The Global Mobile Phone Accessories Market Size collected USD 254.8 Billion in 2022 and is set to achieve a market size of USD 351.6 Billion in 2032 growing at a CAGR of 3.3% from 2023 to 2032.
Mobile Phone Accessories Market Report Statistics
Mobile phone accessories are gaining rapid demand from consumers owing to the rapid growth of the mobile phone industry. The demand for mobile phone accessories has seen an upward trend owing to the consumer demand for varied types of accessories for their mobile phones. Owing to the introduction of smartphones and aggressive research and development activities taken up in order to bring in new technologies in smartphones that would appeal to the younger generation have also stimulated the heavy demand for mobile phone accessories.
Rapid demand for smartphones among consumers, especially the younger generation is one of the major factors stimulating the demand for mobile phone accessories. Owing to the lucrative smartphone industry, many new manufacturers have introduced several smartphones at affordable prices to appeal to consumers across all income and age groups. This move has complemented the growth of the mobile phone accessories market as well since consumers across all income groups are able to purchase the accessories of their choice that would complement their phones. Due to this factor, local players are aggressively moving in to operate in this industry
Global Mobile Phone Accessories Market Dynamics
Mobile Phone Accessories Market Report Coverage
|Market||Mobile Phone Accessories Market|
|Mobile Phone Accessories Market Size 2022||USD 254.8 Billion|
|Mobile Phone Accessories Market Forecast 2032||USD 351.6 Billion|
|Mobile Phone Accessories Market CAGR During 2023 - 2032||3.3%|
|Mobile Phone Accessories Market Analysis Period||2020 - 2032|
|Mobile Phone Accessories Market Base Year||2022|
|Mobile Phone Accessories Market Forecast Data||2023 - 2032|
|Segments Covered||By Product Type, By Price Range, By Distribution Channel, By Sales Category, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Apple Inc., Bose Corporation, Belkin International Inc., Groove Made Walnut, Harman International Industries, Panasonic Corporation, Samsung Electronics, SanDisk, Sennheiser Electronics GmbH & Co. KG, and Sony Corporation.
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Covid-19 Analysis, Regulation Analysis|
Mobile Phone Accessories Market Growth Factors
The growth of the mobile phone accessories market is also complemented by the rising purchasing power of consumers. Aggressive promotional activities taken up by manufacturers of smartphones have driven the younger generation towards buying smartphones. Further, manufacturers operating in the smartphone industry and related industries have engaged themselves in manufacturing accessories that would complement the demand for smartphones such as earphones, wireless speakers, and wireless earphones among others. Thus, due to the high purchasing power of consumers, they look for varied types of accessories that would complement the overall look of the phone. Further, the advent of wireless technologies has also paved the way for the growth of the mobile phone accessories market. The demand for wireless earphones and headphones, chargers, and speakers among others has seen an upward trend and is expected to be the key driving factor for this market in near future. The market growth is supplemented by the wide distribution channel of these products. Accessories are available across several networks from local stores to online stores, which is another key factor driving the market growth at present. However, excessive use of headphones and earphones may result in low hearing disorder which is a key factor restraining the growth of the market at present. Technological advancement in the accessories and products is a potential growth opportunity for players operating in the mobile phone accessories market. The introduction of new features in smartphones would result in the introduction of new accessories that would complement those features.
Mobile Phone Accessories Market Segmentation
The worldwide mobile phone accessories market is categorized based on product type, price range, distribution channel, sales category, and geography.
Mobile Phone Accessories Market By Product Type
According to the mobile phone accessories market forecast, with significant consumer demand across the globe, the headphone/earphone segment has been one of the fastest-growing product categories in the mobile phone accessories market. As more consumers seek convenient and high-quality audio solutions for their mobile devices, the popularity of wireless headphones, particularly true wireless earbuds, has been a major driver of growth in this segment.
Other product categories such as protective cases, chargers, power banks, and portable speakers, on the other hand, continue to generate significant revenue and market share in the mobile phone accessories market. As consumer preferences and behaviors evolve, market dynamics are likely to shift, creating new opportunities for different product categories to emerge and dominate the market.
