Mobile Phone Accessories Market to Witness Comprehensive Growth by 2023

Aug 31, 2020: Mobile phone accessories are software or hardware components that are not integral to the operation of mobile phone. The increasing adoption of smartphones and other handheld mobile devices has led to the rapid growth of the global mobile phone accessories market. Mobile phone accessories include chargers, batteries, headphones/earphones, portable speakers, memory cards, protective cases, and power banks.

The global Mobile Phone Accessories market is anticipated to reach USD$ 83.91 billion by 2021, expanding at a CAGR of 6.75% between 2017 and 2021. Mobile phone accessories complement the features, performance, and maintenance of mobile handsets. Technological innovations and the need for the effective maintenance of mobile phones have propelled the growth of the global mobile phone accessories market.

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The market is highly dynamic due to frequent product launches introducing new features. The compatibility and interchangeability of mobile phone accessories let consumers choose from a wide range of product offerings. The growing demand for mobile phone accessories and high profit margins of products has led many established players in the mobile handset market to launch their own accessories.

Factors that drive the market growth are rise in demand for wireless accessories, growth in smartphone adoption, and increase in disposable income in developing countries such as China, India, and Brazil, and strong distribution network in China, Indonesia, Brazil, and Russia. In addition, market growth is expected to be boosted by the rise in sales of smartphones and increase in Internet penetration, popularity of social networking websites, and customers increasing need for convenience, which can be delivered with mobile accessories such as power banks, headphones and others. Budget friendly, safety, and introduction of noise canceling technology strengthen the technological advancements in this market. However, excessive use of headphones affecting the hearing ability of users is a major limitation that restricts the market growth.

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By 2021, APAC is forecasted to account for nearly 55% of the total market share. The mobile phones accessories market in APAC is highly driven by the strong sales of smartphones. Factors such as the affordability of smartphones, rising disposable income, and increased buying power of the middle-class population will lead to the growing demand for accessories in this region.

In the context of China-US trade war and global economic volatility and uncertainty, it will have a big influence on this market. Mobile Phone Accessories Report by Material, Application, and Geography - Global Forecast to 2023 is a professional and comprehensive research report on the world's major regional market conditions, focusing on the main regions (North America, Europe and Asia-Pacific) and the main countries (United States, Germany, United Kingdom, Japan, South Korea and China).

The report firstly introduced the Mobile Phone Accessories basics: definitions, classifications, applications and market overview; product specifications; manufacturing processes; cost structures, raw materials and so on. Then it analyzed the world's main region market conditions, including the product price, profit, capacity, production, supply, demand and market growth rate and forecast etc. In the end, the report introduced new project SWOT analysis, investment feasibility analysis, and investment return analysis.

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