Published on: 5th Nov 2015
ABI Research expects that global revenues for mobile accessories will reach USD81.5 billion in 2015 and is forecast to grow to USD101 billion in 2020 at a compound annual growth rate (CAGR) of 4.3%. Protective carry cases is the top growing category, contributing the most to aftermarket mobile accessories shipments, 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 Marina Lu, Research Analyst at ABI Research.
The headset market will grow fastest among the categories in terms of revenue, and the shipment is forecast to grow at a CAGR of 5.7% over the period 2015 to 2020. Bluetooth headset shipments are increasing steadily, especially those with stereo headsets, despite continued strong unit shipments of wired headsets.
The highest average sales price in mobile accessories is commanded by the headsets category since consumers feel more comfortable making large investments in headsets.
In addition to advances in technology, including smartphone proliferation, features like noise cancelling and large amount of music content on the devices, the ‘bling’ factor from premium brands such as Beats also helps consumers to open their wallets.
Asia-Pacific will account for 52.9% of all mobile accessories shipments. The large population base in Asia combined with cost competitive smartphones has accelerated remarkable growth in mobile accessories in the region. China holds huge opportunities for accessories due to its large existing and potential consumer base, rapid growth of smartphone and tablet adoption, a growing online retail market and increasing disposable incomes.
“Aside from these significant factors, consumers who use mobile devices as fashion accessories will further drive sales of the mobile accessories market worldwide,” adds Lu.