Africa Mobile Phone Accessories Market to Grow at a CAGR of 5.8% by 2026

The Africa Mobile Phone Accessories market is anticipated to grow from US$ 2,315.9 Mn in 2016 to US$ 4,060.2 Mn by 2026, registering a CAGR of 5.8% in terms of revenue during the forecast period (2016-2026) – according to a new report “Mobile Phone Accessories Market: Africa Industry Analysis and Opportunity Assessment, 2016–2026” published by Future Market Insights. In this report, the Africa mobile phone accessories market is tracked in terms of value and volume, and is calibrated to obtain market revenue estimates.

According to Future Market Insights, “Increasing disposable income and rapid urbanisation are factors anticipated to drive growth of the Africa mobile phone accessories market over the forecast period. Increased internet usage and smartphone penetration, along with a robust growth of m-commerce is further expected to push the demand for mobile phone accessories in Africa during the forecast period.” The report also identifies factors likely to hamper the growth of the Africa mobile phone accessories market. Poor economic conditions and an established market captured by Chinese vendors are some of the major challenges expected to be faced by market players in the Africa mobile phone accessories market during the forecast period.

The overall Africa mobile phone accessories market is segmented on the basis of type, price, distribution channel, and region. The report provides market data in terms of value and volume and forecasts projections for the period 2016-2026.

Segmentation highlights

In 2015, the protective cases segment dominated the Africa mobile phone accessories market, followed by the headphones & earphones However, Future Market Insights analysts predict the power bank segment to expand at the fastest CAGR of 6.8% over the forecast period in terms of revenue. Demand for power banks is estimated to witness the highest growth rate by 2016 – frequent power cuts in certain parts of Africa is a key factor likely to boost this demand.

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The mid-priced segment is expected to expand at the highest CAGR of 6.2% in terms of value during the forecast period. In terms of market share, the low-priced segment alone accounted for more than one-third of the revenue share of the overall market in 2015 and Future Market Insights analysts feel this segment will dominate the Africa mobile phone accessories market in the coming 10 years.

The online store segment is expected to expand at the highest CAGR of 7.2% in terms of value during the forecast period. In terms of market share, the multi-brand store segment alone accounted for more than one-third of the revenue share of the overall market in 2015 and is expected to dominate the Africa mobile phone accessories market between 2016 and 2026.

Regional forecast

In terms of region, Future Market Insights sees great potential in the Rest of Africa region, a segment that dominated the overall Africa mobile phone accessories market in 2015, accounting for more than one-third of the total market share. This segment is expected to be the largest revenue generator for mobile phone accessories in Africa by 2016, accounting for a revenue share of 44.1% by the end of 2016. The mobile phone accessories market in South Africa is projected to expand at the highest CAGR during the forecast period.

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Vendor insights

Future Market Insights forecasts a very promising scenario for key players operating in the Africa mobile phone accessories market over the next 10 years. Analysts are of the opinion that innovation in new product offerings and services will be a critical lever for companies such as Case-Mate, Muvit, and Mozo Accessories to consolidate their market position and establish a solid customer base.

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This release was published on openPR.