Global Mobile Phone Power Accessories Market 2024-2031

Global Mobile Phone Power Accessories Market 2024-2031

Global Mobile Phone Power Accessories Market Size, Share & Trends Analysis Report by Component (Power Bank, Chargers and Power Cables) and by Sales Channel (Online and Offline) Forecast Period (2024-2031)

Mobile phone power accessories market is anticipated to grow at a CAGR of 5.7% during the forecast period (2024-2031). The global landscape of technology has witnessed a notable surge in the adoption of smartphones across diverse demographics. This trend is propelled by several factors, including the continual improvement of smartphone technology, making devices more affordable and accessible to a broader spectrum of the population. Moreover, the proliferation of cost-effective data plans and the expansion of mobile internet infrastructure have significantly contributed to the democratization of smartphone usage. As a result, consumers are increasingly inclined to invest in smartphones, viewing them not merely as communication tools but as versatile companions catering to a myriad of needs, from entertainment to productivity. This escalating adoption underscores the pivotal role smartphones play in modern society, driving a thriving market for associated accessories and services.

Market Segmentation

Our in-depth analysis of the global mobile phone power accessories market includes the following segments by component and sales channel:

Based on components, the market is segmented into power banks, chargers, and power cables.

Based on sales channels, the market is segmented into online and offline.

Chargers are Projected to Emerge as the Largest Segment

Based on the component, the chargers sub-segment is expected to hold the largest share of the market. The primary factor supporting the segment's growth includes the growing smartphones and internet penetration. As smartphones become essential tools for communication, work, entertainment, and more, the need for reliable and efficient charging solutions becomes necessary.

Online Sub-segment to Hold a Considerable Market Share

The online sub-segment held a significant share in the global mobile phone power accessories market due to its convenience, extensive product selection, competitive pricing, ease of comparison, global accessibility, and effective promotional strategies. Online purchasing offers convenience, allowing consumers to shop from anywhere, while a wide range of products caters to diverse needs. Competitive pricing and easy comparison tools attract budget-conscious shoppers, while global accessibility expands the customer base. Furthermore, online retailers utilize promotional strategies to drive sales.

Regional Outlook

The global mobile phone power accessories market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).

North America's Dominance in Mobile Phone Power Accessories Market Reinforced by Technological Innovations

North America leads the global mobile phone power accessories market due to its high smartphone adoption, and strong consumer base. Strong retail networks offer easy access to a variety of accessories while growing environmental awareness drives demand for sustainable options. Overall, a combination of factors including tech-savvy consumers, urban lifestyles, retail infrastructure, sustainability trends, and effective marketing strategies make North America the fastest-growing hub for mobile phone power accessories. For instance, in February 2022, Belkin introduced its latest range of connectivity solutions leveraging Intel’s Thunderbolt 4 controller. This includes the Thunderbolt 4 cable and the CONNECT Pro Thunderbolt 4 Dock. The latter offers advanced features such as dual display support for 4K content at 60Hz, rapid charging capabilities, and additional functionalities.

Asia-Pacific Holds Major Market Share

Asia-Pacific holds a significant share due to the large smartphone-using population and experiencing rapid urbanization and technological advancements. Additionally, Asia-Pacific serves as a manufacturing hub for many leading accessory brands, while the booming e-commerce sector provides easy access to a wide range of products.

The major companies serving the global mobile phone power accessories market include Apple Inc., Google LLC., Xiaomi, Sony Corp., Samsung Electronics, Co., Ltd., Huawei, and others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance, in February 2022, Belkin unveiled its latest series of connectivity solutions leveraging Intel's Thunderbolt 4 controller. This new lineup includes the Thunderbolt 4 cable and the CONNECT Pro Thunderbolt 4 Dock. The dock offers features like dual display support for content up to 4K at 60Hz, rapid charging capabilities, and additional functionalities.