Mobile Phone Accessories Market Overview:
Mobile Phone Accessories Market is expected to garner $107.3 billion by 2022. Mobile phone accessories assist in enhancing the user’s experience with mobile phones. At present, mobile phones are equipped with multiple functions such as clicking pictures, web accessing, listening to music, and storing data. Consumers improve and increase the value of their mobile phones with the help of different mobile accessories such as protective cases, headphones, USB cable, power banks, chargers, portable speakers, memory cards, and selfie stick.
The major factor that boosts the market growth is the increase in adoption of smartphones in urban areas due to effective connectivity to the digital world. Moreover, Bluetooth wireless headphones offer numerous advantages over wired devices such as portability, convenience, cost-effectiveness, efficiency, and flexibility. Rise in demand for wireless accessories owing to changing customer preferences to listen to music on portable devices such as smartphones and tablets through music streaming platforms like YouTube and sound cloud supplements the market growth. The demand for mobile accessories has increased due to rise in in disposable income and growth in popularity of social networking sites in urban areas. In addition, increase in Internet penetration has boosted the online retailing platform. However, factors such as excessive use of headphones affecting the hearing ability of users hampers the market growth. 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 opportunities for growth.
Key players operating in the world mobile accessories market are Panasonic Corporation, Senheiser Electronic GmbH & Co. KG, Sony Corporation, Samsung Electronics Co. Ltd., Apple Inc., Bose Corporation, BYD company Limited, Plantronics, Inc., Energizer Holdings, Inc., and JVC Kenwood Corporation.
Top Factors Impacting the World Mobile Phone Accessories Market
Rise in demand for wireless accessories
Change in lifestyle and preference for comfort and simplicity drive the demand for wireless mobile phone accessories. Currently, earphones & charger segment has witnessed tremendous demand in developing nations such as India, China, and Brazil. In the future, these countries are expected to contribute a notable share in the mobile accessories market, thereby offering growth opportunities.
Increase in smartphone adoption
With the change in customer preferences, industry players are continuously developing enhanced feature premium smartphones such as long-lasting battery, Bluetooth headset wireless speakers, and others. Furthermore, smartphones have replaced featured phones due to their increased affordability for the middle-class population. In the year 2015, the number of smartphones shipped was around 1.43 billion, and this is expected to increase in the coming years. The increase in smartphone penetration expands the mobile accessories market.
Increase in disposable income
Improving lifestyles due to rise in income level, especially in the developing countries such as India China, South Africa, and Brazil, is the key factor fueling the demand for mobile accessories. The per capita national income of India has increased by 9.2% as compared to that between 2012 and 2013, resulting in subsequent increase in accessories adoption rate. The effect of the rising income level factor is moderate in the market, and its impact is expected to increase in the near future, thus increasing demand for comfort among customers and growing per capita income.
Strong distribution network
Nowadays, multi-brand stores offer diverse range of mobile accessories such as colorful protective cases, cartoon characters, and superheroes and famous celebrities’ cases. Senheiser Electronics Gmbh Company expanded its distribution network in the headphones segment in Turkey. The effect of distribution network is moderate and its impact is expected to increase in the near future.
Adverse effect on hearing ability
The adverse effect of wireless accessories such as portable speakers and Bluetooth headsets on the hearing senses of end users is anticipated to have a negative influence on the market. The World Health Organization reported that about 22 million of the young population have disabled hearing ability due the unsafe level of sound by the use of wireless accessories. The prolonged use of wireless accessories at a high-frequency level of sound adversely affects the hearing ability and thus affects the growth of the market also.
Top Impacting Factors In The World Mobile Phone Accessories Market
Top Winning Strategies
Product launch is the key growth strategy adopted by the companies operating in the market, followed by technology enhancement and partnership. Several companies have developed innovative products to enhance their product portfolio. Product launch is widely adopted by various companies to increase their market outreach and serve global customers.
Top Winning Strategies In The World Mobile Phone Accessories Market
World Mobile Phone Accessories Segmentation
The market is segmented on the basis of product type, distribution channel, price range, and geography. It is analyzed across four regions, namely, North America, Europe, Asia-Pacific, and LAMEA along with their prominent respective countries. Premium price range segment is the major revenue contributor in 2014 owing to rise in disposable income, continuous updating technology, stable economic condition, and enhanced buying power of the middle-class population, especially in developing countries.
Asia-Pacific Mobile Phone Accessories Market Scenario
The Asia-Pacific mobile accessories market has witnessed significant growth due to increased production of mobile phones in China, India, Japan, Singapore, and Australia. Rise in disposable income, proliferation of e-commerce websites, and improved technology have boosted the sales of cellphone accessories, which in turn drives the growth of the market. In addition, digitization of infrastructure with increase in spending capacity of consumers, availability of low-cost products, and change in lifestyle pattern are favorable factors.
Asia-Pacific Mobile Phone Accessories, Statistics, 2014
- The report includes an in-depth analysis of the world mobile phone accessories market, including current trends, drivers, restraints, and growth opportunities.
- Porter’s Five Forces model highlights the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
- Value chain analysis provides a clear understanding of the roles of different stakeholders involved. Key market players are profiled to gain an understanding of the strategies adopted by them.
- This report provides a detailed analysis of the current trends and future estimations from 2016 to 2022, which facilitate in identifying the prevailing market opportunities.
Mobile Phone Accessories Market Segmentation:
By Product Type
- Portable Speakers
- Memory Card
- Power Bank
- Others (USB Cable & Selfie Stick)
By Distribution Channel
- Multi-Brand Store
- Single-Brand Store
By Price Range
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
- Panasonic Corporation
- Senheiser Electronic GmbH & Co. KG
- Sony Corporation
- Samsung Electronics Co. Ltd.
- Apple Inc.
- Bose Corporation
- BYD company Limited
- Plantronics, Inc.
- Energizer Holdings, Inc.
- JVC Kenwood Corporation.