16 May 2019

The Africa mobile phone accessories market is anticipated to grow from USD2.3bn in 2016 to just over USD4bn by 2026, registering a compound annual growth rate (CAGR) of 5.8 per cent in terms of revenue during the 10-year forecast period.

A report called Mobile Phone Accessories Market: Africa Industry Analysis and Opportunity Assessment, 2016–2026, published by Future Market Insights, follows the market in terms of value and volume and then calibrates for market revenue estimates.

“Increasing disposable income and rapid urbanisation are factors anticipated to drive growth of the Africa mobile phone accessories market over the forecast period,” said the company. “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.”

It said that factors likely to hamper the growth of the Africa mobile phone accessories market, include poor economic conditions and a largely segmented marketplace. “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 report added.

“The overall Africa mobile phone accessories market is segmented on the basis of type, price, distribution channel, and region.” The study also showed that the mid-priced segment is expected to expand at the highest CAGR of 6.2 per cent in terms of value during the forecast period.

With regards to 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 said this segment would dominate the Africa mobile phone accessories market in the coming decade.

“The online store segment is expected to expand at the highest CAGR of 7.2 per cent in terms of value during the forecast period. In terms of market share, the multibrand 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,” added Future Market Insights.