No products in the cart.
Mobile Accessories Market - By product Type (Earphones & headphones, Chargers & cables, power bank, protective cases, others), By Distribution Channel (Online, offline) & Forecast, 2024 - 2032
Report ID: GMI6204
|
Published Date: July 2023
|
Report Format: PDF
Download free sample
Get a free sample of Mobile Accessories Market
Get a free sample of Mobile Accessories Market
Is your requirement urgent? Please give us your business email for a speedy delivery!
Buy Now
Immediate Delivery
$4,123 $4,850
15% off
$4,280 $5,350
20% off
$5,845 $8,350
30% off
Buy now
Premium Report Details
Base Year: 2023
Companies covered: 15
Tables & Figures: 428
Countries covered: 19
Pages: 165
Download Free Sample
Mobile Accessories Market Size
Mobile Accessories Market was valued at USD 84.7 billion in 2023 and is estimated to grow at a CAGR of 7% during the forecast period. The rapid growth of mobile accessories is due to the increasing number of smartphone users across the world. In 2023, According to International Telecommunication Union it has been observed that 78% of the world's population is owing a mobile phone and 67% are accessed to internet which is expanding the growth of mobiles and smartphones as well.
Due to the increased adoption of mobiles and smartphones there has been a growing demand for a wide range of accessories such as earphones & headphones, charger& cables, power bank and protective cases.
Additionally, technological advancements such as rising adoption of wireless technology such as wireless charging, fast chargers and Bluetooth wireless connectivity is contributing to the high growth of the mobile accessories by the consumers. With such technological advancements there is a need for advanced accessories which attracts the tech savvy consumers.
Manufacturers are introducing a wider range of accessories, incorporating new technologies, Tech savvy features and customizable choices. This diversity attracts consumers to have a unique experience and convenience.
The market is plagued by counterfeit accessories manufactured by low quality materials making it difficult for consumers to verify the genuine accessories authenticity. Counterfeit accessories lead to a bad impression of the brands values and increases risks of safety associated with the accessories for consumers.
Additionally, the mobile accessories market is highly saturated with the presence of numerous global and local manufacturers operating in the market. This can lead to intense competition among themselves and have low profit margins. Attracting new consumers and product differentiation is also difficult for brands offering similar technological products.
To stand out in the highly competitive market, Manufactures are investing heavily in research and developments and are coming up with a unique technologically advanced products to gain attention of consumers have maintain their position in the market.
Mobile Accessories Market Trends
The mobile accessories industry is gaining popularity in demand for health and wellness accessories. Accessories like smartwatches and fitness bands are perceived like an essential accessory under mobile accessories category. These accessories give consumers an insight about their overall health factors such as sleeping tack time, heart rate and various other for fitness enthusiasts’ consumers.
Furthermore, rapidly growing technologies is increasing preference for wireless connectivity such as wireless charging and headphones. Consumers are looking to have wire free devices. For instance, In May 2019 Samsung introduced new wireless power banks and charging pads for their consumers to have a truly wireless experience. The growing popularity and ease of use is driving the demand for wireless accessories for the market.
Mobile Accessories Market Analysis
Based on the product type, the market is divided into Earphones & headphones, chargers & cables, power banks, protective cases and others. In 2023, Protective cases held the dominant market of USD 25.57 billion and is expected to reach USD 40.6 billion by 2032. Protectives cases are designed to provide safety and protection to the smartphones. These are the essentials accessories that every smartphone user buyer to protect their mobile and avoid damages such as screen breaking and body damage. Due to protection to mobiles, there is a demand for protective cases.
Whereas earphones and headphones are second highest purchased accessories. Consumers are looking to have an enhanced audio experiences pushing manufactures to come up with high audio quality headphones and earphones and features such as noise cancellation and different range of styles is contributing to the growth of the segment.
Based on distribution channel, the mobile accessories market is categorized into online and offline. In 2023, the offline segment held the dominant market share of 67% and is anticipated to grow through the years. The dominance of offline segment is due to various factors such as hands on experiences, customer assistance support and easy replacing policies.
Consumers are preferring to buy mobile accessories offline as it offers hand on experiences. Consumers can physically tryout the accessories and have a real look feel and then make a final buying decision. Another factor is manufacturers and retailers provide an excellent assistance and support while purchasing accessories as well and post-sale service also. Lastly easy replacement policies and security concerns id driving consumers to shop from offline segment to have a seemless buying experience.
Asia pacific held a market of around USD 38.38 billion in 2023 and is expected to reach USD 70.62 billion by 2032. The regions dominance is due to the presence of manufacturing hubs in China, Taiwan and south Korea. These countries are known for their highly technical advancements further driving manufacturers to come up with new products and cater to the growing needs of consumers.
Another factor of dominance is due to the low affordability. As Asia pacific is hub for smartphones and mobile accessories. Manufactures have an advantage of manufacturing accessories at an affordable rate and then trade it globally.
Due to the presence of tech savvy consumers in North America it enables consumers to spend more on new technologies and accessories. Consumers in north America priorities the quality driving the demand for mobile accessories in the region.
The market in U.S. is set to grow through a CAGR of 5.6% through the forecast time. The worlds largest tech mobile company like apple. These are leading the innovation in mobile accessories and setting the benchmark for other companies out globally.
China is supposed to grow at the rate of 5.1% in the region. China is known as the manufacturing hub. The country has an advanced technology and strong supply chain and cost-effective production capability driving the demand for the productions of mobile accessories.
Mobile Accessories Market Share
In 2023, the market players such as Apple inc, Samsung electronics, Belkin international inc, Bose corporation, Logitech, Sony corporation and Xiaomi corporation. collectively held around 25%-30% market share. These prominent players are proactively involved in strategic endeavors, such as mergers & acquisitions, facility expansions & collaborations, to expand their product portfolios, extend their reach to a broader customer base, and strengthen their market position.
Mobile Accessories Market Companies
Major players operating in the market are:
Mobile Accessories Industry News
The mobile accessories market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2021 to 2032, for the following segments:
Click here to Buy Section of this Report
Market, By product Type
Market, By Distribution channel
The above information is provided for the following regions and countries: