Car Phone Holders Market Scenario
Global Car Phone Holders Market size is touted to reach a substantial value of USD 1,241.91 Billion by 2027, showing a CAGR of 5.92% from 2020 to 2027.
People nowadays are so dependent on their phones that they carry them with them everywhere. This influences the demand for phone car mounts. There are several applications for a phone car mount. It provides people with convenience, ensures their protection while driving, and aids in the maintenance of cleanliness. In recent years, the global market for car phone holders has experienced rapid growth. The growing population of developing countries, the consumer buying power, and cell phones being an indispensible part of urban life have boosted phone accessory sales, fueling demand for car phone holders among consumers all over the world.
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The latest version of car phone holders is the product of continuous technical advances and market player R&D. Magnet mounting and phone charging capabilities are popular features of modern car phone holders. However, rising road accident rates due to distracted driving, as well as a rise in the number of private label brands, are expected to limit overall market growth. The growing demand for GPS navigation to aid car taxi drivers such as Uber and other companies in keeping track of their journey is expected to generate a significant opportunity for the global car phone holder industry. The car phone holder market is also being driven by the increasing adoption of wireless devices such as wireless car charger mounts, among others, because of advances in wireless technology.
COVID-19 has had a significant effect on the distribution and sales of various goods across industries. Many countries are on lockdown and have closed their borders to prevent the virus from spreading. COVID-19’s effect on logistics has disrupted the supply of raw materials, resulting in decreased manufacturing capacity and, as a result, product shortages. In the short term, these factors are projected to increase the price of car phone holders. Furthermore, restricted traffic movements have reduced the market for car phone holders globally, which is expected to stabilise with the gradual easing of government restrictions during the forecast period.
By product type, the market is segmented into magnetic and cradle/spring. In 2019, the cradle/spring segment held the largest market share, and it is expected to grow at a moderate pace over the forecast period. Cradle or spring Car Phone Holders Market Growth Analysis are more robust than their counterparts, and are better suited to large and heavy smartphones, as well as customers who change their phones regularly.
The market is divided into sticky pad, car air vent clip, suction pad, and other mounting styles. Because of its ease of installation on a plane surface within the vehicle, the suction pad segment held the largest market share in 2019 and is expected to expand at a moderate pace during the forecast period.
The market is divided into two categories: wireless charging and regular charging. During the forecast period, the wireless charging segment is expected to rise at the fastest pace. Wireless charging phone holders are easy to use because they charge the phone as soon as it meets the holder, removing the need to charge the phone with a cable.
The industry is divided into two types of distribution channels: store-based and non-store-based. During the forecast period, the non-store-based segment is expected to expand at a faster pace. For comprehensive sales of their goods, manufacturers of car phone holders prefer non-store-based distribution networks.
Due to the high popularity of car phone holders as accessories and a large distribution network, North America dominated the global car phone holders’ market in 2019. Growing smartphone sales, increased product awareness, and increased consumer spending power are expected to directly boost the regional market during the forecast period.
For the car phone holders’ segment, Asia-Pacific is a new revenue source. The rising purchasing power of the people in China, India, and Southeast Asia has developed a lucrative market for established players. The growth of the market in the area is being guided by increasing per capita disposable income, the growing usage of smartphones among the youth, and the launch of innovative products by market players.
The notable players are Shenzhen DIVI Technology Co., Ltd (Ainope) (China), Belkin International, Inc. (US), iOttie, Inc. (US), Kenu (US), Mirakase International Limited (Hong Kong), Scosche Industries, Inc. (US), MPOW Innovations Limited (US), Humixxus (China), WizGear (US), and TechMatte Inc. (US).
NOTE: Our Team of Researchers is Studying Covid19 and its Impact on Various Industry Verticals and wherever needed we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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