The Africa mobile phone accessories market is anticipated to grow from US$ 2,3-billion in 2016 to just over US$4-billion by 2026, registering a CAGR of 5.8% in terms of revenue during the forecast period (2016-2026).This is according to a new report Mobile Phone Accessories Market: Africa Industry Analysis and Opportunity Assessment, 2016–2026 published by Future Market Insights.
The report tracks the market in terms of value and volume, and is calibrated to obtain market revenue estimates.
Future Market Insights states: “Increasing disposable income and rapid urbanisation are factors anticipated to drive growth of the Africa mobile phone accessories market over the forecast period. Increased internet usage and smartphone penetration, along with a robust growth of m-commerce is further expected to push the demand for mobile phone accessories in Africa during the forecast period.”
Factors likely to hamper the growth of the Africa mobile phone accessories market, include poor economic conditions and a largely segmented marketplace.
The report adds: “Poor economic conditions and an established market captured by Chinese vendors are some of the major challenges expected to be faced by market players in the Africa mobile phone accessories market during the forecast period. The overall Africa mobile phone accessories market is segmented on the basis of type, price, distribution channel, and region,” Future Market Insights explains.
Research also highlighted that the mid-priced segment is expected to expand at the highest CAGR of 6.2% in terms of value during the forecast period.
In terms of market share, the low-priced segment alone accounted for more than one-third of the revenue share of the overall market in 2015 and analysts feel this segment will dominate the Africa mobile phone accessories market in the coming ten years.
“The online store segment is expected to expand at the highest CAGR of 7.2% in terms of value during the forecast period. In terms of market share, the multi-brand store segment alone accounted for more than one-third of the revenue share of the overall market in 2015 and is expected to dominate the Africa mobile phone accessories market between 2016 and 2026,” says Future Market Insights.
The company anticipates “a very promising scenario” for key players operating in this market over the next ten years.
Analysts are of the opinion that innovation in new product offerings and services will be a critical lever for companies such as Case-Mate, Muvit, and Mozo Accessories to consolidate their market position and establish a solid customer base.
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