Market Segmentation
The rate of smartphone penetration over the world has steadily risen over the past decade and is expected to gain momentum in the foreseeable future. In terms of smartphone users, China, India, the U.S., Brazil, Russia, Indonesia, Japan, Mexico, Germany, and the U.K. are the leading nations in the world. Thus, these countries are undeniably thriving in smartphone markets, given the rapidly increasing number of mobile phone users in them.
The increasing affordability of smartphones about income levels continue to upsurge ownership, especially in emerging markets. In the last decade, the prices of smartphones have dropped significantly in Asia, Latin America, the Caribbean, and Africa, as illustrated in the figure below. The average prices of smartphones range between USD 100 - 200 in many emerging markets. The decrease in smartphone prices has enhanced the affordability of the product and hence, increased its penetration in developing countries.
E-commerce retail channels play a significant role in the distribution of mobile phone protective covers as a considerable amount of market revenue is generated through these. Online sales channels make it easy for consumers to browse through millions of products without having to physically visit retail stores.
E-commerce retail sales are expected to witness substantial gains in the coming years on account of rising consumer spending, growing population, and increasing access to the Internet. In addition, the availability of safe & convenient payment gateways and the introduction of mobile shopping apps are expected to contribute to the growth of the online retail industry. Moreover, social media apps such as Pinterest and Instagram significantly influence the trends in mobile phone protective covers.
Over the years, trade disruptions in the smartphone space have had a ripple effect on the mobile phone protective cover market. The U.S.-China trade war is an ongoing economic conflict between two of the world’s largest economies—the U.S. and China. The trade war began in August 2018 when Donald Trump, President of the U.S., set tariffs on China in a bid to encourage domestic production of a wide range of goods. Apple Inc. generates about 17.5% of its overall iPhone sales from China.
The company has, thus, started to view the growing gridlock in the trade war as a potential threat to the smartphone industry. In line with this, in May 2019, the U.S. Department of Commerce’s Bureau of Industry and Security added Huawei, an Asia-based consumer electronics and telecommunications company, along with 70 of its affiliates, to its trade blacklist. From a mobile phone protective cover manufacturing perspective, such trade wars can limit the demand for protective covers owing to the reduced sale of smartphones within the U.S.
This section will provide insights into the contents included in this mobile phone protective cover market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
Company overview
Financial performance
Product benchmarking
Latest strategic developments
Market size, estimates, and forecast from 2017 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance