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Mobile Phone Protective Cover Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global mobile phone protective cover products market was valued at USD 8.2 billion in 2022 and is projected to expand at a CAGR of 14.6% from 2023 to 2030. Rising demand for protective covers to safeguard premium mobile phones from external damages is the key factor driving market growth. Consumers today prefer to buy premium phones and spend a considerable amount of money to acquire them. As a result, they are more likely to invest in protective covers that would safeguard their phones from damage. This, in turn, is increasing the demand for protective covers in the market.
In recent years, mobile phone manufacturers have been focusing on introducing products with new technologies and advanced features, such as water-proof phones, wireless charging, and dustproof phones. This has led to an increase in the cost of mobile phones, which is driving the need for protective covers. Furthermore, the growing use of mobile phones in the gaming and entertainment industry is expected to drive the demand for protective covers in the coming years.
The rising trend of personalization is also driving the demand for protective covers. Consumers today prefer to customize their phones with colorful and attractive covers to enhance their style. To cater to the increasing demand for customized phone covers, various market participants are offering a wide range of options to choose from. For instance, in 2021, Incase launched a range of protective covers that allow consumers to customize their phones with unique designs and patterns.
The growing e-commerce industry is also propelling the demand for protective covers. The increasing availability of protective covers on e-commerce platforms has made them more accessible for consumers. Moreover, these platforms are offering attractive discounts and offers on these products, which is further boosting the demand. Additionally, the growing trend of online shopping is expected to drive the demand for protective covers in the coming years.
In addition, the rising awareness about the importance of using protective covers to protect mobile phones is driving the market growth. Manufacturers are focusing on introducing protective covers with advanced features such as shockproof, dust proof, and water-resistant. Furthermore, the increasing number of branded stores and retail outlets is driving the demand for protective covers in the market.
Product Insights
The polycarbonate segment accounted for the majority of the mobile phone protective cover products market share in 2022. This can be attributed to the increasing demand for polycarbonate-made mobile protective covers due to their superior properties such as high toughness, impact resistance, and dimensional stability. Furthermore, polycarbonate is also highly resistant to heat, corrosion, and chemicals, which makes it a suitable material for producing mobile phone protective covers.
The leather segment is expected to expand at the fastest CAGR of 8.1% over the forecast period. This can be attributed to the increasing demand for leather-made mobile protective covers due to their superior properties such as luxurious appearance, durability, and comfort. Furthermore, various technological advancements such as the use of synthetic leather are allowing manufacturers to produce mobile phone protective covers with improved features. Additionally, the increasing demand for stylish and fashionable mobile phone protective covers is further propelling the growth of the market.
Distribution Channel Insights
The supermarkets and hypermarkets segment captured the major share of over 39.1% in 2022. The growth of the segment is mainly driven by the rising consumer inclination towards supermarkets & hypermarkets as a primary source to purchase mobile phone protective covers. According to a study by FashionNetwork.com in 2020, people are more likely to buy brands after touch and feel the experience in supermarkets & hypermarkets as only 22% of people shop frequently on their mobile devices. These establishments also provide a reasonable selection of products and assist customers in making rapid purchasing decisions for the required mobile phone protective cover.
The online segment is anticipated to expand at the highest CAGR of 13.7% over the forecast period. E-commerce development in the mobile phone protective cover industry has been rapid, with companies launching online websites and shopping apps to increase their brand visibility among consumers. For instance, in December 2022, Amazon launched a dedicated website for mobile phone protective covers. The website will offer brands across categories like leather covers, plastic covers, and metal covers. In addition, it will also offer the best brands and products for mobile phone protective covers along with expert advice and opinions on choosing the best product.
Type Insights
The hard protective cover segment accounted for the largest revenue share of 48.2% in the year 2022. The surge in demand for hard protective covers is primarily due to their durability and long-term protection. Furthermore, the availability of a wide range of protective covers in various designs, colors, and styles is increasing the adoption of hard covers. Additionally, the increasing affordability of hard protective covers due to the availability of low-priced and low-quality covers in the market is propelling their demand.
The soft protective cover segment is expected to expand at the highest CAGR of 10.2% over the forecast period. The increasing demand for soft protective covers is due to their light weight and better grip, which provides better handling of the device. Additionally, the availability of a wide range of soft protective covers in various designs and colors is boosting their demand. Furthermore, the increasing popularity of custom mobile phone covers is also driving the segment growth.
Regional Insights
Asia Pacific dominated the market and accounted for the largest revenue share of over 35.3% in 2022. This rise in market share can be attributed to the growing demand for protective covers among smartphone users. Moreover, the increasing popularity of online retailing in countries such as China, India, and Japan is driving the growth of the market in the region. For instance, in March 2021, ITATOO launched a new range of smartphone protective covers in China.
North America is expected to witness the second-fastest growth in the coming years. Increasing demand for protective covers due to the growing demand for mobile devices and the rising trend of mobile gaming in the region is expected to drive the growth of the market. For instance, in April 2021, Otterbox launched the Otterbox Armor Series, a protective case for smartphones, in the U.S. market.
Financial Projections
In this part of the business plan, we will provide a detailed breakdown of all income and expense categories of the mobile phone protective cover products business. These forecasts include cash flow projections and capital requirements for your business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for this business comes from the sale of the mobile phone protective cover products. Additional revenue sources can include affiliate marketing, advertising, and sponsorship. It is important to consider pricing strategies and the promotions necessary to attract customers and increase sales.
Projecting Expenses
The regular expenses related to keeping the mobile phone protective cover products business running will be described in this section. The list of operating expenses includes wages, inventory costs, manufacturing costs, marketing and advertising costs, shipping costs, and other overhead costs. Additionally, you should include any research and development costs associated with innovating new protective cover products.
Key companies & market share insights
Some of the key companies operating in the mobile phone protective cover 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, Otterbox launched its new series of protective covers designed to provide superior protection against drops and scratches.
– In August 2022, Spigen launched a new range of protective covers designed to provide superior grip and protection.
– In October 2022, Case-Mate launched a new range of slim and lightweight covers designed to provide additional protection.
Some of the prominent players in the mobile phone protective cover market include:
– Otterbox
– Spigen
– Case-Mate
– Incipio
– Tech21
– X-Doria
– Ringke
– Incase
– Griffin Technology
– Urban Armor Gear
Global Mobile Phone Protective Cover 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 mobile phone protective cover products market based on material, distribution channel, type, and region:
1. Material Outlook (Revenue, USD Million, 2017 – 2030)
– Plastic
– Leather
– Metal
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Basic
– Mid-Range
– Luxury
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]: Mobile phone protective covers are becoming increasingly popular due to their ability to protect a device from dust, water, and other external elements. With the growing popularity of smartphones and tablets, the demand for protective covers is increasing. Manufacturers are investing heavily in product innovation to create products that not only protect the device from external elements but also provide a stylish design. Moreover, the introduction of new materials such as thermoplastic polyurethane, polycarbonate, and polypropylene has enabled manufacturers to increase the range of protective covers offered.
[Q]: Who are the Key Players in the Mobile Phone Protective Cover Market?
[A]: Major players in the global mobile phone protective cover market include Otterbox, LifeProof, Incipio, Griffin Technology, Inc., and Incase Designs Corporation.
[Q]: Which Region Offers the Largest Opportunity for Sales of Mobile Phone Protective Covers?
[A]: Asia Pacific is expected to be the largest market for mobile phone protective covers, with an absolute dollar opportunity of $7.2 billion (USD) by 2026. This growth is attributed to the increasing number of smartphone users in the region and the rising demand for protective covers.
[Q]: What are the factors driving the mobile phone protective cover market?
[A]: Factors such as increasing disposable incomes, rapid urbanization, and the increasing demand for stylish and protective covers are expected to drive the global mobile phone protective cover market during the forecast period. Moreover, the introduction of new materials such as thermoplastic polyurethane and polycarbonate is expected to have a positive impact on the market.
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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