Deep Analysis of Impact of COVID-19 on “Mobile Accessories Market 2019-2025” Growth Worldwide….



The global mobile accessories market size is expected to reach USD 110.6 billion by 2025, expanding at a CAGR of 7.1% in the forecast period, according to a new report by Grand View Research, Inc. Growing smartphone usage among the millennials and frequent technological modification are among the prominent factors propelling the market growth.
Covid 19's rapid development worldwide has led to serious implications for most suppliers of electronics and electrical products, in the form of supply chain disruptions. While the pandemic crisis has decreased the frequency of purchase of consumer appliances, the lead time for delivery of orders has also increased significantly. Limited availability of components, restricted labor supply, and other supply chain related costs are some of the major challenges that most industry players are focusing on at present. The end of the lockdown is expected to bring this industry significantly higher consumer traffic, most notably through the online channels, and the manufacturers will need to design their production plans and distribution networks in tandem with this changing business environment. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.
On the basis of product type, protective cases dominated the market with a share of 31.3% in 2018. The fact that the young consumer group is conscious of safety and security of their mobile phones is among the leading factors for the segment growth. Increasing popularity of the protective screen glasses and trendy covers in anticipated to drive the segment in the near future. Apart from protective cases, headphone is expected to expand at the fastest CAGR of 7.6% in the forecast period. Increasing innovation in the product such as introduction of wireless headsets, coupled with fitness conscious consumer group, is driving the segment.
Based on distribution channel, the offline segment dominated the mobile accessories market and accounted for 69.9% share of the total revenue in 2018. Increasing demand for high-end products such as smartwatch and camera lens, coupled with failure in online deliveries of fragile items, is among the prominent factors driving the segment. The online segment is expected to expand at the fastest CAGR of 7.9% in the forecast period. Integration of artificial intelligence in the online retail sites has led to increase in frequent notifications of mobile accessories. Apart from this, discounts on the product is fuelling the market growth in the recent times.
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Further key findings from the study suggest:
·         By product type, the protective case segment held the largest share of 31.3% in 2018
·         Countries such as UAE and Saudi Arabia are projected to witness significant growth due to increasing demand for smartphones
·         By distribution channel, the online segment is anticipated to expand at a CAGR of 7.9% in the forecast period.
The global mobile accessories market size was valued at USD 68.4 billion in 2018 and is expected to expand at a CAGR of 7.1% over the forecast period. Increasing demand for smartphones as they are the effective means of communication around the globe is expected to drive the market in the forecast period.
Furthermore, increasing demand for wireless devices, coupled with frequent change in the technologies, is driving the market in the near future. For instance, companies are coming up with latest technologies such as wireless headsets and speakers. This has boosted the market demand for the industry in the recent times. Furthermore, increasing adoption of smartphones among teenagers has increased the demand for certain accessories such as mobile covers and headphones as they keep themselves updated with the changing technologies in the market.
Growing young working population has also fueled the market growth to a great extent in the recent times. Changing outlook of the consumer group has also influenced the market growth. The women consumer group prefers to change their phone covers frequently, which in turn, impacts the overall market growth. On the other hand, the men consumer group prefers to change other accessories such as headphones and fast-chargers.
The fact that the products make the usage of mobile phone simpler and smooth, thereby making it popular among the consumers. For instance, introduction of smartwatches has made it simpler to see the notification and calls without taking out the phone from the pocket. Innovation of power bank has made it simpler for the consumers who use smartphones extensively and has to travel frequently.
Increasing quality and features of the smartphones with decreasing prices has led to an increase in the number of consumers for the product, which eventually increases the demand for safety and security of the phones. The consumer in the modern times don’t bother to go an extra mile to keep their phone safe, trendy, and vogue. Increasing internet penetration, coupled with artificial intelligence incorporated by the online retailers that gives pop-up notification to the users about the product, is also a prominent factor for the market growth.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-mobile-accessories-market
Grand View Research has segmented the global mobile accessories market on the basis of product type, distribution channel:
Mobile Accessories Product Type Outlook (Revenue, USD Billion, 2015 - 2025)
·         Earphones/Headphones
·         Charger
·         Power Bank
·         Protective Cases
·         Others
Mobile Accessories Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
·         Online
·         Offline
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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