The global mobile accessories market Forecast size is predicted to touch USD 6,780.6 million by 2025, as per the latest report by Market Research Future (MRFR). It can exhibit a remarkable CAGR over the forecast period (2020-2027). Mobile accessories are add-ons that accentuate the appearance of portable devices and reflect the style of the user. They are being sold in high number owing to the proliferation of online channels and expendable income levels of users. The COVID-19 outbreak and its impact on the market is covered in great detail.
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Market Scope
The global Mobile Accessories Market Forecast can reach USD 6,780.86 million by 2025. It can display 8.09% CAGR over the forecast period.
The market is expected to experience heavy demand due to purchase of mobile phones. The hybrid work model practiced by modern consumers and the need for prompt action by corporations to cater to clients has led to a flurry of sales. Identification of right demographics due to spending levels can prove to be lucrative for manufacturers in the long run. Developments in power banks and increase in charging capacity has garnered heavy interest among multiple device users.
COVID-19 Impact
The COVID-19 pandemic did have an effect on the market in 2020 due to the pandemic restricting sale and transport of accessories. But the relaxation of norms and opening of consumer electronic shops can resurge sales of the market.
Segmentation
By price range, the market has been segmented as low, medium, and premium. The medium segment is expected to dominate the market; while the low segment is expected to register the highest CAGR during the forecast period. The medium price range segment provides technologically advanced mobile accessories. Increasing purchase of smartphones due to rise in spending levels can bode well for the market. Procurement of wireless headphones and speakers will favor the segment.
By distribution channel, the market has been divided into online and offline segments. The offline segment is expected to dominate the market with higher market share; while the online segment is expected to achieve the highest CAGR during the forecast period. The higher growth of the online segment is due to the increased share in the E-commerce market. Sellers on online marketplaces can reach a large number of customers due to the penetration of the internet and changing attitudes of customers.
Competitive Analysis
JVC Kenwood Corp., HTC Corporation, ASUSTeK Computer Inc., Panasonic Corporation, Otter Products, LLC, TCL Communication, Huawei Technologies Co., Ltd., Apple Inc., Griffin Technology, Lenovo Group Limited, Sennheiser Electronics GmbH & Co. KG, Sony Corporation, Plantronics, Inc., Samsung Electronics Co., Ltd., and Bose Corporation are key players in the global mobile accessories market. Development of new products is the primary strategy of players to gain the competitive edge.
Regional Analysis
APAC is expected to dominate the global Cell Phone Accessories market owing to China and production facilities in the country. Development of accessories made from other than plastic at economical rates can drive the market demand. Huge number of smartphone users and disposable income levels can bode well for the market. Demand for protective and wireless accessories is likely to create new opportunities.
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Global Mobile Accessories Market Report: Information by Price Range (Premium, Medium, and Low), by Product (Headphone, Protective Cases, Power Bank, Portable Speaker, and Others), by Distribution Channel (Online and Offline), and by Region (North America, Europe, Asia-Pacific, and the Middle East & Africa)— Forecast till 2025OverviewThe global mobile accessories market has seen a rapid surge in the past few years.
The adoption of new technologies like super-fast chargers, portable chargers, power banks, wireless chargers and headphones has been growing as a result, the demand for these gadgets has risen tenfold.The new research report about the global Mobile Accessories Market published by Market Research Future (MRFR) figures hike for this market at 6% CAGR between 2016 and 2022.
In terms of monetary value, the market can be worth USD 104 bn by the end of the forecast period.Portable mobile accessories have a massive demand owing to their efficiency in providing convenient options to the consumer, such as wireless connectivity, protection of the gadget, and ‘hands-free’ features, among others.The growing popularity of e-commerce due to the ease of product availability, affordability and delivery, and the efficient product supply chain is likely to result in significant growth in the market.Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/1908Key PlayersThe prominent players in the market of Mobile Accessories are- Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan), Panasonic Corporation (Japan), Apple Inc. (U.S.), JVC Kenwood Corp. (Japan), Plantronics, Inc. (U.S.), Bose Corporation (U.S.), Griffin Technology (U.S.), Otter Products, LLC (U.S.), Sennheiser Electronics GmbH & Co. KG (Germany) among others.Market Segmentation:The mobile accessories market is segmented by products, distribution channel, price, and region.
By products, the market is segmented into headphones/earphones, protective cases, power banks, and portable speakers, among others.
The market is segmented by region into North America, Europe, Asia Pacific, and the rest of the world.Portable speakers, power banks, and wireless earphones and headphones have the highest revenue generation among the product segments of the market.Regional Analysis:Asia Pacific leads the global mobile accessories market with the highest market share.
Emerging economies like China and India have a massive surplus demand for smartphones and cater to the rising demand for mobile accessories.
