Mobile Phone Power Accessories Market Size, Share & Trends Analysis Report By Component (Power Bank, Chargers), By Sales Channel (Online, Offline), By Region, And Segment Forecasts, 2023 - 2030

Mobile Phone Power Accessories Market Size, Share & Trends Analysis Report By Component (Power Bank, Chargers), By Sales Channel (Online, Offline), By Region, And Segment Forecasts, 2023 - 2030

Mobile Phone Power Accessories Market Growth & Trends

The global mobile phone power accessories market is anticipated to reach USD 58.3 billion by 2030, growing at a CAGR of 6.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increased demand for smartphones is subsequently fostering the demand for mobile phone power accessories. Furthermore, increased demand for power devices to charge mobile accessories, such as smartwatches, earphones, headphones, etc., is another key factor fueling the global market growth.

The rising eminence of online shopping and evolving e-commerce experience is expected to provide impetus to market growth during the forecast period. Consumers prefer online shopping over brick-and-mortar since it enables a one-stop shopping experience, including the availability of various brand and technology options on a single platform. The vendors operating in the market are also significantly investing in developing their online sales portals to compete with e-commerce platforms.

Wireless charging technologies are rapidly evolving in the market, with the awareness of technological advancements, consumers are adopting wireless chargers more. The vendors have also shifted to manufacturing wireless charging-enabled smartphones in the market. The growing use of IoT, smartphones, and smart wearables is a key factor in the market growth. The wireless chargers are portable and easy-to-carry chargers that attract the consumer’s attention.

The revenue share for power banks is expected to be the highest. Smartphones are a major application market for power banks. The extensive use of data and internet services on smartphones is one of the main factors leading to the rapid draining of battery power. Smartphones have short-life batteries, which increases the demand for power banks. Power banks allow smartphones to run for extended periods. Moreover, in an unstable power supply or prolonged power outage, a power bank is an ideal substitute for preventing the device from turning off.

Asia Pacific market is anticipated to register the highest CAGR over the forecast period. The regional market is witnessing the highest smartphone adoption among the population. The growth is attributable to increasing disposable income, rising internet penetration, increased prominence of social networking, and the development of novel technologies. China, India, South Korea, and Indonesia are the key countries driving the demand for mobile phone power accessories. The availability of low-cost raw materials, cheaper labor, and low-cost manufacturing in the region create high growth virtues for the market.

Mobile Phone Power Accessories Market Report Highlights

• In terms of component, the power bank segment dominated the market with a revenue share of over 51.7% in 2022.With the advancement and growth in smartphone technologies, the power bank segment has been witnessing high growth
• In terms of sales channel, the offline segment dominated the market in 2022 with a revenue share of 51.0%. Many mobile phone power accessory brands and manufacturers continue to rely on brick-and-mortar retail stores to reach consumers. This included partnerships with large electronics retailers, mobile carrier stores, and consumer electronics stores
• Based on region, the Asia Pacific region dominated the market in 2022 with a revenue share of 42.6%. The growth is attributable to one of the highest implementation rates of mobile phones in the region. Australia, China, Japan, South Korea, and India are the prominent countries that drive the demand for mobile phone power accessories

Please note The report will be delivered in 4-8 business days upon order notification.