Valley Cottage, NY -- (SBWIRE) -- 11/29/2016 -- Future Market Insights (FMI) delivers key insights on the Global Mobile Phone Accessories Market in a report titled "Mobile Phone Accessories Market: Global Industry Analysis and Opportunity Assessment, 2015 - 2025". The global mobile phone accessories market is anticipated to expand at a CAGR of 6.9% during the forecast period. In this report, FMI offers fundamental insights into the various factors impacting this growth.
Market projections based on segmentation
- The protective case segment accounted for 20.5% share in the global mobile phone accessories market in 2014 and is expected to expand at a CAGR of 5.9% over the given period
- The power bank segment is expected to grow at a robust CAGR of 9.0% during this period
- The contribution of the online store segment to the global mobile phone accessories market is expected to reach 31.9% by 2025, expanding at a CAGR of 9.1% during the forecast period
- The low segment is anticipated to expand at a CAGR of 7.2% during the said period
Growth of the global mobile phone accessories market is largely driven by growing population, increasing disposable income, rising urbanisation, deeper penetration of smartphones, and a strong global distribution network. Rising adoption of mobile phone accessories especially in developing regions such as Latin America and Asia Pacific has bolstered market growth over the last few years. Adoption of smartphones across countries such as China, Indonesia, and Brazil is growing at a rapid pace, linked to wider internet penetration and rising social networking in these countries. E-commerce and e-banking have accentuated the demand for smartphones globally and this in turn is supporting the growth of the mobile accessories market.
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This report focuses on the trends driving each segment and respective sub-segments and offers analysis and insights on the potential of the mobile phone accessories market in specific regions.
- Asia Pacific Excluding Japan (APEJ) dominated the mobile phone accessories market with 47.4% market share in 2014 and is anticipated to remain dominant till the end of 2025
- APEJ is also expected to register the highest CAGR between 2015 and 2025, followed by Latin America and Middle East and Africa
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Key players in the global mobile phone accessories market today include BYD Inc., Energizer, Sony Corporation, Samsung Electronics, Panasonic Corporation, JVC Corporation, Beats (Apple Inc.), Plantronics Pty Ltd, Sennheiser Electronics GmbH & Co. KG, Bose Corporation, Otterbox, and Griffin Technology. Given the stiff competition in the mobile phone accessories market, key players are adopting strategies such as geographical expansion, product innovations and new product launches, and mergers and acquisitions to gain a competitive edge.