DUBLIN--(BUSINESS WIRE)--The "Mobile Phone Accessories Market by Product Type, Distribution Channel, and Price Range: Global Opportunity Analysis and Industry Forecast, 2019-2026" report has been added to ResearchAndMarkets.com's offering.
The global mobile phone accessories market size was valued at $224.69 billion in 2018, and is projected to reach at $284.06 billion by 2026, growing at a CAGR of 3.1% from 2019 to 2026.
Mobile phone plays an important role in the modern day to day life. Today, phones allow its users to access internet, take pictures, and listen to music, as well as feature as storage devices. The global mobile phone accessories market is expected to witness significant growth in the future, owing to increase in the purchasing power and changes in lifestyles of the people.
Rapid technological advancement of smartphones, powered with AI, sensors, and others, has made it an important part of our personal and professional life. In the current digital era, we are highly dependent on our smartphones for various day to day personal and professional activities. For instance, now a days paying our utility bills, travel & groceries expenses, and others, can easily be tracked and monitored through one click in smartphone. Also, the online delivery people, sales people, and other vendors, use it for tracking the products or locations, and also for meeting purposes.
Moreover, the features such as handsfree and others generate the need of headsets and earphones urge the user to buy these mobile accessories. Furthermore, the fragile frame and display screen of mobile drive users to purchase protective case and screen guards as well. These protective accessories are manufactured in terms of design and quality to attract users. Therefore, the increase in penetration of smartphone increases the mobile accessories market as well.
The growing vertical of media and entertainment has brought advanced photographic and video graphic mobile phone accessories. The imaging accessories used in smartphones such as tripods, stabilizer stands, phone lenses, instant photo printer, and others. Further, penetration in the usage of social media applications such as Facebook, Instagram, and others has raised the number of casual photographers, which is expected to boost the market of photo and imaging mobile accessories.
Furthermore, the development in miniaturization of photo and printing accessories such as HP Sprocket photo printer, that provide instant printouts connected over mobile phone and can be accommodated in the pockets of users provide ease of handling and quality. In addition, the infotainment websites and applications used in smartphones such as YouTube offers mementos and money to promote its users who have high-end public ratings. Therefore, the penetration of social media application and its penetration among users is expected to boost the growth of the mobile accessories market during the projected period.
The Asia-Pacific mobile phone accessories market is expected to register the highest CAGR during the forecast period, due to the rapid technological advancements and an increase in the adoption of smartphones by the growing population in the region.
Key Findings
- The headphone segment accounted for the highest share in 2018 growing at a significant rate from 2019 to 2026.
- The offline segment generated the highest revenue in 2018.
- Asia-Pacific is expected to dominate the mobile phone accessories market during the forecast period.
Market Dynamics
Drivers
- Growth in usage of smart mobile phones
- Rise in usage of smart wireless accessories
- Technological advancements of OTGs and wireless attachment
- Advancement in gaming accessories
Restraint
- Increase in penetration of counterfeit products
Opportunity
- Technological advancements in imaging and photographic accessories
Challenges
- Trade war between the developed nations
Companies Mentioned
- Panasonic Corporation
- Sennheiser Electronic GmbH & Co. KG
- Sony Corporation
- Samsung Electronics Co. Ltd.
- Apple Inc.
- Bose Corporation
- BYD Co Ltd.
- Plantronics Inc.
- Energizer Holdings Inc.
- JVC Kenwood Corporation
For more information about this report visit https://www.researchandmarkets.com/r/9b7u7j
