The study also shows that smartphone accessory revenue will increase to $38 billion while feature phone accessories revenue will decline to $12 billion.
Feature phone consumers currently spend an average of $28.17 on accessories per device, while smartphone consumers spend an average of $56.18 on accessories per device. The reason for the high price for smartphone accessories is driven by a combination of both consumers spending more per accessory and purchasing more accessories for smartphones compared to feature phones.
Consumers continue to use accessories as they always have, but increasing capabilities and expectations of consumers and their devices are changing the way accessories are designed.
“To address this shift in consumer behavior, accessories must focus on delivering tighter integration with smartphone functionality and features offering a more intelligent accessory product or smart accessory,” said Kevin Burden, vice president and practice director, mobile devices for ABI.