Mobile Accessories Market Trends

Growth Drivers

• Advancements in fast-charging technologies: The market is witnessing rapid growth, attributed to the adoption of wireless charging and fast-charging technologies. The growing preference for wireless charging systems among consumers is fueling the demand for wireless accessories due to their easy operation. Various organizations are developing Gallium Nitride (GaN) chargers to deliver more efficient operation and compact designs as compared to conventional silicon-based chargers. In December 2023, Ugreen Group Ltd. launched the Nexode Pro Series, featuring four GaN-powered chargers equipped with GaNInfinity technology to reduce CO2 emissions and provide a faster charging experience.  

• Growth of E-Commerce and online retail: The rapidly expanding e-commerce platforms are propelling the adoption of mobile accessories, providing global accessibility to consumers. Online retail presents a wide selection of accessories, competitive prices, and enables doorstep delivery, which leads to higher sales. Several e-commerce companies and DTC brands are leveraging the shift in consumer buying patterns by running special promotions and combination sales, which naturally draw in new customers.

Challenges

• Counterfeit and low-quality products: The prevalence of counterfeit and low-quality mobile accessories poses a significant challenge for established brands. These unauthorized products, often sold at lower prices, attract budget-conscious consumers but come with risks such as overheating, short circuits, and poor durability. Substandard power banks and charging cables have been linked to battery damage and even fire hazards, raising safety concerns. As a result, consumers are losing trust in mobile accessory brands, even if they unknowingly purchase fake products.