MOBILE PHONE ACCESSORIES MARKET ANALYSIS

Mobile Phone Accessories Market Size and Trends

Global mobile phone accessories market is estimated to be valued at US$ 108.23 Bn in 2024 and is expected to reach US$ 172.03 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.8% from 2024 to 2031.

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The widespread adoption of smartphones around the world boosts demand for mobile phone accessories such as protective cases, screens, and power banks.

Market Driver - Growing prevalence of online shopping

With the proliferation of internet and smartphones, online shopping witnessed tremendous growth globally. Various factors like convenience, huge product selection, easy price and product comparisons, cashback offers, and doorstep delivery have made online shopping increasingly popular among consumers. People can now easily browse through a huge range of phone cases, chargers, headphones, screen guards, power banks and other accessories online from the comfort of their homes and get them delivered within a few days.

Online retailers have made shopping for phone accessories much more convenient as compared to physical retail stores. Customers can find a huge variety of options from different brands, styles, designs, prices and materials within a few clicks. People no longer have to visit multiple brick-and-mortar stores wasting time and effort to find the perfect accessory that meets their requirements. Product reviews and ratings by other customers help them in selecting the right product. Accessories from niche brands also reach a wider audience through online channels. The trend of mobile shopping and frequent online discount offerings have made people buy phone accessories much more frequently now for a good bargain.

Market Concentration and Competitive Landscape

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Increasing preference for protective cases and covers

With new smartphones becoming larger in size, thinner and costlier, people have become much more concerned about protecting their devices from accidental drops, bumps and scratches. While earlier basic phone pouches or slim covers were adequate, rising phone prices and importance given to looks has led to increased demand for tough, rugged and stylish phone cases and screen guards. Varied lifestyles and work profiles require phones to be carried around frequently, thus, making them prone to damage. With many people using their phones for long hours daily and taking pictures frequently, preserving the phone body has become a priority.

Phone cases offer comprehensive protection through multiple layers while enhancing aesthetic appeal. Materials range from thermoplastic polyurethane to shock-absorbing gel and even ballistic nylon depending on usage. Stylish cases in diverse colors and funky designs allow users to showcase their personality as well. Screen guards with scratch resistance coatings provide defense against scratches from sharp objects during daily operation without obscuring visibility. Transparent flip cover designs serve the dual purpose of protecting displays and cameras from dirt and damage as well as allowing hands free video calling functions. Such utility-focused customizations boosts sales of protective casings and films.

Key Takeaways from Analyst:

Global mobile phone accessories market growth is driven by increasing adoption of smartphone worldwide. Rising disposable incomes and innovative financing options have made premium smartphones more affordable, thus, driving phone upgrades. As users upgrade devices more frequently, there will be huge need and demand for compatible accessories like charges, earphones, protective cases, and power banks.

Accessories constitute an important aftermarket opportunity for OEMs to enhance their smartphone experience and consequently, increase user stickiness to their brand.

While low-cost alternatives from local and unknown brands pose competition, established giants like Samsung, Apple, and Xiaomihave clear brand advantages in the premium accessories. Their users typically choose authentic accessories for optimal compatibility and performance. T Bundling of low-end accessories with new phones can offer growth opportunities. Laptop lifestyle and long commute trends boost demand for battery packs and earphones.

Weaker global economic growth could pinch discretionary spending on accessories in some markets. Some OEMs are increasingly integrating better cameras, batteries and other features into devices, reducing reliance on accessories over time if this trend accelerates.

Market Challenge - Economic downturns and consumer spending cuts

Global mobile phone accessories market growth can be hampered due to economic downturns experienced worldwide in the past. The ongoing trade tensions and rising global uncertainty have impacted consumer spending on non-essential products. As mobile phone accessories are considered non-essential products by consumers, their spending on accessories such as phone cases, chargers, and earphones have declined substantially. The slowdown in the global economy has caused job losses or salary cuts for many consumers. This has reduced their disposable income available to spend on mobile accessories. Many consumers are now postponing the purchase of accessories and focusing more on essential spending. The market players need to closely monitor the macroeconomic conditions and consumer behavior changes. Appropriate pricing and promotion strategies need to implemented to boost sales during inflationary periods or economic uncertainties when consumers tend to spend less on accessories.

Opportunity- Integration of Advanced Technologies Such as AI and VR for Growth

The integration of advanced technologies provides a huge opportunity for global mobile phone accessories market growth. Mobile accessory manufacturers can embed technologies like artificial intelligence and virtual reality into their products. For instance, VR headsets allows users to experience virtual world simulations and gaming on their phones. AI-powered chargers and earphones can also analyze user behavior and customize functionality. Integrating such cutting-edge technologies can enhance the user experience with mobile accessories. This will attract more consumers and help companies gain a competitive advantage. Technology differentiation is the key for market players during periods of slow growth. Focusing on innovation through advancement can offer new revenue streams and helps drive sales volumes.

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Insights By Product Type- Ongoing Technological Advancements Drive Chargers and Power Banks Segment

In terms of product type, chargers and power banks segment is expected to contribute the 33.7% market share in 2024, owing to continuous technological advancements in the mobile phone industry. Rapid evolution of fast charging technologies and quick charging capabilities in newer phone models has boosted demand for high-powered chargers and multifunctional power banks. Charger and power bank manufacturers are also innovating their product portfolios to accommodate multiple connection types like Type-C and wireless charging. This ability to charge diverse range of newer as well as older phone models universally through the same accessory drives sales. Widespread 5G network rollouts and subsequent proliferation of 5G-enabled smartphones can boost innovations in superfast charging solutions, thus, driving the chargers and power banks segment.

Insights By Distribution Channel- Convenience and Value Drive Online Segment

In terms of distribution channel, online segment is expected to contribute the 54.6% market share in 2024 owing to convenience and competitive pricing offered through this sales channel. Time-strapped consumers find online shopping to be more convenient than visiting physical stores as it saves them time spent on commuting as well as enables hassle-free purchases from the comfort of their homes and delivered right at their doorsteps. Online retailers leverage effective marketing and competitive pricing strategies to draw greater number of customers. This has boosted sales volumes through the online channel. Consumers can conveniently compare various models and make informed purchase decisions by reading product details and reviews online. Wide array of replacement parts and accessories unavailable in local stores are also easily accessible through online platforms. The trend of surging online shopping and e-commerce is can drive the online segment growth.

Insights By End User- Insatiable Appetite for Smartphones Fuels Smartphone Users Segment

In terms of end user, smartphone users segment is expected to contribute the 81.5% market share in 2024, owing to their insatiable appetite for latest smartphone models and technologies. As smartphones become an intrinsic part of modern lifestyles enabling communication, productivity, entertainment and more, consumers are actively seeking out replacement devices with better features and specifications in short replacement cycles. This consistent upgrade cycle among amateur as well as enthusiast smartphone users boosts demand for relevant accessories with every new phone purchase. Furthermore, rising number of smartphone users globally, especially in developing markets, expands the potential customer base. Accelerating smartphone penetration coupled with strengthening consumption patterns of the growing middle class can drive the smartphone users segment growth.

Regional Insights

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North America region dominates the global mobile phone accessories market, owing to strong industry presence in the region. Countries in North America have emerged as manufacturing hubs for mobile devices and accessories. Established electronics and component manufacturing base along with availability of cheap labor has attracted several global brands to set up manufacturing facilities in these countries. This has made Asia Pacific the largest exporter of mobile phone accessories globally.

With nearly 60% of the world's population, the mobile phone user base in the region. This provides significant scale and opportunities for accessories manufacturers. However, pricing pressure from local manufacturers is quite strong due to price-sensitive nature of the regional market. This has led many global brands to focus on value added accessories with premium design and features.

