BANGALORE, India, Oct. 8, 2020
BANGALORE, India, Oct. 8, 2020 /PRNewswire/ -- According to the Latest Market Research Report "Mobile Phone Accessories Market by Product) Battery, Battery Cases, Chargers, Headphones, Memory Card, Portable Speaker, Power Bank, and Protective Case), by Distribution Mode (Online, Offline) and Region – Global Forecast to 2025 ", published on Valuates Reports.
The Global Mobile Phone Accessories Market size is expected to grow from USD 25,285.88 Million in 2019 to USD 37,071.56 Million by 2025 at a CAGR of 6.58%.
Major factors driving the growth of Mobile Phone Accessories Market size are the rise in smartphone use and seamless connectivity to the digital world.
The Mobile Phone Accessories Market report comprises an analytical depiction of the market size along with the current trends and future estimations to depict the imminent investment pockets.
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TRENDS INFLUENCING THE MOBILE PHONE ACCESSORIES MARKET SIZE
The increase in demand for wireless accessories is supporting the growth of the Mobile Phone Accessories Market size. This rise in demand is attributed to the shift in user preferences for listening to music on mobile devices, such as smartphones and tablets.
The rise in disposable income and the popularity of social networking sites in urban areas also contribute to the Mobile Phone Accessories Market size growth.
Rapid technological developments, including the launch of noise-canceling technology, Bluetooth / NFC speakers, and integrated fan and light in selfie sticks, are expected to fuel the Mobile Phone Accessories Market size during the forecast period.
MOBILE PHONE ACCESSORIES MARKET SHARE ANALYSIS
Based on the Product, The Power Bank is projected to witness the highest growth during the forecast period. The demand for power banks is expected to grow as modern-day mobile batteries are unable to withstand heavy use.
Based on Distribution Mode, the Online segment is projected to witness the highest growth during the forecast period. The recent COVID-19 is expected to further propel the growth of this segment.
Based on Geography, the Asia-Pacific is projected to witness the highest growth during the forecast period. This dominance is of Asia- pacific is due to the increased smartphone adoption in the region.
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MOBILE PHONE ACCESSORIES MARKET SEGMENTATION
By Distribution Mode
TOP COMPANIES IN THE MOBILE PHONE ACCESSORIES MARKET
With regular product releases incorporating new features, the market is highly competitive. Consumers can choose from a wide variety of product options because of cell phone accessories' compatibility and interchangeability.
The rising demand for cell phone accessories and high product profit margins has led many existing players to launch their own mobile phone industry accessories. Key players spend heavily on developing innovative accessories to gain mobile phone accessories market share.
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The report answers questions such as:
The U.S. mobile phone accessories market size is expected to reach from USD 29.10 Billion in 2018 to USD 75.62 Billion by 2026, growing at a CAGR of 13.6% from 2019 to 2026.
Due to the rise in purchasing power and the masses' lifestyle enhancement, the U.S. mobile phone accessories market size is projected to experience substantial growth from 2018 to 2025. During the forecast period, the Bluetooth speaker segment is anticipated to report the highest CAGR.
The global Mobile Phone Charger market size is projected to reach USD 7685.2 Million by 2026, from USD 6361.8 Million in 2020, at a CAGR of 3.2% during 2021-2026.
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