The Malaysia mobile phone accessories market comprises equipment such as protective covers, chargers, memory cards, and headphones that enhance the user experience and functionality of mobile phones. Protective covers protect the mobile phone from physical damage, scratches, and fingerprints. Chargers provide power to the mobile phone and allow for convenient charging. Memory cards extend the storage capacity of phones. Headphones allow for private listening experience. The growing popularity of smartphones has increased the demand for accessories that improve usability.
Malaysia mobile phone accessories market is estimated to be valued at US$ 1.36 Bn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Malaysia mobile phone accessories market are Apple Inc., Bose Corporation, JBL Incorporated, Koninklijke Philips N.V., OnePlus and Among Others. The key players are focusing on developing innovative and technologically advanced accessories. For instance, Apple released Airpods Pro headphones with active noise cancellation technology.
The growing adoption of smartphones is driving the demand for accessories in Malaysia. As of 2020, over 80% of the Malaysian population owned a smartphone. Young consumers in Malaysia are especially early adopters of the latest smartphone models and accessories. Protective cases and headphones are the most popular mobile accessories purchased.
Technological advancements are expanding the capabilities of mobile phone accessories. Wireless chargers with faster charging capabilities have been introduced. Bluetooth headphones with long battery life and rich sound quality are gaining popularity. Memory cards now support higher storage capacities of up to 1TB. These technological upgrades are further fueling market growth.
Market Trends
Increased focus on wireless technology - Manufacturers are focusing on developing wireless accessories like truly wireless earphones and chargers to offer convenience to users. Advancements in Bluetooth and wireless charging standards are supporting this trend.
Popularity of premium accessories - Consumers increasingly purchase premium accessories from established brands for superior audio and charging experience. Leading players like Apple and Bose have established strong premium segment customer base.
Market Opportunities
Growing e-commerce sector - The growth of e-commerce and online shopping in Malaysia provides opportunities for accessory sellers to reach wider customer base. Several online accessories-only stores have emerged.
Bundling with new smartphones - Mobile companies can bundle popular accessories with new smartphones to boost sales. Deals on protective cases and earphones can incentivize smartphone purchases.
Impact Of COVID-19 On Malaysia Mobile Phone Accessories Market
The COVID-19 pandemic has significantly impacted the Malaysia mobile phone accessories market. During the initial outbreak, market growth declined sharply as the lockdowns enforced slowed down production and disrupted the supply chain. With people confined to their homes, the demand for mobile phones and related accessories also reduced initially. However, as people adjusted to the new normal of remote working and learning, the demand gradually recovered over 2020 and 2021. The increased screen time spent on mobile phones drove the need for phone protection covers, power banks, headphones, and other accessories.
While the production and supply constraints eased in 2021 and 2022 with relaxation in lockdown restrictions, challenges remain in terms of rising input costs. The uncertainty around the emergence of new virus variants also poses risks to sustained market recovery. Additionally, the weakened economic conditions have reduced discretionary consumer spending to some extent. However, trends like the growth of e-commerce and opportunities arising from increasing digitalization are supporting market growth. Manufacturers are also innovating their product lines to better address current consumer needs.
Geographical Impact
In terms of value, the urban centers of Kuala Lumpur and Selangor together account for a major share of the Malaysia mobile phone accessories market. This is attributed to higher consumer spending power and tech savviness in these areas. The northern states of Penang, Perak and Kedah are also economically significant and contribute sizable market revenues.
However, the eastern state of Johor saw the fastest market value growth in the post-pandemic recovery phase. This was fueled by improving infrastructure projects, booming manufacturing industry and increasing exports. The state government's initiatives to promote digital transformation and e-commerce also boosted accessory sales. Going forward, as connectivity expands to rural regions, emerging states like Sabah and Sarawak are expected to increase their market share at a faster pace. Initiatives around digitization of government services will further aid market access in less developed areas.
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What Are The Key Data Covered In This Malaysia Mobile Phone Accessories Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Malaysia Mobile Phone Accessories's growth between 2024 and 2031.
:- Accurate calculation of the size of the Malaysia Mobile Phone Accessories and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Malaysia Mobile Phone Accessories Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Malaysia Mobile Phone Accessories vendors
FAQ’s
Q.1 What are the main factors influencing the Malaysia Mobile Phone Accessories?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Malaysia Mobile Phone Accessories companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Malaysia Mobile Phone Accessories’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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