"Rising penetration of high end smart phones expected to increase demand for screen protectors"
The global smartphone screen protector market size was USD 31.13 billion in 2015 and is expected to witness significant growth over the forecast period primarily owing to increasing concerns regarding the safety of high end smartphones. Rising demand for the product owing to significant technological advancements is anticipated to drive growth. In addition, the market is expected to benefit from the declining price of the product owing to lowered manufacturing cost of the screen protectors.
The industry is characterized by an abundance of raw materials such as tempered glass, PET, and TPU which translates into low manufacturing cost. In addition, the market exhibits high operating margins that enable the distributors to provide exorbitant discounts and price reductions to attract the customers. Furthermore, limited entry barriers such as low set-up cost is expected to drive the growth over the projection period.
Growing demand for refurbished and pre-used smartphones owing to reduced cost is expected to drive the demand over the projected period. In addition, growing product design innovations such as the introduction of 2.5D and 3D screen protectors that enhance the user experience, are expected to translate into market growth.
U.S. smartphone screen protector market revenue, by application, 2013 - 2024 (USD Million)
"Smartphones exceeding USD 550 expected to gain share resulting in increased demand for screen protectors"
The demand for screen protectors is expected to be driven by the increasing use of protective smartphone accessories by the consumer of smartphones in the USD 550 to USD 700 price segment. The introduction of low price premium technology smartphones primarily in the developing economies such as India, China and Brazil is expected to drive growth over the forecast period. In addition, declining price of the tempered glass screen protectors is expected to translate into increased demand for such protectors by the consumers.
Increasing demand for low price smartphones in the price range USD 250-450 is expected to translate into demand growth. Also, increasing disposable income of the medium group consumers is expected to drive the demand for protective smartphone accessories over the forecast period. Furthermore, the industry is characterized by a growing demand for TPU based screen protectors owing to the significant low product price.
"Reducing prices coupled with robust functionality is a key factor promoting demand for tempered glass screen protectors"
Tempered glass is expected to witness significant growth owing to better functional performance and reduced material prices. The market is segmented by material into the tempered glass, polyethylene terephthalate, thermoplastic polyurethane. The demand for TPU based screen protectors is expected to decline owing to limited protection against high impact drops. In addition, rising substitution of the TPU based screen protectors by tempered glass protectors is expected result in a decline in the demand for the product.
The demand for PET screen protectors is expected to witness a significant decline over the forecast period owing to limited resistance against damage caused by scratches and high impact damages. In addition, low-grade adhesive properties of the product resulted in the need for frequent change of the screen protector. Furthermore, easier discoloration of the PET screen protectors coupled with concerns regarding damage to screen coatings is expected act as a major restraint for market growth.
"High production volume of screen protectors resulting in low sale price is expected to result in Asia Pacific dominating screen protector market"
Asia Pacific accounted for over 52% of the global market volume in 2015 owing to the significant demand for smartphones. In addition, growing demand for low-cost premium technology smartphones is expected to drive the demand for smartphones over the forecast period. Increasing disposable income coupled with growing preference for smartphones is expected to translate into market growth. Furthermore, growing urbanization in the developing economies such as India and China, coupled with growing adoption of e-commerce industry is expected to translate into an improved distribution network is expected to drive the demand for the product over the forecast period. The increasing availability of the raw material coupled with the presence of a large number of manufacturers is expected to reduce the product price, resulting in an increase in market share over the projected period.
The market in Europe is expected witness sluggish growth owing to the limited demand for new smartphones. In addition, the market is driven by the presence of consumers with relatively higher disposable income. The industry is dominated by high demand for premium quality screen protectors for high price smartphones. Increasing demand for tempered glass screen protectors due to superior damage-resistant properties is expected to bolster growth over the forecast period.
"The screen protector market is highly fragmented owing to presence of small domestic manufacturers"
Key players in the industry include Zagg Inc., Belkin International Inc., Bodyguardz, intelliArmor, Free S Speed International Co. Ltd, Clarivue, Jiizii Glass, FeYong Digital Technology Limited. Corning Inc., and AZ Infolink Pvt. Ltd.
In February 2016, Zagg Inc. announced the acquisition of the Morphie, a U.S. based smartphone accessories manufacturer in a move to expand its market share and enhance its product portfolio. Through this acquisition, Zagg Inc. became the largest player in the U.S. smartphone accessories market.
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