According to a recent report published by Allied Market Research, titled, " Europe Mobile Phone Accessories Market by Product type, Distribution Channel and Price Range: Global Opportunity Analysis and Industry Forecast, 2020-2027," the Europeanmarket was valued at $36.67billion by 2019 and is projected to reach $47.18 billion by 2027, growing at a CAGR of 2.8% from 2020 to 2027.
In 2019, Eastern Europedominated the market, contributing more than 25% share of the overall revenue, followed by Germany. The Europe mobile phone accessories market analysis in the report include Poland, Turkey, Ukraine, Bulgaria, and Czech Republic in the east Europe market.
Mobile phone accessories are used with smart phones or mobile phones for assistance and support for various operations such as listening music, tracking daily routines, and protection of fragile mobile phones. These products include electronic devices and entities such as speakers, smart watches, earphones, and protective cases. These are offered in the market in various standards and forms as a marketing strategies.
Rise in adoption of smartphones in Europe is expected to majorly drive the Europe mobile phone accessories 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 anticipated to drive the mobile phone accessories market. This increase in demand is attributedto change in customer preferences such as listening to music on smartphones and tablets. 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.
Region wise, the Europe mobile phone accessories market is analyzed across Germany, UK, France, Nordic countries, Holland, Spain, Portugal, Eastern Europe, Belgium, and rest of Europe. Nordic countries is further analysed across Norway, Sweden, Denmark and Finland. Eastern Europewas the highest revenue generator in 2019, accounting for $9.28 billion, and is estimated to garner $11.00 billion by 2027, growing at a CAGR of 1.80%. This is attributed to the fact that over the past few years, increase in number of users of smartphones has increased in this region. However, North America is expected to account for $2.58 billion by 2027, growing at a CAGR of 13.73%.
The Europe mobile phone accessories market is segmented into product 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. By distribution channel, itisbifurcated into online and offline. By price range, it is classified into low medium and premium. By region, it 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.
Key Findings of the Study:
- By product type, the headphones sensors segmentheld the highest revenue of $8.56billion in 2019 and contributed a major part in the Europe mobile phone accessories market size.
- By distribution channel, the offline Europe mobile phone accessories segment held the highest revenue share of the market in 2019, generating$27.85 billionas per theEurope mobile phone accessoriesmarket analysis.
- By price range, thepremium range segmentheld the highest revenue share of the market in 2019, generating $21.71billion.
- By region, eastern Europeis expected to dominate themarket,garnering a major shareduring the forecast period.
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.