LONDON--(BUSINESS WIRE)--Apr 15, 2019--The global mobile phone accessories market is expected to post a CAGR of over 4% during the period 2019-2023, according to the latest market research report by Technavio.
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The global mobile phone accessories market will post a CAGR of over 4% during the period 2019-2023 (Graphic: Business Wire)
One of the prominent factors propelling the customers to opt for mobile phones accessories is the level of convenience offered by the additional components. The adoption of wireless accessories offers customers with the convenience of portability without the wire. Increased customer preference for accessing digital content such as gaming applications, social networking, music, and movies on portable devices while they are on the move has augmented the demand for wireless accessories. Therefore, the demand for mobile phone accessories such as chargers, headphones, earphones, speakers, and power banks, in the wireless category, is increasing.
As per Technavio, the increasing focus on improving telecommunication network infrastructure will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global mobile phone accessories market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global mobile phone accessories market: Increasing focus on improving telecommunication network infrastructure
Smartphone manufacturers, government organizations, and telecommunication service providers are working together to improve the telecommunication network infrastructure to support high network bandwidth capacity. This is accelerating investments in the 4G/5G networks and developments in 4G/5G compatible devices. The increasing focus on expanding the telecommunication network coverage by various government organizations across the globe is driving investments in the telecommunication networks infrastructure. This has provided an impetus for the adoption of various network technologies such as 4G and is paving the way for the forthcoming adoption of high-speed 5G networks. This, in turn, will accelerate the use of mobile phones for accessing online audio and video content, which will result in high demand for mobile phone accessories.
“Along with the increasing focus on improving telecommunication network infrastructure, the proliferation of low-priced smartphones is one other factor boosting the growth of the global market. The availability of low-priced smartphones is increasing in countries such as India, Vietnam, Sri Lanka, and Pakistan. This has resulted in ample opportunity for the vendors of the global mobile phone accessories to boost their sales,” says a senior analyst at Technavio.
Global mobile phone accessories market: Segmentation analysis
This market research report segments the global mobile phone accessories market by product (protective cases, screen protectors, headphones and earphones, wired chargers, power banks, portable speakers, SD cards, wireless chargers, batteries, and other products) and geographical regions (APAC, North America, Europe, South America, and MEA).
The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to the growing investment in telecommunication infrastructure and the increasing penetration of smartphones.
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Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
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- Market positioning of vendors
- Competitive scenario
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SOURCE: Technavio Research
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PUB: 04/15/2019 10:14 AM/DISC: 04/15/2019 10:14 AM