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Mobile Phone Accessories Market Analysis by Product Type (Power Bank, Batteries, Selfie Sticks, Chargers, Portable Speakers, Headsets, and Others); by Packaging (Folding Cartons, Boxes & Bags, Pouches, Trays, and Others); by Price Point (Premium, Medium, and Lower); and by Distribution Channel (Electronic Stores, Franchise, Retail, and Online)– Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • February 16, 2022:Sony Corporationenters into a strategic agreement with Niantic, Inc. to develop auditory AR for headphones. These headphones are projected to be attached to a technology that allows users to enjoy sounds from the real and virtual world at the same time.
  • December 20, 2018: Lava International to launch budget fit earphones, Groove Fit. Groove Fit comes with a comfortable grip, portability, durability, and superior sound. Groove Fit earphones are capable to give an extraordinary experience to the users.

Global Mobile Phone AccessoriesMarket Size, Forecast, and Trend Highlights Over 2022 - 2031

Mobile-Phone-Accessories-Market-CAGR

The global mobile phone accessoriesmarket is estimated to garner noteworthy revenue by the end of 2031 by growing at a CAGR of ~7% over the forecast period, i.e., 2022 – 2031. Further, the market generated remarkable revenue in the year 2021. The growth of the market can primarily be attributed to the increasing number of mobile phone users globally. For instance, the number of smartphone users in 2019 was estimated to be around 2.5 billion while the number is further anticipated to rise by around 1 billion by the year 2040.

Mobile-Phone-Accessories-Market-Overview

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Furthermore, the global mobile phone accessoriesmarket is also projected to grow on the back of rising sales of back covers and stylus during the forecast period. In 2018, around 75% of smartphone users were observed to be using protective cases. Additionally, global mobile phone accessories market trends such as the rising adoption of e-commerce and the growing urban population are anticipated to hike the market growth over the forecast period. For instance, nearly 4.5 billion people were noticed to be living in urban areas in 2021 across the globe which is further expected to reach 6.5 billion by the year 2050. Hence, such factors are projected to influence the market growth positively over the forecast period.

Global Mobile Phone AccessoriesMarket: Growth Drivers and Challenges

Growth Drivers

  • Rising Prevalence of E-Commerce

It was observed that more than 1.5 billion people purchased goods online in 2020 across the 24 million E-Commerce sites.

In the modern era, people prefer online mediums to buy goods than personally visiting the place. Owing to the higher prevalence of the internet, the e-commerce industry is growing exponentially. Moreover, people have a wide range of options on online sites to purchase mobile phone accessories since they can be ordered from anywhere across the globe. Hence, such a demand is projected to foster the growth of the market over the forecast period.

  • Spiking Number of Social Networks Users

As of 2022, around 55% of the world’s population is estimated to be using social media.

  • Skyrocketing Sales of Truly Wireless Stereos

The unit share sales of truly wireless stereos were projected to be at around 12% in 2020 which increased to approximately 18% in 2021.

  • Mounting Disposable Income Across the Globe

The disposable income of different nations is rising exponentially. For instance, the disposable income of India was estimated to be around 200 lack crore for the year 2020-21.

  • Higher Number of Internet Users

The number estimated of people using the internet was approximately 4.5 billion in 2022.

Challenges

  • Chances of Fake Branding and Fake Branding
  • Higher Cost Associated with the Phone Accessories
  • Lack of Durability of the Product

The global mobile phone accessoriesmarket is segmented and analyzed for demand and supply by packagingintofolding cartons, boxes & bags, pouches, trays, and others,out of which, the folding cartons segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the escalating utilization of folding cartons in multiple industries growing production of packaging paper. For instance, over 350 million metric tons of packaging paper were produced in 2020 across the globe.

Major Macro-Economic Indicators Impacting the Market Growth

Global-Research-and-Development-Expenditure

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in the ICT sector has significantly contributed to GDP growth, labour productivity, and R&D spending among other transformations of economies in different nations around the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Mobile Phone AccessoriesMarket Regional Synopsis

Regionally, the global mobile phone accessoriesmarket is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America regionis projected to hold the largest market share by the end of 2031. The market is anticipated to grow in the region on the back of the growing number of personal electronics and mobile phone users over the forecast period. For instance, the number of mobile phone users in the USA was projected to be around 300 million in 2020 while the total shipment of smartphones was estimated to be approximately 150 million in 2021. Additionally, the rising number of internet users and growing disposable income of the region is further expected to hike the growth of the market over the forecast period.

Mobile-Phone-Accessories-Market-Analysis

The global mobile phone accessoriesmarket is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global mobile phone accessoriesmarket includes the following segments:

 

 

 

 

Product Type

  • Power Ban
  • Batteries
  • Selfie Sticks
  • Chargers
  • Portable Speakers
  • Headsets
  • Others

 

 

By Packaging

  • Folding Cartons
  • Boxes & Bags
  • Pouches
  • Trays
  • Others

 

By Price Point

  • Premium
  • Medium
  • Lower

 

 

By Distribution Channel

  • Electronic Stores
  • Franchise
  • Retail
  • Online

Top Featured Companies Dominating the Global Mobile Phone AccessoriesMarket

  • Lava International

    • Company Overview

    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Kingston Technology Corporation
  • Sony Corporation
  • Plantronics, Inc.
  • GN Group
  • Samsung Electronics Co., Ltd. 
  • Harman International Industries, Incorporated
  • Apple Inc.
  • Micromax Informatics
  • Skullcandy Inc.

FREQUENTLY ASKED QUESTIONS

 

 


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