Over recent years, smart phones have become increasingly popular across the United States and many other countries around the world. More and more smart phones from a variety of manufacturers have been hitting the shelves and people of all ages are now using these devices or planning to get a smart phone because of their increased capabilities and high tech features.
Of course, with the increase in smart phone sales and use comes an increase in smart phone accessories, and ABI Research has recently released figures relating to the value of smart phone accessory revenues for 2012. According to the research firm, smart phone sales and use will result in $20 billion in aftermarket accessory revenues in 2012.
Overall, aftermarket handset accessory sales are expected to generate around $36 billion and based on the ABI figures, more than half of this will be from smart phone accessory sales. By 2017, revenues from smart phone accessories are set to increase to $38 billion and feature phone accessory revenues are set to decline to $12 billion, as smart phone use becomes even more widespread.
Michael Morgan, senior analyst, devices, applications & content, said: "The increasing penetration of smartphones is driving a shift in accessory design toward smart accessories that drive higher levels of consumer interaction, product value, and brand recognition. For new market entrants, developing brand recognition is paramount in capturing market share from the incumbents. This is best accomplished by the development of engaging, innovative accessories that extend the value proposition of today's mass market accessories."