Cell phones are electronics devices, which erase distance by improving communications between human beings. Moreover, mobile phones play a crucial role in modern day-to-day life due to changes in lifestyles and increase in people’s purchasing power. The younger generation is interested in listening to music on portable devices such as tablets, smartphones, Bluetooth connected headphones, etc. Tech giants in the mobile phone accessories market are focusing on capturing local markets to generate higher profit margin.
Over the past few years, increasing subsidies on mobile networks such as Jio, Airtel, Idea and others have started a revolution in the global mobile phone accessories market and this is expected to continue during the period of forecast. Going forward, the global mobile phone accessories market is expected to grow with a triple-digit CAGR owing to the craze for music and video on the mobile phone among the younger generation. Moreover, technological advancements such as Bluetooth speaker, light in selfie stick, built-in fan and noise canceling technology are expected to make the market more attractive over the forecasted period.
The global mobile phone accessories market can be segmented on the basis of product type:
- portable speaker
• Memory card
• Power bank
• Protective case
• Headphones or earphones
The global mobile phone accessories market can be segmented based on price range:
The global mobile phone accessories market can be segmented on the basis of sales channel:
• Secondary market
• In line
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Rising demand for wireless mobile accessories facilitating increased adoption of smart phones, especially for online banking, shopping and other important applications is expected to drive the global market during the forecast period. In addition, the increase in social networking as well as the increase in internet penetration among the global population is also expected to drive the growth of the global mobile phone accessories market throughout the forecast period.
Areas of improvement for market players
Based on an in-depth investigation of mobile phone accessories, heavy use of earphones or mobile earphones can affect human hearing ability. Thus, manufacturers should also focus on making devices more environmentally friendly and cost-effective.
Regional Market Outlook
The global mobile phone accessories market is segmented into the following regions: North America, Latin America, Europe, APAC, and Middle East & Africa. Pacific is expected to dominate the market owing to the increase in smartphones, especially in China, India, and Japan. North America and Latin America are expected to experience rapid growth. Moreover, Europe is expected to gain popularity in the global market due to people’s increased interest in music sound quality and video effects. The Middle East and Africa region is expected to grow with a slow growth rate due to the lack of mobile infrastructure.
The key players in the global mobile phone accessories market are:
• Beats (Apple)
Research methodology :
TMR surveys a number of companies to estimate the data covered in the report through the triangulation methodology. A detailed understanding of the market and assessment of the drive and application segments covered in the study. The research methodology also includes interviews conducted for various industry leaders by the research experts. This helps researchers match their previous results with those confirmed by various resource persons. The report focuses on the analysis of the supply side approaches and keeps track of the demand side one to ensure that the conclusions are true. The global market scenario has been derived from the consolidation of regional market insights.
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