Mobile accessories are considered an essential part of smartphones. The key mobile accessories include chargers, headphones/earphones, battery, portable speakers, data cables, USB cable, cases, holders, and screen protectors.
What is the market size of mobile phone accessories?
Similar to mobile phones, accessories for mobile phones are also not the same as they were in the 1990s. Mobile phone accessories are constantly developing according to evolving smartphone technology.
The global market size was estimated at about US$ 70 billion in 2018, which is expected to reach US$ 100 billion by 2025.
The chief growth driver behind the staggering demand for mobile accessories is the growing demand for mobile phones around the world. Moreover, the advancements in the mobile phone accessories are also one of the drivers behind its market value, such as wireless headphones and wireless chargers.
Headphones or earphones are becoming more advanced in terms of connectivity compared to other accessories, for instance, wireless headphones, Wi-Fi enabled, wireless earbuds, and single ear Bluetooth. Moreover, most headphones and earphones are also used with other audio devices, which is also one of the drivers behind a bigger market share in the mobile accessories market.
The Asia Pacific seems to have a higher market share as compared to other regions owing to the large population driving the growth. China plays a key role in both the demand and supply of mobile phone accessories due to large population and production base. Chinese companies have a cost advantage and sell cheap mobile phones accessories for domestic and export markets.
Some of the key global players in the mobile accessories market include JVC Kenwood Corp, Bose Corporation, Sennheiser, Sony Corporation, Griffin Technology, BYD, Plantronics, Panasonic Corporation, Apple Inc., LG, Phillips, and Samsung Electronics.