Report Description:
Mobile phone accessories assist in enhancing the user’s experience with mobile phones. At present, mobile phones are equipped with multiple functions such as clicking pictures, web accessing, listening to music, and storing data. Consumers improve and increase the value of their mobile phones with the help of different mobile accessories such as protective cases, headphones, USB cable, power banks, chargers, portable speakers, memory cards, and selfie stick.
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The major factor that boosts the market growth is the increase in adoption of smartphones in urban areas due to effective connectivity to the digital world. Moreover, Bluetooth wireless headphones offer numerous advantages over wired devices such as portability, convenience, cost-effectiveness, efficiency, and flexibility. Rise in demand for wireless accessories owing to changing customer preferences to listen to music on portable devices such as smartphones and tablets through music streaming platforms like YouTube and sound cloud supplements the market growth.
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The demand for mobile accessories has increased due to rise in in disposable income and growth in popularity of social networking sites in urban areas. In addition, increase in Internet penetration has boosted the online retailing platform. However, factors such as excessive use of headphones affecting the hearing ability of users hampers the market growth. Rapid technological advancements, including implementation of noise canceling technology, Bluetooth/NFC speakers, and built-in fan and light in selfie sticks, are expected to offer opportunities for growth.
Key players operating in the world mobile accessories market are Panasonic Corporation, Senheiser Electronic GmbH & Co. KG, Sony Corporation, Samsung Electronics Co. Ltd., Apple Inc., Bose Corporation, BYD company Limited, Plantronics, Inc., Energizer Holdings, Inc., and JVC Kenwood Corporation.
Top Factors Impacting the World Mobile Phone Accessories Market
Rise in demand for wireless accessories
Change in lifestyle and preference for comfort and simplicity drive the demand for wireless mobile phone accessories. Currently, earphones & charger segment has witnessed tremendous demand in developing nations such as India, China, and Brazil. In the future, these countries are expected to contribute a notable share in the mobile accessories market, thereby offering growth opportunities.
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Increase in smartphone adoption
With the change in customer preferences, industry players are continuously developing enhanced feature premium smartphones such as long-lasting battery, Bluetooth headset wireless speakers, and others. Furthermore, smartphones have replaced featured phones due to their increased affordability for the middle-class population. In the year 2015, the number of smartphones shipped was around 1.43 billion, and this is expected to increase in the coming years. The increase in smartphone penetration expands the mobile accessories market.
Increase in disposable income
Improving lifestyles due to rise in income level, especially in the developing countries such as India China, South Africa, and Brazil, is the key factor fueling the demand for mobile accessories. The per capita national income of India has increased by 9.2% as compared to that between 2012 and 2013, resulting in subsequent increase in accessories adoption rate. The effect of the rising income level factor is moderate in the market, and its impact is expected to increase in the near future, thus increasing demand for comfort among customers and growing per capita income.
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