Mobile Music Accessories Market

Market Overview

The global mobile music accessories market size was valued at USD 245.23 billion in 2021 and is predicted to reach at USD 335.10 billion by 2030, increasing at a CAGR of 3.53% from 2022 to 2030.

As the name suggests, mobile music accessories allow users to hear sound by receiving audio signals from their devices. With the advancements in technology, wearable devices are expected to rise in popularity as a result of their compelling advantages. Earphones and headphones can both be purchased as corded or wireless devices right now. Active noise cancellation, formerly only found in closed-back headphones, is now available on both models as well. Nowadays, headphones and earphones are one of the most popular ways to listen to music because to the widespread availability of low-cost cell phones, MP players, streaming services, and desktop and laptop computers. Enhancements in sound quality filtering have been made to headphones and earphones, and these devices will continue to benefit from continuous work to improve hearing experience for users.

Earphone and headphone sales have risen as a result of the worldwide music industry's growth, as well as technological advances in professional audio as well as wireless communication. The global Mobile Music Accessories industry is growing as a result of the increasing popularity of earphones & headphones among millennials and the younger population. This year has seen a number of well-known and successful musicians from the music and film industries partnering up with video game developers and manufacturers to advertise their new goods. Additionally, several businesses have begun producing special 'artist special' series in collaboration with well-known musicians in order to provide their customers a distinctive sound. Increasingly affordable high-end technologies like NFC, Bluetooth, and passive and active noise-cancelling have also spurred growth in the global Mobile Music Accessories market in more recent years, as have technological advances.

Market Dynamics

Global Mobile Music Accessories Market Drivers

Growth Will Be Aided by New Technological Developments

Growing numbers of technological advances and breakthroughs are a primary driving force behind this market's expansion. The music accessories category has gone from being primarily a home audio accessory to the best portable AV accessory as a result of technological improvements. The above mentioned trend is projected to endure throughout the projected period as new wireless technologies like infrared, Bluetooth, Wi-Fi, as well as SKAA become more widely available.

Consumers around the world are gradually adopting products that include microphones, as well as those that include fitness and exercise functions. The expansion of the mobile music accessory market will be aided by new technological benefits and capabilities, such as calling and file sharing. Innovation has led to the invention of a wireless microphone that connects to the radio transmitter via Bluetooth. Furthermore, these gadgets have a wide range of applications, including smart phones, military devices, medical devices, and more. Called as silicon microphones or microphone chips, microphones are utilized in audio output devices. Wireless microphone technology reduces noise interference, provides more options for encryption, improves signal transmission reliability, and reduces distortion of the voice. The worldwide microphones industry is being fueled by the increased adoption of quality microphones plus wireless technology at accessible rates.

Smartphone Adoption Continues to Grow, Providing Market Momentum

Since the widespread use of smartphones and the widespread use of application downloads, the mobile music accessories market has undergone significant transformation. As the number of people using mobile applications rises, so will the demand for hardware accessories to go along with them. Smartphone accessories that enhance the capabilities of smartphones have grown in popularity in recent years, according to the market. Because of the enhancements to its sound / video capabilities, it is expected to have a favorable impact on the industry in the years to come. This device is primarily used for music and games.

Microphones are a common feature on a wide range of consumer electronics, including smartphones, tablets, and smartwatches. The market for microphones is closely related to the rise in demand for these gadgets. Smartphones and tablets require components that are compact, light, and power-efficient. MEMS microphones have been standard in smartphones for the last several years as they're the right match for their needs. As a result, the global sector is seeing a growing trend in the form of collaborations with mobile phone makers. Mobile music accessory sales have risen as demand for smartphones has increased, and this trend is projected to continue during the next few years.

Global Mobile Music Accessories Market Restraints

Due To the Prevalence of Counterfeits

The prevalence of counterfeit goods represents one of the most significant obstacles that the sector must overcome. In recent years, numerous imitation products have entered the market, which has resulted in the major market vendors losing a portion of their market share. As a direct result of this, there has been a precipitous drop in the purchases of original music accessories, which is anticipated to impede the expansion of the business throughout the course of the projection year.

Even more encouraging for microphone market growth is that the automobile industry is one of the most promising growth possibilities for speech recognition and hands-free driving technology. However, the market of microphones is also likely to experience a fall in the near future due to the current scenario of decreasing demand for automobiles. Vehicles that are affordable to buy and operate may also be preferred by customers. For the time being, features may be put on the back burner in favor of the more critical issue of mobility. The microphone market's possibilities of expansion during the projection period would be reduced if market for high automobiles decreased.

Global Mobile Music Accessories Market Key Opportunities

Expanding Strategic Alliances with Producers of Mobile Phones in Order to Create New Opportunities

At this time, one of the most notable tendencies being observed in the sector on a global scale is the expansion of collaborations with makers of mobile phones. The market has witnessed a rise in sales of mobile music accessories, and this trend is projected to offer new lucrative opportunities over the predicted years. The growth in demand for smartphones has caused the industry to see an increase in overall sales. Because of a cooperation between a manufacturer of mobile music accessories as well as a manufacturer of smartphones, dealers now have the ability to sell accessories along with mobile phones.

For example, Micromax has recently formed a partnership with JBL to provide music accessories for its own Canvas series of mobile phones. At the same time, HTC Corporation has formed a partnership with Beats by Dr. Dre to provide internal music as well as music accessories. In recent years, Nokia and Sennheiser have collaborated on the development of a new line of smartphones known as the music express series. The continued trend of businesses forming partnerships with mobile phone manufacturers is expected to be a primary driver of growth over the next few years.

Regional Analysis

The Global Mobile Music Accessories Market is segmented by geography into North America, Europe, Asia-Pacific (APAC Region), Latin America, and Middle East & Africa (MEA).

It is projected that North America will take the greatest share of the global market revenue, and it is still seeing the strongest growth. Asia Pacific and Europe will come in second and third, respectively.

In 2022, Asia-Pacific will be responsible for more than 50% of the world's total shipments of mobile accessories. The significant expansion of the mobile accessory market in Asia can be attributed to a combination of factors, including the enormous population base in Asia and the low prices of smartphones.

The rapid expansion of China's smartphone and tablet markets, its enormous existing and potential user base, its expanding online retail industry, and its rising per capita income are all factors that contribute to the country's abundant market potential for mobile accessories. In addition to these causes, the fact that customers have begun using their smartphones as fashion accessories will further boost sales in the mobile music accessories industry across the globe over the course of the projected period.

Segmental Analysis

The Global Mobile Music Accessories Market is divided into different segments according to the Type, Application, and Region (or Geography).

By Type, the Global Mobile Music Accessories Market is segmented into Microphones, Headset, and Others. The headsets segment is currently dominating the market. The market for mobile music accessories is also benefiting from the rising use of Bluetooth headsets, which is helping to drive growth in the market. Earphones are becoming increasingly popular as a result of its status as a practical and uncomplicated method for listening to music while on the move. Earphones and microphones have seen significant technological advancements in recent years, particularly in the area of noise cancellation, which has contributed to an increase in the market share held by these products.

Despite an increase in the number of wired headset shipments, there has been a consistent rise in the number of Bluetooth headsets sold, particularly those equipped with stereo headphones. Because consumers are more interested in making investments in headsets, the highest average sales price of earphones is significantly higher than that of other mobile accessory categories. In addition to advances in technology such as an increase in the manufacturing of smartphones, features such as noise cancellation and the ability to store a significant amount of music on mobile devices have been playing a big part in the rise in market for mobile music accessories.

By Application, the Global Mobile Music Accessories Market is segmented into Modern Music Accessories and Video & Games Accessories. The market share for these types of accessories is now being led by modern music accessories. The global market for modern music accessories is experiencing a significant uptick in demand as a result of the development of a number of technologies, including the SRS Wow effect, additional bass, and noise cancellation. Because of advances in technology, the music accessory sector has significantly moved from being mostly focused on home audio accessories to being one of the best portable AV accessory categories. The market for these devices has increased as a result of technological advancements in wireless goods like infrared, Bluetooth, and Wi-Fi, and this trend is expected to continue over the course of the projected period.

Consumers all across the world are rapidly gravitating toward purchasing products that mix fitness and workout functions with microphones, as well as those that integrate both of these. The development of more advanced technical functions and advantages, including as calling and file sharing, will favorably contribute to the expansion of the market for modern music accessories.

By Region or Geography, the Global Mobile Music Accessories Market is segmented into North America, Europe, Asia-Pacific (APAC Region), Latin America, and Middle East & Africa (MEA). In terms of global market revenue, North America is expected to have the most sway, trailed by Asia Pacific and then by Europe. In 2022, more than half of all mobile accessory exports will come from Asia-Pacific. Mobile accessories have seen substantial growth in Asia, because to the region's large population and low-cost handsets.

Recent Developments

• June 2022 - The Sony Group Corporation and the Honda Motor Company, Ltd. had announced that they had signed a partnership agreement to establish a new business that will engage in the sales of high-value-added electric vehicles (EVs) as well as provide services for mobility. The new company will be called the Honda-Sony Group Corporation Joint Venture.
• May 2022 - On May 31, 2022, Panasonic Corporation & Leica Camera AG made public their announcement that they had achieved an agreement for a new business alliance that would be both comprehensive and expanding.