Europe Mobile Phone Accessories Market Outlook - 2027
The Europe mobile phone accessories market size was valued at $36.67billion in 2019 to reach $47.18 billion by 2027, growing at a CAGR of 2.8% from 2020 to 2027.
Mobile phones play an important and vital role in modern day to day life. Increase in adoption of smartphones, as they offer effective connectivity to the digital world, majorly drives the mobile phone accessories market. Rise in demand for wireless accessories also boosts the market growth. This increase in demand is attributed to the change in customer preferences to listen to music on portable devices, such as smartphones and tablets.
Presently, the Europe mobile accessories market experiences a significant growth. Increase in sales of smartphones fuel the demand for mobile accessories. Rise in purchasing power and changes in lifestyle of people are the key factors that boost the sales of mobile phone accessories.In addition, online portals have become a convenient mode for buying accessories, owing to easy payment and refund policies. The changing consumer attitude toward online shopping is adding advantage to the Europe mobile accessories market growth.
By Product Type
Headphones segment is projected as one of the most lucrative segments.
Rise in adoption of smartphones in Europe is expected to majorly drive the market growth as they offer seamless connectivity to the digital world. In addition, Bluetooth wireless headphones offer portability, convenience, cost-effectiveness, efficiency, and flexibility, compared to wired devices, which provides convenience to customers over wired headphones. Rise in demand for such wireless accessories is also anticipated to drive the mobile phone accessories market. Demand for mobile phone accessories has increased,owingto surge in disposable income and rise in popularity of social networking sites in urban areas. Rapid technological advancements, including implementation of noise canceling technology, Bluetooth/NFC speakers, and built-in fan and light in selfie sticks, are expected to offer lucrative growth opportunities in the future.
By Distrubution Channel
Offline segment generated the highest revenue in 2019.
The Europe mobile phone accessories market is segmented on the basis ofproduct type, distribution channel, price range, and region. By product type, it is divided into battery, headphones, portable speaker, chargers, memory card, power bank, protective case, battery cases, screen guard, popsockets, and others. Bydistribution channel, it is bifurcated into online and offline. Byprice range, it is classified into low medium and premium.By region, themarket is analyzed across Germany, the UK, France, Nordic countries, Holland, Spain, Portugal, Eastern Europe, Belgium, and rest of Europe. Nordic countries are further analyzed across Norway, Sweden, Denmark, and Finland.
Germany region would exhibit the highest CAGR of 4.7% during 2020-2027
Top Impacting Factors
The significant factors that impact theEurope mobile phone accessories market growth include rise in adoption of smartphones, growth in use of smart mobile phone accessories, and advancements in on the go devices and gaming accessories. However, risein penetration of counterfeit productsactas amajor barrier for theiradoption, which hampers the Europe mobile phone accessories market share. Moreover, technological advancements in imaging and photographic accessories are anticipated to provide lucrative opportunities for the growth of the Europe mobile phone accessories market during the forecast period.
Some major factors impacting the market growth are given below:
Increase in demand for intelligent surveillance
Rapid technological developmentsinmobile phones in the 21st century has led to its adoption as a utility, used for day to day tasks such as alarms, task reminders, and remote controlling appliances. The entertainment and media industry is exploring functionalities such as large sized touch screens, speakers, easy control volume buttons, voice control intelligence, and other applications for command & control of functions offered by the mobile phone accessory device. As a result, smartphones are used as alternatives for laptops, cameras, wrist watches, and other electronics to a considerable level. Therefore, increase in penetration of smartphone increases the need for mobile accessories as well, which ultimately leads to the market growth.
Growth in use of smart mobile phone accessories
Advancements in technologies have led to rise invarious features such as AI and IoT, which have brought hyper connectivity and intelligence in electronic devices. This has promoted the use of wireless mobile accessories such as smart wearables, smart speakers, and wireless headsets & earphones. Furthermore, advancements in the sector of smart wireless mobile accessories result in the growth of the mobile accessories market.
The key players operating in the Europe mobile phone accessories market are Panasonic Corporation, Sennheiser Electronic GmbH & Co. KG, Sony Corporation, Samsung Electronics Co., Ltd., Apple Inc., Bose Corporation, Amazon Inc., Carrefour S.A., MediaMarkt, J SAINSBURY PLC, and Xiaomi Corporation.
Key Benefits for Stakeholders:
- This study comprises analytical depiction of the Europe mobile phone accessories market size along with the current Europe mobile phone accessories market trends and future estimations to depict the imminent investment pockets.
- The overall market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact Europe mobile phone accessories market analysis.
- The current s market forecast is quantitatively analyzed from 2019 to 2027to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the Europe mobile phone accessories market.
Europe Mobile Phone Accessories Market Report Highlights
By Product Type
By Distribution Channel
By Price Range
Key Market Players
APPLE INC., J SAINSBURY PLC, AMAZON.COM, INC., MEDIAMARKT, PANASONIC CORPORATION, XIAOMI CORPORATION, CARREFOUR S.A., SAMSUNG ELECTRONICS CO. LTD., SENNHEISER ELECTRONIC GMBH & CO. KG, SONY CORPORATION, BOSE CORPORATION
Europe mobile phone accessories market holds high potential for the battery case segment. The market growth is also attributed to increasing R&D investments by the large players to deploy enhanced specifications in the product portfolio. Moreover, companies are projected to indulge in partnership, product launch, and acquisition to make the most use of technology, which is further projected to propel the market growth.
The Europe mobile phone accessories market is gaining traction, owing to increased adoption of smartphones, growth in usage of smart mobile phone accessories, advancements of OTGs and wireless attachment and advancement in gaming accessories, which positively influences its growth. In addition, technological advancements in imaging and photographic accessories drive the market growth in the coming years.
Among the analyzed regions, Germany among the analyzed countries in Europe exhibits the highest adoption of mobile phone accessories and has been experiencing massive expansion of the market. Further, Germany is expected to grow at a faster pace, predicting lucrative growth due to adoption of advanced and premium mobile phone accessories. Regions such as Nordic and Eastern, are also expected to experience new growth opportunities in the future.
The Europe mobile phone accessories market provides numerous growth opportunities to the market players such as Panasonic Corporation, Sennheiser Electronic GmbH & Co. KG, Sony Corporation, Samsung Electronics Co., Ltd., and Apple Inc. Increased adoption of mobile phone accessories over various industry verticals offer lucrative opportunities for the market expansion.