Global Mobile Phone Accessories Market to Reach US$ 120.4 Billion by 2028, Supported by the Increasing Utilization of Smartphones

According to the latest report by IMARC Group, titled "Mobile Phone Accessories Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global mobile phone accessories market reached a value of US$ 85.3 Billion in 2022. Mobile phone accessories represent a set of various additional hardware or software applications that are not deployed as an integral component for operating smartphones as designed by manufacturers. They comprise camera lens attachments, portable speakers, power banks, gaming controllers, universal serial bus (USB) cables, virtual reality (VR) headsets, and Bluetooth devices. Mobile phone accessories assist in improving the productivity of phones, enhancing appearance, protecting devices from different types of damage, promoting longevity of the gadget, augmenting sound quality, and offering optimal comfort to the users. On account of these properties, mobile phone accessories are extensively used by users for incorporating additional features and entertainment and communication purposes. At present, these products are commercially available in varying price ranges and across several distribution channels.

Global Mobile Phone Accessories Market Trends:

The widespread adoption of smartphones as a cost-effective entertainment and communication medium is primarily influencing the demand for various mobile phone accessories. Additionally, significant technological advancements, such as the introduction of various state-of-the-art premium battery chargers, virtual reality (VR) headsets, and wireless earphones or headphones with better sound quality and noise cancellation solutions is contributing to the market growth. Besides this, the escalating production of various artificial intelligence (AI) integrated wearable devices, such as smartwatches for monitoring notifications and attending calls efficiently and fitness bands to examine heart rate, body temperature, and blood pressure is stimulating the market growth. In line with this, the rising demand for security and safety features in smartphones have prompted key players to launch innovative screen protectors and phone cases to enhance privacy, protect against ultraviolet (UV) damage, and repel dust and dirt, which, in turn, is impelling the market growth. Moreover, key players are focusing on maximizing packaging efficiency without compromising on the utility by offering customized packaging solutions to improve the brand value, which is acting as another growth-inducing factor. Apart from this, the easy accessibility of high-speed internet connectivity with the support of fourth and fifth generation (4G/5G) long-term evolution (LTE) networks and the easy availability of smartphone accessories across both online and offline retail channels are creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 120.4 Billion by 2028, growing at a CAGR of 5.4% during 2023-2028.

Market Summary:

• Based on the product type, the market has been classified into battery, headphone/earphone, portable speaker, charger, memory card, power bank, protective case, screen guards, popsockets, and others.
• On the basis of the price range, the market has been divided into premium, mid, and low.
• Based on the distribution channel, the market has been bifurcated into online and offline.
• On a regional basis, the market has been segmented into North America (United States, and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and Middle East and Africa.
• The competitive landscape of the industry has also been examined, along with the profiles of the key players being Apple Inc., Bose Corporation, Energizer Holdings Inc., JVCKENWOOD Corporation, Kingston Technology Corporation, Panasonic Corporation, Plantronics Inc., Samsung Electronics Co. Ltd., Sennheiser electronic GmbH & Co. KG, Sony Corporation, Western Digital Corporation and Xiaomi Inc.

Report Scope:

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