NEW YORK , Oct. 13, 2022 /PRNewswire/ -- The global mobile phone accessories market size is expected to grow by USD 32.73 billion during 2021-2026, at a CAGR of almost 6%. The integration of advanced functionalities in smartphones, the growing preference for wireless mobile phone accessories, and the proliferation of low-priced smartphones are some of the major factors propelling the market growth. However, factors such as the growing market for counterfeit mobile accessories and the short shelf life of smartphones may impede the market growth.
Key Mobile Phone Accessories Market Driver
One of the key factors driving market growth in the mobile phone accessories market is the integration of advanced functionalities in smartphones. The competition in the global smartphone market has intensified as smartphone manufacturers are focusing on integrating innovative features and technologies in their products to stay competitive in the market. Such latest innovations will allow users to employ their devices for several applications, such as taking high-definition videos and selfies, accessing mobile applications quickly, and playing high-definition games. All these activities will generate the demand for accessories such as power banks, earphones, headphones, protective cases, screen protectors, and others to use smartphones in effective ways, triggering the growth of the focused market during the forecast period. Request a Sample Report
Key Mobile Phone Accessories Market Trend
One of the prominent market trends in the mobile phone accessories market is the increasing focus on improving telecommunication network infrastructure. Smartphone manufacturers, government organizations, and telecommunication service providers are working in collaboration to improve the telecommunication network infrastructure to support high network bandwidth capacity. This is accelerating investments in the 4G/5G networks and developments in 4G/5G compatible devices. For example, in September 2018 , Celcom Axiata Berhad, a Malaysia -based mobile telecommunications provider, announced that it had signed an agreement with Telefonaktiebolaget LM Ericsson. Under this agreement, Telefonaktiebolaget LM Ericsson will supply Celcom Axiata Berhad with radio access network (RAN) equipment from its Ericsson radio system portfolio. This will accelerate the use of mobile phones for accessing online audio and video content which, in turn, result in high demand for mobile phone accessories.
Key Mobile Phone Accessories Market Challenge
One of the prominent market challenges that are hindering the growth of the mobile phone accessories market is the growing market for counterfeit mobile accessories. The counterfeit mobile accessories market records high growth in emerging economies such as Indonesia , Malaysia , India , and Taiwan in APAC. This demand is driven by the increased preference for low-cost products in the region and the high availability of counterfeit products. The easy availability of these products on every distribution channel, including physical and online retail stores, in each country, makes it difficult to control the sales of counterfeit items. The increasing sales of these products are reducing the total potential market for mobile accessories creating a challenge for the growth of the global mobile phone accessories market.
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Global Mobile Phone Accessories Market Segmentation
The mobile phone accessories market share growth in the protective cases segment will be significant during the forecast period. There are several types of protective cases, such as slim and transparent covers, which are mostly for aesthetics, as well as ultra-rugged ones available in the market, which can survive even an intense impact facilitating the growth in the segment during the forecast period.
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Mobile Phone Accessories Market 2022-2026: Key Highlights
CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will assist in mobile phone accessories market growth during the next five years
Estimation of the mobile phone accessories market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the mobile phone accessories market
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of mobile phone accessories market, vendors
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Mobile Phone Accessories Market Scope
Accelerate at a CAGR of 6%
APAC, North America, Europe, South America, and Middle East and Africa
US, Canada, China, India, and Brazil
Leading companies, competitive strategies, consumer engagement scope
Anker Technology UK Ltd, Apple Inc., AUKEY, Bose Corp., GN Store Nord AS, Hon Hai Precision Industry Co. Ltd., HP Inc., Intex Technologies India Ltd., JVCKENWOOD Corp., Koninklijke Philips NV, LG Electronics Inc., Logitech International SA, Otter Products LLC, Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Sennheiser Electronic GmbH and Co. KG, Skullcandy Inc., Sony Group Corp, Vinci Brands LLC, and Xiaomi Inc
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
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3.4 Market outlook: Forecast for 2021-2026
5 Market Segmentation by Product Type
5.3 Protective cases - Market size and forecast 2021-2026
5.4 Screen protectors - Market size and forecast 2021-2026
5.5 Headphones and earphones - Market size and forecast 2021-2026
5.6 Wired Chargers - Market size and forecast 2021-2026
5.7 Others - Market size and forecast 2021-2026
5.8 Market opportunity by Product Type
7.3 APAC - Market size and forecast 2021-2026
7.4 North America - Market size and forecast 2021-2026
7.5 Europe - Market size and forecast 2021-2026
7.6 South America - Market size and forecast 2021-2026
7.7 Middle East and Africa - Market size and forecast 2021-2026
7.8 China - Market size and forecast 2021-2026
7.9 India - Market size and forecast 2021-2026
7.10 US - Market size and forecast 2021-2026
7.11 Brazil - Market size and forecast 2021-2026
7.12 Canada - Market size and forecast 2021-2026
8.3 Impact of drivers and challenges
10.7 Hon Hai Precision Industry Co. Ltd.
11.3 Currency conversion rates for US$
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