Common products in this category include mobile phone chargers (or "power banks"), USB cables, SD memory cards, and Bluetooth earphones.
According to researchandmarkets.com, sales of global consumer electronic accessories are estimated to grow at a CAGR (compound annual growth rate) of approximately 9.5% over the next decade and reach approximately $65.3 billion by 2025.
One of the biggest predicted growth areas in this category is with power banks, portable charging units most often used for mobiles. The market for power banks is expected to grow rapidly with one estimate predicting revenues of US$ 17.2 billion by 2020. Another study suggests a market growth of 21.2% in next five years with a revenue of US$ 25.16 billion by 2022.
The accessories and parts market includes an exceptionally wide array of products that complement popular consumer electronics devices (especially smartphones), ranging from cheap screen protectors to high-tech Bluetooth earphones.
Trends in this market are also largely affected by those for their counterpart electronic devices, such as mobile phones. For instance, promising newcomers power banks, have emerged in direct response to the downward spiral in mobile phone battery life.
Another key growth area is headphones. Worldwide revenue from earphone and headphone sales for personal use increased from US$ 4.32 billion in 2014 to US$ 5 billion in 2016. The number of units sold between 2013 and 2016 increased from 236 million to 334 million. In 2017, this number is forecast to reach 368 million, while shipments of only Bluetooth headsets worldwide are projected to increase from 116 million units in 2015 to nearly 140 million units by 2017.
Stable mainstays of the market include SD cards, which are used in a wide range of devices. However, the value of SD card market is expected to stagnate somewhat with an estimated growth of less than 1% by 2020.
Major smartphone vendors are routinely releasing new models, and each new innovation in that arena brings with it new possibilities for innovation for the accessories market. For example, the release of the iPhone 7 drove attention towards Bluetooth earphones but also created the possibility of new adaptors. That said, the presence of industry leaders (for example, Sony and Apple) across a broad range of products within both the electronics and the accessories market means that there are unlikely to be drastic changes in the core technologies involved.
The maturity and convergence of key technologies in this market (such as Bluetooth, USB, and SD) means that the main products in this category enjoy wide usage and are likely to stay around for years to come.