The mobile phone accessories market is projected to rise at a compound annual growth rate (CAGR) of 6.89% to reach a market valuation of US$137.432 billion by 2029, from US$86.221 billion in 2022.
In 2021, mobile technologies and services contributed 5% to the global Gross Domestic Product (GDP), generating economic value added of $4.5 trillion. The mobile ecosystem also sustained roughly 26 million jobs, both directly and indirectly, and made a significant contribution to public sector funding, generating nearly $500 billion in taxes from the sector. By 2025, mobile's contribution is expected to increase by over $400 billion, reaching nearly $5 trillion, as countries worldwide increasingly benefit from the enhanced productivity and efficiency resulting from greater adoption of mobile services.
With mobile technologies contributing significantly to global GDP and sustaining millions of jobs, there is a growing consumer base with purchasing power for accessories such as cases, screen protectors, chargers, and headphones. Additionally, the substantial contribution of the mobile ecosystem to public sector funding indicates a thriving industry with potential for continued growth.
The projected increase in mobile's contribution by 2025 suggests a further expansion of the market for mobile phone accessories. As countries benefit from improved productivity and efficiency driven by greater adoption of mobile services, consumers are likely to invest in accessories to optimize their mobile experiences. Overall, the data underscores the strong market demand for mobile phone accessories driven by the widespread use and economic significance of mobile technologies and services. By the conclusion of 2023, it was projected that 25 percent of mobile data traffic would be attributed to 5G networks, up from 15 percent recorded in 2022. This percentage is anticipated to rise substantially to 76 percent by 2029.
Furthermore, As more consumers transition to 5G-enabled devices to take advantage of faster data speeds and improved connectivity, there will likely be a surge in demand for compatible mobile phone accessories.
Accessories such as 5G-compatible cases, screen protectors, chargers, and antennas will become essential for users looking to optimize their 5G experience and protect their devices. Additionally, the increased adoption of 5G technology may drive the development of new accessory categories specifically tailored to capitalize on the unique features and capabilities of 5G networks. Overall, the projected growth of 5G in mobile data traffic presents a significant opportunity for the mobile phone accessories market. As consumers seek to harness the full potential of 5G technology, the demand for compatible accessories is expected to rise, driving further innovation and growth in the accessories industry.
Rapid improvements in lifestyle and increase in disposable incomes have propelled the demand for consumer electronics, and the growing trend of advanced technological adoption has bolstered smartphone penetration in Japan. In December 2022, Japan's mobile subscriber count stood at 20,76,47,788 individuals, showing growth from the previous figure of 20,04,78,808 individuals in December 2021. As more individuals own smartphones and other mobile devices, the demand for accessories such as phone cases, screen protectors, chargers, and headphones is likely to rise. With a larger user base, there is a greater need for accessories to personalize, protect, and enhance the functionality of mobile devices. Additionally, as mobile technology advances and new features are introduced, consumers may seek out compatible accessories to optimize their mobile experience. Overall, the expanding mobile subscriber base in Japan presents significant opportunities for businesses in the mobile accessories market to meet the evolving needs and preferences of consumers.
Additionally, the rise in cashless payments has a significant impact on the market for mobile phone accessories in Japan. As more individuals opt for cashless transactions, there is a greater reliance on smartphones for making payments using various methods, such as credit/debit cards, electronic money, and mobile payment codes. In 2022, the proportion of cashless payments in Japan experienced a steady increase, reaching 36.0% (111 trillion yen). Breaking down this ratio by payment methods, credit cards constituted 30.4% (93.8 trillion yen), debit cards accounted for 1.0% (3.2 trillion yen), electronic money comprised 2.0% (6.1 trillion yen), and code payments made up 2.6% (7.9 trillion yen). This increased usage of smartphones as payment devices creates a higher demand for mobile phone accessories like protective cases, screen protectors, and portable chargers to ensure the safety, functionality, and convenience of these devices during cashless transactions. Additionally, the integration of mobile payment apps and services may drive the demand for accessories like NFC-enabled cases or cardholders, further enhancing the user experience and expanding the market for mobile phone accessories in Japan.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Mobile Phone Accessories Market Size in 2022 | US$86.221 billion |
| Mobile Phone Accessories Market Size in 2029 | US$137.432 billion |
| Growth Rate | CAGR of 6.89% |
| Base Year | 2022 |
| Forecast Period | 2024 – 2029 |
| Forecast Unit (Value) | USD Billion |
| Segmentation |
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| Geographical Segmentation | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| List of Major Companies in Mobile Phone Accessories Market | |
| Customization Scope | Free report customization with purchase |
Segmentation: