Mobile device accessories: Key market research findings
- Increasing preference for smart devices drives market growth
- Offline retail accounts for majority of the market’s revenue
- Key vendors – Beats (Apple), Incipio, Samsung Electronics, and Sony
Technavio’s market research analysts predict the global mobile device accessories market to grow at a CAGR of almost 6% between 2016 and 2020. The increasing preference for smart devices over desktops is the primary driving force behind growth in this market. The global mobile device accessories market is influenced by the sales of desktops, smartphones, and tablet devices. Vendors are developing mobile device accessories based on consumer needs by leveraging widespread applications of smartphones. During 2015, the APAC region dominated the global mobile device accessories market by accounting for almost 53% of the overall market share. The ever-growing consumer base for mobile devices and mobile accessories because of the high population density in the region is expected to fuel growth in the mobile device accessories market in APAC through 2020.
The new market research report from Technavio presents a breakdown and analysis of the mobile device accessories segments based on the distribution channel.
“Of late, the demand for wireless mobile device accessories is skyrocketing. This trend is spurred by an increase in the number of people listening to music on portable devices such as smartphones and tablets, music and the increasing preference for streaming music and videos online. The majority of the demand for wireless accessories is accounted by the high demand for wireless audio accessories such as wireless headsets and wireless speakers. The rising adoption of wireless chargers is also expected to reflect positively on the wireless mobile device accessories market globally,” says Ujjwal P. Doshi, Lead Analyst, Media & Entertainment, Technavio Research
The offline segment accounted for the majority of the market’s revenue in 2015 by occupying close of 74% of the overall market share. The offline distribution channels represent the brick-and-mortar segment of mobile accessories. The high growth of the offline segment is augmented by the consumers’ preference for the “touch-and-feel” experience. However, the market share for the offline segment is expected to witness a decline during the forecast period owing to the increasing popularity of online retail.
The key vendors in the market include Beats (Apple), Incipio, Samsung Electronics, and Sony. The global mobile device accessories market is highly competitive owing to the presence of well-established global players. The vendors compete on the basis of product differentiation, portfolio, and pricing, and the competition will intensify due to increasing product extensions.
A more detailed analysis is available in the Technavio report, Global Mobile Device Accessories Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
