This report analyzes the global mobile accessories market, focusing on key products like headphones, chargers, power banks, and protective cases. It examines distribution channels, including online and offline, and provides regional insights. The report offers forecasts for market growth and trends from 2023 to 2030, highlighting the key drivers and factors shaping the industry’s future.

Report Overview

The global mobile accessories market was valued at USD 88.07 billion in 2022 and is projected to grow at a CAGR of 6.8% from 2023 to 2030. Growth is driven by increasing smartphone usage and demand for wireless devices, such as headsets and speakers. Additionally, rapid technological advancements contribute to market expansion. However, the industry has faced supply chain challenges, especially following the disruptions caused by the COVID-19 pandemic.

The overall smartphone market’s disturbances, such as fewer shipments, also affected the mobile accessories market, leading to reduced demand for phone accessories. The lockdowns resulted in slowed sales growth, but the impact was temporary. Once restrictions were lifted, the mobile accessory market began recovering as sales started to pick up again.

In 2021, mobile accessories like headphones and earphones saw steady demand following the easing of restrictions. As more people worked from home, there was a surge in the need for mobile accessories for work, exercise, gaming, and education. The popularity of OTT platforms like Netflix and Amazon Prime also boosted accessory sales during this period.

The growing demand for wireless devices, coupled with ongoing technological innovations, is expected to continue driving mobile accessory sales. New products such as wireless headsets and speakers have contributed to this increase in market demand. Additionally, teenagers’ growing adoption of smartphones has driven up demand for accessories like phone covers and headphones, keeping pace with the evolving tech landscape.

The rise of the young working population has further fueled market growth. Women, in particular, tend to frequently change their phone covers, which contributes to overall market growth. Meanwhile, men often prefer to switch to other accessories, like headphones and fast chargers, further driving demand for mobile accessories.

Mobile accessories have become popular among consumers as they make phone usage more convenient. For example, smartwatches allow users to check notifications and calls without removing their phone from their pocket. Similarly, power banks cater to smartphone users who travel frequently and require a portable charging solution.

The increasing quality and affordability of smartphones have expanded the consumer base, leading to a greater demand for phone safety accessories. Modern consumers are more likely to invest in trendy, protective accessories. Additionally, increased internet penetration and the use of artificial intelligence by online retailers, such as pop-up notifications about new products, are important factors driving market growth.

Product Type Insights

The protective cases segment held a leading market share of 31.7% in 2022 and is expected to experience significant growth. Increased demand is driven by frequent product changes among female consumers, along with innovation in case materials tailored to specific brands like Apple, which prefers cases that highlight its logo.

The headphone segment is forecasted to grow at a CAGR of 7.3% during the period. Rising fitness awareness has led to increased demand for sports headphones, while the trend of affordable headphones is gaining popularity among budget-conscious consumers, especially those who travel frequently.

Distribution Channel Insights

The offline segment led the mobile accessories market with a 69.0% revenue share. Factors such as the high demand for expensive devices like smartwatches and concerns about the delivery of fragile items are driving growth. Additionally, price differences between local retail outlets and wholesale markets contribute to the segment’s expansion.

The online segment is expected to grow at a 7.5% CAGR during the forecast period. Increased internet access in rural areas, faster delivery services, and the convenience of online shopping for young, busy consumers are key drivers of this growth.

Regional Insights

In 2022, the Asia Pacific region led the market with a 46.5% share, with China contributing 55.2% of the total revenue. Factors like high mobile accessory usage, product innovation at competitive prices, and China’s dominance in the mobile phone industry are driving growth.

The Middle East and Africa is the fastest-growing region, driven by high demand in developing countries like the UAE and Saudi Arabia. Changing lifestyles, rising disposable income, and increasing smartphone demand are expected to further fuel the market in the coming years.

Key Companies & Market Share Insights

The mobile accessories market has moderate to low entry barriers, with many unstructured dealers in the industry. Innovation in technology, mergers & acquisitions, and joint ventures are driving the market forward. For example, OnePlus developed fast chargers that are compatible with various devices. Companies heavily invest in R&D to keep up with rapid technological advancements, requiring a strong understanding of consumer needs.

Examples of Key Market Developments:

• October 2022: Google LLC launched the Pixel 7 and Pixel 7 Pro, featuring a redesigned camera and polished aluminum finish.

• April 2022: Samsung Electronics collaborated with designer Sean Wotherspoon to introduce eco-friendly smartphone cases and watch accessories made from 100% recycled and biodegradable materials.

• February 2022: Belkin released new connectivity products, including the Thunderbolt 4 cable and CONNECT Pro Thunderbolt 4 Dock, offering features like dual 4K display compatibility and quick charging.

• December 2021: Nothing unveiled a new black version of its ear (1) gadget, with a commitment to carbon neutrality and the introduction of cryptocurrency payments in select countries.

• July 2021: OnePlus launched ANC headphones with industry-leading noise reduction, high-quality voice clarity, extended battery life, and customizable sound.

Global Mobile Accessories Market Report Segmentation

The Global Mobile Accessories Market Report analyzes revenue growth trends at global, regional, and country levels from 2017 to 2030. It highlights the latest trends and market opportunities across various segments. For the study, the market is segmented based on Product Type, Distribution Channel, and Region. This segmentation allows for a detailed analysis of emerging market patterns, consumer preferences, and key factors driving growth across different product categories and regions.

Source : www.grandviewresearch.com