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Mobile Accessories Market Share

ID: MRFR//1376-HCR | 110 Pages | Author: Shubham Munde| November 2024

In the dynamic landscape of the Mobile Accessories Market, companies strategically deploy various market share positioning strategies to carve out a niche and gain a competitive edge. One prevalent approach is differentiation, where companies emphasize unique features or design elements to distinguish their products from competitors. This strategy often involves substantial investments in research and development to create innovative accessories that resonate with consumers. For instance, a company might focus on producing wireless charging pads with advanced technology or design sleek and stylish phone cases that stand out in a crowded market.

Another key strategy involves pricing tactics. Some companies opt for a cost leadership approach, aiming to offer mobile accessories at lower prices than competitors while maintaining acceptable quality. This can be achieved through economies of scale, efficient supply chain management, and strategic partnerships with manufacturers. On the flip side, premium pricing is a strategy where companies position their products as high-end, targeting consumers willing to pay a premium for superior quality or exclusive features. This approach often involves creating a perception of luxury and desirability through branding and marketing efforts.

Market segmentation is a vital component of successful market share positioning in the Mobile Accessories Market. Companies analyze the diverse needs and preferences of consumers and develop products tailored to specific segments. This strategy acknowledges that not all consumers seek the same features or are willing to pay the same price for accessories. For instance, a company may offer rugged and durable phone cases for consumers with active lifestyles, while also providing sleek and fashionable cases for those who prioritize aesthetics. By understanding and catering to different market segments, companies can maximize their reach and appeal to a broader consumer base.

Strategic partnerships and collaborations play a crucial role in market share positioning within the Mobile Accessories Market. Companies often form alliances with smartphone manufacturers to create co-branded accessories or collaborate with popular influencers and celebrities to enhance their products' visibility and desirability. These partnerships not only leverage existing brand equity but also tap into the established fan base of the collaborators, driving sales and market share growth. Additionally, strategic collaborations can lead to cross-promotional opportunities, expanding the reach of mobile accessory brands to new and diverse audiences.

E-commerce and digital marketing have become integral elements of market share positioning in the Mobile Accessories Market. Companies invest heavily in online platforms to reach a global audience and capitalize on the growing trend of online shopping. Digital marketing strategies, including social media promotions, influencer marketing, and targeted advertising, enable companies to connect directly with consumers, build brand awareness, and drive sales. E-commerce platforms also provide valuable data and insights that companies can use to refine their market positioning strategies and adapt to changing consumer preferences.

Covered Aspects:

Report Attribute/Metric	Details
Base Year For Estimation	2021
Historical Data	2018 & 2020
Forecast Period	2022-2030
Growth Rate	8.30% (2022-2030)

Mobile Accessories Market Highlights:

Mobile Accessories Market Trends

Mobile Accessories Market Analysis

Mobile Accessories Market Share

Mobile Accessories Companies

Global Mobile Accessories Market Overview:

Mobile Accessories Market Size was valued at USD 164.2 billion in 2021. The mobile accessories market industry is projected to grow from USD 177.8 billion in 2022 to USD 310.7 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.30% during the forecast period (2024 - 2032). The growing acceptance of smartphones, which offer dependable connectivity to the online world, is the main market driver for mobile accessories. The explosion in cell phone accessories is driven by an increase in demand for wireless devices..

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Mobile Accessories Market Trends

Rise in smartphone demand to propel the market growth

The demand for smart devices like smartphones, smart wearables, and tablets is increasing exponentially in the modern technological era. Instant interactions between people worldwide are now possible thanks to smartphones, SMS, text messages, calls, video chat, and applications. They are lightweight and perfectly pocket- or bag-sized. Those with little funds have a few options from which to pick. The demand for smartphones has also surged due to the entertainment value of cellphones. Sales of smartphones have skyrocketed as a result of the rising standard of living and economic expansion, particularly in Asia's developing nations. The demand for smartphones affects the market for mobile accessories. Numerous applications for mobile accessories are available to improve a smartphone's user experience. For instance, a power bank offers mobile charging, Bluetooth joysticks enhance gameplay, headphones offer high-quality, individualized music, mobile cases offer safety, and a screen protector shields the screen. Thus, this factor is driving the market CAGR for mobile accessories.

Additionally, according to research, mobile gaming accounts for 60% of the entire gaming market. This has led to a rise in demand for mobile accessories like Bluetooth controllers, triggers, cooling fans, and noise-canceling headphones. Mobile games' accessibility and convenience of download are factors in their rise because they can be played practically anywhere. For developers and publishers, creating a mobile game is less expensive, and since the majority of recently published games use a free-to-play business model, entry hurdles are low. Mobile games are recognized for their creativity and for having games that are on par with those on consoles. Over the course of the projection period, the market will be driven by the continued growth of the mobile gaming sector and the introduction of console games on mobile platforms.

Furthermore, smartphone accessory technology has advanced quickly as a result of the increased desire for better camera quality and convenience of photography with smartphones. These include of portable flashlights, wide-angle lenses, video stabilization devices, and rapid photo printers. A good video stabilizer and wide-angle, high-resolution lenses may not be included into every smartphone. Accessories are created to improve the mobile phone's camera capability in order to address these drawbacks without purchasing additional equipment like a digital camera. The demand for portable lenses, flashlights, and stabilizers is anticipated to create an opportunity for the expansion of the mobile accessories market due to the convenience element associated with it and the rising trend of content creation for many social media websites. Thus, it is anticipated that this aspect will accelerate mobile accessories market revenue globally.

Mobile Accessories Market Segment Insights:

Mobile Accessories Price Range Insights

The Mobile Accessories Market segmentation has been segmented by price range into Premium, Medium and Low. The premium segment dominated the market growth in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Due to compatibility concerns and greater quality, branded mobile accessories have seen a surge in sales, which is associated with the higher growth. Customers who typically purchase accessories want to improve their user experience and increase the functionality of their current cellphones.

Mobile Accessories Product Insights

The Mobile Accessories Market segmentation, based on product, Headphone, Protective Cases, Power Bank and Portable Speaker. The BFSI segment dominated the mobile accessories market revenue in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The greater portion is related to the regular entertainment use of cellphones, which is incomplete without high-quality, individualized audio. Over the projected period, there will be a rise in the demand for headphones due to the increasing use of games and entertainment material on smartphones.

Figure 2: Mobile Accessories Market by Price Range, 2021 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Mobile Accessories Distribution Channel Insights

Based on distribution channel, the global cancer diagnostics market data, the market is segmented into online and offline. The offline segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The higher percentage is correlated with the growing tendency of purchasing mobile accessories from offline retailers, primarily to assess product quality. The majority of consumers enjoy testing the audio quality of headphones, the sharpness of camera lenses, and the protective case to determine whether or not it looks good.

Mobile Accessories Regional Insights

By region, the study provides the market insights for mobile accessories into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific mobile accessories market accounted for USD 70.9 billion in 2021 and is expected to exhibit a 43.20% CAGR during the study period. In terms of consumption and low-cost mass manufacture, nations like China, India, South Korea, Japan, and Vietnam have emerged as major contributors to the expanding market for mobile accessories. The availability of raw materials, the lower cost of labour and transportation, and the growing popularity of mass production in the Asia-Pacific are all contributing factors.

Further, the major countries studied in the market report for mobile accessories are: The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: Mobile Accessories Market SHARE BY REGION 2021 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

North America mobile accessories market is expected to grow at a significant CAGR from 2022 to 2030. Due to the presence of high-end smartphone companies like Apple, Motorola, and Samsung, the region has experienced substantial growth. In order to solve compatibility problems and give their users better quality, they have also introduced their line of mobile accessories. Further, the US mobile accessories market held the largest market share, and the Canada mobile accessories market was the fastest-growing market in the region.

Europe mobile accessories market accounts for the second-fastest growing market share. The market is anticipated to be driven by factors such as evolving lifestyles and rising disposable income throughout the projected period. Additionally, the market for accessories is being driven by the region's rising smartphone demand. Moreover, UK mobile accessories market held the largest market share, and the Germany mobile accessories market was the fastest-growing market in this region.

Mobile Accessories Key Market Players & Competitive Insights

Major market players are spending a lot on R&D to increase their product lines, which will help the mobile accessories industry grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, market developments and collaboration with other organizations. Competitors in the industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market industry.

