Rapid Market Growth for Mobile Phone Accessories Market

The global mobile phone accessories market was valued at $92.76 billion in 2021 and is projected to grow to $151.97 billion by 2028, with a compound annual growth rate (CAGR) of 7.3% from 2021 to 2028, according to a recent report by Coherent Market Insights. The rising popularity of high-end smartphones worldwide has significantly increased the demand for protective accessories such as covers, cases, and screen protectors. Since these expensive devices are more susceptible to damage from accidental drops or falls, users tend to invest in affordable protective solutions like covers and screen guards to safeguard their devices.

Mobile Phone Accessories Market Driver

The expansion of the mobile phone accessories market is fueled by the growing adoption of smartphones and advancements in accessory technology, particularly with wireless headphones. Statista reported that there were over 3.5 billion smartphone users worldwide in 2022. The increasing number of smartphone users has resulted in a higher demand for various mobile phone accessories, including power banks, chargers, earphones, headphones, and protective cases. Additionally, the rise of wireless technology in headphones and earphones has become extremely popular among consumers seeking convenience and portability, further driving market growth.

Market Product Trends

Protective covers and cases remain the largest and fastest expanding segment of products. The demand for these items is driven by enhanced durability features and a wide range of designs available in protective accessories. Additionally, the trend of wireless audio devices is becoming increasingly popular. Bluetooth-enabled wireless headphones and earphones are quickly replacing wired options due to their ease of connectivity and freedom of movement. Major manufacturers are concentrating on incorporating the latest technologies, such as Active Noise Cancellation (ANC), into headphones to align with evolving consumer preferences. There is also significant growth in USB chargers, attributed to their universal compatibility and capability to charge multiple devices with one charger. Furthermore, portable battery packs are seeing rising demand as smartphone battery life struggles to keep up with longer usage times.