The global mobile accessories market size is predicted to touch USD 6,780.6 million by 2025, as per the latest report by Market Research Future (MRFR). It can exhibit a remarkable CAGR over the forecast period (2020-2027). Mobile accessories are add-ons that accentuate the appearance of portable devices and reflect the style of the user. They are being sold in high number owing to the proliferation of online channels and expendable income levels of users. The COVID-19 outbreak and its impact on the market is covered in great detail.
The COVID-19 pandemic did have an effect on the market in 2020 due to the pandemic restricting sale and transport of accessories. But the relaxation of norms and opening of consumer electronic shops can resurge sales of the market.
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Global Mobile Accessories Market Segmentation
By price range, the market has been segmented as low, medium, and premium. The medium segment is expected to dominate the market; while the low segment is expected to register the highest CAGR during the forecast period. The medium price range segment provides technologically advanced mobile accessories. Increasing purchase of smartphones due to rise in spending levels can bode well for the market. Procurement of wireless headphones and speakers will favor the segment.
APAC is expected to dominate the global mobile accessories market owing to China and production facilities in the country. Development of accessories made from other than plastic at economical rates can drive the market demand. Huge number of smartphone users and disposable income levels can bode well for the market. Demand for protective and wireless accessories is likely to create new opportunities.
JVC Kenwood Corp., HTC Corporation, ASUSTeK Computer Inc., Panasonic Corporation, Otter Products, LLC, TCL Communication, Huawei Technologies Co., Ltd., Apple Inc., Griffin Technology, Lenovo Group Limited, Sennheiser Electronics GmbH & Co. KG, Sony Corporation, Plantronics, Inc., Samsung Electronics Co., Ltd., and Bose Corporation are key players in the global mobile accessories market. Development of new products is the primary strategy of players to gain the competitive edge.