Thursday, November 26, 2015

Mobile Accessory Market to Reach US$81.5 Billion at the End of 2015

Mobile phones have been increasing in number since its adaptation and acceptance as a necessity in today’s modern world. Different varieties and model of mobile phones are constantly being introduced in the global market. The demand has since soared higher. Along with this, mobile phone accessories which enhance a phone’s feature have also been doubling sales and supply.

According to a market review released by The Peterson Group, distributor and wholesaler of mobile phone accessories and laptop peripherals from Taiwan, smartphone penetration is driving a shift of accessory design to smart accessories that attract higher level of consumer interaction, product value and brand recognition. Statistics in the study conducted in the review shows that a consumer is estimated to spend $100 for mobile phone accessories every year. The same study also concludes that mobile phone accessories are more likely to be replaced than the smart phone device itself. It does not even matter if the replacement or the new mobile accessory is fraud. Trend is more important than the quality. This conception is popular among developing cities especially in mobile-driven societies such as Jakarta, Indonesia and Kuala Lumpur, Malaysia.

Now that 2015 is about to end, more reviews are being released regarding the latest statistics in the market.

ABI Research, for instance, expects that global revenue for mobile accessories will reach US$81.5 billion at the end of the year and is forecasted to grow to US$101 billion in 2020. This is a big leap from the forecasted $20 billion last 2012. Protective carrier cases and power banks have the largest market share among these accessories considering the amount of shipments across the globe. This is to be followed by chargers, screen protectors and headsets.

“The thinness and lightness of a smartphone makes a protective case a necessity, and new features with cases, such as wireless charging and digital payment, will likewise drive the protective cases market”, says an analyst of ABI Research.

In the next couple of years, headset is also expected to outcompete other mobile accessories as it gradually develops into wireless and Bluetooth connected. The highest average sales price in mobile accessories is commanded by the headsets category since consumers feel more comfortable making large investments in headsets.

Asia-Pacific has the highest number of consumers of mobile phone accessories amounting to more than 50% of the total shipment.

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