Every other piece of mobile accessory in the world is sold in the Asia-Pacific (APAC) region. To be precise, APAC accounts for 52.9 percent of all mobile accessories shipment, according to ABI Research.
Admittedly, the region does have a huge population but the sales figures are still staggering as global revenues for mobile accessories are expected to hit US$81.5 billion this year.
Driving the demand are cost competitive smartphones. 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,” said Marina Lu, Research Analyst of ABI Research.
The global mobile accessories market is forecasted to grow at a compound annual growth rate (CAGR) of 4.3 percent to US$101 billion in 2020 .
Protective carry cases is the top growing category, contributing the most to aftermarket mobile accessories shipment, 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,” said Lu.
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 percent 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 such as 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.