Originally published on Technavio:Mobile Phone Accessories Market Analysis Across APAC, North America, Europe, South America, and Middle East and Africa - Covering US, Canada, China, India, Brazil - Size and Forecast 2024-2028

Forecast for Mobile Phone Accessories Market
The Mobile Phone Accessories Market Size is anticipated to witness an expansion of USD 34.21 billion, registering a Compound Annual Growth Rate (CAGR) of 5.18% from 2023 to 2028. This growth projection is contingent upon several factors, including the infusion of advanced functionalities in smartphones, an escalating inclination towards wireless mobile accessories,

Market Overview
Market Growth Analysis Driver
The pivotal factor propelling market growth is the increasing preference for wireless mobile phone accessories. There is a discernible trend in customer inclination towards wireless mobile add-ons, driven by the enhanced convenience offered by these components. The adoption of wireless accessories provides customers with the portability advantage, eliminating the need for cumbersome wires.

Market Growth and Trends
A primary trend shaping market growth is the increasing use of social networking applications. With the rising popularity of platforms like Instagram, TikTok, and Snapchat, there is a growing demand for phone accessories to enhance the social media experience. Accessories such as phone holders, selfie sticks, and improved camera lenses are meeting the needs of users actively engaged in creating content for social media. Additionally, wireless earbuds and headphones are gaining popularity due to the increasing trend of content consumption on platforms like YouTube and podcasts.

Market Restraint
A challenge affecting market growth is the declining demand for mobile batteries and SD cards. The diminishing demand for batteries and SD cards is attributed to mobile phone original equipment manufacturers (OEMs) incorporating products with built-in batteries and higher internal memory. OEMs are integrating high internal memories into their products, offering superior speed and efficiency compared to SD memory cards.

Market Segmentation By Distribution Channel
The offline segment is expected to hold significant prominence during the forecast period. Offline distribution channels encompass product sales through retail outlets. Although retail stores dominate this segment, the increasing popularity of hypermarkets and supermarkets as shopping destinations is anticipated to propel the growth of the global mobile accessories market. Department stores, in particular, serve as one-stop solutions for premium phone accessory purchases, providing a wide range of products that drive segment growth.

Mobile Phone Accessories Market Size

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The offline segment exhibited a gradual increase, holding a market share of USD 76.83 billion in 2018. Additionally, offline distributors tailor their products according to brands, enhancing customer service. The rising availability of mobile accessories across various offline distribution channels, including mobile shops, departmental stores, and other retail outlets, is expected to drive global demand for mobile accessories. This, in turn, will fuel the revenue growth of the offline segment, contributing to market expansion during the forecast period.

Market Segmentation By Product
Protective cases for mobile devices provide a robust structure and shield against damage from accidental bumps and drops. These protective cases can be manufactured from various materials, including silicone, carbon fiber, plastic, metal, and leather. The market offers different types of protective cases, ranging from slim and transparent covers for aesthetic purposes to ultra-sturdy designs capable of withstanding intense impact.

Moreover, the market segment's high growth potential has led to increased partnerships among market participants, including protective case manufacturers and mobile OEMs. Leading players, such as Apple, frequently introduce new battery-integrated protective cases for their upcoming products. This trend is expected to drive the growth of the protective cases segment, subsequently contributing to market expansion during the forecast period.

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Mobile Phone Accessories Market Share by Geography

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Asia-Pacific (APAC) is estimated to contribute 67% to global market growth during the forecast period. Technavio's analysts have provided comprehensive insights into market forecasts, detailing regional trends and drivers influencing the market trajectory. The APAC phone accessories market is witnessing growth due to an increased demand for smartphones and tablets, notably in countries such as India, China, and Southeast Asian nations.

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