Mobile Phone Accessories Market - Forecasts from 2024 to 2029

The mobile phone accessories market is estimated to grow at a CAGR of 6.89% during the forecast period.

Mobile phone accessories refer to additional hardware components that are not essential for the basic functioning of a mobile smartphone as originally intended by the manufacturer. These accessories serve the purpose of safeguarding the mobile device from potential damage and enhancing the overall user experience. They offer users the option to enhance and customize their mobile usage according to their preferences, rather than being obligatory components. Within this category, a variety of accessories cater to different needs and preferences. One of the primary mobile phone accessories is the case, which comes in various forms, including pouches, sleeves, holsters, shells, skins, fitted cases, smartwatches, bumpers, flip cases, and wallets. These cases are designed to provide protection and support to the smartphone, ensuring its safety from accidental drops, scratches, and other physical damages. Additionally, anti-loss devices play a significant role in helping users locate their smartphones using integrated technologies such as GPS and Bluetooth low-energy antennas. These devices, often resembling keychains, offer a practical solution for locating misplaced phones and preventing loss or theft. Moreover, phone charms serve a decorative purpose, allowing users to personalize their devices with visually appealing attachments that can be connected via a strap or inserted into the jack plug. While primarily serving an aesthetic function, these charms can also reflect the user's style and preferences. Furthermore, the category of mobile phone accessories includes mass storage options such as chargers, which have undergone extensive technological advancements. These innovations include wireless charging, fast charging, and portable chargers, providing users with efficient and convenient methods for ensuring uninterrupted usage of their mobile devices, especially in situations where power sources are limited.

Introduction:

The mobile phone accessories market is witnessing rapid growth primarily due to the increasing demand for complementary products that enhance mobile phone functionality and offer protection against various forms of damage. This growth is propelled by the surging popularity of smartphones, which serve as reliable gateways to the digital realm. The escalating consumer affinity for a diverse range of accessories has contributed significantly to the upward trajectory of this market. Among the most sought-after products are high-capacity batteries, state-of-the-art headphones, portable speakers that offer superior audio quality, efficient chargers for quick and convenient charging, expandable memory cards, portable power banks for on-the-go charging, sturdy protective cases, innovative battery cases, durable screen guards, and advanced wireless controllers for enhanced gaming experiences. The market landscape currently presents moderate to low entry barriers, primarily due to the presence of numerous unorganized dealers operating within the market. Moreover, the growing reliance on smartphones for both professional and personal tasks has led to a notable surge in the demand for an array of accessories. This trend is further augmented by the competitive pricing strategies employed by telecommunication operators, who offer cost-effective traditional accessories and internet packs, thereby fostering a substantial demand for mobile phone accessories, especially in developing nations.

Drivers:

• Rising popularity for smartphones:The burgeoning market for mobile phone accessories can be attributed to various factors, with the rising prevalence of smartphones being a key catalyst. Smartphones have become an indispensable part of modern life, providing users with seamless connectivity to the digital realm and offering a diverse array of functions ranging from communication and entertainment to productivity and beyond. This ubiquitous reliance on smartphones has fueled a parallel surge in the demand for an extensive range of mobile phone accessories, as consumers increasingly seek to enhance and customize their mobile phone experiences.
• Innovations in technology:Innovations in mobile phone accessories, such as noise-cancellation technology, are poised to significantly contribute to the expansion of the market during the forecast period. Noise-cancellation technology, through its sophisticated algorithms and advanced hardware integration, enables users to enjoy an immersive audio experience devoid of external disturbances, thereby catering to the rising demand for superior sound quality in various settings, including crowded public spaces and noisy environments. Additionally, the integration of Bluetooth and NFC speakers within the mobile phone accessory market is projected to play a pivotal role in driving market growth.
• Increased demand for wireless accessories:The surge in the mobile phone accessories market can be attributed to several factors, predominantly driven by the escalating demand for wireless accessories. With the rapid advancements in technology and the rising dependency on smartphones, customers are increasingly inclined towards preserving the longevity and functionality of their high-value devices. Consequently, there has been a notable uptick in the purchase of an extensive array of mobile phone accessories, ranging from protective cases and screen guards to power banks and wireless charging pads
• Competitive pricing:The competitive pricing for traditional accessories is a key driving force behind the increasing demand for mobile phone accessories in developing nations. With the availability of these accessories at affordable rates, a larger segment of the population can afford to enhance their mobile phone experience without straining their budgets. Moreover, the accessibility of competitively priced traditional accessories, such as protective cases, screen guards, chargers, and earphones, contributes significantly to the overall appeal of these products in emerging markets.
• Durability and user experience:In today's competitive market, customers are increasingly prioritizing quality, durability, and user experience when it comes to mobile phone accessories. As a result, there has been a notable surge in the sales of premium mobile phone accessories. Discerning consumers are no longer willing to compromise on the quality of the accessories they use, recognizing the crucial role these accessories play in enhancing their overall mobile experience.

Products offered by key companies:

• Belkinportable chargers allow you to charge your devices even when there is no access to a power outlet. Belkin offers a variety of portable chargers with different capacities,
• Aukeyoffers power banks with even higher capacities, such as the PB-N88 26800mAh power bank. This power bank has a capacity of 26800mAh, which is enough to fully charge most smartphones multiple times or a laptop multiple times.

Prominent growth in the mid-price range segment within the mobile phone accessories market:

The mid-price range segment within the mobile phone accessories market has experienced significant growth in recent years. As consumers seek high-quality mobile phone accessories that are affordable and provide value for money, the mid-price range segment has emerged as an appealing choice. Offering a balance between quality and affordability, it has garnered significant attention from cost-conscious consumers. With the rapid expansion of e-commerce channels, consumers now have easier access to a diverse array of mobile phone accessories, including those falling within the mid-price range segment. This enhanced accessibility has been a key factor contributing to the substantial growth observed within this market segment. The mid-price range segment caters to a broad spectrum of consumer needs, presenting a comprehensive selection of accessories such as chargers, power banks, headphones, and protective cases. This extensive product variety has empowered consumers to readily find the most suitable accessories for their specific requirements, further fueling the segment's growth. The upward trajectory of disposable income in various developing countries has generated a surge in demand for mobile phone accessories. Within this context, the mid-price range segment has emerged as a particularly attractive option for consumers seeking to enhance their mobile phone experience without having to make exorbitant financial commitments. The widespread proliferation and growing popularity of smartphones worldwide have precipitated an escalating demand for mobile phone accessories. Addressing the needs of an ever-expanding user base, the mid-price range segment has emerged as a critical player, catering to the requirements of smartphone users who prioritize affordability without compromising on quality or functionality.

The Asia Pacific region is expected to hold a significant share of the mobile phone accessories market:

The Asia Pacific region is expected to hold a significant share of the mobile phone accessories market due to several key factors. Firstly, the region boasts one of the highest implementation rates of mobile phones globally, leading to a consequential surge in demand for mobile phone accessories. This trend is particularly pronounced in prominent countries within the region, including China, India, Japan, South Korea, and Australia. These countries, characterized by their large populations and high mobile phone penetration rates, are driving the growth of the mobile phone accessories market in the Asia Pacific region. Moreover, the region has witnessed an upward trajectory in the disposable income of consumers, which has further accelerated the demand for mobile phone accessories, including power banks, chargers, and protective cases. As a result, there has been a notable expansion of e-commerce channels, facilitating easier access to a diverse array of mobile phone accessories, especially in the mid-price range segment, catering to the evolving needs of the tech-savvy consumer base. Additionally, the presence of favorable government policies in the Asia Pacific region has played a pivotal role in fostering the growth of the mobile phone accessories market. These policies have encouraged increased investments in the industry, providing a conducive environment for the development and proliferation of innovative and technologically advanced mobile phone accessories. Consequently, the confluence of these factors has positioned the Asia Pacific region as a significant hub for the mobile phone accessories market, driving its continued expansion and prominence within the global landscape.

Market developments:

• In February 2022, OPPO, a leading smartphone manufacturer, launched two new ultra-fast flash charging technologies: 150W SUPERVOOC and 240W SUPERVOOC. These technologies are powered by OPPO's proprietary battery health engine (BHE), which helps to maintain battery health even after repeated fast charging cycles.
• In October 2022, Google launched its new Pixel 7 and Pixel 7 Pro smartphones, featuring a redesigned camera bar on the back. The phones also have a polished aluminum finish and a new Tensor G2 chip.

Segments

By Product Type

• Headphone
• Charger
• Power Bank
• Protective Case
• Others

By Price Range

• Premium
• Mid
• Low

By Distribution Channel

• Online
• Offline

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Spain
• Others
• The Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Indonesia
• Thailand
• Others