Mobile Phone Accessories - Taking the Smartphone Experience to All New Level
Advancements in technology and consumer demand for innovative products have played a key role in shaping the mobile phone and mobile phone accessories market. With preference for sleek, lightweight, and delicate mobile phones ascending on a pace, sales of innovative accessories including external battery packs, wireless headphones, and wireless chargers have been skyrocketing.
The mobile accessories industry is on the brink of entering the future that exclusively demands technological innovation and product enhancement. Moreover, unique mobile phone accessories are likely to become more interesting than smartphones, as the US$ 78 Bn market is set to record 6.3% CAGR over the next decade.
Protective Cases & Covers Remain the Bestselling Category
Demand for protective mobile phone cases and covers continues to move on an upward trajectory, and are estimated to account for 1/4th of the total sales in 2019. Looking beyond the specifications of their smartphones, consumers are keeping a close eye on pairing them with unique mobile phone accessories that could potentially elevate the overall experience. The result is expected to lead to increasing demand for protective cases and covers.
In their efforts to gain a substantial market share, cell phone accessories manufacturers are relying on introducing innovative products, with prime focus on the convenience factor. Owing to commendable progress in voice recognition technology and seamless integration of speech recognition software in smartphones, the demand for clip-on headphones, and wireless audio products is expected to witness noteworthy growth.
Manufacturers Eye Lucrative Opportunities in APEJ
The mobile phone accessories market is expected to thrive in Asia Pacific excluding Japan (APEJ), owing to high internet penetration, growing adoption of smartphones, and falling prices of smartphones. Fast-developing economies such as India and China are expected to lead the mobile accessories landscape in the region.
Strong presence of multi-brand stores and swelling number of online retailers are further projected to propel the demand for mobile phone accessories in these countries. Indian market is expected to particularly remain influenced by government initiatives to reduce the potential dependency on foreign imports from Taiwan and China. This has provided local manufacturers with the much-needed push to establish a strong base in the current marketplace.
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Next-gen Wireless Charging - Moving Away from Power Cables
In the current technological era, as consumers seek convenient and fast-paced mobile charging solutions, manufacturers are concentrating their efforts towards improving the functionalities and the overall performance of the current wireless charging alternatives. The previous iterations of wireless charging were compatible with a very limited range of devices – a major roadblock that played a key role in denting the adoption of wireless chargers in the past.
However, emerging technologies in conjunction with research activities have significantly boosted the prospects of cable-free charging. Moreover, as consumers gradually move away from power cables, a number of wireless mobile phone accessories are expected to garner significant momentum in near future.
How Growth Will Unfold
Demand for smartphone accessories continues to gain a boost from large-scale adoption of mobile phones in developing economies, such as India, China, and Indonesia along with integration of next-gen technologies. In addition to solidifying their presence in the market with diverse portfolio, manufacturers are focusing on effective mobile phone accessories packaging and omni-channel retail strategy.
In the U.S. and EU5, franchise outlets continue to contribute major share to manufacturers’ bottom lines. Whereas, sales through retail or multi-brand outlets in developing countries in Asia Pacific and Middle East & Africa are witnessing a quantum leap. The impact of proliferating e-commerce industry is also noticeable in the mobile phone accessories market, compelling manufacturers to leverage new channels to attract a large number of consumers worldwide.
MOBILE PHONE ACCESSORIES MARKET TAXONOMY
The global mobile phone accessories market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Power Banks
- Protective Cases & Covers
- Portable Speakers
- Memory Cards
- Data Cables
- Mount & Stands
- Selfie Sticks
- Others (Stylus Pen
- Folding Cartons
- Clear View Boxes
- Pouches & Bags
- Blister Packs
- 3rd Parties
- White Labels/No Name Brands
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Middle-East and Africa