According to a recent report published by Allied Market Research, titled, “U.S. Mobile Phone Accessories Market by Product Type: Opportunity Analysis and Industry Forecast, 2019-2026,” the U.S. mobile phone accessories market size is expected to reach from $29.10 Billion in 2018 to $75.62 Billion by 2026. U.S. mobile phone accessories market size, growing at a CAGR of 13.6% from 2019 to 2026.
The U.S. mobile phone accessories market is expected to drive the consumer electronics industry vertical by 2026. Moreover, rise in demand for portable electronics such as power banks, AR/VR headsets, fitness bands, and smart watches in the U.S boosts the growth of the market. In addition, changing lifestyle, advancement of mobile technology, and growth in health-conscious population in the U.S. are the major factors expected to fuel the growth of the mobile phone accessories market.
Furthermore, increase in disposable income of the population is another prominent factor that boost the U.S. mobile phone accessories market growth. Market players are offering an extensive range of products to give a cutting-edge competition. Moreover, leading market players are highly investing in R&D to develop wireless technologies for accessories, such as wireless chargers and smart speakers. Companies in this industry are strategizing mergers and acquisition activities to strengthen their business position in the competitive landscape of the market.
At present, technologies such as 4G/LTE are used as the preferred means of connecting mobile devices to the Internet. High data rate enabled by the 4G technology helps devices such as smart speakers, fit bands, and smart watches to function seamlessly and thus gain popularity among the consumers. Moreover, fitness enthusiasts are increasingly shifting their interest toward smart watches and fitness bands as these devices can track numerous biological details and guide the user to live a healthy life.
Due to ongoing trade-wars between the U.S. and China, President of the U.S., Donald Trump issued a ban or 25% import duty to several Chinese importers that included devices used for communications technology, which could affect the Chinese market to enter the U.S. market. This is because companies from the electronics industry not only import raw materials from China but also export finished products. The primary reason U.S. would be affected is due to the tariffs laid on China as it will increase the cost of raw materials imported for the U.S. businesses ultimately forcing them to pay more to make the same goods. This also results into discouraging the Chinese consumer and businesses from buying U.S. products and brands.
The U.S mobile phone accessories market is segmented on the basis of product type. Based on product type, the market is segmented into headphones, battery, battery case, speakers, power bank, chargers, screen protection, and protective case. Headphones segment is expected to dominate the U.S. mobile phone accessories market share in the forecast period.
Key Findings Of The Study
The key players operating in the market include Apple Inc., Bose Corporation, BYD Company Ltd., Energizer Holdings, Inc., Jvckenwood Corporation, Panasonic Corporation, Plantronics, Inc, Samsung Electronics Co. Ltd., Sony Corporation, and Sennheiser Electronic GmbH & CO. KG which are profiled in this report. The U.S. mobile phone industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, agreements, and others to influence the U.S. mobile phone accessories market growth.