Mobile Accessories Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe
global mobile accessories market size is expected to
reach USD 110.6 billion by 2025, expanding at a CAGR of 7.1% in the forecast
period, according to a new report by Grand View Research, Inc. Growing
smartphone usage among the millennials and frequent technological modification
are among the prominent factors propelling the market growth.
On the basis
of product type, protective cases dominated the market with a share of 31.3% in
2018. The fact that the young consumer group is conscious of safety and
security of their mobile phones is among the leading factors for the segment
growth. Increasing popularity of the protective screen glasses and trendy
covers in anticipated to drive the segment in the near future. Apart from
protective cases, headphone is expected to expand at the fastest CAGR of 7.6%
in the forecast period. Increasing innovation in the product such as
introduction of wireless headsets, coupled with fitness conscious consumer
group, is driving the segment.
Based on
distribution channel, the offline segment dominated the mobile accessories
market and accounted for 69.9% share of the total revenue in 2018. Increasing
demand for high-end products such as smartwatch and camera lens, coupled with
failure in online deliveries of fragile items, is among the prominent factors
driving the segment. The online segment is expected to expand at the fastest
CAGR of 7.9% in the forecast period. Integration of artificial intelligence in
the online retail sites has led to increase in frequent notifications of mobile
accessories. Apart from this, discounts on the product is fuelling the market
growth in the recent times.
Asia Pacific
is the largest region for the product and it accounted for 45.0% share of the
overall revenue in 2018. China is one of the leading markets for smartphones
and accessories and it accounted for 55.0% share of the Asia Pacific market.
The fact that China is capable of changing technologies of the smartphones,
they are coming up with accessories that are adaptable with the changing
technologies. These factors are driving the market in the region.
Further key
findings from the study suggest:
- By product
type, the protective case segment held the largest share of 31.3% in 2018
- Countries such
as UAE and Saudi Arabia are projected to witness significant growth due to
increasing demand for smartphones
- By distribution
channel, the online segment is anticipated to expand at a CAGR of 7.9% in
the forecast period.
Access
full research report on global mobile accessories market:
www.grandviewresearch.com/industry-analysis/mobile-accessories-market
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Created on Nov 8th 2019 01:13. Viewed 334 times.