Mobile Phone Accessories Market: Power Banks is Foreseen to Foster the Mobile Accessory Industry: Global Industry Analysis and Opportunity Assessment 2015 - 2025
- REP-GB-112
- 2016-08-23
- 174 Pages
- Format:
- Category: Retail and Consumer Products
The rapid proliferation of mobile phones has created a burgeoning market demand for mobile phone accessories globally, leading to an exponential market growth. The global mobile phone accessories market is projected to register a high CAGR of 6.9% during the period 2015 to 2025 across the key regions of North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan, and the Middle East and Africa. Major trends observed in the market include rising mergers and acquisitions, diversification of product portfolio and product advancement, as well as new product development across the globe.
The global mobile phone accessories market has been segmented on the basis of products into protective case, headphone/earphone, charger, memory card, battery, power bank, portable speaker, and others. The market is also segmented by price range into premium, mid, and low; and on the basis of distribution channels into multi-brand store (further sub-segmented into organised store and independent store), single-brand store, and online store.
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Key market drivers and resultant trends
The mobile phone accessories market is influenced by certain key drivers that play a major role in altering market dynamics in the aforementioned regions.
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Increasing Disposable Income and Growing Global Population
- In 2015, global disposable income increased by 3.1% as compared to 2014, leading to a rapid growth of the mobile accessories market owing to increased demand for mobile accessories especially in developing countries of Asia Pacific and Latin America
- UN estimates point to an increase in global population from 7.2 billion in 2013 to 9.6 billion by 2050. Increasing population growth, coupled with growing GDP of developing countries such as Asia Pacific and MEA is likely to enhance the growth of the mobile accessories market over the forecast period
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Expanding Urban Population
- According to UN statistics, 54% of the world’s population resided in urban areas in 2014 and this number is projected to increase to 66% by 2050. Expansion of urban population across the globe, characterized by urban upper class and high net worth individuals, has led to a strong demand for advanced mobile accessories such as premium headphones and power banks. Moreover, rapid migration from rural to urban areas, particularly in countries such as China and Indonesia, is expected to support growth in this market over the forecast period
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Proliferation of Smartphones
- Smartphone adoption across countries such as China, Indonesia, and Brazil is growing at a fast pace, linked to increasing internet penetration and popularity of social networking in these countries.
- A growing trend of mobile shopping, e-banking, and Bring Your Own Device (BYOD) is accelerating the demand for smartphones across the globe, thereby fuelling growth of the mobile accessories market
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Strong Distribution Network
- Online retailing is becoming a most popular distribution channel in emerging markets such as China, Indonesia, Brazil, and Russia. To gain competitive advantage in the mobile accessories market, key providers largely rely on strong distribution channels such as multi-brand distributors and retailers of mobile accessories in order to better cater to customers
The global mobile phone accessories market is projected to account for US$ 121,726.4 Mn by the end of 2025. APEJ, North America, and Western Europe are collectively expected to account for 79.6% market share by 2025. The markets in Latin America and MEA are estimated to be the second- and third-fastest growing regional markets with CAGRs of 7.3% and 5.7% respectively over the forecast period.
This Future Market Insights (FMI) report examines the global mobile phone accessories market over an 11-year period from 2015 to 2025. The primary objective of the report is to offer useful insights into market trends and opportunities in the mobile phone accessories market across the key regions of North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan, and the Middle East and Africa.
The mobile phone accessories market has grown significantly in recent years owing to an increasing adoption of smartphones and tablets and is expected to register a CAGR of 6.9% during the projected period. This report analyses market dynamics and trends in all the seven regions, which influence the current nature and future status of the mobile phone accessories market over the forecast period. Several factors have led to a rapid growth of the global mobile phone market, in turn leading to an increased growth in the demand for mobile phone accessories:
- Continuous decrease in mobile phone prices
- Escalation in disposable income, which has transformed urban consumers’ buying and spending patterns
- Price discounts, variety of products offered by e-retailers, and convenient payment options such as cash on delivery
The report further covers the mobile phone accessories market performance in terms of revenue split to better understand market dynamics and trends. This section also includes FMI’s analysis of key trends, drivers, and restraints influencing the mobile phone accessories market. Impact analysis of key growth drivers and restraints based on the weighted average model is also included to better equip clients with pertinent decision-making insights. The report provides key insights into the various segments, sub-segments, and categories of the global mobile phone accessories market for a comprehensive understanding. The global mobile phone accessories market has been segmented on the basis of products into protective case, headphone/earphone, charger, memory card, battery, power bank, portable speaker, and others. The market is also segmented by price range into premium, mid, and low; and on the basis of distribution channels into multi-brand store (further sub-segmented into organised store and independent store), single-brand store, and online store.
The next section of the report highlights mobile phone accessories market adoption by region. It provides the market outlook for 2015 - 2025 and sets the forecast within the context of the market ecosystem. This study discusses key regional trends contributing to the growth of the global mobile phone accessories market on a worldwide basis and also analyses the extent to which global drivers are influencing the market in each region.
Research Methodology
All the above sections – by product, distribution channel, price, and region, evaluate the present scenario and growth prospects of the mobile phone accessories market for the period 2015 - 2025. These segments are analysed in terms of Basis Point Share (BPS) to understand individual segments’ relative contribution to market growth. This detailed level of information is important for identifying various key trends impacting the market. We have considered 2014 as the base year and provided data for the trailing 12 months. To calculate market size, we have considered revenue generated from the sales of various mobile phone accessories. The forecast presented here assesses total market revenue and to offer an accurate forecast, we started by sizing the current market, which forms the basis of how the mobile phone accessories market is projected to develop in future. Given the characteristics of the market, we triangulated the outcome of three different types of analyses based on supply side, consumer spending, and economic envelope. However, forecasting the market in terms of various mobile phone accessories segments and regions is more a matter of quantifying expectations and identifying opportunities than rationalising them after the forecast has been completed.
It is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse it on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities. Another important feature of this report is the analysis of key market segments and sub-segments, regional adoption, and revenue forecast in terms of absolute dollar. Absolute dollar forecast is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective. Furthermore, to understand key growth segments in terms of growth, we developed an Attractiveness Index to help providers identify real market opportunities.
The final section of the report includes a competitive landscape analysis to provide readers with a dashboard view based on categories of service providers in the value chain, presence in mobile phone accessories product portfolio, and key differentiators. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the mobile phone accessories market value chain. Readers can gain segment-specific vendor insights to identify and evaluate key competitors based on in-depth assessment of capabilities and market success.
Key Segments
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Key Regions/Countries
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North America |
Latin America |
Western Europe |
Eastern Europe |
Asia Pacific Excluding Japan (APEJ) |
Japan |
Middle East & Africa |
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Key Companies
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