VALLEY COTTAGE, N.Y., Aug. 21, 2015 (GLOBE NEWSWIRE) -- Future Market Insights (FMI) delivers key insights on the Global Mobile Phone Accessories Market in its latest report titled "Mobile Phone Accessories Market: Global Industry Analysis and Opportunity Assessment, 2015 - 2025". The global mobile phone accessories market is anticipated to expand at a CAGR of 6.9% during the forecast period due to various factors, regarding which FMI offers fundamental insights in detail in its report.
On the basis of type, the market has been segmented into protective case, headphone/earphone, charger, memory card, battery, power bank, portable speaker and others. The protective case segment accounted for 20.5% share in the global mobile phone accessories market in 2014, and is expected to expand at a CAGR of 5.9% over the forecast period. The power bank segment is expected to expand at a robust CAGR of 9.0% over the forecast period.
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The market is also segmented on the basis of distribution channel into multi-brand store, single-brand store and online store. Multi-brand store is further sub-segmented into organized store and independent store. The contribution of online store segment to the global mobile phone accessories market was 25.4% in 2014 which expected to reach 31.9% by 2025, expand at a CAGR of 9.1% during the forecast period. The industry is also segmented on the basis of price range into premium, mid and low. The low segment is anticipated to expand at a CAGR of 7.2% during the forecast period.
Growth of the global mobile phone accessories market is majorly driven by inclining population, rising urbanization, rising penetration of smartphones and strong distribution network worldwide. Rising adoption of mobile phone accessories, especially in developing regions such as Latin America and Asia Pacific, fostered by inclining disposable income has bolstered growth of the mobile accessories market over the last few years. Adoption of smartphones across countries such as China, Indonesia and Brazil is growing at a rapid pace, linked to inclining Internet penetration and rising social networking in these countries. Increasing trend of mobile shopping and e-banking is strengthening demand for smartphones across the globe. This, in turn, is supporting growth of the mobile accessories market.
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This report covers trends driving each segment and respective sub-segments and offers analysis and insights about the potential of the mobile phone accessories market in specific regions. By region, Asia Pacific Excluding Japan (APEJ) dominated the mobile phone accessories market with 47.4% market share in 2014 and is anticipated to remain dominant by the end of 2025. This is attributed to higher adoption of smartphones along with significant growth of e-commerce in the region. Moreover, factors such as growing urban population and rising disposable income in the region is also supporting market growth. North America and Western Europe collectively accounted for over 30.6% share of the overall mobile phone accessories market in 2014. Among all regions, APEJ is anticipated to register highest CAGR between 2015 and 2025, followed by Latin America and Middle East and Africa, owing to proliferation of smartphones in these regions.
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Key players in the global mobile phone accessories market include BYD Inc., Energizer, Sony Corporation, Samsung Electronics, Panasonic Corporation, JVC Corporation, Beats (Apple Inc.), Plantronics Pty Ltd, Sennheiser Electronics GmbH & Co. KG, Bose Corporation, Otterbox, and Griffin Technology. Geographical expansion, product innovations and new product launches as well as merger and acquisitions are some of the major strategies followed by key players operating in the mobile phone accessories market to outperform competitors.
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Source: Future Market Insights