Car Phone Holders Market Analysis

Market Scenario

Global Car Phone Holders Market size is projected to reach approximately USD 1,241.91 Billion by 2027, exhibiting a CAGR of 5.92% from 2020 to 2027. Smartphones being a multifunctional device, provides a pool of features such as navigation or speakerphone while driving. Car phone holders or mounts is a car accessory that helps in making a smartphone hands-free. A car phone holder is designed to hold the device in an optimum position for safe viewing of the phone screen while driving. Car phone holders are often close to the air conditioning vent or have a rubber suction pad for attaching to the windscreen and dashboard. Continuous technological advancements and R&D by market players have given rise to the modern version of car phone holders. Modern car phone holders have features such as magnet mounting and phone charging facilities. However, growing incidences of road accidents due to distractions while driving followed by an increasing number of private label brands are expected to restrict the overall market growth.

The impact of COVID-19 has directly affected the distribution and sales of different products across industries. Many countries are under lockdown and have sealed their borders to curb the spread of the virus. The impact of COVID-19 on logistics has disrupted the supply of raw materials, which has further resulted in reduced production capacity and, hence, product shortages. These factors are expected to cause a price rise in car phone holders in the short run. Additionally, restricted traffic movements have further lowered the need for car phone holders worldwide and are expected to stabilize with government restrictions' gradual relaxation during the forecast period.

Market Synopsis

Global Car Phone Holders Market has witnessed high growth in recent years. The increasing population in developing nations, growing spending capacity of consumers, and mobile phones becoming an indispensable part of urban life has boosted the sales of phone accessories, which has fueled the demand for car phone holders among consumers across the globe. Moreover, plug and play facility topped with user-friendly installation has further surged the sales of car phone holders worldwide in 2019. Car phone holders are available as both magnetic and cradle or spring and can be purchased based on the convenience and interiors of the car. Car phone holders are constantly creating traction among consumers as it offers convenient access to smartphone features while driving and aids in the aesthetic appeal of the car interior. Increasing smartphone sales due to the availability of cheaper variants followed by advanced navigation systems in smartphones has boosted the demand for car phone holders worldwide.

Market USP

Introduction of smart features in-car phone holders, such as auto open and closure of cradle, gravity sensors, and wireless car charging

Market Drivers

• 
  Growing sales of smartphones: The rapid growth of the global mobile phone accessories market is directly proportional to the sale of smartphones across the world. This, in turn, has boosted the sales of car phone holders across the world in 2019. According to a recent study by MRFR, the sales volume of smartphones reached 1.69 billion units in 2020, an increase of 3% year over year. Additionally, 235 million units of 5G phones are anticipated to be sold in the year 2020 and are expected to double by the next year to 451 million units. Geographically, the Middle East & Africa is expected to register the highest growth rate in terms of smartphone sales during the forecast period. Such rapid growth of smartphone sales has led to the surging demand for mobile phone accessories, driving the global market growth.


• User Friendly


• Launch of Innovative Products


• Effective Marketing Strategies


• Growth of the Organized Retail Sector in Developing Countries

Market Restraints

• Rising Private Label Brands

Segmentation

By Product Type

• Magnetic


• 
  Cradle/Spring: This segment accounted for the largest market share in 2019 and is projected to exhibit a moderate CAGR during the forecast period. Cradle or spring car phone holders are more durable than its counterpart, appropriate for wide and heavy smartphones, and consumers frequently changing their phones. This type of holder can be adjusted at the center of the vehicle’s dashboard, and the sleek and slim design of the mount keeps the phone safe. Modern features such as automatic cradle opening and closure followed by wireless charging facility are further expected to drive the segmental growth during the forecast period.

By Mounting Type

• Sticky Pad


• Car Air Vent Clip


• 
  Suction Pad: This segment accounted for the largest market share in 2019 and is projected to register a moderate pace during the forecast period owing to convenient installation on the plane surface inside the car. The wide availability of suction pad phone holders has majorly fueled segmental sales across the world in 2019. However, the suction cup's low stability during bumps and the high possibility of mobile phone bracket shaking is expected to restrict the market growth during the forecast period.


• Others

By Category

• 
  Wireless Charging: This segment is projected to register the highest growth rate during the forecast period. Wireless charging phone holders are convenient to use as it charges the phone as soon as the mobile phone comes in contact with the holder and eliminates the frequent usage of cable to charge the phone. These holders are powered through a cable that plugs into the car's cigarette lighter or USB port. Furthermore, wireless charging speed is becoming faster than before due to advancements in wireless charging technology, which is expected to boost the segmental growth during the forecast period.


• Regular

By Distribution Channel

• 
  Store-Based: The majority of the car phone holders are sold through store-based retailers since stores offer the facility of touch and feel followed by a product demonstration. This segment has been further divided into supermarkets & hypermarkets, specialty stores, convenience stores, and others. The supermarkets & hypermarkets segment dominated the market in 2019.


• Non-Store-Based

By Region

• 
  North America: North America dominated the global car phone holders market in 2019 due to the high popularity of car phone holders as accessories and a strong distribution network. Growing sales of smartphones, high product awareness, and high spending capacity of consumers are anticipated to boost the regional market during the forecast period directly.


• Europe


• 
  Asia-Pacific: Asia-Pacific is a new revenue pocket for the car phone holders market. The growing spending power of the population in China, India, and South-East Asian countries has created an opportunistic market for the existing players. The rising per capita disposable income, the growing use of smartphones among the youth, and the launch of innovative products by market players are driving the growth of the market in the region.


• Rest of the World

Key Players

• 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)


• TechMatte Inc. (US)