portable speaker, power bank, protective cases, headphone, and others. Of these, the protective cases segment will dominate the market over the forecast period and at a high CAGR. Rise in demand for protecting the mobile phones from physical damage is adding to the growth of the segment.
By distribution channel, the global mobile accessories market is segmented into offline segments and online segments. Of these, the offline segment will spearhead the market over the forecast period while the online segment will grow at a high CAGR for the rise in e-commerce market. It offers sellers more customers as well as more extended geographic reach while customers get more options in choosing while purchasing mobile accessories.
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Regional Analysis
APAC to Spearhead Mobile Accessories Market
Geographically, the global mobile accessories market is bifurcated into Europe, North America, the Asia Pacific, & Rest of the World (RoW). Of these, the APAC region will spearhead the market over the forecast period. High number of smartphones and other handheld devices in India and China, rising mobile phone users and internet-based activities like online shopping, high use of various forms of mobile accessories, the innovation of various products at lower rates, China being the leader of mobile phone industry, higher internet penetration, growing adoption of smartphones and their reduced prices, rising per capita income, advances in product technologies, increasing disposable income greater urbanization, and changing lifestyles are adding to the global mobile accessories market growth in the region.
North America to Hold Second-Largest Share in Mobile Accessories Market
In North America, the global mobile accessories market is predicted to hold the second-largest share over the forecast period. High per capita income, the presence of developing economies like Canada and the US, the US being a technology leader creates immense demand for products like headphones and Bluetooth earphones, portable speakers, and high capacity power banks, increased adoption of wireless accessories, the presence of advanced technology, and increasing inclination towards digitalization are adding to the global mobile accessories market growth in the region.
Europe to Have Promising Growth in Mobile Accessories Market
In Europe, the global mobile accessories market is predicted to have promising growth over the forecast period. The presence of huge number of developed countries in Europe, rising number of smartphone users, and major demand from European countries for mobile accessories like display protectors, headphones, wireless connectivity enabled earphones, and power banks, are adding to the global mobile accessories market growth in the region.
RoW to Have Sound Growth in Mobile Accessories Market
In RoW, the global mobile accessories market is predicted to have sound growth over the forecast period. High demand from developing countries, changing lifestyle, increasing disposable income, and increasing demand for smartphones are adding to the global mobile accessories market growth in the region.
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COVID-19 Impact on the Global Mobile Accessories Market
The global mobile accessories market has unfortunately faced the brunt of the COVID-19 pandemic. Decrease in the frequency to purchase smartphones, limited availability of components, and shortage of labor supply due to government-imposed lockdowns and physical distancing trends have all had a negative impact on the market growth.
Industry Updates
May 2021- Leader in mobile accessories, Spigen has confirmed the arrival of its latest accessory lineup for Apple’s Airtag.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.