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Mobile Phone Power Accessories Market Expected to Achieve 7.4% CAGR by 2029: Growth Forecast Insights
Mobile Phone Power Accessories Market Size
How Large Will the Mobile Phone Power Accessories Market Size By 2025?
In recent times, the market size of mobile phone power accessories has experienced significant growth. The market value is expected to rise from $37.48 billion in 2024 to $40.34 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.6%. The historic growth rate has been influenced by enhanced smartphone accessibility, advancements in technology, a rise in disposable income, the widespread adoption of e-commerce, and an increase in mobile usage.
How Big Is the Mobile Phone Power Accessories Market Size Expected to Grow by 2029?
Expectations are high for robust growth in the mobile phone power accessories market size in the upcoming years. The market is projected to expand to $53.63 billion by 2029, with a compound annual growth rate (CAGR) of 7.4%. Factors contributing to this growth over the forecast period include the introduction of 5G, a surge in mobile user numbers, technological advancements, sustainability movements, and the rise of IoT devices. Notable trends forecasted for this period are wireless charging, fast charging solutions, handy power banks, environmentally friendly products, versatile accessories, and intelligent power management.
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Which Key Market Drivers Powering Mobile Phone Power Accessories Market Expansion and Growth?
The upward trajectory in smartphone usage is set to fuel expansion in the mobile phone power accessories market. The motivators for increased smartphone usage are an improved user experience and the growing affordability due to aggressive pricing and financing schemes. Internet penetration and the increasing preference for online services also contribute to the smartphone surge. Power accessories for smartphones effectively prolong the battery duration, enabling daily usage without interruptions. For example, the UK-based Uswitch Limited, a financial conduct authority, reported in February 2024 that the UK saw a rise in mobile connections to 71.8 million, a 3.8% growth (or around 2.6 million additional connections) from 2021. The projections for 2025 indicate a UK population of 68.3 million, with 95% (roughly 65 million individuals) anticipated to own smartphones. Consequently, this uptick in smartphone usage is set to propel development in the mobile phone power accessories market.
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Which Fast-Growing Trends Are Poised to Disrupt the Mobile Phone Power Accessories Market?
Firms specializing in mobile phone power accessories are focusing on the development and launch of innovative solutions such as charging devices to boost their competitive stance in the market. Such charging devices are electronic peripherals that help in recharging the batteries used in a variety of devices including smartphones, tablet computers, and laptops. A demonstration of this trend is seen in the actions of Oppo, a consumer electronic organization based in China. They launched their 150W SUPERVOOC high-speed flash charging technology equipped with a Battery Health Engine, along with their 240W SUPERVOOC flash charge technology in February 2022. This 150W tech allows a 4,500mAh battery to reach 50% charge in 5 minutes and 100% in 15 minutes. Furthermore, the Battery Health Engine aids in prolonging the battery's lifespan. The 240W tech, on the other hand, is capable of fully charging a 4,500mAh battery in a mere span of 9 minutes, ensuring exceptionally swift charging speeds.
What Are the Emerging Segments in the Mobile Phone Power Accessories Market?
The mobile phone power accessories market covered in this report is segmented -
1) By Product Type: Power Banks, Wireless Chargers, Battery Cases, Portable Chargers
2) By Charging Capacity: Below 5,000 mAh, 5,000 to 10,000 mAh, Above 10,000 mAh
3) By Distribution Channel: Online Retail, Offline Retail
Subsegments:
1) By Power Banks: Standard Power Banks, Fast Charging Power Banks, Solar Power Banks
2) By Wireless Chargers: Qi Wireless Chargers, Fast Wireless Chargers, Multi-Device Wireless Chargers
3) By Battery Cases: iPhone Battery Cases, Samsung Battery Cases, Universal Battery Cases
4) By Portable Chargers: USB Portable Chargers, AC Portable Chargers, Car Portable Chargers
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Who Are the Global Leaders in the Mobile Phone Power Accessories Market?
Major companies operating in the mobile phone power accessories market are Apple Inc., Samsung Electronics Co. Ltd., Huawei Technologies Co. Ltd., Sony Corporation, Lenovo Group Limited, Panasonic Corporation, LG Electronics Inc., Xiaomi Corporation, Energizer Holdings Inc., Anker Innovations Technology Co. Ltd., OnePlus Technology Co. Ltd., Realme, ZAGG Inc, Belkin International Inc., Spigen Inc, Scosche Industries Inc., AUKEY Official, Baseus, Ambrane India Pvt. Ltd., RAVPower Technology Co. Ltd., iOttie Inc., Satechi Corporation, Griffin Technology, America Ugreen Limited, Power Practical LLC
Which are the Top Profitable Regional Markets for the Mobile Phone Power Accessories Industry?
Asia-Pacific was the largest region in the mobile phone power accessories market in 2024. The regions covered in the mobile phone power accessories market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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