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 |
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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.