Mobile Accessories Market Size was valued at USD 164.2 billion in 2021. The mobile accessories market industry is projected to grow from USD 177.8 billion in 2022 to USD 310.7 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.30% during the forecast period (2022 - 2030). Mobile accessories are add-ons that accentuate the appearance of portable devices and reflect the style of the user. They are being sold in high number owing to the proliferation of online channels and expendable income levels of users. The COVID-19 outbreak and its impact on the market is covered in great detail.
Mobile Accessories Market Scope
Mobile Accessories Market Size was valued at USD 164.2 billion in 2021. The mobile accessories market industry is projected to grow from USD 177.8 billion in 2022 to USD 310.7 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.30% during the forecast period (2022 - 2030).The market is expected to experience heavy demand due to purchase of mobile phones. The hybrid work model practiced by modern consumers and the need for prompt action by corporations to cater to clients has led to a flurry of sales. Identification of right demographics due to spending levels can prove to be lucrative for manufacturers in the long run. Developments in power banks and increase in charging capacity has garnered heavy interest among multiple device users.
The COVID-19 pandemic did have an effect on the market in 2020 due to the pandemic restricting sale and transport of accessories. But the relaxation of norms and opening of consumer electronic shops can resurge sales of the market.
Mobile Accessories Market Segmentation
The segment assessment of the mobile accessories market is done by price range, distribution channel, and product type.
The price range based segments of the mobile accessories market are premium, low, and medium. The rise in the sales of premium mobile accessories can promote the expansion of the market.
The product type based segments of the mobile accessories market are power bank, headphone, protective cases, and portable speaker among others. The headphone and power bank segments can cause escalation of the mobile accessories market in the years ahead.
The distribution channel based segments of the mobile accessories market are online and offline. The increase in demand for online mobile accessories can promote the expansion of the market in the study period.
Mobile Accessories Global Market Regional Analysis
In emerging economies of APAC, such as India, the rise in the production capacity of generators designed for the mobile accessories can push the regional market in years to come. The growing availability of luxurious mobile phones can prompt the expansion of the mobile accessories market in APAC in the years ahead. In addition, the increase in exercising of FDI policies in India can also promote the rise of Asia Pacific mobile accessories market through the study period. In North America, the mobile accessories products sales are significantly high, thereby contributing the rise of the regional market. In addition, the presence of high count of manufacturing companies can promote the expansion of the market through the analysis period, reveals MRFR regional study.
Samsung Electronics Co., Ltd. (South Korea), JVC Kenwood Corp. (Japan), Panasonic Corporation (Japan), Griffin Technology (U.S.), Apple Inc. (U.S.), Bose Corporation (U.S.), Plantronics, Inc. (U.S.), Otter Products, LLC (U.S.), Sennheiser Electronics GmbH & Co. KG (Germany), and Sony Corporation (Japan) are some prominent names in the mobile accessories market as profiled by MRFR.
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