Mobile Accessories Market Overview: Market Trends, Strategies, And Opportunities
Mobile Accessories Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Mobile Accessories Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UK, June 26, 2024 /EINPresswire.com/ -- The global market for mobile accessories, market, encompassing supplementary hardware and add-on devices aimed at enhancing mobile phone functionality and aesthetics, is poised for robust expansion in the coming years. Starting from a market size of $234.04 billion in 2023, it is expected to grow to $252.92 billion in 2024, reflecting a compound annual growth rate (CAGR) of 8.1%. It will grow to $331.43 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. This growth trajectory can be attributed to factors such as the proliferation of smartphones, evolving fashion trends, the rise of e-commerce platforms, increasing durability concerns related to mobile devices, and the integration of multiple functions.
E-commerce Driving Market Growth
The growing prominence of e-commerce platforms is expected to significantly drive the expansion of the mobile accessories market. E-commerce facilitates easy access to a wide array of mobile accessories from various brands, allowing consumers to compare products conveniently and make informed purchase decisions from the comfort of their homes. According to the Boston Consulting Group Inc., e-commerce sales in Europe saw a 3% increase in October 2023, while in the US and Asia, the increase was 7% in 2022. Globally, e-commerce is projected to grow by 9% annually by 2027, further bolstering market growth.
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Key Players and Market Trends
Leading companies in the mobile accessories market include Apple Inc., Google LLC, Samsung Electronics Co. Ltd., Huawei Technologies Co. Ltd., and Sony Corporation. These key players are focusing on innovation to introduce eco-friendly accessories, integrate augmented reality (AR) and virtual reality (VR) capabilities, enhance smartphone cameras, and adopt 5G technology, thereby driving market growth and competitiveness.
Market Segments
The mobile accessories market is segmented by type into Earphones or Headphones, Charger, Power Bank, Protective Cases, and Other Types. It is further segmented by price range outlook (Premium, Medium, Low), sector (Residential, Commercial, Industrial, Retail, Hospitality, Health Care), and distribution channel (Online, Offline).
Regional Insights: North America Leading, Asia-Pacific Growing Rapidly
North America emerged as the largest region in the mobile accessories market in 2023, driven by technological advancements and high consumer spending. Meanwhile, Asia-Pacific is anticipated to witness the fastest growth during the forecast period, supported by expanding smartphone adoption and increasing disposable incomes across emerging economies.
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Mobile Accessories Global Market Report 2024 from TBRC covers the following information:
Market size data for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Mobile Accessories Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on mobile accessories market size, mobile accessories market drivers and trends, mobile accessories market major players, competitors' revenues, market positioning, and market growth across geographies. The mobile accessories market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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