The global mobile phone accessories market size was valued at USD 248.39 billion in 2021. It is projected to reach USD 335.59 billion by 2030, growing at a CAGR of 3.4% during the forecast period (2022-2030).
Mobile phone accessories are complementary products used to improve several features of mobile phones, increase their ease of operation, and protect the mobile phone from scratches and other external damages. The market for mobile phone accessories is primarily driven by the rising popularity of smartphones, which provide reliable connectivity to the digital world. Increased demand for wireless accessories fuels the surge in mobile phone accessories. The convenience of portable devices like smartphones and tablets, which require many accessories to charge the battery, listen to music, improve picture quality, increase storage capacity, and protect the device, has increased mobile phone accessory use globally.
The mobile gaming boom worldwide has increased the demand for several gaming accessories like Bluetooth joysticks, mobile triggers, smartphone cooling fans, and low-latency headphones. Additionally, the online retailing platform benefits from an increase in internet usage. Innovations in mobile phone accessories, which have introduced noise-cancellation technology, Bluetooth/NFC speakers, selfie sticks with fans and lights, and 5G technology, are expected to contribute to the market growth over the forecast period.
In the current age of technology, the demand for smart gadgets like smartphones, smart wearables, and tablets is witnessing exponential growth. Smartphones have paved the way for instant connections between people all over the world through SMS, text messages, calls, video chat, and applications. They are conveniently pocket or bag-sized and are also light in weight. Those on a tight budget can choose from some affordable models. The entertainment factor involved with smartphones has also increased the demand for smartphones.
The increased standard of living and economic growth, especially in developing countries of Asia, has led to massive growth in the sales of smartphones. The demand for mobile phone accessories is dependent on the demand for smartphones. Mobile phone accessories provide a wide range of applications to enhance the user experience of a smartphone. For example, a power bank provides an on-the-go charging facility, Bluetooth joysticks improve the gaming experience, headphones give good-quality personalized sound, mobile cases provide safety, and a screen guard provides screen protection.
As per the findings of a study, 60% of the gaming industry is dominated by the mobile gaming industry, which has increased the demand for mobile phone accessories such as Bluetooth controllers, triggers, cooling fans, and noise-cancellation headphones. The reason behind the growth of mobile gaming is their accessibility and ease of downloading, and the games can be played almost anywhere. Making a mobile game is less expensive for developers and publishers, and since most newly released games use a free-to-play business model, entry barriers are minimal. Mobile games are renowned for their innovation and titles that rival those found on consoles. Currently, there are joysticks and controllers explicitly designed for mobile devices, and in the future, mobile versions of PC or console games may be released.
Moreover, graphically demanding games require more power from the smartphone, leading to overheating. Overheating can cause degradation in the performance of the phone while playing games and damage the internal components of a smartphone. In order to protect the smartphone from damage due to overheating, a smartphone cooling fan is used, which can help to dissipate the heat and assist in lowering the temperature of the smartphone. The further expansion of the mobile gaming industry and the launch of console games on mobile platforms will drive the market over the forecast period.
The surge in demand for smartphones and their accessories has created a parallel offline and online market for counterfeit and illegally imported goods. The primary causes of the increase were China's low-cost bulk manufacturing of counterfeit accessories and the absence of anti-counterfeiting safeguards. It is challenging to detect the authenticity of a mobile phone accessory from its outer look. Consumers looking for low-cost branded accessories often purchase counterfeit products whose profits don't go to the brand. Mobile phone accessories manufacturers face massive losses because of counterfeit products, due to which the investment in the research and development of smart mobile accessories takes a toll. The lack of stringent regulations in the Asia-Pacific region for counterfeit products can increase further challenges for the growth of the mobile phone accessories market over the forecast period.
The growing demand for enhanced camera quality and ease of photography with smartphones has led to rapid technological advancements in the development of smartphone accessories. These include wide-angle lenses, stabilizers for video recording, instant photo printers, and portable flashlights. Some smartphones may not have inbuilt wide-angle and high-resolution lenses or a good video stabilizer. In order to overcome these shortcomings, accessories are developed to enhance the mobile phone's camera performance without buying other devices like a digital camera. Due to the convenience factor involved in it and the increasing trend of content creation for several social media websites, the demand for portable lenses, flashlights, and stabilizers is expected to create an opportunity for the growth of the mobile phone accessories market.
The global mobile phone accessories market is segmented by product type, distribution channel, and price range.
Based on product types, the global market is bifurcated into batteries, headphones, portable speakers, chargers, memory cards, power banks, protective cases, battery cases, screen guards, and wireless controllers.
The headphone segment is the highest contributor to the market and is expected to grow at a CAGR of 4.1% during the forecast period. The larger share is linked with the everyday use of smartphones for entertainment, which is incomplete without good-quality personalized audio. The growing consumption of entertainment content and games on smartphones will increase the demand for headphones over the forecast period. Mobile games require better quality sound, especially in the case of online games. This has increased the demand for headphones with noise-cancellation technology.
