CAGR: 7%Current Market Size: USD 83 BillionFastest Growing Region: North America
Largest Market: APACProjection Time: 2023-2030Base Year: 2022
The global mobile phone accessories market is expected to grow from USD 83 billion in 2022 to USD 142.6 billion by 2030, at a CAGR of 7% during the Projection period 2023-2030. The growth of the mobile phone accessories market is mainly driven by the rising usage of mobile phones.
Because smartphones are an excellent way of communication all over the world, the mobile accessories market is predicted to grow. During the Projection period, this is expected to boost the market. Furthermore, rising demand for wireless devices, combined with rapid technological advancements, is projected to drive the market in the near future. Companies, for example, are developing cutting-edge technologies such as wireless headphones and speakers. At the moment, there is a greater reliance on smartphones for communication and entertainment, which is fueling global demand for mobile phone accessories. One of the primary aspects driving market expansion is the growing popularity of mobile photography. Furthermore, due to the increased customer appetite for music on the go, sales of headphones and earphones are increasing. Wireless headphones and earbuds are replacing cable versions because they are more portable, allow for hands-free use, and are more compatible with modern gadgets. Furthermore, increased technological breakthroughs, such as the use of noise-cancelling technology, are propelling market expansion. Aside from that, users are increasingly purchasing screen protectors, which help reduce glare, improve privacy, repel dirt, and protect against ultraviolet (UV) damage. Furthermore, they protect the screen from scratches and damage caused by accidently dropping the phone. Customers are also acquiring power banks to increase the performance of their mobile phones because batteries have a limited life span.
Sample Request: - Global Mobile Phone Accessories Market
Market Dynamics:
Drivers:
The demand for smart gadgets such as smartphones, smart wearables, and tablets is increasing at an exponential rate in today's technological age. Smartphones have enabled individuals all around the world to communicate instantly through SMS, text messaging, phone conversations, video chat, and applications. They are small enough to fit in a pocket or bag and are lightweight. Individuals on a restricted budget can select from some low-cost models. The entertainment component of smartphones has also raised demand for them. The rising level of living and economic prosperity, particularly in Asia's developing countries, has resulted in a significant surge in smartphone sales. The demand for smartphone accessories is influenced by the demand for smartphones.
Restraints:
Because of the increased demand for cellphones and their accessories, a parallel offline and online industry for counterfeit and illegally imported goods has emerged. The key reasons for the rise were China's low-cost bulk production of counterfeit accessories and the lack of anti-counterfeiting protections. It is difficult to determine the legitimacy of a mobile phone attachment just on its appearance. Customers looking for low-cost branded accessories frequently purchase counterfeit products, the profits of which do not benefit the brand.
Opportunities:
The increased desire for improved smartphone camera quality and convenience of photography has resulted in significant technological breakthroughs in the creation of smartphone accessories. They include wide-angle lenses, video stabilisers, rapid photo printers, and portable spotlights. Certain smartphones may lack built-in wide-angle and high-resolution lenses, as well as a good video stabiliser. To address these problems, accessories are being created to improve the photography capabilities of mobile phones without the need to purchase additional devices such as a digital camera. The demand for portable lenses, flashlights, and stabilisers is predicted to generate an opportunity for the expansion of the mobile phone accessories market due to the convenience element involved and the increasing trend of content creation for many social media websites.
Challenges:
Mobile phone accessory producers suffer enormous losses as a result of counterfeit items, which reduces investment in smart mobile accessory research and development. The Asia-Pacific region's absence of rigorous laws for counterfeit items may pose further obstacles to the growth of the mobile phone accessories market during the Projection period.
Segmentation Analysis:
The global mobile phone accessories market has been segmented based on product type, distribution channel, price range, and region.
By Product Type
The product type segment is wireless controller, battery, screen guard, headphone, battery case, portable speaker, protective case, charger, power bank, and memory card. The headphone segment led the largest share of the mobile phone accessories market with a market share of around 30.23% in 2022. The expanding sophistication of headphones, which is also fueling market growth for uncompromising connectors such as type-c USB Ports cables, is one of the most developing trends in the mobile sector at the moment. Increasing fitness awareness among the youthful population has fueled recent demand for sports and fitness headphones. Because of the development in travelling trends alone, the appeal of cheap headphones has expanded among the economical consumer group.
By Distribution Channel
The distribution channel segment is offline and online. The offline segment led the largest share of the mobile phone accessories market with a market share of around 59.08% in 2022. The higher percentage is due to the growing tendency of purchasing mobile phone accessories from offline outlets, mostly to ensure product quality. The majority of customers want to test the sound quality of headphones, the clarity of camera lenses, and the protective cover to check if it looks good. Due to counterfeit and low-quality products sold on top e-commerce platforms, there is also a lack of trust in acquiring mobile phone accessories. Customers, especially when purchasing a protective case, cannot see how the protective cover will look on their phone. As a result of these reasons, the sector is drawing more customers via offline distribution channels.
By Price Range
The price range segment is premium range, entry level and mid-range. The premium range segment led the largest share of the mobile phone accessories market with a market share of around 38.88% in 2022. Higher growth is attributed to increased sales of branded mobile phone accessories as a result of compatibility difficulties and improved quality. Customers who buy accessories want to improve their user experience and expand the functionality of their existing cellphones. They do not want to sacrifice quality, durability, or user experience, which leads to rising sales of premium mobile phone accessories. Furthermore, the premium range items' novel features and durability will drive the mobile phone accessories market over the Projection period.
Global Mobile Phone Accessories Market - Sales Analysis.
The sale of the mobile phone accessories market expanded at a CAGR of 6.3% from 2016 to 2022.
In recent years, the increase in the working-age population has supported market expansion to a large extent. The changing consumer mindset has also had an impact on market growth. Women tend to change their phone covers regularly, which has an impact on total market growth. Men, on the other hand, prefer to switch to other equipment such as headphones and rapid chargers. The fact that the goods make mobile phone usage easier and smoother, making them popular among consumers. For example, the development of smartwatches has made it easier to check notifications and calls without having to take the phone out of one's pocket.
Power banks have simplified life for those who use their smartphones frequently and travel frequently. Increasing the quality and features of smartphones while decreasing their prices has resulted in an increase in the number of consumers for the product, which eventually increases the demand for phone safety and security, as the modern consumer is less bothered to go the extra mile to keep their phone safe, trendy, and vogue. An increase in internet penetration, combined with artificial intelligence implemented by online retailers to provide customers with pop-up notifications about the product, is also a significant driver driving industry expansion.
Thus, owing to the aforementioned factors, the global mobile phone accessories market is expected to grow at a CAGR of 7% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the mobile phone accessories market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific region dominated the mobile phone accessories market and held a 38.2% share of the market revenue in 2022.
Global Mobile Phone Accessories Market - Country Analysis:
Germany's mobile phone accessories market size was valued at USD 0.75 billion in 2022 and is expected to reach USD 1.19 billion by 2030, at a CAGR of 6% from 2023 to 2030. In Germany, players often play PC or console games, but because to the success of the mobile version of PUBG and open-world games such as genshin impact, the region has recently experienced huge development in mobile gaming. Graphically demanding games on mobile platforms will appeal to a large number of gamers who often play games on PC, consoles, or the Nintendo Switch. Furthermore, sales of wireless mobile controllers will increase due to the high standard of life and higher per capita income in countries such as Germany.
China’s mobile phone accessories market size was valued at USD 0.78 billion in 2022 and is expected to reach USD 1.26 billion by 2030, at a CAGR of 6.2% from 2023 to 2030. Over the Projection period, the increasing mobile gaming sector in China would raise demand for mobile gaming accessories and headphones. Many manufacturers, including Panasonic, OnePlus, Sony, and Samsung, are releasing novel mobile phone accessories, fueling the region's market growth.
India's mobile phone accessories market size was valued at USD 0.60 billion in 2022 and is expected to reach USD 0.96 billion by 2030, at a CAGR of 6.1% from 2023 to 2030. Countries such as India have emerged as key contributors to the expanding mobile phone accessories business in terms of consumption and mass manufacture at a low cost. Because of the availability of raw materials and the lower cost of labour and transportation, mass production is gaining pace in Asia-Pacific.
Key Industry Players Analysis:
To increase their market position in the global mobile phone accessories market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
7% |
Market Size |
83 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Product Type, By Distribution Channel, By Price Range, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Belkin International Inc., Harman International Industries, Samsung, Aukey, Google, Groove Made Walnut, Anket Power Core, UE Boom, Apple Inc., and SanDisk. |
By Product Type |
|
By Distribution Channel |
|
By Price Range |
|
Regional scope |
|
Scope of the Report
Global Mobile Phone Accessories Market By Product Type:
Global Mobile Phone Accessories Market By Distribution Channel:
Global Mobile Phone Accessories Market By Price Range:
Global Mobile Phone Accessories Market By Region:
Global mobile phone accessories market is expected to reach USD 142.6 billion by 2030.
The mobile phone accessories market is projected to have a CAGR of 7%.
Based on the product type, the mobile phone accessories market is segmented into wireless controller, battery, screen guard, headphone, battery case, portable speaker, protective case, charger, power bank, and memory card.
The demand for smart gadgets such as smartphones, smart wearables, and tablets is increasing at an exponential rate in today's technological age. Smartphones have enabled individuals all around the world to communicate instantly through SMS, text messaging, phone conversations, video chat, and applications.
Leading market players active in the global mobile phone accessories market are Belkin International Inc., Harman International Industries, Samsung, Aukey, Google, Groove Made Walnut, Anket Power Core, UE Boom, Apple Inc., SanDisk among others.
Political Factors- In the twenty-first century, the significance of political issues in international commerce has grown in importance. It has become clear as a result of increased government and regulatory supervision of technological corporations. The Huawei ban also demonstrated that governments are becoming increasingly assertive in their control of technological corporations, whether domestic or international. Numerous other Internet companies, like Facebook and Google, have also encountered considerable difficulties in international markets, primarily due to regulatory challenges. The Huawei ban, as well as the trade battles between China and the United States, indicate that governments and regulatory agencies will have a larger role in international commerce. The level of regulation and political oversight is also increasing in the smartphone business.
Economic Factors- Economic considerations have a significant impact on foreign enterprises, and economic conditions in important areas have a direct impact on sales and revenue. The state of the global economy or large local economies has an impact on both demand and sales. Rising demand in emerging markets is predicted to propel the smartphone sector into stronger growth in 2020. The state of the global economy has a direct impact on smartphone sales and revenue for companies such as Huawei, Samsung, and Apple. The economic situation has a direct impact on various essential issues such as employment, poverty, and consumer purchasing power. Good economic conditions in important markets translate into increased demand and sales.
Social Factors- Sociocultural aspects are becoming a major consideration in the commercial world. Social trends are also playing an important part in increasing demand in the smartphone market. Despite a modest fall in smartphone consumption, it remained strong globally in 2018. One of the primary factors was a shift in client lifestyles around the world. The number of smartphone users worldwide has increased dramatically in recent years. Smartphones have become an integral part of many people's lives. Furthermore, smartphone manufacturers are equipping them with capabilities that allow them to easily blend into people's lives. Google Play contains millions of apps.
Technological Factors- The smartphone industry's growth is heavily influenced by technological aspects. Technology is not only a fundamental difference in this business, but it is also the primary driver of growth and an important source of competitive advantage for brands. Major manufacturers such as Apple, Samsung, and Huawei invest much in research and development each year in order to increase the appeal of their existing models and introduce new ones with greater features. The smartphone industry's competition has remained fierce, resulting in a greater emphasis on quality and user experience. Apple just announced the iPhone 11 and iPhone 11 Pro, both of which include the A13 Bionic chip. This microprocessor offers improved performance and processing speed.
Environmental Factors- The influence of corporations on the environment and community has become a major concern across the industry. Environmental rules have also been tightened by government agencies. Furthermore, the environmental impact of businesses has a direct impact on their public image. This is why businesses are becoming more concerned of their environmental impact. Its emphasis on sustainability has risen, including sustainable sourcing and manufacturing, as well as sustainable procedures. Investing in sustainability has various advantages, including lower operational costs and a better social image. Governments around the world have enacted stronger environmental restrictions, and firms must work on sustainability to remain compliance with these laws.
Legal Factors- For successful global operations, law and legal aspects are now of essential importance in the entire technology business. Many reasons have increased government regulation and monitoring of technology industries, including smartphone brands. On the one hand, while governments must be concerned about the expanding global power of technology companies, developing concerns such as consumer privacy and data security have also necessitated increased monitoring. Compliance is critical for functioning successfully in diverse countries throughout the world. It is for this reason why smartphone firms have specific compliance teams that focus on complying with local regulations in the places where the business operates, as well as international rules that affect the firm's business.
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