Market Overview

Mobile Accessories: Are they Taking Over the Market?

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Since technology is on the rise, mobile phones are playing a significant role in bringing the internet to users all over the world. Today, there are a number of different mobile apps available to the public and end users often are trying to take advantage of the opportunity of owning the latest ones that come on the market. Since there is an increased demand in cell phones, the sale of mobile accessories is on the increase and many end users are watching out for the latest models. This leaves one to consider if moveable accessories are taking over the market at a rapid pace and why.

At present, Apple is considered by many persons to be the most powerful technology company in the world. Through Apple and other technology companies worldwide, software apps are being sold to millions of users each day and mobile computers are spreading at a remarkable speed.

So why is the sale of mobile computers and accessories taking off so fast? Marketers are concentrating their efforts in three main areas: traction, maturity and saturation. Mobile accessories such as cell phone case covers for iPhones, Nokia, Samsung and others are selling more because of a greater need for them, unlike the landline telephone accessories that some homes do not have any more due to the introduction of cell phones. In addition, mobile phones along with their accessories can be used almost anywhere and at any time, unlike landline phones that are limited to use only in homes and business places.

Landline phones took almost a century to achieve saturation state where demand for them started falling low. However, the market for mobile phones and their accessories started to really boom in a much shorter time and today is still growing. Other technology devices such as tablets and other computer related devices will sell much faster, according to many experts who are analyzing the industry. Since many people living in the United States own smartphones, demands for mobile accessories are expected to increase dramatically over the next years.

In the United States alone, demands for the accessories are already on the increase and many businesspersons are taking advantage of the boom by starting businesses selling them. Companies that have been selling the accessories are expanding their reach by opening new branches in different states in order to swallow greater profits.

If the mobile phone market should continue growing, then mobile accessories will grow as well. In 2013, experts forecast that the phone market will rise by 7.3% and driven by millions of smartphone shipments. By 2017, smartphones are expected to climb to 1.7 billion units.

Portable accessories will follow the rise of smartphones and consumers may see the introduction of new fittings on the market soon. Competition among entrepreneurs is still high and so the public may see a drop in prices of phone accessories.

Mobile accessories will continue to play a big role in the lives of end users and one should look out for new developments in the industry. Still, experts and the public are watching the market closely to see how big it will grow.    

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

 

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