Notes

Mobile Market Forecast for the next 10 Years

The mobile phone accessories market has grown substantially in the recent years with the great opportunities due to the expansion and demand of technology. The adoption to smartphones has led to the increasing penetration of mobile phone accessories for further enhancement of their features. Moreover, the decreasing cost of mobile phones have surged the growth of accessories. The youth and middle incomers now have the chance to avail of the products which was once possible purchased by those with disposable income.

The necessity of the internet among students and professionals alike and the ease of access of communication to everyone enabled the growing trend of mobile phone and its accessories. As the Peterson Group, one of Taiwan’s largest distributors of mobile phone accessories and laptop peripherals, there is a boost in the market because of the convenience of cash on delivery payment option and various price discounts and wide variety of products offered by e-retailers. This is anticipated to catalyze growth of the global mobile phone accessories market.

In a couple more years, the surging growth of global mobile accessories market is anticipated to continuously expand at a high Compound Annual Growth Rate (CAGR). By 2025, more and more gadgets will be invented and discovered as the market will be driven mainly by increasing disposable income, rising urbanization and higher adaptation of smartphones worldwide.

According to reviews, telecommunication providers also add to the increasing number of adaptation of smart phone accessories. Major trends observed in the market rising merger and acquisitions, diversification of product portfolio and product advancement as well as new product development across the globe. Even developing countries are into this trend. In fact, Kuala Lumpur, Malaysia and Jakarta, Indonesia are considered leaders in mergers and acquisition with the number of Information Technology companies being merged by and to other companies.

The global mobile phone accessories market can be segmented on the basis of product type into protective case, headphone/earphone, charger, memory card, battery, power bank, portable speaker and others. The protective cases segment accounted for highest share in the global mobile phone accessories market in 2015, and is expected to expand at a significant CAGR in ten years. Besides this, headphone/earphone and chargers segment is anticipated to account for major revenue share in the global mobile phone accessories market.

The only problem involving in this trend is the increasing number of fraud accessories being distributed in the market. With this issue still prevailing, the competition is not only between legit manufacturers creating the latest of mobile accessories but among scammers and counterfeiters as well.