PUBLISHER: The Business Research Company | PRODUCT CODE: 1455283
PUBLISHER: The Business Research Company | PRODUCT CODE: 1455283
Mobile accessories encompass additional hardware or supplementary devices designed to improve the functionality, aesthetics, or usability of mobile phones or smartphones. These accessories serve the purpose of either enhancing the convenience of mobile device usage or preventing damage.
The primary categories within the mobile accessories market include earphones or headphones, chargers, power banks, protective cases, and other related items. Headphones consist of a pair of small loudspeaker drivers worn on or around the head over a user's ears. Mobile accessories are available in various price ranges, categorized as premium, medium, and low, and find applications in diverse sectors such as residential, commercial, industrial, retail, hospitality, and healthcare. These accessories are distributed through various channels, including both online and offline outlets.
The mobile accessories market research report is one of a series of new reports from The Business Research Company that provides mobile accessories market statistics, including the mobile accessories industry global market size, regional shares, competitors with a mobile accessories market share, detailed mobile accessories market segments, market trends and opportunities, and any further data you may need to thrive in the mobile accessories industry. This mobile accessories market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The mobile accessories market size has grown strongly in recent years. It will grow from $234.04 billion in 2023 to $252.92 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth observed in the historic period can be attributed to the widespread proliferation of smartphones, evolving trends in fashion and personalization, the expansion of e-commerce, rising concerns about the durability of mobile devices, and the integration of multiple functions into these devices.
The mobile accessories market size is expected to see strong growth in the next few years. It will grow to $331.43 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The anticipated growth in the forecast period can be attributed to the increasing demand for gaming accessories, integration of augmented reality (AR) and virtual reality (VR), a heightened focus on sustainable and eco-friendly accessories, the popularity of health and fitness monitoring accessories, and advancements in smartphone camera enhancements. Significant trends expected in the forecast period include rapid innovation in product development, widespread adoption of 5G technology, the ascent of wireless technology, continuous technological advancements, and the adoption of wireless charging technology.
The surge in demand for smartphones is anticipated to drive the expansion of the mobile accessories market in the foreseeable future. A smartphone, a handheld electronic device that seamlessly integrates mobile telephone functions and personal computing capabilities, has become an essential gadget. Mobile accessories play a pivotal role in enhancing the functionality and user experience of smartphones by offering additional features, protection, and customization options. As of November 2023, Uswitch Limited, a UK-based financial conduct authority, reported a notable growth of 3.8% in mobile connections in the UK compared to 2021, reaching 71.8 million connections. Projections suggest that by 2025, with an estimated 95% of the UK population owning smartphones (around 65 million individuals), the increasing demand for smartphones will be a key driver for the growth of the mobile accessories market.
The burgeoning e-commerce industry is poised to propel the expansion of the mobile accessories market in the coming years. E-commerce, encompassing the online buying and selling of goods and services, has emerged as a significant factor in shaping consumer trends. E-commerce platforms offer access to an extensive array of mobile accessories from various brands and retailers, often at competitive prices, enabling convenient comparison and shopping from the comfort of one's home. For example, in October 2023, according to the Boston Consulting Group Inc., a US-based management consulting firm, e-commerce sales in Europe witnessed a 3% increase, while in the US and Asia, there was a 7% increase in 2022. Furthermore, the global annual growth in e-commerce is anticipated to rise by 9% by 2027. Consequently, the growing e-commerce industry is expected to be a driving force behind the continued growth of the mobile accessories market.
Prevalence of counterfeit products is anticipated to impede the growth of the mobile accessories market. The extensive availability of counterfeit mobile accessories, encompassing chargers, cables, and protective cases, presents considerable challenges for both consumers and legitimate manufacturers. These fraudulent products often lack the quality, functionality, and safety standards adhered to by genuine accessories, thereby compromising the overall user experience and satisfaction. Notably, in 2021, Customs Malta, a European government agency, documented 866,702 cases of counterfeit mobile accessories, with a retail value reaching $24,038,000 (€21,667,550). Consequently, the widespread existence of counterfeit products stands as a significant factor restraining the expansion of the mobile accessories market.
Major companies operating in the mobile accessories sector are increasingly emphasizing the introduction of eco-friendly products. Eco-friendly mobile accessories are designed and manufactured with a focus on environmental sustainability, utilizing materials and production processes that minimize ecological impact. For example, in August 2023, Samsung Electronics Co. Ltd., a South Korea-based appliances company, launched the Samsung Eco-Friends lineup. This lineup, designed with eco-conscious values and unique designs, features accessories made from recycled materials for various Samsung products, including the Galaxy Z Flip5, Z Fold5, Tab S9, Watch6, Buds2 Pro, and the Freestyle portable projector. The lineup includes collaborations with popular brands and artists such as TOILETPAPER, Keith Haring, Disney, Marvel, and more.
In November 2021, Lava International, an India-based technology company, acquired China Bird Centro America S.A. (B-Mobile Group) for $50 million. This acquisition provides Lava with access to an established market and consumer base in Latin American countries. China Bird Centro America S.A. (B-Mobile Group) is a US-based company specializing in providing feature phones, smartphones, and other wireless devices.
Major companies operating in the mobile accessories market report are Apple Inc., Google LLC, Samsung Electronics Co.Ltd., Huawei Technologies Co. Ltd., Sony corporation, Panasonic corporation, JBL, Western Digital Corporation, ASUSTeK Computer Inc., Emerson Electric Co, Signify Holding, Harman International, Logitech International S.A, Bose corporation, Anker Innovations Co. Ltd., Plantronics Inc., Sennheiser Electronics GMBH & Co. KG, Belkin International Inc., Skullcandy, HTC Corporation, Aukey, PopSockets, Incipio Group, Kenwood corp., X-Doria, Groovemade, Spigen Inc., OtterBox, TCL Communication, UE Boom
North America was the largest region in the mobile accessories market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mobile accessories market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the mobile accessories market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The mobile accessories market consists of sales of protective cases and screen protectors, cables, audio accessories, car mounts, and holders, styluses, and camera accessories. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Mobile Accessories Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on mobile accessories market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for mobile accessories ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The mobile accessories market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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