Mobile Phone Accessories Market Set to Reach USD 427 Billion by 2030, Driven by Growing Smartphone Adoption and Shift to Wireless Technology

Mobile Phone Accessories Market Set to Reach USD 427 Billion by 2030, Driven by Growing Smartphone Adoption and Shift to Wireless Technology

According to Next Move Strategy Consulting, the global Mobile Phone Accessories Market was valued at USD 303 billion in 2023 and is forecast to reach USD 427 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4% during the period from 2024 to 2030. In terms of volume, the market was estimated at 9,437 million units in 2023, with projections indicating it will grow to 15,369 million units by 2030, reflecting a CAGR of 7%.

Mobile phone accessories enhance the user experience, providing functional upgrades and personalization options for smartphones. Key products include portable chargers, headsets, data cards, phone covers, and screen protectors, among others. With the growing reliance on mobile phones for communication, entertainment, and business, accessories have become essential for optimizing device performance and aesthetics.

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Market Dynamics and Trends
Several factors are driving the growth of the mobile phone accessories market. The increasing adoption of smartphones, especially in emerging markets, has significantly boosted the demand for accessories. Global smartphone sales are on the rise, with major manufacturers like Samsung, Apple, and Xiaomi leading the charge.

A significant market trend includes the removal of essential accessories such as earphones and chargers from the retail boxes of smartphones by leading manufacturers like Apple, Samsung, and Xiaomi. This shift is largely driven by a desire to increase profit margins. Apple’s introduction of the MagSafe Charger in 2020, sold separately from the iPhone, is a prime example of this strategy.

Additionally, the transition away from wired earphone jacks to wireless audio solutions is accelerating the demand for wireless earphones and Bluetooth headsets, further expanding the market.

However, the market is facing challenges due to concerns over the reliability and safety of third-party accessories. Issues such as overheating and poor-quality chargers can damage devices, posing a potential risk to the market's growth. Despite this, technological advancements, such as the rollout of 5G connectivity and the increasing use of Bluetooth 5.0, are expected to foster the growth of the mobile accessories market by enabling more IoT devices like smartwatches and fitness bands.

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Market Segmentation and Scope
The global mobile phone accessories market is segmented by product type, distribution channel, price range, and geography:

  • By Product: The market includes a diverse range of accessories such as batteries, headphones/earphones, portable speakers, chargers, memory cards, power banks, battery cases, protective cases, Bluetooth speakers, smartwatches, fitness bands, AR/VR headsets, data cables, and selfie sticks.
  • By Distribution Channel: The market is divided into online and offline segments. The online segment is seeing significant growth, with consumers increasingly shopping for accessories through e-commerce platforms.
  • By Price Range: Mobile phone accessories are categorized into low, medium, and premium price ranges, catering to a wide variety of consumer needs.
  • By Geography: The mobile phone accessories market is analyzed across key regions including North America, Europe, Asia-Pacific, and the Rest of the World (RoW).

Geographical Insights
North America holds the largest market share for mobile phone accessories, driven by high smartphone penetration and the popularity of smart devices such as Bluetooth speakers and smart speakers. Companies like Apple Inc. and Bose Corporation are major players in this region. The demand for wireless audio solutions, such as Apple’s HomePod and Bose’s Soundlink speakers, is expected to fuel further growth.

The Asia-Pacific region is poised for steady growth, with countries like China and India seeing an increasing number of smartphone users. The rising popularity of fitness bands and smartwatches in this region is further boosting accessory sales. For example, Xiaomi’s launch of the Mi Band 7 in 2022, with advanced features such as heart rate monitoring and sleep tracking, reflects the growing interest in mobile-connected devices.

Competitive Landscape
The mobile phone accessories market is highly competitive, with numerous key players vying for market share. Prominent companies include:

  • Apple Inc.
  • Samsung Electronics
  • Bose Corporation
  • Xiaomi Corporation
  • Sony Corporation
  • Google
  • Amazon
  • Huawei Technologies Co. Ltd.
  • Skullcandy
  • BYD Company Ltd.

In 2021, Samsung launched the Galaxy Buds Pro, a new generation of Bluetooth earphones with intelligent active noise canceling (ANC) and superior call quality. Similarly, Sony introduced the SRS-RA5000 and SRS-RA3000 wireless speakers, known for their immersive audio technology.

These companies are continually innovating, launching new products, and expanding their presence in various global markets to maintain their leadership positions.

Conclusion
The mobile phone accessories market is expected to continue its robust growth trajectory, driven by factors such as increasing smartphone adoption, the growing trend of wireless technologies, and the rise of connected IoT devices. As consumers increasingly seek ways to personalize and enhance their mobile experiences, the demand for high-quality, functional accessories will remain strong.

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Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analysed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top-quality research and the obsession of turning data into knowledge by dissecting every bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enables them to move beyond time and have competitive edge in the industry.

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