![]() ![]() The headphone segment is expected to register a CAGR of 7.6% during the forecast period. Furthermore, innovation in the material type compatibility of the cases with certain smartphones, such as apple, prefer special kind of cases to highlight the logo at its back is propelling the market growth in the forecast period. Increasing demand for cases due to frequent change in the product in the female consumer group is anticipated to drive the market. The protective cases segment accounted for a leading share of 31.3% in 2018 and is expected to witness significant growth in the near future. On the basis of product type, the market is segmented into earphones and headphones, charger, power bank, and protective cases. These are the prominent factors boosting the market growth in the stipulated time frame. Moreover, the young working consumer groups with hectic schedule prefer to buy online rather than offline due to easy access and doorstep service. Increasing internet penetration in rural areas, faster and trusted delivery by various online portals, and replacement options are driving the segment. The online segment is anticipated to expand at a CAGR of 7.9% over the forecast period. Traditional method of shopping and difference in price in local retail outlets and other wholesale markets are the reasons for the segment growth. Increasing demand for the costly devices such as smartwatch and mobile camera lens and perception of issues with the delivery of fragile items are propelling the segment growth. The offline segment dominated the mobile accessories market and accounted for 69.9% share of the overall revenue. 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. The consumer in the modern times don’t bother to go an extra mile to keep their phone safe, trendy, and vogue. 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. Innovation of power bank has made it simpler for the consumers who use smartphones extensively and has to travel frequently. For instance, introduction of smartwatches has made it simpler to see the notification and calls without taking out the phone from the pocket. ![]() The fact that the products make the usage of mobile phone simpler and smooth, thereby making it popular among the consumers. On the other hand, the men consumer group prefers to change other accessories such as headphones and fast-chargers. The women consumer group prefers to change their phone covers frequently, which in turn, impacts the overall market growth. Changing outlook of the consumer group has also influenced the market growth. Growing young working population has also fueled the market growth to a great extent 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. This has boosted the market demand for the industry in the recent times. ![]() ![]() For instance, companies are coming up with latest technologies such as wireless headsets and speakers. 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.įurthermore, increasing demand for wireless devices, coupled with frequent change in the technologies, is driving the market in the near future. 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. ![]()
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