Why Phone Accessories Is A Big Parallel Market ?

Ever since the mobile phone came into existence, a parallel market has grown over the years i.e the phone accessories market.  Some of the post popular phone accessories are the Phone skins, covers,
jackets, screen guards, headphones, charging plates, phone chargers, speakers etc.

The growth of Smart phones & Tablets have seen the accessories market grow manifold. A recent report from ABI research sees the revenues from the smart phone accessories market  reaching a staggering $20 Billion in 2012. That’s quite a number. But the accessories market for feature phones continue to decline and by 2017 , the feature phone accessories market will reach $12 Billion. By this period the smartphone accessories market will reach $38 Billion. The reason behind this is the increasing number of smartphone sales. More and more people are changing their phones to a smartphone.

One can find all kinds of accessories today from designer to smart which represents the personality of a user. This is driving a whole new market with higher levels of consumer interaction, product value and brand recognition. A number of brands have popped up in the last few years.  As smartphones and tablets continue to grow and get innovative, accessories will need to equally deliver greater levels of engagement and customizations. Consumers are continuously going to look for innovative products and upgrade accessories frequently. There lies a greater opportunity for manufacturers and designers to come with more innovative products.

Apple, Samsung, NOKIA,Blackberry, LG, HTC are the main smartphones driving the whole accessories market. It all started with the Apple Iphone. Now with the new set of Tablets in the market, a whole new range of innovative products have also grown. Globally this trend is going to see an even grater growth in the future and as ABI predicts, the smart phone accessories market to reach $38 billion; the opportunity is unlimited. With newer devices coming into the market and each manufacturer investing big time in new smart phones and devices, we will surely see lot of innovative accessory products to cater to the needs of these phones.

So what do you think about this whole accessory market ? Put your comment below.

Leave a Comment