Global Mobile Phone Power Accessories Market Overview 2024: Size, Drivers, And Trends
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033
The Business Research Company’s Mobile Phone Power Accessories Global Market Report 2024 offers crucial insights into the mobile phone power accessories market help businesses analyse and build stronger strategies.
The mobile phone power accessories market has experienced significant growth in recent years, driven by increased smartphone penetration, technological advancements, and rising disposable incomes. This blog explores the market’s growth trajectory, key drivers, major players, and emerging trends.
Market Size and Growth Forecast
- Rapid Growth: The market size grew from $34.91 billion in 2023 to $37.48 billion in 2024, at a compound annual growth rate (CAGR) of 7.3%.
- Future Projections: By 2028, the market is expected to reach $50 billion, growing at a CAGR of 7.5%.
- Key Factors: Growth is fueled by the 5G rollout, increased mobile users, technological innovations, and the rise of IoT devices.
Key Drivers of Market Growth
Rising Smartphone Adoption
- Increased Usage: The rising adoption of smartphones is a primary driver of growth in the mobile phone power accessories market.
- Enhanced User Experience: Improved affordability and competitive pricing contribute to higher smartphone usage.
- Growing Internet Penetration: The demand for online services further boosts smartphone sales, thereby increasing the need for power accessories.
- Case Example: In February 2024, the number of mobile connections in the UK rose to 71.8 million, a 3.8% increase from 2021. By 2025, 95% of the UK population is expected to own smartphones.
Read The Full Mobile Phone Power Accessories Market Report Here:
Major Players in the Market
- Key Companies: The market is dominated by industry giants such as Apple Inc., Samsung Electronics Co. Ltd., Huawei Technologies Co. Ltd., and Sony Corporation.
- Others: Other notable players include Xiaomi Corporation, Energizer Holdings Inc., Anker Innovations Technology Co. Ltd., and Belkin International Inc.
- Market Presence: These companies continue to innovate and expand their product offerings to meet growing consumer demands.
Emerging Trends in the Market
Innovation in Sustainable Charging Devices
- Consumer Demand: There is a growing demand for environmentally friendly products.
- Sustainable Solutions: Companies are innovating to create sustainable charging devices that reduce environmental impact.
- Example: HARMAN International launched eco-friendly power accessories under InfinityLab, using 90% recycled plastic and focusing on energy efficiency.
Wireless and Fast Charging Solutions
- Convenience: The trend toward wireless and fast charging solutions is reshaping the market.
- Portability: Portable power banks and multi-functional accessories are becoming increasingly popular among consumers.
Market Dynamics: Mergers and Acquisitions
Hemilton Group’s Strategic Acquisition
- Expansion: In March 2024, Hemilton Group acquired the Israel operations of Anker Innovations Co. Ltd.
- Benefits: The acquisition enhances Hemilton’s market reach, product portfolio, and distribution network in Israel.
- Strategic Growth: This move aligns with Hemilton’s objectives for regional expansion and innovation through R&D collaboration.
Product Segmentation and Regional Insights
Product Segmentation
- Types: The market is segmented into power banks, wireless chargers, battery cases, and portable chargers.
- Charging Capacity: Products are further categorized by charging capacity—below 5,000 mAh, 5,000 to 10,000 mAh, and above 10,000 mAh.
- Distribution Channels: Sales are conducted through online and offline retail channels.
Regional Insights
- Asia-Pacific Leadership: Asia-Pacific was the largest region in the mobile phone power accessories market in 2023, driven by the region’s large smartphone user base and rapid technological adoption.
Conclusion
The mobile phone power accessories market is poised for continued growth, driven by increasing smartphone adoption, technological innovations, and emerging trends like sustainable and fast charging solutions. With major players continuously innovating and expanding their market presence, the future of this market looks promising.
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The Mobile Phone Power Accessories Global Market Report 2024 provides a comprehensive outlook of the mobile phone power accessories market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The mobile phone power accessories market forecast offers a thorough analysis on mobile phone power accessories market size, mobile phone power accessories market share, prominent players and their strategies.
The Table Of Content For The Mobile Phone Power Accessories Market Include:
1. Mobile Phone Power Accessories Market Executive Summary
2. Mobile Phone Power Accessories Market Segments
3. Mobile Phone Power Accessories Market Size And Mobile Phone Power Accessories Market Growth Rate
4. Key Mobile Phone Power Accessories Market Trends
5. Major Mobile Phone Power Accessories Market Drivers
……
25. Key Mergers And Acquisitions In The Mobile Phone Power Accessories Market
26. Top Mobile Phone Power Accessories Companies
27. Mobile Phone Power Accessories Market Opportunities And Strategies
28. Mobile Phone Power Accessories Market, Conclusions And Recommendations
29. Appendix
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