Moreover, the need to increase convenience involved with wired headphones has increased the demand for wireless earphones and headphones. Using earphones and headphones for exercise under various environmental conditions, such as rain and dust, has driven manufacturers to improve product durability. Several businesses have produced their products with a particular IPX rating, a safety rating that protects against water and dust.
For instance, a device with an IPX1 rating can withstand water dripping for ten minutes. The degree of protection can be rated from 0 to 9, with IPX9 being the highest level of protection and providing defense against high-pressure water jets. The rating scale for dust is similar, going from IP0X to IP6X, with IP6X being the highest. In some circumstances, the product might be resistant to dust and water. For instance, products with an IP57 rating are impervious to dust and water from high-pressure sprays. Such helpful features and significant technological advancements are anticipated to maintain the product's demand over the forecast period.
Based on the distribution channel, the global market is bifurcated into online and offline distribution.
The offline segment owns the highest market share and is expected to grow at a CAGR of 2.4% during the forecast period. The larger share is linked to the increasing trend of buying mobile phone accessories through offline stores, mainly to check product quality. Most consumers like to test the sound quality of headphones and the clarity of camera lenses and try out the protective case to see if it looks appealing or not. There is also a lack of confidence in purchasing mobile phone accessories due to counterfeit and low-quality products sold at leading e-commerce websites. Especially while buying a protective case, the consumers cannot experience how the protective cover would look on their phone. Due to these factors, the market is attracting more business through offline distribution channels. The availability of accessories in offline channels at a similar price range to online channels will increase the demand in this particular distribution channel over the forecast period.
Based on price range, the global market is bifurcated into entry-level, mid-range, and premium ranges.
The premium range segment is the highest contributor to the market and is expected to grow at a CAGR of 4.1% during the forecast period. The higher growth is linked to increased sales of branded mobile phone accessories due to compatibility issues and better quality. Consumers who usually buy accessories are looking to enhance their user experience and expand the application of their existing smartphones. They do not want to compromise on quality, durability, and user experience, leading to increased sales of premium mobile phone accessories. Furthermore, the innovative features and durability of the premium range products will drive the mobile phone accessories market over the forecast period.
The global mobile phone accessories market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific is the most significant shareholder in the global mobile phone accessories market and is expected to grow at a CAGR of 3.8% during the forecast period. The countries like China, India, South Korea, Japan, and Vietnam have come out to be significant contributors to the growing mobile phone accessories industry in consumption and mass production at a meager cost. Mass production in the Asia-Pacific is gaining traction due to the availability of raw materials and the lesser cost of workforce and transportation. The growing mobile gaming industry in South East Asia and China will increase the demand for mobile gaming accessories and headphones over the forecast period. Several manufacturers, such as Panasonic, Sony, OnePlus, and Samsung, are launching innovative mobile phone accessories, increasing the market's growth in the region.
North America is expected to grow at a CAGR of 3.2%, generating USD 67.54 billion during the forecast period. The significant growth in the region is due to the presence of premium smartphone brands like Apple, Motorola, and Samsung. They have also launched their mobile phone accessories to overcome compatibility issues and provide better quality to their users. The most dominant smartphone brand Apple has created its ecosystem to increase the user experience with their true wireless AirPods, wireless chargers, power cables, protective cases, and MagSafe leather pocket. Due to existing users' popularity and trust in the brand, the demand for mobile phone accessories made by Apple is rising. The users in the North American region usually do not go for counterfeit accessories due to the high living standard, high income, and concerns regarding data leaks. Furthermore, stringent laws regarding counterfeit products also prevent the loss of profits to the actual companies. These factors will further drive the region's market over the forecast period.
Europe is also growing at a substantial CAGR, owing to the increasing smartphone demand and rise in the mobile gaming industry in the region. In Europe, gamers usually play games on PC or Consoles, but recently the region has also seen massive growth in mobile gaming due to the success of the mobile version of PUBG and open-world games like genshin impact. Graphically demanding games on the mobile platform will attract a lot of gamers who usually play games on PC, Consoles, or Nintendo Switch. Moreover, wireless mobile controllers will witness a surge in sales due to the high standard of living and more income per capita in countries like the UK, France, Germany, Belgium, Italy, and other Western Europe countries. Portable gaming products such as Nintendo Switch can get completely replaced by smartphones due to the launch of graphically impressive games on mobile devices. The emergence of new brands like "OnePlus" and "Nothing" in the region has also contributed to the market with their innovations and brand value.
LAMEA region is projected to contribute to the growth of the mobile phone accessories market due to rapid advancements in manufacturing and consumption of the latest technology in the UAE, Brazil, and South Africa. GP Batteries Middle East has announced a Power bank made with no lithium, and it is safe to transport on any airline. GP is the only business worldwide to have created this unique product. For the distribution and marketing of the entire line of GP products, GP also announced the signing of a distribution partnership with two significant local groups in the UAE, JK Group - National Store LLC and ADMMI, one of the largest FMCG distributors in the UAE.
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