The increasing application of mobile phones and the expansion of 5G technology to ease operations and help in the smoother functioning of these devices are expected to have significant impact on mobile phone accessories market. According to a study by Future Market Insights (FMI), the market will surpass US$ 86.80 Bn by 2021.
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With the incorporation of IoT in households, a swift rise in the demand for mobile phone accessories has been witnessed, and this trend will continue in the near future. The emergence of 5G technology will also boost the demand for mobile phone accessories that work on augmented reality and virtual reality technology.
The high speed of 5G technology will provide a better experience of devices that are connected through wireless technology and will play a major role in driving the demand for wireless connectivity devices.
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In addition, growth in smart homes and smart appliances sales has been a complementing factor for mobile phone accessories. The demand for protective cases and covers is expected to be significantly high. Nearly 20% of mobile phone accessories sales are expected to concentrate in this segment.
With the advent of 5G technology, consumers will have a better experience at the usage of smart devices owing to better connectivity and high-speed Internet, which is estimated to fuel the demand for smart devices in the near future.
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Key Takeaways from the Mobile Phone Accessories Market Study
- FMI in its latest study has forecast the market to rise at a CAGR of ~6.7% between 2021 and 2031
- The U.S. is expected to register impressive growth, accounting for above 78% of overall sales in North America
- The U.K. is expected to register nearly 4% Y-o-Y growth in 2021
- The demand from Germany and France is expected to rise considerably in response to the expansion of 5G networks
- While China will remain leading market in East Asia, the demand from South Korea and Japan too is expected to rise at a swift pace
A recent market study published by Future Market Insights on the mobile phone accessories market offers global industry analysis for 2016-2020 & opportunity assessment for 2021-2031. The study offers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical, as well as current growth parameters, the growth prospects of the market are obtained with maximum precision.
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Mobile Phone Accessories Market by Category
- Power Banks
- Protective Cases & Covers
- Portable Speakers
- Memory Cards
- Data Cables
- Mount & Stands
- Selfie Stick
- Others (Stylus Pen)
- Folding Cartons
- Clear View Boxes
- Pouches & Bags
- Blister Packs
- By Brands
- By 3rd Parties
- By White Labels/No Name Brands
- Retail Outlets (Multi-Brand Outlets)
- Electronic Stores
- Franchise Outlets
- Exclusive Stores (Branded Stores)
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (MEA)