Mobile Phone Accessories Market is valued around USD 228.57 Billion in 2019 and expected to reach USD 328.69 Billion by 2030 with the CAGR of 3.3% over the forecast period.
Mobile phone accessories are the additional software or hardware components to which helps in the efficient functioning of mobile phone. Every component has different function such as charger is meant for mobile charging; earphones are for listen and so on. These components help to maintain the connectivity with outer world through the means of smart phone. There are different accessories available in the market includes, screen protector, mobile cover, memory card & many more.
Global Mobile Phone Accessories Market report is segmented on the basis of product, distribution channel, price range and by regional. Based upon product, the mobile phone accessories market is fragmented into Battery, Headphone/earphone, Portable speaker, Charger, Memory card, Power bank, Battery case, Protective case, and others. On the basis of distribution channel, the market is categorized into online and Offline. On the basis of price range, the market is categorized into low, medium, and premium. The regional bifurcation of countries includes North America, Europe, Asia-Pacific, and RoW which are further segmented into major countries such as U.S., UK, France, and others.
The mobile phone accessories market is mainly driven by the constant growth in the smart pone along with rapidly growing communication industry. There has been technological advancement as well as growth in internet penetration all around the globe. In addition, growing disposable income along with the presence of developed infrastructure followed by the rapid growth of social media has directed the market growth. There has been surge in the demand of wireless technology which has created demand for wireless accessories which in turn created demand for the mobile phone accessories market. On the other hand, growth in third party applications as well as new product launches in the market is also expected to anticipate the market growth over the forecast period.
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The developed regions such as North America and Europe are expected to hold the major market share owing to the presence of major market players along with technological advancement. In addition, high adoption rate of smartphone as well as high disposable income & presence of developed infrastructure. Asia Pacific is expected to dominate the mobile phone accessories market in terms of growth rate owing to the rapid growth in communication industry followed by the high internet penetration. Moreover, growing disposable income with high adoption rate of advanced technology is likely to fuel the market growth.
The major market players profiled in the mobile phone accessories market includes Samsung Electronics, Energizer, Panasonic Corporation, Sony Corporation, JVC Corporation, BYD Inc., Beats (Apple Inc.), Sennheiser Electronics GmbH & Co. KG, Otterbox, Bose Corporation, Plantronics Pty Ltd, and Griffin Technology among others.