Mobile Accessories Market Size, Share & Trends Analysis Report By Product Type (Earphone/Headphone, Protective Cases), By Distribution Channel, By Region, And Segment Forecasts, 2019 - 2025

Report Overview

The global mobile accessories market size was valued at USD 68.4 billion in 2018 and is expected to expand at a CAGR of 7.1% over the forecast period. Increasing demand for smartphones as they are the effective means of communication around the globe is expected to drive the market in the forecast period.

Furthermore, increasing demand for wireless devices, coupled with frequent change in the technologies, is driving the market in the near future. For instance, companies are coming up with the latest technologies such as wireless headsets and speakers. This has boosted the market demand for the industry in the recent times. Furthermore, increasing adoption of smartphones among teenagers has increased the demand for certain accessories such as mobile covers and headphones as they keep themselves updated with the changing technologies in the market.

Growing young working population has also fueled the market growth to a great extent in the recent times. Changing outlook of the consumer group has also influenced the market growth. The women consumer group prefers to change their phone covers frequently, which in turn, impacts the overall market growth. On the other hand, the men consumer group prefers to change other accessories such as headphones and fast-chargers.

The fact that the products make the usage of mobile phone simpler and smooth, thereby making it popular among the consumers. For instance, introduction of smartwatches has made it simpler to see the notification and calls without taking out the phone from the pocket. Innovation of power bank has made it simpler for the consumers who use smartphones extensively and has to travel frequently.

Increasing quality and features of the smartphones with decreasing prices has led to an increase in the number of consumers for the product, which eventually increases the demand for safety and security of the phones. The consumer in the modern times don’t bother to go an extra mile to keep their phone safe, trendy, and vogue. Increasing internet penetration, coupled with artificial intelligence incorporated by the online retailers that gives pop-up notification to the users about the product, is also a prominent factor for the market growth.

Mobile Accessories Market Trends

The availability of strong distribution network, such as online sellers of mobile phones and accessories and multi-brand stores, along with the decrease in selling price are expected to accelerate the expansion of market during the forecast period.

The demand has also increased with the increase in internet usage and availability of various products along with quick technological advancements, like Bluetooth NFC speakers, noise-cancelation technology, and built-in fans and lights in selfie sticks.

Consumers have become reliant on mobile phone accessories, and they are ready to spend any amount on the advanced features. Smartphone prices have reduced, which has boosted sales. Some companies have developed advanced technology to transform these accessories into digital audio equipment and computers.

However, Tariffs on imports and exports imposed by leading manufacturing countries, on the other hand, result in considerable changes in the global technical environment. Future market uncertainties limit companies' ability to invest and slow their development.

Distribution Channel Insights

The offline segment dominated the mobile accessories market and accounted for 69.9% share of the overall revenue. Increasing demand for the costly devices such as smartwatch and mobile camera lens and perception of issues with the delivery of fragile items are propelling the segment growth. Traditional method of shopping and difference in price in local retail outlets and other wholesale markets are the reasons for the segment growth.

The online segment is anticipated to expand at a CAGR of 7.9% over the forecast period. Increasing internet penetration in rural areas, faster and trusted delivery by various online portals, and replacement options are driving the segment. Moreover, the young working consumer groups with hectic schedule prefer to buy online rather than offline due to easy access and doorstep service. These are the prominent factors boosting the market growth in the stipulated time frame.

Product Type Insight

On the basis of product type, the market is segmented into earphones and headphones, charger, power bank, and protective cases. The protective cases segment accounted for a leading share of 31.3% in 2018 and is expected to witness significant growth in the near future. Increasing demand for cases due to frequent change in the product in the female consumer group is anticipated to drive the market. Furthermore, innovation in the material type compatibility of the cases with certain smartphones, such as apple, prefer special kind of cases to highlight the logo at its back is propelling the market growth in the forecast period.

The headphone segment is expected to register a CAGR of 7.6% during the forecast period. One of the most developing trends in the mobile industry at present is growing sophistication of headphones, which is also fueling the market growth for unconditional connectors such as type-c USB Ports cables. Growing fitness consciousness among the young population has driven the demand for sports and fitness headphones in the recent times. Popularity of cheap headphones has increased among the economical consumer group due to rise in travelling trends standalone.

Regional Insights

In 2018, Asia Pacific led the market with a share of 45.0% and is anticipated to witness significant growth in the near future. In Asia Pacific, China contributed to the majority of share and accounted for 55.0% share of the overall revenue in 2018. High usage of different types of mobile accessories, innovation of different products at lower rates, and China being the leader of the mobile phone industry are the prominent factors for market growth in the region.

Middle East and Africa is the fastest growing region due to high demand from the developing countries such as UAE and Saudi Arabia. Changing lifestyle and increasing disposable income are expected to drive the market in the forecast period. Moreover, increasing demand for smartphones in the region is driving the market for the accessories. For instance, one of the surveys has shown that the market for smartphones in MEA has increased by 4 million in number of units in 2018.

Key Companies & Market Share Insights

The market presents moderate to low entry barriers due to presence of a large number of unstructured dealers in the market. The market is further driven by innovation in technology, mergers and acquisitions, and joint ventures.

For instance, one plus brand comes with fast chargers compatible with their phones. Afterward, the manufacturer of such devices has come up with chargers that are compatible with all the devices and charge the device fast. The companies also spend a huge chunk of their revenue on research and development as the industry witness frequent changes in the technologies. In order to gain a competitive edge, the market players need to understand the need of the product among the consumers.

Recent Developments

• In July 2021, OnePlus launched its first adaptive noise reduction (ANC) headphones to deliver a premium and truly immersive audio experience, the new premium true wireless headphones offer an industry-leading smart noise reduction system, higher voice quality, extended battery performance, and a more customized sound.

• In December 2021, Nothing has introduced a new black model of its sold-out initial gadget, with the name ear (1) carbon neutrality. The company will also start accepting the payments through cryptocurrencies in few countries through nothing.

• In February 2022, Belkin releases its brand new line of connectivity products based on Intel’s Thunderbolt 4 controller; the Thunderbolt 4 cable and the CONNECT Pro Thunderbolt 4 Dock and provides features such as dual display compatibility for content up to 4K at 60Hz, quick charging, and more.

Some prominent players in the industry include:

• Google

• Samsung

• Apple

• Harman International Inc.

• Belkin International Co.

• Aukey

• Groovemade Walnut

• Anket Powercore

• UE Boom

Mobile Accessories Market Report Scope

Global Mobile Accessories Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global mobile accessories market report on the basis of product type, distribution channel, and region:

• Product Type Outlook (Revenue, USD Billion, 2015 - 2025)

  • Earphones/Headphone

  • Charger

  • Power Bank

  • Protective Cases

  • Others

• Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)

  • Online

  • Offline

• Regional Outlook (Revenue, USD Billion, 2015 - 2025)

  • North America

    • U.S.

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • India

  • Middle East & Africa

    • Saudi Arabia

  • Central & South America

    • Brazil