The adoption of mobile phone accessory in South Korea will likely exhibit a CAGR of 8.8% through 2033. The mobile phone accessory industry in South Korea is poised to witness significant opportunities with a USD 3,285.2 million valuation in 2023.
Leveraging digital marketing and e-commerce platforms can help reach a wider audience of consumers looking for phone accessory products. By 2033, the adoption of mobile phone accessory in South Korea is likely to secure USD 7,614.7 million.
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| Attributes | Details |
|---|---|
| Industry Size of South Korea in 2023 | USD 3,285.2 million |
| Expected Industry Size of South Korea in 2033 | USD 7,614.7 million |
| Forecasted CAGR between 2023 to 2033 | 8.8% |
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South Gyeongsang is home to several industrial clusters, including technology and manufacturing hubs. These clusters foster innovation, research, and development in the mobile accessory sector, producing high-quality products.
Increased use of different types of mobile accessory, innovation of different products at lower rates, and the presence of a prominent mobile phone industry are significant factors for industry growth in South Gyeongsang.
The region's major electronics manufacturers and suppliers create a strong demand for mobile phone accessory, such as chargers, cables, and components.
The widespread use of smartphones creates a substantial customer base for mobile accessory in North Jeolla. North Jeolla has several manufacturers producing a range of mobile phone accessory. The local manufacturing ecosystem provides making accessory and component parts opportunities, contributing to the region's economic growth.
North Jeolla is home to various educational institutions and universities. Students and faculty often require mobile accessory, leading to a steady demand for Accessory like phone cases, chargers, and headphones. North Jeolla residents frequently purchase mobile accessory online. This trend stimulates the growth of online retail platforms.
Jeju has a high demand for eco-friendly mobile accessory, such as biodegradable phone cases and sustainable chargers, owing to the strong emphasis on eco-tourism and environmental conservation.
With growing consumer interest in health and wellness in Jeju, the demand for mobile health and fitness tracking accessory, such as fitness bands and smartwatches, has increased.
Jeju is a popular tourist destination, attracting millions of visitors annually. Tourists often purchase mobile accessory, such as phone cases and power banks, as practical items and souvenirs, contributing to industry growth.
| Category | Industry Share |
|---|---|
| Portable Speaker by Product Type | 16.3% |
| Retail Outlets by Distribution Channel | 38.6% |
The portable speaker segment accounted for a share of 16.3% in 2023 and is expected to witness significant growth in the near future. Demand for portable speakers has increased as they provide a more immersive and richer sound experience, making them popular among users who enjoy listening to music, watching videos, or playing games on their mobile devices.
Portable speakers are compact and easy to carry. Users can take them anywhere, whether it's a picnic, a beach outing, or a party, and enjoy high-quality audio without bulky equipment. This is propelling the demand for mobile phone accessory in the forecast period.
The retail outlet segment dominated the mobile phone accessory industry and accounted for a 38.6% share of the overall revenue. Increasing demand for costly devices such as smartwatches and mobile camera lenses and perception of issues with delivering fragile items propel the segment's growth.
By shopping from outlets, consumers do not need to wait for the delivery of products. Customers can select their desired mobile accessory in retail outlets, make a purchase, and immediately have the product in hand. The traditional method of shopping and the difference in price in local retail outlets and other wholesale markets are the reasons for the segment growth.
With their extensive expertise, resources, and focus on sustainability, South Korea mobile phone accessory companies are actively contributing to expansion. Some industry participants are concentrating on securing the largest possible market share by introducing the most cutting-edge technology through research & development tactics.
Many big players are also using mergers & acquisitions as a key strategy for expanding their geographical presence and for more business in terms of revenue.
Some of the Key Players in the Mobile Phone Accessory industry in South Korea include
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| Attribute | Details |
|---|---|
| Estimated Industry Size in 2023 | USD 3,285.2 million |
| Projected Industry Size in 2033 | USD 7614.7 million |
| Anticipated CAGR between 2023 to 2033 | 8.8% CAGR |
| Historical Analysis of Demand for Mobile Phone Accessory in South Korea | 2018 to 2022 |
| Demand Forecast for Mobile Phone Accessory in South Korea | 2023 to 2033 |
| Report Coverage | Industry Size, Industry Trends, Analysis of key factors influencing Mobile Phone Accessory in South Korea, Insights on Global Players and their Industry Strategy in South Korea, Ecosystem Analysis of Local and Regional South Korean Providers |
| Key Cities Analyzed While Studying Opportunities in Mobile Phone Accessory in South Korea | South Gyeongsang, North Jeolla, South Jeolla, Jeju |
| Key Companies Profiled | Samsung; LG Electronics; Seoul Semiconductors; DBX; Spigen; Gardex |
The estimated valuation of mobile phone accessories in South Korea is USD 3285.2 million in 2023.
The anticipated CAGR for mobile phone accessories in South Korea through 2033 is 8.8%.
Mobile phone accessories demand in South Korea will be USD 7614.7 million by 2033.
The portable speakers segment is expected to increase in mobile phone accessories demand.
The Retail Outlets (Multi-Brand Outlets) segment will likely remain a key contributor to mobile phone accessories demand in South Korea
| Market Estimated Size (2023) | USD 56.6 billion |
|---|---|
| Market CAGR (2023 to 2033) | 24.9% |
| Market Forecasted Size (2033) | USD 522.0 billion |
| Market Estimated Size (2023E) | USD 271.67 billion |
|---|---|
| Projected Market Valuation (2033F) | USD 479.57 billion |
| Value-based CAGR (2023 to 2033) | 5.8% |
| Market CAGR (2023 to 2033) | 24.4% |
|---|---|
| Market Size (2023) | USD 16,954.6 million |
| Market Size (2033) | USD 150,889.5 million |
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Demand and Trend Analysis of Mobile Phone Accessory in Korea
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