Earphone/headphone segment acquired the largest market revenue share in the Latin America Mobile-phone accessories market in year 2021 – 6Wresearch
Latin America mobile-phone accessories market registered significant growth during the past period owing to increased demand for advanced communication systems in corporate sector for easy and feature-rich communication between remote employees and international clients. Furthermore, adoption of BELLA 2030 (Building the Europe Link with Latin America) to promote expansion of digitalization in science, technology and education across 16 countries in Latin America including Argentina, Mexico among others would also aid the demand for mobile-phones thereby driving the mobile-phone accessories market positively in the upcoming years.
In 2020, the outbreak of COVID-19 pandemic had a positive impact on Latin America mobile-phone accessories market as most businesses, government organizations, educational and healthcare institutions had to resort to remote collaboration in order to continue with their daily operations. However, the market also contracted initially due to the lockdown and subsequent supply chain disruptions, along with delays in production processes. The market is anticipated to recover with the resumption of economic activities and register growth during the forecast period.
According to 6Wresearch, Latin America Mobile Phone Accessories Market revenue size is projected to grow at a CAGR of 7.4% during 2022-2028. The Latin America mobile-phone accessories market is poised for growth in the coming years on account of initiatives taken by the government to promote digital learning and tele healthcare including Brazil’s National Digital Health Strategy (2019-2023), Argentina’s National Digital Health Network, Mexico’s Digital Strategy (2021-2024) and others are expected to further boost the growth of mobile-phone accessories market across Latin America in the coming years.
According to Shubham Deep, Research Associate, 6Wresearch, “By product type, earphones/headphone held the highest revenue and volume share in the overall Latin America Mobile-Phone Accessories as they are the most widely used after-market product ever since the mobile-phone companies got rid of the wired earphone jack which led to an increase in demand for wireless earphones. Further, advancement in technology in earphones and growth of digital mobile content and gaming, ensured the demand from young generation driving the market growth in forecasted time frame.”
“By price range, mid segment has the highest share in revenue in Latin America Mobile-Phone Accessories market and same trend is expected to continue in forecast years primarily due to their affordability along with utility they offer. However, as the consumers switch to premium segment cell phones due to affordable financing options, demand for premium accessories such as earphones and mobile covers would witness highest growth in the coming years” He further added.
Some of the major companies in Latin America Mobile-phone accessories market include Sony Corporation, Nokia Corporation, Apple Inc., Motorola Inc., Xiaomi Inc., Philips Inc., Panasonic Holdings Corporation, Harman International, HyperX, Samsung Electronics Co., Ltd.
“Latin America Mobile-phone accessories market report (2022-2028)” report provides an in-depth analysis and covered in 112 pages. The report estimates and forecast the overall Latin America Mobile-phone accessories market by product countries, product type, distribution channels and price range. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.