The global cell phone accessories market will reach $255 billion By 2023

Market research firm said it expects the global cell phone accessories market to grow at a compound annual growth rate of 2.3% by 2023, reaching approximately $255 billion.

Market consulting firm Allied Market Research (AMR) described its latest report for eight years from 2017 to 2025.

The growth model of the global cell phone accessories market, including product types, distribution channels and price ranges. AMR, based in Portland, on the west coast of Oregon, said that the cell phone accessories market value in 2016 was approximately $217 billion, with headset-type revenue predominating.

According to the report, the market share of headsets in 2016 was US$60.7 billion, the highest proportion, with a growth rate of 2.5% from 2017 to 2025.

The Asia-Pacific region is the country with the highest revenue contribution from the global cell phone accessories market in 2016, accounting for 46.50%, due to the rapid development of technology and the popularity of smartphones.

The report said that the future cell phone accessories market will be mainly from Japan’s Matsushita Electric Co., Ltd., Sony Corporation, American Apple, German audio giant Sennheiser Electronics Co., Ltd., Boss and other major manufacturers as well as China BYD Co., Ltd. and South Korea Samsung Electronics Co., Ltd.