According to a new report by Allied Market Research, titled, U.S. Mobile Phone Accessories Market by Product type: U.S. Opportunities Analysis and Industry Forecast, 2018-2025, the U.S. mobile phone accessories market was valued at $26,988.2 million in 2017 and is projected to reach $66,434.3 million by 2025, growing at a CAGR of 12.86% from 2018 to 2025.
A mobile phone plays a critical role in the current societys day-to-day functions. The masses find it imperative to purchase various mobile accessories to add to the functionalities of the phone and secure it from damage. This rising demand for wireless accessories has propelled the growth of the U.S. mobile phone accessories market.
In 2017, the headphone segment was the major revenue contributor to the U.S. market, owing to upsurge in dependency on smartphones for personal and business deals, ease in the call connect/disconnect feature, comfortable medium of entertainment, and product varieties such as wired and wireless modes such as Bluetooth. In the same year, the offline segment of the U.S. market accounted for a 64.8% revenue share and was the highest revenue contributor. However, rapid digitalization in the future is expected to adversely affect the growth of the segment.
The report features a competitive scenario of the U.S. mobile phone accessories market and provides a comprehensive analysis of the key growth strategies adopted by major players. The key players profiled in the report are Panasonic Corporation, Sennheiser Electronic GmbH & Co. KG, Sony Corporation, Samsung Electronics Co., Ltd., Apple Inc., Bose Corporation, BYD Co., Ltd., Plantronics, Inc., Energizer Holdings, Inc., and JVC Kenwood Corporation.
Key Findings of the U.s. Mobile Phone Accessories Market :
- The headphone segment accounted for the highest share in 2017, with $6,559 million and is expected to grow at a CAGR of 1.6% from 2018 to 2025.
- The offline segment generated the highest revenue in 2017, contributing $17,482 million.
- The Bluetooth speaker segment is projected to be the most lucrative segment during the forecast period.