Global Mobile Phone Accessories Market is valued to reach USD 268.6 Billion by 2026, growing at CAGR of 3.2% over forecast period 2020–2026. Growing demand for wireless accessories and adoption of smartphones, rapid production of portable devices and increasing online retail market are key factors driving the market growth.
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Market Trends, Drivers, Restraints, and Opportunities:
- Rise in the use of Internet in developed as well as developing countries is anticipated to fuel the growth of the market.
- Increasing technological advancements such as the use of Bluetooth& NFC speakers, noise-cancelling technology, and built-in light and fan in selfie sticks, are expected to create growth opportunities in the market.
- Many research and development activities have been initiated by phone and accessory manufacturers to improve product quality are anticipated to drive the marker growth.
- Uncertainty in the market caused due to high tariff imposed by countries on imports and exports is likely to hamper the growth of the market during the forecast period.
- The demand for mobile phone accessories is expected to grow in the coming years owing to the increase in disposable income and rise in popularity of social networking sites across the globe.