According to Goldstein Research, “Smartphone accessories market is driven by fashionable and trendy accessories with advanced innovative technologies. Necessity to protect smartphone from any damage is one of the major drivers propelling of smartphone accessories globally. Furthermore, rising inclination towards gaming and entertainment application is also increasing the demand for wireless accessories across the globe.”
Global smartphone accessories market is categorized on the basis of distribution channel such as online channel and offline channel. Among these segments, online products contribute maximum part in generating revenue and are projected to grow at healthy CAGR. Online sales of smartphone accessories valued USD 41.59 billion in 2015. Online distribution channel projected to hold 73% revenue share of smartphone accessories market in 2024. Availability of wide range of products is providing ease to consumers to have product of their own choice and convenience to shop staying even at home.
Asia pacific holds majority of the share in global smartphone accessories market. Asia pacific smartphone accessories market valued USD 28.7 billion in 2015, is expected to account for over 53% market share during the forecast period. Emerging economies such as India, China, Thailand and Indonesia are powering the demand for smartphone accessories in regional and local market. Change in lifestyle and rising accessibility to the digital world is supporting the expansion of smartphone accessories in Asia-Pacific region.
Innovative and portable accessories are improving ornamental features
Devices such as portable speakers, bluetooth headphones/earphones and power banks are fostering the market demand of smartphone accessories. Cost-effective and efficient products have strengthened the demand and changed consumer’s inclination towards smartphone accessories. People are more cautious to protect their smartphone and prefer use of smartphone accessories to increase longevity. Moreover, smartphone accessories are helping easy and convenient entertainment by wireless connectivity of headphones.
However, apart from advanced features of smartphone accessories they are harmful for health. Low quality bluetooth headphones and speakers are affecting the hearing ability resulting into serious health problems or may lead to hearing aid. Mostly middle class population tend to purchase cheap products apart from their hazardous affects.
“Global Smartphone Accessories Market Outlook 2024” contains detailed overview of the global smartphone accessories market in terms of market segmentation by prices, by product and by distribution channel.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global smartphone accessories market also provides competitive outlook of some of the major players of global smartphone accessories market which includes profiling of companies such as Apple Inc., Smasung Electronics Co. Ltd., Sennheiser Electronics GmbH & Co., Sony Corporation, Bose Corporation, Energizer Holdings Inc., Panasonic Corporation, BYD Company Limited, JVC Kenwood Corporation, Incipio LLC, Plantronics Inc., Philips N.V., Motorola, Inc., Belkin International, Inc., Logitech International SA, Targus Group International Inc., Zagg Inc, Otter Products LLC, Incase Design Corp., Kensington, Griffin Technology and Case Logic. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global smartphone accessories market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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