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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 2030, exhibiting a compound annual growth rate (CAGR) of 8.30% during the forecast period (2022 - 2030). 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.


Global Mobile Accessories Market Overview

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.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)


Mobile Accessories Market by Price Range, 2021 & 2030

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