Mobile Accessories Market Trends

Growth Drivers

• Growing integration of smartphones - Escalating utilization of mobile phones among all age groups of people is a notable factor boosting the mobile accessories market demand As more people buy smartphones, the demand for accessories such as phone cases, screen protectors, chargers, and headphones is on the rise. The new category developments in accessories have been due to the development of technologies for cell phones. Around 72% of the world's mobile phone owners will be able to access the internet only through their phones by 2025.
• Introduction to smartwatch - The fact that these products make the use of mobile phones easier and more convenient for consumers, which is why they are popular. It's easier to see the notifications and calls when you don't take a phone out of your pocket, like with smartwatches. For consumers who are frequent users of smartphones and travel frequently, the innovation of power banks has simplified their lives.

Challenges

• Lack of standardization - With so many different phone models available in the market, it can be challenging to find accessories that are guaranteed to fit. This can be frustrating for consumers and lead to lost sales for manufacturers.
• Rapid technological change is set to hinder market growth in the upcoming years.
• Price sensitivity is predicted to hamper the growth of the market during the forecast period