Global Mobile Accessories to Reach Billions in 2025
Mobile Phone Accessories complement the performance and enhance the features of our mobile phones. While we are going deeper into modernity, we slowly embrace these devices as necessity just as we have already accepted that mobile phones are one of the basic requirements for survival. These devices include headsets, chargers, earphones, protective covers and screen guards. Truly, mobile phone accessories represent the changing lifestyle as we are fully into technological advancements, innovations and development.
As we continue to evolve, technology evolves with us. The Peterson Group, wholesaler of mobile phone accessories and laptop peripherals based in Taiwan states that mobile market is also a dynamic advertise as it frequently launches of new features and devices.
The growing scope of mobile accessories has also gained headlines of thousands of researches, reviews and studies. Analysis of its development and sudden growth to present consumption to future impact has already been conducted.
One study stood out. Entitled “Mobile Phone Accessories Market: Global Industry Analysis and Opportunity Assessment, 2015 – 2025”, this research conducted by Future Market Insights (FMI) states that global mobile accessories market is anticipated to expand in CAGR of 6.9% every year. In the next 10 years, it will probably be reaching billions of dollars, surpassing the CAGR rate of 4.2% of the construction industry. This reference does not even include the millions of substandard and fraud mobile accessories which are currently extensive in the market.
On the basis of type, the market has been segmented into protective case, headphone/earphone, charger, memory card, battery, power bank, portable speaker and others. The protective case segment accounted for 20.5% share in the global mobile phone accessories market in 2014, and is expected to expand at a CAGR of 5.9% over the forecast period. The power bank segment is expected to expand at a robust CAGR of 9.0% over the forecast period.
The growing market is caused by increasing urbanization, inclining population and affordable cost of most generalized accessories in the market. Rising adaptation to mobile phone accessories are widespread in developing regions such as Latin America and the Asia Pacific. Adoption of smartphones across countries such as China, Indonesia and Brazil is growing at a rapid pace, linked to inclining Internet penetration and rising social networking in these countries. Increasing trend of mobile shopping and e-banking is strengthening demand for smartphones across these countries’ capital Jakarta and Beijing and across the globe. This, in turn, is supporting growth of the mobile accessories market.