In the modern world, where everyone is connected to each other through different technological communicators, mobile phones play a significant role. On the basis of growing demand for mobiles, the demand for accessories is also increasing robustly. In a published report by Future Market Insights (FMI), it is estimated that global mobile phone accessories market will be witnessing a robust growth throughout the forecast period, 2015-2025. In addition, it is also expected that the market is likely to expand at a CAGR OF 6.9% along with the drivers and latest trends.
Dynamics
The report reveals that the demand for mobile phone accessories in APAC and Latin America is growing robustly. Henceforth, global market for mobile phone accessories has witnessed an increase of 3.1% for disposal income in 2015. Owing to the migration of rural inhabitants to urban, especially in Indonesia and China, the population of urban areas is increasing. Therefore, it is predicted as a strong driver to grow the market robustly in the approaching years. Furthermore, the uses of social networking along with internet penetration in several countries, such as Brazil, Indonesia and China, is increasing rapidly. Henceforth, the mobile phone accessories market is expected to expand hugely in the upcoming years. More details on the mobile phone accessories market dynamics is given in the report.
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Key Segments
The report has analyzed a detailed forecast on the various segments along with sub-segments of global market for mobile phone accessories. The market has segmented into different product types, distribution channels and price range.
On the basis of different product type, the market has further segments, such as power bank, charger, battery, memory card, portable speakers, headphones or earphones, protective case and others. In the global market for mobile phone accessories, the protective case segmented was expected to share 20.5% revenue in the year of 2015. In addition, the segment is estimated to grow at 5.9% CAGR, whereas power bank segment is likely to expand hugely at a CAGR of 9.0% during the forecast period.
Based on different distribution channels, global market for mobile phone accessories has segmented into independent store, multi-brand store, online store, single-brand store and organized store. As per report, global market for mobile phone accessories will be expanding at a CAGR of 9.1% through 2025. The price range for mobile phone accessories varies among premium, low and medium cost. Among all, it is expected that the low price rage segment will be growing at a moderate CAGR of 7.2% in the assessment period.
Key Companies
The global market for mobile phone accessories has included several companies as the key participants. They are BYD Company Limited, Beats (Apple Inc.), Energizer, Samsung Electronics Limited, JVC Corporation, Bose Corporation, Otterbox Inc., Sony Corporation, Sennheiser Electronic GmbH & Co. KG, Pelican Products Inc., Philips Electronics Limited, Audio-Technica Corporation, Panasonic Corporation, Plantronics Pty. Limited and Griffin Technology, among others.
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Regional Outlook
Geographically, global market for mobile phone accessories is widely segmented into Latin America, Asia Pacific Excluding Japan (APEJ), Western Europe, Eastern Europe, Japan, North America and North America. In Asia Pacific excluding Japan (APEJ), the market has spread into various countries, including India, China, South Korea, Indonesia and other parts. In addition, Italy, U.K., France, Germany and other parts, are the several countries of Western Europe, where the demand for mobile phone accessories is growing robustly. The market for mobile phone accessories is expanding in various countries of Middle-East & Africa (MEA), such as GCC, South Africa, North Africa and other parts of MEA. Furthermore, the market of Poland & Russia in Eastern Europe and Canada & U.S in North America are also developing at a high speed through 2025. Besides, the market for mobile phone accessories in Mexico, Argentina, Brazil and other parts in Latin America is likely to grow hugely in the years to come.