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Mobile Accessories – Market Analysis & Opportunity Assessment, 2014 - 2020

Oct 16, 2014 | Chemicals & Materials | FMI

Accessories that complement the performance, maintenance, and features of mobile handsets are called mobile accessories.These include earphones, Bluetooth headsets, portable travel chargers, protective covers, and screen guards.Mobile accessories represent a moderate volume and high growth market due to changing lifestyles, technological innovations, and the need for effective maintenance of costly instruments. The mobile phone market is dynamic in nature with more frequent launchesin new features, accessories, and mobiles, giving rise to the need for custom-made screen guards and protective covers.

The interchangeability and compatibility of accessories other than covers and screen guards present customers with a wide range of products to select from.A large number of domestic, regional, and smaller players provide low-end products such as screen guards and covers to the market. These products are often not standardized, causing high disruptions in the market. Innovations in portable power backup devices, connection cables, and water resistant, scratch resistant, dust proof, and impact resistant covers and screen guards are driving growth in the market. Sound cancellation features, inherent bass, and microphone input features are driving growth in the earphone and headset segment. The mobile accessories market is expected to grow in-line with sales of mobile handsets. Some of the underlying factors for growth include rising disposable income, changing lifestyle, and rapid innovation in the consumer electronics segment.Moreover, lack of standardization of accessories opens up the market for domestic manufacturers.

The mobile accessories market is expected to outpace the growth of the global smartphones market, with a growth rate of 15% - 20% over the next five years.Some of the market players include Philips, Panasonic, Samsung, LG, and other electronic product and component manufacturers.