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Global smartphone accessories market forecast to 2024 insights shared in detailed report

Global smartphone accessories market forecast to 2024 insights shared in detailed report

Smartphone accessories are also used for improving longevity and ornamental features of smartphones. Headphones, selfie-stick, portable speakers, power banks and many more provide an advantage to use smartphone in an easier way.

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Market Overview

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Wide adoption of smartphones is boosting smartphone accessories market growth majorly in urban areas. Moreover, innovative product to make a style statement is penetrating the global smartphone accessories market.

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Top smartphone models such as Apple’s iPhone, Samsung Galaxy sets, Sony Xperia are driving the demand for attractive accessories.

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However, large availability of local players is restricting the profit margins for leading vendors. Regional players are trying to merge with established players to seek a promising growth.

For instance, in 2014, SoftBank BB Corp. a Tokyo based mobile accessories company, acquired by Brightstar Corp.

aiming for expanding smartphone accessories business in specific region. In 2015, Cat phones have introduced new and affordable range of mobile accessories.

Moreover, Karbonn India based mobile phone Company also announced to launch mobile accessories in March 2016.

Key Market Players

  • Apple Inc.

o Synopsis

o Business Strategy

o Product Portfolio

o SWOT Analysis

  • Samsung Electronics Co. Ltd.
  • Sennheiser Electronics GmbH & Co.
  • Sony Corporation
  • Bose Corporation
  • Energizer Holdings Inc.
  • Panasonic Corporation
  • BYD Company Limited
  • JVC Kenwood Corporation
  • Incipio, LLC
  • Plantronics Inc.
  • Philips N.V.
  • Motorola, Inc.
  • Belkin International, Inc.
  • Logitech International SA
  • Targus Group International Inc.
  • Zagg Inc
  • Otter Products LLC
  • Incase Design Corp.
  • Kensington
  • Griffin Technology
  • Case Logic

Market Segmentation

Global Smartphone Accessories Market is categorized on the following basis:

  • Based on Price

o High-Range

o Mid-Range

o Low-Range

  • Based on products

o Protective Phone case

o Screen Protector

o Power Bank

o Earphones/Headphones

o Chargers

o Speakers

o Others (Selfie-sticks, memory card, battery.

  • Based on Distribution Channel

o Online Channel

o Offline Channel

  • Based on Geography

o North America (U.S. & Canada) {Market Size (USD Billion), Growth Analysis (%) and Sales (In Units)}

o Latin America (Brazil, Mexico & Rest of Latin America) {Market Size (USD Billion), Growth Analysis (%) and Sales (In Units)}

o Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE) {Market Size (USD Billion), Growth Analysis (%) and Sales (In Units)}

o Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) {Market Size (USD Billion), Growth Analysis (%) and Sales (In Units)}

o Middle East & Africa (GCC, South Africa, North Africa, RoMEA) {Market Size (USD Billion), Growth Analysis (%) and Sales (In Units)}

o Rest of World {Market Size (USD Billion), Growth Analysis (%) and Sales (In Units)}

Market Size and Forecast (2016-2024)

The global smartphone accessories market is expected to reach value of USD 104.31 billion by 2024. The smartphone accessories market is projected to witness a healthy CAGR of 6.5% over the forecast period.

Premium ranged accessories are contributing in generating large revenue however the market is primarily acquired by mid-range and low range products by volume. Low range smartphone accessories are anticipated to grow at CAGR of 7.1% over the forecast period.

Distribution channel is also attracting the consumers and contributing in increasing the sales of smartphone accessories. Online products have contributed to generate major part of revenue and expected to grow at CAGR 8.5% during the forecast period.

North America and Europe together accounted for over 40% share of global smartphone accessories market in 2016. North America smartphone accessories market valued USD 14.5 billion in 2016 owing to the rising sales of protective cases, power banks and portable speakers for smartphones in the U.S.

and Canada. Moreover, Latin America and Middle East & Africa region are expected to become a fastest growing market for smartphone accessories over the forecast period. Latin America and Middle East & Africa smartphone accessories market together valued USD 5.04 billion in 2016.

Rising sales of smartphones and increasing adoption of online distribution channel for products in countries such as Brazil, Saudi Arabia, the United Arab Emirates and Mexico is contributing in the expansion of smartphone accessories business in the region.

Market Drivers and Challenges

Growing adoption of smartphones is the key factor for boosting growth of smartphone accessories market. Devices such as portable speakers, selfie-sticks and power banks are emerging as a new trend into the market.

Rising personal disposable income and rising digitization are attracting the consumers across the globe to opt for advanced accessories for their smartphones. Moreover, availability of smartphone accessories through online distribution channel gaining huge customer interest and also increasing popularity of advanced products among consumers.

However, Bluetooth wireless speakers and headphones are affecting the hearing ability of consumers which is impacting the market growth. As per World Health Organization (WHO) over 22 million of young population is suffering from hearing disability due to harmful sound level produced by wireless speakers and headphones.

Moreover, high cost of quality power banks is confining the market for premium customers. Availability of low quality products is also limiting the growth of smartphone accessories market across the globe.

Scope Background

Market Synopsis

Market Segmentation

The Global Smartphone Accessories Market is segmented as follows:

  • By Price (Market Size, Demand Analysis and Growth Analysis)
  • By Products (Market Size, Demand Analysis and Growth Analysis)
  • By Distribution Channel (Market Size, Demand Analysis and Growth Analysis)

…Continued        

 

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