Mobile Phone Accessories Market: Protective Case Product Type to Lead in Terms of Market Share

Mobile phone accessories market offers immense opportunities to manufacturers due to large number of mobile device users and substantial growth in adoption of smartphones and tablets. Moreover, the mobile phone accessories market is further being supported by a steady decline in the smartphone prices across the globe. Increasing disposable income and growing global population, expanding urban population and increasing strong distribution network are major factors driving growth of the global Mobile phone accessories market. However threat of piracy and lack of standardization are major restraining factors for the market growth of mobile phone accessories market.

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Segmental Forecast

Global mobile phone accessories market is categorised on the basis of product type, price range, distribution channel, and region. On the basis product type, the market is segmented as battery, charger, headphone/earphone, memory card, portable speaker, protective case, and others. The power bank segment is anticipated to register a CAGR of 8.4% during the forecast period. This can be attributed towards the increased adoption of power banks worldwide owing to their convenience and usability. The power bank segment is anticipated to reach a market estimation of more than US$ 16 Bn by the end of the assessment year (2027) from a market value of about US$ 7.2 Bn in 2017. The protective case segment in the product type category is estimated to be the largest segment in terms of market value. In 2017, this segment portrayed a valuation of about US$ 14.4 Bn and is estimated to reach a value of more than US$ 25 Bn by the end of the forecasted year. This segment, however, is projected to grow at a comparatively slow rate and poised to register a CAGR of 5.9% throughout the period of forecast. The portable speaker segment is the second fastest growing segment with a significant market value. This segment is poised to grow at a CAGR of 6.9% during the period of forecast, 2017-2027. With respect to market value, headphone/earphone segment and charger segment are viewed at second and third position respectively, growing at a significant CAGR during the period of assessment.

On the basis of price range, the global market is segmented into premium, mid, and low. The revenue contribution from the premium price range segment is anticipated to expand at a CAGR of 7.0% during the forecast period. On the basis of distribution channel, the global market is segmented into multi brand store, single brand store, and online store. The revenue contribution from the online store segment is anticipated to expand at a CAGR of 8.2% during the forecast period.

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Among the regions, APEJ is projected to exhibit relatively high growth in the global market, registering a CAGR of 8.6% over the forecast period. Revenue from the Mobile phone accessories market in Asia Pacific and North America is expected to collectively account for over 46.5% of the global Mobile phone accessories market revenue in 2017. Mobile phone accessories providers can focus on expanding their technologies across several countries in APAC and North America regions such as India, China and U.S.

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This release was published on openPR.