The ubiquity of smartphones and advancement of technologies have led to adoption of mobile phone accessories across the world.
As the technology became the biggest influencer, people have changed their lifestyle with acceptance more gadgets and relied more on marvels of technology that would ease their lives. The adoption for accessories to be possessed with smartphones such as power bank, headphones, charger, and others has gained momentum.
The tech-savvy people have been possessing many gadgets that would provide convenience and flexibility in their lives. Moreover, online platforms have been offering these gadgets and accessories in discounted prices, so adoption is experiencing an upward spike.
According to the report published by Allied Market Research, the global mobile phone accessories market was valued at $217.2 billion in 2016, and will reach $255.1 billion by 2023, registering a compound annual growth rate of 2.3% from 2017 to 2023.
The global mobile accessories market is driven by factors such as significant increase demand for wireless accessories, adoption of smartphones, and strong distribution network, according to Allied Market Research. Moreover, a rise in disposable income and need for convenience supplements growth.