The global mobile phone accessories market to grow at a CAGR of 6.17% during the period 2016-2020.
Global Mobile Phone Accessories Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
A trend influencing market growth is the growing popularity of wireless accessories. In 2015, the global demand for Bluetooth headsets was 45 million units, which indicates people's inclination toward wireless audio accessories. Music streaming on portable devices is the latest trend seen in the market, which will drive the demand for wireless audio accessories. The increased use of gaming applications and music streaming by Beats Music, Pandora Media, Spotify, and Soundcloud is also a factor that is contributing to the increasing demand for wireless mobile accessories.
According to the report, a key growth driver is the increased smartphone penetration. The high penetration of smartphones is expanding the mobile phone accessories market. In 2015, the number of smartphones shipped around the world was 1.45 billion units. This number will grow significantly during the forecast period owing to the launch of high-end smartphones such as iPhone 7 and Samsung S7 and S7 Edge. The rise in the sales of smartphones has increased the demand for mobile phone accessories also.
Further, the report states that one challenge that could hamper market growth is the decreasing price of mobile accessories.
To calculate the market size, the report considers the revenue generated from the sales of the following mobile phone accessories: