The increasing application of mobile phones and the expansion of 5G technology to ease operations and help in the smoother functioning of these devices are expected to have significant impact on the mobile phone accessories market. According to a study by Future Market Insights (FMI), the market will surpass US$ 86.80 Bn by 2021.
With the incorporation of IoT in households, a swift rise in the demand for mobile phone accessories has been witnessed, and this trend will continue in the near future. The emergence of 5G technology will also boost the demand for mobile phone accessories that work on augmented reality and virtual reality technology.
The high speed of 5G technology will provide a better experience of devices that are connected through wireless technology and will play a major role in driving the demand for wireless connectivity devices.
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In addition, growth in smart homes and smart appliances sales has been a complementing factor for mobile phone accessories. The demand for protective cases and covers is expected to be significantly high. Nearly 20% of mobile phone accessories sales are expected to concentrate in this segment.
With the advent of 5G technology, consumers will have a better experience at the usage of smart devices owing to better connectivity and high-speed Internet, which is estimated to fuel the demand for smart devices in the near future.
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Key Takeaways from the Mobile Phone Accessories Market Study
- FMI in its latest study has forecast the market to rise at a CAGR of ~6.7% between 2021 and 2031
- The U.S. is expected to register impressive growth, accounting for above 78% of overall sales in North America
- The U.K. is expected to register nearly 4% Y-o-Y growth in 2021
- The demand from Germany and France is expected to rise considerably in response to the expansion of 5G networks
- While China will remain leading market in East Asia, the demand from South Korea and Japan too is expected to rise at a swift pace
Product Synopsis
A recent market study published by Future Market Insights on the mobile phone accessories market offers global industry analysis for 2016-2020 & opportunity assessment for 2021-2031. The study offers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical, as well as current growth parameters, the growth prospects of the market are obtained with maximum precision.
Competitive Landscape
Manufacturers of mobile phone accessories are focusing on R&D and product innovation to introduce innovative products to expand their customer base. Growth in research & development has led to innovation in connectivity via various technologies such as AirPlay, Wi-Fi, Bluetooth, and NFC. There is also increasing focus on product launches.
For instance:
- Huawei announced the launch of FreeBuds 4i with ANC to support ten hours of playback
- Syska has launched 20,0000mAh power bank with 18W support for swift charging
- Lumiford has launched a range of wireless headphones, HD50, HD60 and HD70
Some of the leading companies operating in the market are:
- Samsung Electronics Co., Ltd.
- Logitech International S.A.
- Harman International Industries, Incorporated
- Plantronics, Inc.
- Sony Corporation
- Apple Inc.
- Skullcandy Inc.
- GN Group
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Mobile Phone Accessories Market by Category
Product Type
- Power Banks
- Batteries
- Chargers
- Wired
- Wireless
- Protective Cases & Covers
- Headsets
- Portable Speakers
- Memory Cards
- Data Cables
- Mount & Stands
- Selfie Stick
- Others (Stylus Pen)
Packaging Type
- Folding Cartons
- Clear View Boxes
- Pouches & Bags
- Clamshells
- Blister Packs
- Trays
Sales Category
- By Brands
- By 3rd Parties
- By White Labels/No Name Brands
Price Range
- Premium
- Mid
- Low
Sales Channel
- Retail Outlets (Multi-Brand Outlets)
- Electronic Stores
- Franchise Outlets
- Exclusive Stores (Branded Stores)
- E-Commerce
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East and Africa (MEA)
- Oceania