Press release
Mobile Phone Accessories Market Demand for Accessories that are usually not Sold along with Smartphones
The demand for chargers and headphone/earphones is also anticipated to significantly increase in the coming years. It has been observed that accessories such as chargers and headphone/earphones are usually supplied by original equipment manufacturers (OEMs).
As modern-day smartphone batteries are unable to endure heavy usage, the demand for power banks is expected to increase rapidly.
The global mobile phone accessories market operates through a number of distribution channels such as online stores, single-brand stores, and multi-brand stores.
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With the introduction of e-commerce, online stores are being preferred by consumers over single-brand and multi-brand stores. As a result, brick-and-mortar distribution stores are projected to experience a dip in their revenue in the near future.
In terms of price, mobile phone accessories have been segmented into premium, mid-, and low-range price categories. Consumers usually prefer mid-range-priced mobile phone accessories.
Mobile phone accessories complement the features, performance, and maintenance of mobile handsets. Technological innovations and the need for the effective maintenance of mobile phones have propelled the growth of the global mobile phone accessories market.
The market is highly dynamic due to frequent product launches introducing new features. The compatibility and interchangeability of mobile phone accessories let consumers choose from a wide range of product offerings. The growing demand for mobile phone accessories and high profit margins of products has led many established players in the mobile handset market to launch their own accessories.
The presence of a large number of multinational as well as regional brands has boosted the growth of the global mobile phone accessories market. Compared to multinational brands, regional players in the market offer fewer mobile accessories to keep their prices competitive.
As a result, the majority of customers buy mobile accessories from local stores or from online stores. In the coming years, the global mobile phone accessories market is expected to be dominated by local manufacturers due to their low production costs and competitive pricing.
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