One of the primary business strategies manufacturers adopt in the global mobile accessories industry to benefit clients and expand the sector is manufacturing locally to reduce operating costs. In recent years, mobile accessories industry has provided medicine with some of the most significant benefits. The mobile accessories market major player such as Samsung Electronics Co. Ltd. (South Korea), Sony Corporation (Japan), Panasonic Corporation (Japan), Apple Inc. (US), JVC Kenwood Corp. (Japan), Plantronics Inc. (US), Bose Corporation (US), Griffin Technology (US), Otter Products LLC (US), Sennheiser Electronics GmbH & Co. KG (Germany), Huawei Technologies Co. Ltd. (China), HTC Corporation (Taiwan), Lenovo Group Limited (China), ASUSTeK Computer Inc. (Taiwan) and TCL Communication (China).

Apple Inc. is a global American technology firm with headquarters in Cupertino, California. Apple is the largest technological business by revenue, the largest corporation in the world by market value as of June 2022, the fourth-largest personal computer vendor by unit sales, and the second-largest maker of mobile phones. In September 2022, with a redesigned H2 chip for improved performance, active noise reduction, and transparency mode, Apple unveiled its second-generation AirPods Pro.

Also, the Samsung Group is a worldwide conglomerate of manufacturers with its headquarters at Samsung Town in Seoul. Samsung entered the shipbuilding and construction industries in the middle of the 1970s after first entering the electronics sector in the late 1960s. In April 2022, to introduce an environmentally friendly smartphone cover and watch accessories, Samsung Electronics Co., Ltd. announced a collaboration with plant-based designer Sean Wotherspoon. Completely of the gadget accessories are made using sustainably produced, 100 percent recycled materials, and the watch bands and cases are all biodegradable.

Key companies in the mobile accessories market includes

Samsung Electronics Co. Ltd. (South Korea)

Sony Corporation (Japan)

Panasonic Corporation (Japan)

Apple Inc. (US)

JVC Kenwood Corp. (Japan)

Plantronics Inc. (US)

Bose Corporation (US)

Griffin Technology (US)

Otter Products LLC (US)

Sennheiser Electronics GmbH & Co. KG (Germany)

Huawei Technologies Co. Ltd. (China)

HTC Corporation (Taiwan)

Lenovo Group Limited (China)

ASUSTeK Computer Inc. (Taiwan)

TCL Communication (China)

Mobile Accessories Industry Developments

September 2023: TORRAS launched new inventions at IFA 2023 in September 2023 with a collection of phone covers.

October 2022: Google LLC introduced its new phones, the Pixel 7 Pixel 7 Pro, in October 2022 and also their Tensor G2 chip as well as the Pixel watch from the Made by Google Event in New York. In addition to that, Google’s Pixel 7 and Pixel 7 Pro have their back cameras redesigned. The phone is shiny aluminum with an aluminum camera bar.

April 2022: Samsung Electronics Co., Ltd. announced eco-friendly smartphone case and watch accessories through a collaboration with plant-based designer Sean Wotherspoon in April 2022. All device accessories are sourced justly using a hundred percent recycled materials, whereas all cases and watch bands are biodegradable.

February 2022: The Thunderbolt 4 cable and CONNECT Pro Thunderbolt 4 Dock from Belkin were released recently. These products are based on Intel's Thunderbolt 4 controller and offer features like quick charging, dual display compatibility for content up to 4K at 60Hz, and more.

February 2022: Belkin released its new line of connectivity products in February 2022 based on Intel’s Thunderbolt 4 controller last month, which includes the Thunderbolt 4 cable and the CONNECT Pro Thunderbolt 4 Dock designed with features like dual display compatibility for content up to 4K at 60Hz, quick charging etc.

Mobile Accessories Market Segmentation:

Mobile Accessories Price Range Outlook (USD Billion, 2018-2032)

Premium

Medium

Mobile Accessories Product Outlook (USD Billion, 2018-2032)

Headphone

Protective Cases

Power Bank

Portable Speaker

Mobile Accessories Distribution Channel Outlook (USD Billion, 2018-2032)

Online

Offline

Mobile Accessories Regional Outlook (USD Billion, 2018-2032)

North America
- US
- Canada

Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe

Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific

Rest of the World
- Middle East
- Africa
- Latin America

Mobile Accessories Companies

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