Mobile Phone Accessories Market Size to grow by USD 32.73 Bn, Driven by Integration of Advanced Functionalities in Smartphones - Technavio
NEW YORK, Oct. 13, 2022 /PRNewswire/ -- The global mobile phone accessories market size is expected to grow by USD 32.73 billion during 2021-2026, at a CAGR of almost 6%. The integration of advanced functionalities in smartphones, the growing preference for wireless mobile phone accessories, and the proliferation of low-priced smartphones are some of the major factors propelling the market growth. However, factors such as the growing market for counterfeit mobile accessories and the short shelf life of smartphones may impede the market growth.
Key Mobile Phone Accessories Market Driver
One of the key factors driving market growth in the mobile phone accessories market is the integration of advanced functionalities in smartphones. The competition in the global smartphone market has intensified as smartphone manufacturers are focusing on integrating innovative features and technologies in their products to stay competitive in the market. Such latest innovations will allow users to employ their devices for several applications, such as taking high-definition videos and selfies, accessing mobile applications quickly, and playing high-definition games. All these activities will generate the demand for accessories such as power banks, earphones, headphones, protective cases, screen protectors, and others to use smartphones in effective ways, triggering the growth of the focused market during the forecast period. Request a Sample Report
Key Mobile Phone Accessories Market Trend
One of the prominent market trends in the mobile phone accessories market is the increasing focus on improving telecommunication network infrastructure. Smartphone manufacturers, government organizations, and telecommunication service providers are working in collaboration to improve the telecommunication network infrastructure to support high network bandwidth capacity. This is accelerating investments in the 4G/5G networks and developments in 4G/5G compatible devices. For example, in September 2018, Celcom Axiata Berhad, a Malaysia-based mobile telecommunications provider, announced that it had signed an agreement with Telefonaktiebolaget LM Ericsson. Under this agreement, Telefonaktiebolaget LM Ericsson will supply Celcom Axiata Berhad with radio access network (RAN) equipment from its Ericsson radio system portfolio. This will accelerate the use of mobile phones for accessing online audio and video content which, in turn, result in high demand for mobile phone accessories.
Key Mobile Phone Accessories Market Challenge
One of the prominent market challenges that are hindering the growth of the mobile phone accessories market is the growing market for counterfeit mobile accessories. The counterfeit mobile accessories market records high growth in emerging economies such as Indonesia, Malaysia, India, and Taiwan in APAC. This demand is driven by the increased preference for low-cost products in the region and the high availability of counterfeit products. The easy availability of these products on every distribution channel, including physical and online retail stores, in each country, makes it difficult to control the sales of counterfeit items. The increasing sales of these products are reducing the total potential market for mobile accessories creating a challenge for the growth of the global mobile phone accessories market.
Global Mobile Phone Accessories Market Segmentation
Product Type
Protective cases
Screen protectors
Headphones and earphones
Wired Chargers
Others
Geographic Landscape
APAC
Europe
MEA
North America
South America
The mobile phone accessories market share growth in the protective cases segment will be significant during the forecast period. There are several types of protective cases, such as slim and transparent covers, which are mostly for aesthetics, as well as ultra-rugged ones available in the market, which can survive even an intense impact facilitating the growth in the segment during the forecast period.
APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution
APAC at 63%
Key consumer countries
US, Canada, China, India, and Brazil
Competitive landscape
Leading companies, competitive strategies, consumer engagement scope
Companies profiled
Anker Technology UK Ltd, Apple Inc., AUKEY, Bose Corp., GN Store Nord AS, Hon Hai Precision Industry Co. Ltd., HP Inc., Intex Technologies India Ltd., JVCKENWOOD Corp., Koninklijke Philips NV, LG Electronics Inc., Logitech International SA, Otter Products LLC, Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Sennheiser Electronic GmbH and Co. KG, Skullcandy Inc., Sony Group Corp, Vinci Brands LLC, and Xiaomi Inc
Market Dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of Contents:
1 Executive Summary
1.1 Market Overview
Exhibit 01: Executive Summary ? Chart on Market Overview
Exhibit 02: Executive Summary ? Data Table on Market Overview
Exhibit 03: Executive Summary ? Chart on Global Market Characteristics
Exhibit 04: Executive Summary ? Chart on Market by Geography
Exhibit 05: Executive Summary ? Chart on Market Segmentation by Product Type
Exhibit 06: Executive Summary ? Chart on Incremental Growth
Exhibit 07: Executive Summary ? Data Table on Incremental Growth
Exhibit 08: Executive Summary ? Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 09: Parent market
Exhibit 10: Market Characteristics
3 Market Sizing
3.1 Market Definition
Exhibit 11: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 12: Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021-2026
Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ billion)
Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ billion)
Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
4.1 Five forces summary
Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
4.2 Bargaining power of buyers
Exhibit 18: Chart on Bargaining power of buyers ? Impact of key factors 2021 and 2026
4.3 Bargaining power of suppliers
Exhibit 19: Bargaining power of suppliers ? Impact of key factors in 2021 and 2026
4.4 Threat of new entrants
Exhibit 20: Threat of new entrants ? Impact of key factors in 2021 and 2026
4.5 Threat of substitutes
Exhibit 21: Threat of substitutes ? Impact of key factors in 2021 and 2026
4.6 Threat of rivalry
Exhibit 22: Threat of rivalry ? Impact of key factors in 2021 and 2026
4.7 Market condition
Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by Product Type
5.1 Market segments
Exhibit 24: Chart on Product Type - Market share 2021-2026 (%)
Exhibit 25: Data Table on Product Type - Market share 2021-2026 (%)
5.2 Comparison by Product Type
Exhibit 26: Chart on Comparison by Product Type
Exhibit 27: Data Table on Comparison by Product Type
5.3 Protective cases - Market size and forecast 2021-2026
Exhibit 28: Chart on Protective cases - Market size and forecast 2021-2026 ($ billion)
Exhibit 29: Data Table on Protective cases - Market size and forecast 2021-2026 ($ billion)
Exhibit 146: Validation techniques employed for market sizing
Exhibit 147: Information sources
11.5 List of abbreviations
Exhibit 148: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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