Mobile phone accessories are collection of hardware that help in enhancing the functionality of mobile devices. Mobile phone accessories help consumers to protect their phone from being snatched or breakage and enable listening to music through headsets. Mobile phone accessories include, Bluetooth, portable speaker, power bank, headphones, and others. Mobile phone accessories help to keep the mobile phones safe from damage and also make smartphones look trendy.
Browse Complete Report For More Information @ https://www.coherentmarketinsights.com/market-insight/mobile-phone-accessories-market-2070
Key players such as Apple, Inc., Samsung, Panasonic Corporation, and others are focused on investments and R&D to increase the functionality and features of smartphones. This in turn is expected to help companies to differentiate their products from competitors and maintain strong presence in the market. For instance, according to the Coherent Market Insights’ analysis, Samsung Electronics Co invested US$ 12.6 billion on mobile research and development (R&D) activities in 2015 for developing new technology and products, which further increases the demand for mobile phone accessories during the forecasted period.(2018-2026).
The increasing adoption of smartphones worldwide is one of the key factors driving growth of the market. For instance, according to the Coherent Market Insights analysis, the sale of smartphone in 2014 was 367,334.7(thousand units) and reached to 403,109.4 (thousand units) in 2015 worldwide.
Mobile phone protective case accounted for the largest market share in 2017
On the basis, of product type the protective case accounted the largest market share in 2017 and expected to remain largest during the forecast period (2018-2026), owing to increasing demand of wireless accessories. The factor attributed to growth of the market is technological advancements in various audio devices that have transformed the fashion of listening music. This factor is expected to increase demand for wireless audio devices such as portable Bluetooth speakers. Moreover, Bluetooth speakers provide hassle free maintenance, increased durability, and good functionalities that attract consumer towards the adoption of Bluetooth for their devices. Such high adoption of wireless devices is expected to fuel growth of the market during the forecast period (2018-2026).
Asia Pacific mobile accessories market accounted for the largest market share during forecast period.
Asia Pacific exhibited the largest market share over the forecast period, owing to increasing number of smart phones users in emerging economies such as India and China. For instance, according to the Coherent Market Insights analysis, 28.5% people in India used smartphones in 2016 and the number increased to 32.3% in 2017. Similarly, China registered 52.9% smartphone users in 2016 and the number increased to 56.8% in 2017. The rise in number of smartphone users in Asia Pacific is due to increasing number of internet users in the developing economies such as India and China. For instance, according to the Internet World Stats, in China, number of internet users in 2015 was 705.9 million and it increased to 721.4 million in 2016.Similarily, in India the number of internet users was 354.1 million in 2015 and it increased to 462.1 million in 2016. Therefore, increasing number of internet users is expected to boost sales of smartphones, which in turn is expected to propel demand for mobile phone accessories in the region.
Major players operating in the global mobile accessories market include, Samsung Electronics Co., Ltd., Sony Corporation, Panasonic Corporation, Apple, Inc., JVC Kenwood Corporation, Plantronics, Inc., Bose Corporation, Griffin Technology, Otter Products, LLC, Sennheiser Electronics GmbH & Co. KG and others.
Inquire Here Before Purchase of Research Report @ https://www.coherentmarketinsights.com/insight/talk-to-analyst/2070