The Asia Pacific region has emerged as the fastest growing market for mobile phone accessories Economic growth and rising disposable incomes in the Gulf countries as well as Africa have boosted sales of mobile devices and related accessories. The easy availability of low cost Chinese imports through distributors has made accessories more affordable. Ubiquity of 3G and 4G networks enable new use cases and boosts demand for charging solutions, data cables, Bluetooth headsets and mobile sleeves and covers.

Countries like South Africa, Nigeria, Saudi Arabia and UAE are witnessing strong growth in mobile phone adoption. This drives the mobile phone accessories market as new users look to purchase additional accessories along with their devices. Furthermore, vendors are introducing localized products tailored to the requirements of price conscious consumers in African countries. Growing e-commerce industry can open new online sales channels for global and local accessories brands looking to tap into the fast growing regional market. Combination of economic growth, technology penetration and infrastructure development can propel Middle East and Africa as an exciting frontier market for mobile phone accessories.

Market Report Scope

Mobile Phone Accessories Industry News

• In October 2022, Google LLC, a leading technology company that is known for its search engine and innovative products, launched its new Pixel 7 and Pixel 7 Pro smartphones, along with the Tensor G2 chip and the Pixel Watch, during the Made by Google event in New York. The Pixel 7 and Pixel 7 Pro feature a redesigned rear camera, a polished aluminum finish, and an aluminum camera bar, enhancing both aesthetics and functionality.
• In April 2022, Samsung Electronics Co., Ltd., a global leader in consumer electronics and mobile communications, announced a partnership with plant-based designer Sean Wotherspoon to launch the Samsung Galaxy x Sean Wotherspoon Sustainable Accessories Collection. This eco-friendly line features smartphone cases for the Galaxy S21 and watch accessories for the Galaxy Watch4 series, all sourced sustainably using 100% recycled and biodegradable materials such as non-toxic TPU. The collection, which includes three matching styles - Orchid, Dawn, and Rain - aims to promote sustainability and raise awareness of the environmental impact of consumer products, aligning with Samsung's broader Galaxy for the Planet initiative to reduce its carbon footprint across mobile products by 2025.
• In February 2022, Belkin International Inc., a leading provider of consumer electronics accessories, launched a new line of connectivity products featuring Intel’s Thunderbolt 4 controller. This lineup includes the Thunderbolt 4 cable and the CONNECT Pro Thunderbolt 4 Dock, which offers capabilities such as dual display support for content up to 4K at 60Hz, fast charging, and more, enhancing user experience and productivity.
• In December 2021, Nothing, a U.K.-based consumer tech company founded by OnePlus co-founder Mr. Carl Pei, introduced a new black variant of its popular ear (1) true wireless earbuds. The company also announced that the entire ear (1) product line, including all units shipped since launch, has achieved carbon neutrality through offsetting emissions and using renewable energy certificates. 

*Definition: The global mobile phone accessories market consists of products that are used with mobile/cell phones to enhance their functionality and appearance. This includes protective phone cases, screen protectors, headphones, power banks, wired and wireless chargers, memory card readers, selfie sticks, Bluetooth devices and other related equipment.

Market Segmentation

•  Product Type Insights (Revenue, US$ Bn, 2019 - 2031)
• • Chargers and Power Banks
  • Headphones and Earphones
  • Cases and Covers
  • Screen Protectors
  • Others
•  Distribution Channel Insights (Revenue, US$ Bn, 2019 - 2031)
• • Online
  • Offline (Retail Stores)
•  End User Insights (Revenue, US$ Bn, 2019 - 2031)
• • Smartphone Users
  • Tablet Users
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
• • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • Aukey
  • Belkin International Inc.
  • Bose Corporation
  • Google (Alphabet Inc.)
  • Huawei Technologies Co. Ltd.
  • Incipio
  • Jabra (GN Audio)
  • LG Electronics
  • Luxshare Precision
  • MI (Xiaomi Corporation)
  • Panasonic
  • Philips
  • PISEN
  • Samsung Electronics
  • Sony Corporation