Mobile Phone Accessories Market By Price Range
Premium-priced products with premium features and materials also command a sizable market share, particularly among high-end consumers willing to pay a premium for quality and exclusivity. High-end headphones/earphones, luxury chargers and power banks, premium protective cases, and other accessories with premium features and designs are included in this category.
Products in the mid-price range provide a good balance of quality and affordability, making them popular among consumers looking to buy high-quality mobile phone accessories without breaking the bank. Products in this price range include power banks, protective cases, chargers, headphones/earphones, and portable speakers from both established brands and new and upcoming market players.
Low-cost products, which are often distinguished by their low cost and basic functionality, appeal to a large consumer base, particularly in emerging markets where price sensitivity is high. Products in this price range include basic protective cases, low-cost chargers, and other accessories that provide basic functionality and features at a low cost.
Mobile Phone Accessories Market By Distribution Channel
Online distribution has emerged as a dominant force in the mobile phone accessories market in recent years, particularly in developed markets. Increased smartphone and internet penetration, combined with the convenience and accessibility of online shopping, have resulted in an increase in online sales of mobile phone accessories. Online channels are popular among consumers because they provide a diverse range of products, competitive pricing, and the convenience of shopping from home.
Offline distribution channels such as retail stores, supermarkets, and hypermarkets, on the other hand, continue to play an important role in the mobile phone accessories market, especially in developing nations where online penetration is low.
Mobile Phone Accessories Market By Sales Category
Historically, established brands have led the mobile phone accessory market, particularly in developed markets. Established brands with a strong brand reputation and a loyal customer base, such as Apple, Samsung, Sony, and Bose, have helped them maintain a significant market share in the mobile phone accessories market. Established brands provide high-quality products, strong customer service, and brand recognition, all of which influence consumer purchasing decisions.
Third-party manufacturers, on the other hand, have grown in popularity in recent years, particularly in emerging markets with high price sensitivity. Third-party manufacturers provide a diverse range of products at competitive prices, allowing them to gain a sizable market share in the mobile phone accessories market.
Mobile Phone Accessories Market Regional Outlook
The Middle East & Africa
Mobile Phone Accessories Market Regional Analysis
Asia Pacific is the leading market for mobile phone accessories, owing to rising smartphone adoption and rising demand for low-cost accessories. China and India are Asia Pacific's largest markets, with a large consumer base and a rapidly expanding e-commerce ecosystem.
North America is a significant market for mobile phone accessories, driven by high smartphone penetration and rising demand for accessories such as headphones, protective cases, and chargers. The United States is North America's largest market, with a well-established e-commerce ecosystem and a fully advanced mobile phone accessories industry.
Europe is another substantial market for mobile phone accessories, driven by rising smartphone adoption and increased demand for high-quality accessories. The largest European markets, with established e-commerce ecosystems and highly developed mobile phone accessory industries, are the United Kingdom, Germany, and France.
Mobile Phone Accessories Market Players
Some of the global mobile phone accessories companies profiled in the report include Apple Inc., Belkin International Inc., Bose Corporation, Groove Made Walnut, Harman International Industries, Panasonic Corporation, Samsung Electronics, SanDisk, Sennheiser Electronics GmbH & Co. KG, and Sony Corporation.
The market size of mobile phone accessories was USD 254.8 Billion in 2022.
The CAGR of mobile phone accessories market is 3.3% during the analysis period of 2023 to 2032.
The key players operating in the global market are include Apple Inc., Belkin International Inc., Bose Corporation, Groove Made Walnut, Harman International Industries, Panasonic Corporation, Samsung Electronics, SanDisk, Sennheiser Electronics GmbH & Co. KG, and Sony Corporation.
Asia-Pacific held the dominating position in mobile phone accessories market during the analysis period of 2023 to 2032.
North America region exhibited fastest growing CAGR for mobile phone accessories market during the analysis period of 2023 to 2032.
The current trends and dynamics in the mobile phone accessories industry include increasing popularity of smartphones, growing demand for wireless accessories, and rising popularity of mobile gaming.
The headphone/earphone product type held the maximum share of the mobile phone accessories market.