The car phone holder market is anticipated to expand to a valuation of US$ 1.05 billion in 2023 and is projected to exhibit a CAGR of 5.7% from 2023 to 2033 and reach US$ 2.04 billion in 2033.
As mobile phones have become an essential part of people's lives, it is essential to incorporate them as efficiently as is feasible. Car phone holders are largely intended to hold the gadget in the optimal position for safe display while cruising. In other phrases, they are car accessories that support smartphones.
Rapidly rising for simplicity and a wider range of budgets, in addition to security and protection, have fueled demand for car phone holders. It provides a simple and reliable way to get turn-by-turn commands and employs a voice assistant to reduce the risk of car accidents. As per World Health Organization (WHO) estimates, approximately 1.3 million individuals pass away because of road accidents each year.
Car phone holders not only effectively deter car accidents, but they also allow users to make or respond to calls, play music, and navigate while driving. Since the vast bulk of smartphones includes voice recognition, they can be easily connected to the car phone holder and used to find locations, routes, or guidance. Low-interest rates and low gas prices are effectively driving up the number of vehicles on the roadways. While some consumers are buying new vehicles for the initial time, others are updating their existing vehicles.
As a result of the continued growth of vehicle personalization, the industry for car phone holders is anticipated to expand substantially in the coming years.
The burgeoning online presence of companies and retailers, in addition to the versatility of funding options and delivery services, are catapulting the expansion of the internet revenue segment. Increasing online penetration, as a consequence of changing customer tastes for online shopping, is predicted to fuel the growth of this segment. Enhanced use of mobile devices and shopping, social media influence, and transformative techniques are all major drivers of the segment's expansion. In 2021, the air vent mount product segment led the market, accounting for 46% of the total. The air vent mounts are generally linked to the blades of the car's front air vent, allowing people to easily put their mobiles just to the right or left of the steering wheel, based on where the vent is located in the car. They perform more effectively than other segments.
North America and East Asia, followed by Europe, held the most market share, as several car phone holder manufacturers are prevalent in these regions due to technological advancements and strong business growth rates. With increasing spending power and an expanding world population, Asia Pacific is expected to accelerate the most during the forthcoming years. Emerging economies including India and China are among the quickest growing in terms of population growth. The Asian economy and businesses have been developing for the last two decades, and the automobile sector is no exception. Furthermore, the region is home to a number of highly lucrative automobile makers in the sector, including Honda, Ford, Toyota, and others, which increase high vehicle sales in the region.
Due to the large concentration of national and local market participants, the competition is intense. Automakers are striving to create and style distinct product portfolios in order to satisfy the ever-shifting requirements of end-users. Furthermore, multichannel sales, a broad distribution platform, strong branding and advertising, digital marketing, and development into emerging economies through partnerships with vehicle manufacturers are among the crucial strategies of industry stakeholders. For instance, NUMBER ZERO introduced the world's first 5-in-1 magnetic vehicle phone holder with versatile graphics on Indiegogo in August 2021.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value (2023) | US$ 1.05 billion |
| Anticipated Forecast Value (2033) | US$ 2.04 billion |
| Projected Growth Rate (2023 to 2033) | 5.7% CAGR |
The car phone holder is the most convenient and easiest-to-use option for holding the phone in a car. The premium and multi-utility car phone holder used for attend calls, check emails, access Google maps, and perform different tasks without holding the phone in hands.
Nowadays, most of the car accidents are caused by mobile phone usage while driving.
For instance, the Insurance Institute for Highway Safety declared fatal crash risk is 66 percent higher when manipulating a phone. A good car phone holder can reduce those risks and improve driver and vehicle safety.
Car phone holders can be also used to hold the smartphone in place near the dashboard, for making it easy to use the phone for GPS navigation system or maintain hands-free calling. The need for a secure and safe phone while driving on the road has boosted the demand for a car phone holder for the past few years.
Car phone holder provides a wide range of applications with installing and using car phone mounts to allow securely and safely control the car’s entertainment system, and provide wireless car charger.
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The global car phone holder market is expected to witness significant growth during the forecast period, which can be attributed to the increasing adoption of different types of car phone holder such as air vented mount, CD slot mount, suction cup mount and adhesive mount and growing demand for versatile and flexible car phone holder worldwide.
The car phone holder offers various benefits such as attend calls easily, music access, play movies, and a secure and safe journey during navigation. The growing demand for GPS for navigation to help the car taxi drivers need to keep track of their journey is expected to create a huge opportunity for the global car phone holder market.
Growing adoption wireless devices such as wireless car charger mount among others due to advancements in wireless technology are also driving the car phone holder market.
However, as the vent-mounted models with magnetic attachments was slightly less reliable, lack of standardization in the technology and components used for the manufacturing of car phone holder, which could pose a bigger challenge.
Piracy is a major threat to car phone holder markets, and a restricted development environment, among other factors, are anticipated to restrict the growth of the car phone holder market over the forecast period.
Principal Consultant
Based on the region, car phone holder market has been segmented into North America, Europe, East Asia Latin America, South Asia & Pacific, and MEA (the Middle East & Africa).
North America & East Asia followed by Europe accounted for largest market share as many car phone holder manufacturer are present in these regions due to advancement in technology and high business growth rate in this region.
South Asia & Pacific is expected to grow at highest growth rate during the forecast period due to increasing disposable income and growing global population.
The car phone holder market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with car phone holder market attractiveness as per segment. The car phone holder market report also maps the qualitative impact of various market factors on car phone holder market segments and geographies.
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The car phone holder market has been segmented on the basis of sales channel, type, and region.
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Car Phone Holder Market
