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Car Phone Holder Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global car phone holder products market was valued at USD 4.2 billion in 2022 and is projected to expand at a CAGR of 6.2% from 2023 to 2030. The increasing trend of using smartphones while driving has been a major factor driving the demand for car phone holder products. The rising consumer preference for hands-free connectivity while driving is further accelerating the growth of the car phone holder products market.
The market players are focusing on introducing innovative products to cater to the consumer needs. For instance, in July 2021, iOttie introduced a new product, the Easy One Touch Connect, which is a wireless car phone mount that can be wirelessly charged. It provides a secure mounting base for the user’s phone and is powered by Qi wireless charging technology. Additionally, in April 2021, Scosche released an innovative product, the MagicMount Elite, which is a Qi wireless charging car mount. The product is compatible with all Qi wireless charging devices and has an adjustable magnetic head for a secure fit.
The rising preference for comfort and convenience is further driving the demand for car phone holders. The consumers are increasingly opting for air vent car phone holder products as they don’t obstruct their view while driving. In addition to this, the availability of a wide variety of car phone holder products, such as dashboard mount, CD slot mount, and windshield mount, is further propelling the growth of the market.
The market players are focusing on introducing new and innovative products to cater to the customer needs. For instance, in May 2021, Nite Ize introduced the Steelie Dash Mount Kit, which is a combination of the brand’s best-selling Steelie Magnetic Phone Socket, security anchor, and a low-profile adhesive base. This product is designed to provide a secure mount for a phone with a simple twist to lock and unlock the phone.
Moreover, the increasing demand for car phone holder products in emerging markets, such as India and China, is driving the market growth. The increasing disposable income of consumers and the rising trend of using smartphones while driving are some of the major factors driving the growth of the car phone holder products market in these countries. Furthermore, the market players are focusing on launching innovative products and expanding their customer base in these regions.
Product Insights
The magnetic car phone holder segment held the largest market share in 2022. The magnetic car phone holder is easy to install, and the magnet is strong enough to hold the phone firmly. Furthermore, these holders are available in a wide range of designs and shapes. Moreover, the rising demand for these holders for their convenience and ease of operation is driving the segment’s growth.
The air vent mount car phone holder segment is anticipated to register the fastest CAGR of 8.7% during the forecast period. This is due to the increasing demand for car phone holders that are easy to install and also offer a secure grip for the phone. Furthermore, the air vent mount type of car phone holder is becoming increasingly popular due to its convenience and portability. The emergence of online stores is also contributing to the growth of the segment.
Distribution Channel Insights
The specialty stores segment held the largest market share of 33.3% in 2022. Consumers are increasingly preferring specialty stores as they provide a wide range of car phone holders and related accessories. Specialty stores provide customers with a convenient option to purchase car phone holders which are compatible with their mobile phones. Furthermore, customers are able to buy a car phone holder of their preferred brand and model from specialty stores.
The online segment is anticipated to register the fastest growth in the forecast period. The increasing trend of online shopping has made it easier for customers to purchase car phone holders from online stores. Customers can compare the prices of car phone holders on different online platforms, and select the best option available. Additionally, online stores also offer discounts and promotions on car phone holders, which further attracts customers to purchase car phone holders online.
Type Insights
The adhesive car phone holder segment is estimated to account for the largest revenue share in the forecast period. The increasing trend of mounting a phone in the car has driven the demand for adhesive car phone holders. Easy installation and affordability of adhesive car phone holders is driving their demand in the market. In addition, the presence of renowned players such as iOttie, Z-Edge, and Wizgear has increased the availability of these products across the world and is expected to drive their demand in the forecast period.
The dash mount car phone holder segment is estimated to witness the highest CAGR of 9.2% during the forecast period. Dash mount car phone holders provide comfortable and secure mounting. These holders are easy to install and provide strong grip to the phone, without the need of any adhesive. Furthermore, the increasing number of players such as TechMatte, iOttie, and WizGear in the market are offering innovative products in the dash mount car phone holder segment, which is expected to increase the demand for these holders during the forecast period.
Regional Insights
Europe was the largest regional market in 2021 and is expected to remain so over the forecast period. The increasing popularity of car phone holder products in the region is expected to drive the growth of the market in the coming years. The presence of prominent players such as Belkin International Inc., Griffin Technology, and iOttie, Inc. is expected to further boost the regional market growth.
Asia Pacific is expected to witness the highest growth in the market during the forecast period. Rapid urbanization and increasing disposable income of consumers are expected to drive the growth of the market in this region. In addition, the presence of major players such as ProClip USA, Inc., i-mesh-bean, and Baseus Technology Co., Ltd. is expected to further boost the regional market growth. For instance, in August 2021, Baseus Technology Co., Ltd. launched a car phone holder in India.
Financial Projections
In this part of the car phone holder products business plan we will provide detailed financial projections. These forecasts include cash flow projections and capital requirements for the business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a car phone holder products business comes from the sale of car phone holders. Here you will find a list with a description of each of them and other possible sources of profit such as online sales, sales at retail stores, and wholesale.
Projecting Expenses
In this section, all the regular expenses related to keeping the car phone holder business running will be described. The list of operating expenses includes purchasing materials, production and labor costs, advertising and marketing expenses, shipping costs, and others.
Key companies & market share insights
Some of the key companies operating in the car phone holder market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, iOttie launched the Easy One Touch 4 Dash & Windshield Car Mount, a new car phone holder that is designed to provide a secure fit on any flat surface.
– In August 2022, Scosche launched the MagicMount Pro Dash/Window car phone holder, an advanced car phone holder designed to provide secure mounting for all types of mobile devices.
– In November 2022, Anker launched the Roav DashMount, a new car phone holder designed to provide a secure and stable grip on any car dashboard.
Some of the prominent players in the car phone holder market include:
– iOttie
– Scosche
– Anker
– Mpow
– AUKEY
– Spigen
– iKross
– SKYLLA
– Belkin
– Baseus
Global Car Phone Holder Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global car phone holder products market based on product type, application, distribution channel, and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Clamp Holder
– Suction Holder
– Air Vent Holder
– Adhesive Holder
2. Application Outlook (Revenue, USD Million, 2017 – 2030)
– Commercial
– Residential
3. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Offline
– Online
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Potential of Product Innovation?
[A]: Product innovation within the car phone holder market is driven by consumer demand for convenience and safety while driving. Companies are introducing car phone holders with features such as wireless charging, automated clamping, and adjustable mounting arms to better meet customer needs. Additionally, the use of advanced materials such as aluminum alloy, ABS plastic, and silicone are being used to create lighter, more durable, and aesthetically pleasing car phone holders.
[Q]: Who are the Key Players in the Car Phone Holder Market?
[A]: Major players in the car phone holder market include iOttie, Incipio, Inc., The Joy Factory, Inc., Logitech, Brodit AB, Belkin International, Inc., and Scosche Industries.
[Q]: Which Region Offers the Largest Opportunity for Sales of Car Phone Holders?
[A]: The Asia Pacific region is expected to be the most lucrative market for car phone holders over the forecast period. This is due to the increasing number of vehicles in the region and the increasing demand for technologically advanced products.
[Q]: What are the factors driving the car phone holder market?
[A]: Factors such as the growing demand for convenience, safety, and comfort while driving, the rising number of vehicles, and the increasing use of smartphones are driving the market for car phone holders. Additionally, technological advancements in car phone holders, such as wireless charging, automated clamping, and adjustable mounting arms, are also expected to drive the market for car phone holders.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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