Mobile Phone Accessories Market: Demand for Power Banks Expected to Witness Highest Growth Rate by 2016 End: Africa Industry Analysis and Opportunity Assessment, 2016-2026
- Rep Id : XPLREP1762
- Published On : September, 2016
- No. of Pages : 222
- Category : Retail
- Publisher : Future Market Insights
The Africa mobile phone accessories market offers great opportunities to manufacturers owing to a large number of mobile device users and a substantial growth in the adoption of smartphones and tablets. Revenue generated by the Africa mobile phone accessories market is estimated to reach US$ 4,060.2 Mn by 2026, registering a CAGR of 5.8% over the forecast period.
Key factors and trends impacting the market
Rapid urbanisation and increasing popularity of music, videos, and games are factors that will drive the demand for mobile phone accessories in Africa. Demand for mobile phone accessories in Africa is strongly associated with a rapid growth of the smartphones market. Chinese manufacturers have established a strong base in many parts of Africa to meet the demand for low cost mobile phone accessories. As these low cost accessories are of poor quality and come with a short life, consumers seek better alternatives. This is expected to drive growth of the Africa mobile phone accessories market over the forecast period.
High demand for low-priced accessories and poor economic conditions in Africa are the main challenges faced by mobile phone accessories providers. Major opportunities for growth in the Africa mobile phone accessories market lie in an increase in brand awareness among consumers coupled with a rising disposable income. Prominent market players are focusing on entering regional markets by localising their products. Over the past few years, companies such as Case-Mate, Muvit, Mozo Accessories, and Energizer have significantly increased their footprint in the Africa mobile phone accessories market.
The Africa mobile phone accessories market is segmented on the basis of – Type (Power banks, Batteries, Chargers, Protective Cases, Headphones & Earphones, Portable Speakers, Memory Cards, Other Accessories); Price (Low, Mid, Premium); and Distribution Channel (Multi-brand store, Single brand store, Online store). The Batteries segment type was valued at US$ 228.8 Mn in 2015 and is expected to register a CAGR of 5.7% to reach US$ 418.2 Mn by 2026. The Multi-brand store segment dominates the distribution channel segment owing to the fact that consumers are offered a variety of options and brands under one roof.
Among the different types of mobile phone accessories, the protective cases segment is estimated to account for a maximum market revenue share by 2026, owing to the fact that it helps protect the phone and is also a style statement.
Demand for power banks is estimated to witness the highest growth rate by 2016, owing to the frequent power cuts that take place in some parts of Africa. In the price segment, the mid-priced accessories segment is estimated to increase at the highest growth rate during the forecast period, followed by low-priced accessories. Mid-priced accessories are affordable and are of a better quality with a longer life, hence consumers are likely to spend on mid-priced accessories than low-priced ones.
Of the chief regions in Africa (East Africa, West Africa, South Africa, and Rest of Africa), the Rest of Africa region is expected to be the largest revenue generator for mobile phone accessories by 2016, accounting for a revenue share of 44.1% by the end of 2016. The South Africa market segment in the Africa mobile phone accessories market was valued at US$ 595.5 Mn in 2015 and is expected to register a CAGR of 6.3% to reach US$ 1,157.2 Mn by 2026.
Some popular vendors such as Case-Mate, Muvit, and Mozo Accessories are focusing on innovative ways to expand their customer base and thereby consolidate their position in the Africa mobile phone accessories market. Mobile phone accessories vendors are introducing different varieties of mobile phone accessories that reflect the culture of consumers in Africa in order to increase the popularity of their products.