Global mobile phone accessories market to record 3.1% CAGR through 2027

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Nov 26, 2020 (Market Insight Reports) —
Selbyville, Delaware. Market Study Report LLC: According to the report titled ‘Global Mobile Phone Accessories Market Size study with COVID Impact, By Product type (Battery. Headphone/Earphone, Portable Speaker, Charger, Memory Card, Power Bank, Battery, Case, Protective Case, Screen Guards, Pop sockets, Others) By Distribution Channel (Online, Offline) By Price Range (Premium, Mid, Low) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global mobile phone accessories market was valued at USD 231.6 billion in 2019 and is anticipated to record a CAGR of 3.1% during 2020-2027.

Growing adoption of smartphones and other mobile devices, along with surging popularity of wireless accessories are the key factors driving the growth of global mobile phone accessories market.

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Mobile phone accessories include power banks, protective cases, memory cards, handheld speakers, headphones/earphones, batteries, and chargers. As per reliable survey, in 2013, one in every four adults (in age group of 18 to 34 years) owned a smartphone across nine emerging countries. This share in most economies reached two-thirds by the year 2018, augmenting global mobile phone accessories market share.

Moreover, technological advancements including lightweight & built-in fan in selfie sticks, NFC speakers/bluetooth, and noise canceling technology implementation are likely to create lucrative opportunities for the market players. However, harmful after-effects like hearing disability due to excessive use of earphones may hinder the expansion of global mobile phone accessories industry.

Based on product type, global mobile phone accessories market is divided into pop sockets, screen guards, protective case, battery case, power bank, memory card, charger, portable speaker, headphone/earphone, and battery. Speaking of distribution channel, the industry is bifurcated into offline and online. In terms of price range, the market is split into low, medium, and premium.

Citing the regional landscape, global mobile phone accessories market outlook is segmented into Latin America, Europe, North America, Asia Pacific, and Rest of the World. The report states that Asia Pacific held considerable share of the overall market in the past year and is expected to showcase a decent growth rate over the study period. The regional growth is attributable to high production of mobile phones in economies like Australia, Singapore, Japan, India, and China.

Meanwhile, Europe mobile phone accessories industry is poised to attain notable gains, registering high growth rate over the assessment period. North America market is also projected to record significant growth during 2020-2027.

Major players influencing global mobile phone accessories market trends are Energizer Holdings Inc., JVC Kenwood Corporation, Plantronics Inc., BYD Co. Ltd., Bose Corporation, Apple Inc., Samsung Electronics Co. Ltd., Sony Corporation, Sennheiser Electronic GmbH & Co. KG, and Panasonic Corporation.

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