Mobile Accessories Market size is expected to cross USD 220 billion by the end of 2036, growing at a CAGR of 7% during the forecast period i.e., 2024-2036. In the year 2023, the industry size of mobile accessories was over USD 91.9 billion. One of the main drivers of market expansion in the mobile phone accessories sector is the incorporation of cutting-edge functionalities. Competition has grown in the world's mobile phone market, as smartphone manufacturers seek to integrate cutting-edge features and technology to keep up with competitors. For example, in October 2022, Apple Inc., a multinational technology company based in the U.S. planned to release its flagship iPhone 14 Pro and Super Max devices.
In addition, sales of mobile accessories are expected to increase as a result of growing demand for wireless devices such as wireless charging in combination with frequent technological changes. Companies are coming up with new technologies like wireless headsets and speakers. In the past few years, this has increased demand for mobile accessories, which in turn is expected to drive the market revenue through 2036.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
7% |
|
Base Year Market Size (2023) |
USD 91.9 Billion |
|
Forecast Year Market Size (2036) |
USD 220 Billion |
|
Regional Scope |
|
Product Type (Headphone, Charger, Power Bank, Protective Case, Portable Speaker, Memory Card, Screen Guard, Pop socket)
In terms of product type, the protective case segment is anticipated to hold the largest mobile accessories market share of 30% by the end of 2036. Increasing demand for cases due to frequent changes in products among female consumers is expected to drive the market. In addition, specific cases are preferred by some mobile phone manufacturers such as Apple when it comes to enhancing the emblems of their products. As a result, market expansion is expected to accelerate from 2023 to 2036. By the end of 2026, protection case sales are poised to reach 181.7m units across the globe.
Distribution Channel (Online, Offline)
In terms of distribution channel, the offline segment is expected to hold 80% share of the global mobile accessories market by 2036. Growing demand for expensive devices such as camera lenses and smartwatches alongside the delivery of goods is also flexible are expected to boost the expansion of the market. The growth of this segment is due to the usual shopping method as well as differences in prices at local shops and across wholesale markets.
In the mobile accessory sector, traditional offline distribution is still widely used since it offers instant accessibility, a hands-on consumer experience, and the guarantee of being able to examine product quality in-store. This approach provides quick satisfaction, individualized support from employees, and an easier return procedure. Being physically present in strategic places increases brand awareness, which makes it a popular option in developing nations and for people who might find it difficult to access internet resources. Customers may engage with items, get advice, and watch demos in an offline retail setting. These special benefits help explain why offline retail has remained successful in the mobile accessory sector for so long and contributes to the market value.
Our in-depth analysis of the global market includes the following segments:
|
Product Type |
|
|
Distribution Channel |
|
|
Price Range |
|
APAC Market Forecasts
The mobile accessories market in the Asia Pacific region is expected to hold the largest revenue share of 36% till 2036. In emerging countries, rising disposable incomes and increasing young populations seeking aesthetic value in their devices will likely contribute to the market in the region. There is a large population base for mobile accessories at the higher and lower levels, as well as an increased level of customizability in southern Asia. Competition is fierce given the fact that there are many unorganized, medium-sized operators and catering companies in tier II- III cities that cater to a growing young population. The main drivers of market growth in this region are the increasing use of various types of accessories, innovation at low cost, and China's leading position in the cell phone sector. Imports of mobile accessories from China amounted to 1.2 million, imported by 4,086 Indian importers and 3,566 Chinese suppliers in accordance with the applicable import data.
The region's varied customer tastes open up possibilities for a broad range of accessories that are backed by ongoing technical developments. Easy access to items is made possible by the expanding e-commerce market, and consumers are encouraged to spend on improving their smartphone experience. The Asian-Pacific market is experiencing a surge in demand for innovative accessories due to factors such as a considerable youth population and a passion for mobile gaming and entertainment. The Gen Z-focused brand NOPE launched its first range of smart devices and mobile accessories in India with the assistance of over 370 distributors and 15 brand partners. NOPE debuted a broad array of goods targeted at young, enthusiastic music lovers.
North American Market Statistics
The mobile accessories market in the North America region is set to grow significantly with a share of 27 % during the time period between 2024-2036. The region has seen significant growth because of the presence of high-end mobile phone manufacturers such as Apple, Moto, and Samsung. They have also introduced a range of mobile phone accessories to address compatibility issues and provide better quality for their users. To improve user experience, Apple has created an ecosystem for mobile phones. This ecosystem also includes a leather MagSafe pocket, AirPods, chargers, power cords, protection cases and other accessories.
Author Credits: Abhishek Verma
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?